Welcome to our dedicated page for Enveric Biosciences news (Ticker: ENVB), a resource for investors and traders seeking the latest updates and insights on Enveric Biosciences stock.
Enveric Biosciences, Inc. (ENVB) is a pioneering biotechnology company committed to the development of innovative neuroplastogenic small-molecule therapeutics aimed at treating mental health conditions such as depression, anxiety, and addiction disorders. Headquartered in the United States, Enveric is at the forefront of mental health research, with a focus on non-hallucinogenic solutions.
The company's flagship program, EB-003, represents a novel approach to tackling challenging mental health disorders. Unlike traditional treatments, EB-003 promotes neuroplasticity without causing hallucinations, providing a safer and potentially more effective option for patients.
Another key project in Enveric's pipeline is EB-002, previously known as EB-373. This next-generation synthetic prodrug of psilocin is being developed to offer new hope in the treatment of psychiatric disorders. With an emphasis on rigorous scientific research and clinical trials, Enveric strives to deliver breakthrough therapies that can significantly improve patients' quality of life.
Enveric's strategic vision includes forming partnerships and collaborations to enhance its research capabilities and accelerate the development of its therapeutic programs. Highlighting its commitment to innovation, the company is also investing in cutting-edge technologies such as artificial intelligence (AI) to further its research and development efforts.
Financially, Enveric Biosciences has been transparent about its funding efforts, ensuring that it maintains a robust financial foundation to support its research initiatives. With a strong commitment to ethical practices and patient-centric solutions, Enveric is emerging as a key player in the biotech sector, focused on addressing some of the most pressing mental health challenges of our time.
Enveric Biosciences (NASDAQ: ENVB) has closed its underwritten public offering, raising approximately $10 million through the sale of 20,000,000 shares of common stock and warrants. After costs, the company received net proceeds of about $9.2 million. The funds will be allocated for working capital and general corporate purposes. The offering included a 45-day option for the underwriter to purchase an additional 3,000,000 shares and/or warrants. This public offering was conducted under an effective shelf registration statement with the SEC.
Enveric Biosciences (NASDAQ: ENVB) has priced its underwritten public offering of 20 million shares of common stock, paired with warrants for an additional 20 million shares, at a combined price of $0.50 per share. The offering is expected to close by February 15, 2022, aiming to raise gross proceeds of approximately $10 million for general corporate purposes. A.G.P./Alliance Global Partners is the sole book-running manager for this offering, which includes a 45-day option for the underwriter to purchase an additional 3 million shares.
Enveric Biosciences announced the development of EV104a and EV104b, new molecular conjugates aimed at treating Osteoarthritis (OA) and other pain conditions. These conjugates combine cannabidiol (CBD) with celecoxib to improve pharmacokinetics and efficacy while reducing side effects. Pre-clinical testing is ongoing, and a provisional patent has been filed. CEO Joseph Tucker emphasized the need for better OA treatments, as current therapies are inadequate. This initiative positions Enveric to potentially enhance treatment options for patients suffering from OA-related pain.
Enveric Biosciences (NASDAQ: ENVB), a biotechnology company focused on mental health and oncology treatments, announced that CEO Dr. Joseph Tucker will participate in two upcoming investor conferences. The first is Citi's Psychedelic Drug Call Series on February 8, 2022, at 10:00 a.m. ET, followed by the Aegis Capital Corp. Virtual Conference on February 25, 2022, at 3:00 p.m. ET. Enveric specializes in leveraging psychedelic-derived molecules and synthetic cannabinoids for innovative therapeutic solutions targeting conditions like cancer-related distress and PTSD.
Enveric Biosciences (NASDAQ: ENVB) released a shareholder letter reflecting on 2021 and outlining plans for 2022. The company raised $25 million and acquired MagicMed Industries. In 2021, they filed 15 patent applications and established a drug discovery platform. Looking forward, Enveric aims to progress its drug development pipeline, focusing on a Phase II clinical trial for Cancer Related Distress using EVM-101 and continuing to develop product candidates through AI-driven discovery. As of September 30, 2021, Enveric had $21 million in cash, supporting their business strategy.
Enveric Biosciences (NASDAQ: ENVB) has announced that CEO Dr. Joseph Tucker will participate in the H.C. Wainwright BioConnect Conference scheduled for January 10-13, 2022. His corporate presentation will be available on-demand starting January 10. The company focuses on developing innovative mental health and oncology treatments using psychedelic-derived molecules and synthetic cannabinoids. Enveric aims to address conditions like cancer-related distress and PTSD, supporting drug development for millions of patients worldwide.
Enveric Biosciences (NASDAQ: ENVB) has appointed Dr. Bob Dagher as Chief Medical Officer, effective immediately. With over 20 years of clinical development experience in neurology and psychiatry, Dr. Dagher aims to advance the company's psychedelic-derived and synthetic cannabinoid treatments. His prior roles include Chief Medical Officer at WCG MedAvante-ProPhase and Cadent Therapeutics. Dr. Robert Wilkins, the previous CMO, stepped down on November 29, 2021. CEO Joseph Tucker emphasizes the importance of Dr. Dagher's expertise in driving Enveric's drug development programs.
Enveric Biosciences (NASDAQ: ENVB), a biotechnology firm focused on mental health and oncology, announced that Dr. Joseph Tucker, CEO, will present at the H.C. Wainwright 2nd Annual Psychedelics Conference on December 6, 2021. The presentation will be available on-demand starting at 7:00 a.m. ET. This conference aims to showcase innovative treatments derived from psychedelics and synthetic cannabinoids, with Enveric's research targeting conditions like cancer-related distress and PTSD. Attendees can register to watch and schedule one-on-one meetings with management.
Enveric Biosciences (NASDAQ: ENVB) announced promising preclinical results for its product EV102, aimed at treating radiodermatitis in cancer patients. In rodent models, EV102 demonstrated a nearly 50% reduction in skin redness and overall dermatitis severity, as well as a decrease in symptom duration. These findings are critical as radiodermatitis affects up to 95% of radiation therapy patients. The company plans to advance EV102 to a Phase I clinical study in the second half of 2022, underpinning its commitment to improving the quality of life for cancer patients.
Enveric Biosciences (NASDAQ: ENVB) announced its inclusion in the AdvisorShares Psychedelics ETF (PSIL), which targets biotech and pharma companies focusing on psychedelic treatments. This milestone is seen as a validation of Enveric's innovative platform for developing psychedelic and cannabinoid medicines aimed at addressing mental health issues and oncology treatments. CEO Joseph Tucker emphasized that this recognition will enhance their visibility within the investment community.
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