Enveric Biosciences Inc Stock Price, News & Analysis

Enveric Biosciences (NASDAQ: ENVB), a biotechnology firm focused on psychedelic-inspired mental health treatments, will have CEO Dr. Joseph Tucker participate virtually in the H.C. Wainwright Global Investment Conference from May 23-26, 2022. His presentation will be available on-demand starting May 24 at 7:00 a.m. ET. This event highlights Enveric's dedication to advancing mental health solutions, aiming to assist patients with conditions like PTSD and cancer-related distress. For further details or to arrange a meeting with management, interested parties should contact H.C. Wainwright.

Enveric Biosciences (NASDAQ: ENVB) announced plans to spin off its cannabinoid pipeline into a subsidiary, Acanna Therapeutics Inc., through a dividend to shareholders. This strategic move aims to create two separate biotechnology companies focusing on psychedelic-inspired mental health treatments and cannabinoid therapies. The spin-off is contingent on Acanna meeting Nasdaq listing qualifications and has secured $1 million in initial funding, with potential additional funding of $4 million upon completion. The goal is to enhance resource allocation and value creation for both companies.

Enveric Biosciences (NASDAQ: ENVB) is hosting a virtual fireside chat with Chief Medical Officer Dr. Bob Dagher on May 17, 2022, at 10:00 a.m. EDT. Dr. Dagher, with over 20 years of experience in neuroscience, will discuss the psychedelic industry and Cancer Related Distress, showcasing Enveric's unique approach to psychedelic therapeutics. He will also outline anticipated milestones for 2022. Interested participants can register for the event here.

Enveric Biosciences Inc (NASDAQ: ENVB) announced a dividend of one one-thousandth of a share of newly-designated Series C Preferred Stock for each outstanding share of common stock, effective for holders as of May 13, 2022. The Series C Preferred Stock will provide substantial voting rights and will be redeemable under specific circumstances. The company emphasizes its focus on developing psychedelic-inspired mental health medicines for conditions such as cancer-related distress and PTSD. Further details will be posted in a Form 8-K with the SEC.

Enveric Biosciences (NASDAQ: ENVB) announced its participation in three investor conferences in April 2022. Dr. Joseph Tucker, CEO, will speak at the Benzinga Psychedelics Capital Conference on April 19 at 11:10 a.m. ET in Miami, FL; the Sequire Cannabis & Psychedelic Conference on April 20 at 1:00 p.m. ET virtually; and the KCSA Psychedelics Investor Conference on April 27 at 11:00 a.m. ET, also virtually. Interested attendees can register for these events through the provided links.

Enveric Biosciences (NASDAQ: ENVB) reported a comprehensive net loss of $48.8 million for the year ending December 31, 2021, up from $7.0 million in 2020. The loss per share was $2.07. The company ended 2021 with $17.4 million in cash and equivalents. Key milestones included the acquisition of MagicMed and positive preclinical data for EV102. Enveric also filed several patent applications to strengthen its intellectual property portfolio and closed a $10 million public offering to support its drug development efforts.

Enveric Biosciences (NASDAQ: ENVB) has filed a provisional patent application for over 100 novel molecules, potentially leading to 10,000 new drug candidates. This initiative is part of their second-generation program targeting cancer-related distress (CRD) and expanding into other mental health conditions. Chief Innovation Officer Dr. Peter Facchini noted the use of their PsyAI™ technology in molecule design. These molecules, synthesized for safety evaluation, may advance to preclinical development soon. The application aims to address significant psychological distress in cancer patients, where existing treatments have shown limited efficacy.

Enveric Biosciences (NASDAQ: ENVB) announced the publication of its first four Patent Cooperation Treaty (PCT) applications for novel tryptamine molecules aimed at treating psychiatric and neurological disorders. These applications, published by the World Intellectual Property Organization (WIPO), protect Enveric’s innovative drug candidates, positioning the company as a leader in the development of psychedelic-inspired therapies. Tryptamines, including well-known psychedelics, are under research for their potential therapeutic advantages in various mental health conditions.

Enveric Biosciences (NASDAQ: ENVB) announced CEO Dr. Joseph Tucker's participation in three investor conferences in March 2022. The events include the Q1 Virtual Investor Summit on March 8 at 11:45 a.m. ET, Citi's Psychedelic Drug Call Series on March 10 at 10:00 a.m. ET, and the Maxim 2022 Virtual Growth Conference from March 28-30. Attendees can register online for each conference. Enveric focuses on developing psychedelic-inspired mental health medicines to aid patients suffering from conditions like cancer-related distress and PTSD.