'Psychedelics-Inspired' Meds For Depression, Anxiety, Addiction Producer Trims Q1 Net Loss YoY, Increases Cash On Hand
Portfolio Pulse from Jelena Martinovic
Enveric Biosciences (NASDAQ:ENVB) reported a productive Q1 2024, reducing net loss and increasing cash on hand. The company advanced its lead drug candidate, EB-003, and executed seven non-binding out-license term sheets. Enveric's shares rose by 2.7919% to $0.81.
May 16, 2024 | 3:25 pm
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Enveric Biosciences reported a productive Q1 2024, reducing net loss and increasing cash on hand. The company advanced its lead drug candidate, EB-003, and executed seven non-binding out-license term sheets. Shares rose by 2.7919% to $0.81.
The reduction in net loss and increase in cash on hand are positive financial indicators. Advancing the lead drug candidate and executing out-license term sheets suggest strong future prospects. The immediate market reaction was a 2.7919% increase in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100