Why Are Enveric Biosciences Shares Climbing?
Portfolio Pulse from Ryan Gustafson
Enveric Biosciences (NASDAQ:ENVB) shares nearly doubled after receiving its second notice of allowance for a patent application related to its EVM201 series. The patent, likely to be issued soon, covers a composition of matter claims for a family of novel prodrug derivatives of psilocin.
May 24, 2023 | 5:41 pm
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Enveric Biosciences shares nearly doubled after receiving a second notice of allowance for a patent application related to its EVM201 series, indicating strong investor confidence in the company's intellectual property.
The news of Enveric Biosciences receiving a second notice of allowance for a patent application related to its EVM201 series has a direct impact on the company's stock price. This indicates strong investor confidence in the company's intellectual property and growth strategy, which is likely to drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100