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) and Aries Science & Technology have announced a licensing agreement for the clinical development of Enveric's patented radiation dermatitis topical product. This condition affects approximately two million cancer patients annually, with a market opportunity estimated at $400 million. The agreement includes potential milestone payments of up to $61 million and tiered royalties ranging from 2.5% to 10% on future sales for Enveric. Aries has nominated Dr. Hari Harikumar as Chairman-elect of a subsidiary formed to advance this opportunity. This partnership allows Enveric to focus on neuropsychiatric indications while Aries develops the cancer support care product.
Enveric Biosciences announces that the United States Patent and Trademark Office has granted Patent No. 11,945,778 for its drug candidate EB-002. This new patent expands Enveric’s intellectual property by covering methods of treatment for a broad range of brain neurological disorders including sleep disorders, depression, substance-related disorders, and headaches.
EB-002, a next-generation psilocin prodrug initially developed for neuropsychiatric disorders such as anxiety, now holds three US patents covering its compositions, formulations, and methods of treatment. CEO Joseph Tucker highlights that this enhanced patent protection will help accelerate EB-002's clinical development and broaden its applicability to a wider patient population.
Enveric Biosciences (NASDAQ: ENVB) has announced that it is prioritizing the development of its novel neuroplastogenic molecule, EB-003. EB-003 is designed to treat severe mental health disorders such as depression, anxiety, and addiction without causing the hallucinogenic effects often associated with psychedelic-based treatments. The company is advancing pre-clinical development and plans to meet with the FDA for a Pre-IND discussion in early 2025. EB-003 aims to overcome key issues identified by the FDA's advisory committee regarding hallucinogenic psychedelics, such as 'expectation bias' and the need for psychotherapy co-administration. Early data shows EB-003 can bind to the 5-HT2A receptor and induce neuroplasticity without significant hallucinogenic side effects in animal models, paving the way for further human clinical studies.
Enveric Biosciences (NASDAQ: ENVB), a company focused on developing innovative neuroplastogenic small-molecule therapeutics for treating depression, anxiety, and addiction disorders, announced its participation in the 2024 BIO International Convention. The event takes place in San Diego, CA, from June 3-6, 2024. Enveric aims to engage with potential investment and development partners to explore collaborations for its promising drug candidates. CEO Joseph Tucker emphasized the significant interest from strategic partners in the pharmaceutical industry for Enveric's drug discovery assets.
Enveric Biosciences (NASDAQ: ENVB) reported financial and corporate results for the first quarter of 2024, ending March 31. The company unveiled seven classes of novel drug candidates from its Psybrary™ and PsyAI™ platforms. A business development campaign resulted in seven non-binding term sheets with four strategic partners, potentially totaling $410 million in milestone payments plus future royalties. Enveric's lead drug candidate, EB-003, is advancing towards an IND application and Phase 1 clinical trial. Proceeds from warrant exercises and investment options raised $4.5 million. The company's net loss for Q1 2024 was $2.46 million, with cash-on-hand at $6.36 million.
Enveric Biosciences, Inc (ENVB) signed a non-binding term sheet with an undisclosed biotechnology company for the exclusive license to patented methods of treating breast and other cancers using cannabinoids in combination with chemotherapeutic drugs. The licensee will receive an exclusive global license, assume responsibility for development, and pay Enveric up to $61 million in milestones and royalties. The agreement aims to advance novel treatment regimens for cancer patients, with a potential impact on breast and other cancer treatments.
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