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) announced its definitive agreement to acquire MagicMed Industries, enhancing its portfolio with psychedelic-derived molecules for cancer and CNS therapies. The all-stock transaction involves approximately 9.9 million shares issued to MagicMed shareholders and is expected to close in the second half of 2021. Dr. Joseph Tucker, MagicMed’s CEO, will become Enveric’s CEO post-acquisition. Enveric aims to address cancer-related PTSD, leveraging MagicMed’s research capabilities and novel drug candidates. Additionally, Enveric will receive approximately $4 million CAD from MagicMed's treasury.
Enveric Biosciences (NASDAQ: ENVB) reported its financial results for Q1 2021, highlighting a net loss of $3.25 million and a significant increase in operating expenses to $6.76 million, up from $0.84 million in Q1 2020. The company raised $24.88 million through financing activities, primarily from the sale of common stock. With approximately $23 million in cash as of March 31, 2021, Enveric is positioned to initiate two critical Phase I/II trials for Glioblastoma Multiforme and Radiation Dermatitis later this year. Management changes include the appointment of a new CFO and enhancements to the Scientific Advisory Board.
Enveric Biosciences (ENVB) has appointed Dr. Arash Asher, Director of Cancer Rehabilitation at Cedars-Sinai, to its Scientific Advisory Board. Dr. Asher's expertise in managing chemotherapy-related side effects is expected to enhance the development of cannabinoid therapies aimed at improving cancer patients' quality of life. This appointment follows the board's first meeting on April 25, 2021, where they discussed clinical development plans for radiodermatitis and glioblastoma, emphasizing support for ongoing cannabinoid research.
Enveric Biosciences (NASDAQ:ENVB) announced that CEO David Johnson will present at the Planet MicroCap Showcase on April 21, 2021, at 9:00 a.m. ET. This virtual event aims to highlight the company's innovative cannabinoid medicines designed for cancer patients, particularly addressing issues like radiodermatitis and chemotherapy-induced neuropathy. Interested participants can register for the live presentation and access additional conference details through provided links. The company's commitment to patient-first solutions is emphasized throughout the announcement.
Enveric Biosciences (NASDAQ: ENVB), a biotechnology company focused on cannabinoid medicines for cancer patients, announced the appointment of Carter Ward as Chief Financial Officer effective May 15, 2021. He replaces John Van Buiten, who will continue in a consulting role. Mr. Ward brings over 30 years of experience in life sciences and capital markets. His prior role was CFO at Elite Pharmaceuticals, where he led successful capital raises and financial initiatives. Enveric has made strategic progress since going public in late December 2020.
Enveric Biosciences (NASDAQ: ENVB) reported its financial results for the year ending December 31, 2020, alongside updates on its 2021 progress. The company secured approximately $22.8 million in gross proceeds through two direct offerings, enabling accelerated research on cannabinoid therapies for cancer patients. Enveric acquired exclusive licenses for five molecules targeting pain and dermatology and entered a collaboration with PureForm. They aim to initiate pivotal clinical trials in supportive care markets, including glioblastoma and radiation dermatitis, in 2021.
Enveric Biosciences (NASDAQ: ENVB) announced the appointment of Dr. Douglas D. Lind to its board of directors on March 18, 2021. Dr. Lind brings over 30 years of experience in healthcare and finance, having worked as a physician and a senior equity research analyst. He co-founded Biomark Capital, focusing on ventures in oncology and medical imaging. CEO Dave Johnson expressed confidence that Dr. Lind's diverse background will contribute significantly to enhancing treatment options for cancer patients, especially in managing side effects from therapies.
Enveric Biosciences (NASDAQ:ENVB), a biotechnology firm focused on cannabinoid medicines for cancer patients, discussed its recent acquisition of an exclusive license from Diverse Biotech in a video interview with CEO David Johnson. This strategic move aims to develop new treatments for conditions like radiodermatitis and chemotherapy-induced neuropathy. Enveric is dedicated to improving patient quality of life through rigorously tested innovations. The company continues to highlight its commitment to the cancer patient community through these advancements.
Diverse Biotech has finalized a strategic transaction with Enveric Biosciences, granting exclusive global rights to develop and commercialize five novel compounds targeting adverse side effects from cancer treatments. The deal includes an undisclosed upfront payment and future royalties on sales. Diverse Biotech utilizes a sophisticated drug discovery platform, leveraging cannabinoids to create new drug candidates that may offer enhanced efficacy and reduced side effects compared to current therapies. This collaboration aims to expedite the availability of these treatments for oncology patients.
Enveric Biosciences (NASDAQ: ENVB) announced that CEO David Johnson will speak at two virtual investor conferences in March 2021. The first is the M Vest and Maxim Group Emerging Growth Conference on March 18, 2021, and the second is the Benzinga Biotech Small Cap Conference on March 25, 2021, where he will present at 12:30 p.m. ET and participate in a panel discussion at 11:40 a.m. ET. The company focuses on developing cannabinoid medicines aimed at improving cancer patients' quality of life, addressing conditions like radiodermatitis and chemotherapy-induced neuropathy.
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