Enveric Biosciences shares are trading higher after the company announced it named EB-003 as its lead drug candidate from its next-generation EVM301 Series. The company plans to initiate preclinical development of EB-003 in early 2024.
Portfolio Pulse from Benzinga Newsdesk
Enveric Biosciences has announced EB-003 as its lead drug candidate from the EVM301 Series, with plans to start preclinical development in early 2024. Shares are trading higher following the news.
December 28, 2023 | 3:54 pm
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POSITIVE IMPACT
Enveric Biosciences' announcement of EB-003 as its lead drug candidate and the upcoming preclinical development has led to an increase in its stock price.
The positive market reaction to the announcement of a lead drug candidate typically indicates investor optimism about the company's future prospects. The initiation of preclinical development is a significant step forward in the drug development process, which can further increase investor confidence in the company's pipeline.
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IMPORTANCE 80
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