Streetbeat News

ENVB

Enveric Biosciences, Inc.

https://www.enveric.com

Industry

Biotechnology

Enveric Biosciences, Inc., a pharmaceutical company, engages in developing various cannabinoid medicines for cancer care. Its products pipeline includes EV104 for the treatment of osteoarthritis; EVM-101 and EVM-201 for the treatment of cancer related distress; EVM-301 for the treatment of mental health indication; EV102, a cannabinoid cream for topical skin application; and EV101, a cannabinoid and chemotherapy combination therapy. Enveric Biosciences, Inc. is headquartered in Naples, Florida.

Open

0.48

Mkt cap

4.2M

Volume

501K

High

0.53

P/E Ratio

-0.14

52-wk high

2.92

Low

0.46

Div yield

N/A

52-wk low

0.36

Enveric Biosciences (NASDAQ:ENVB) reported a Q1 2024 GAAP EPS of $(0.61), beating the analyst consensus estimate of $(0.78) by 21.79%.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 10:11 am

Enveric Biosciences (NASDAQ:ENVB) has signed a non-binding term sheet with MindBio Therapeutics to out-license a class of Novel Psilocin Prodrugs for treating neuropsychiatric conditions. The deal could lead to MindBio advancing a drug candidate, with potential payments to Enveric up to $66.5 million plus royalties. This partnership aims to leverage psychedelic-based compounds for neuropsychiatric treatments, highlighting the synergy between Enveric's molecular discovery and MindBio's innovative approach.

Portfolio Pulse from Nina Zdinjak

May 14, 2024 | 12:00 pm

In Wednesday's pre-market session, health care stocks showed significant movement with Repare Therapeutics, Enveric Biosciences, Clover Health Investments, Envoy Medical, Myriad Genetics, and CEL-SCI posting gains, while Treace Medical Concepts, Inspire Medical Systems, Immuron, Semler Scientific, Nuwellis, and OPKO Health reported losses. Most movements were influenced by the release of Q1 earnings.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 12:06 pm

Enveric Biosciences (NASDAQ:ENVB), a psychedelics biotech firm, has signed a $61M non-binding term sheet for exclusive licensing of two patented methods using cannabinoids with chemotherapy for cancer treatment. The licensee, undisclosed, will handle all future development, with Enveric receiving up to $61M plus 2.5% to 10% royalties on sales. This deal highlights Enveric's discovery capabilities and its potential in advancing cancer treatments.

Portfolio Pulse from Nina Zdinjak

May 08, 2024 | 11:06 am

Ulta Beauty, Inc. (ULTA) shares fell by 13.7% following a weak outlook presented at the J.P. Morgan Retail Roundup. Other stocks experienced significant movements, with ARCA biopharma, Inc. (ABIO) and Kintara Therapeutics, Inc. (KTRA) seeing substantial gains due to merger agreements. Vanda Pharmaceuticals Inc. (VNDA) and VivoPower International PLC (VVPR) also saw notable increases. On the downside, Casa Systems, Inc. (CASA) and View, Inc. (VIEW) plummeted after filing for Chapter 11 bankruptcy.

Portfolio Pulse from Avi Kapoor

April 03, 2024 | 5:56 pm

In Wednesday's pre-market session, several healthcare stocks showed significant movement. ARCA biopharma, Kintara Therapeutics, and Aesthetic Medical Intl were among the top gainers, with increases of 124.6%, 99.2%, and 53.03% respectively. On the losing side, SINTX Techs, Tenon Medical, and Acorda Therapeutics experienced declines of 21.0%, 16.42%, and 11.61%. The movements were attributed to various factors including recent earnings reports.

Portfolio Pulse from Benzinga Insights

April 03, 2024 | 12:09 pm

In Tuesday's after-market session, several health care stocks showed significant movement. OneMedNet (ONMD) led the gainers with a 75.9% increase, while Enveric Biosciences (ENVB) experienced the largest drop among the losers, decreasing by 14.1%. Notably, companies like GlycoMimetics (GLYC), Acorda Therapeutics (ACOR), and Imunon (IMNN) had recent earnings reports influencing their stock movements.

Portfolio Pulse from Benzinga Insights

April 02, 2024 | 8:31 pm

Beckley Psytech and atai Life Sciences announced positive results from a Phase 2a study of 5-MeO-DMT for Treatment Resistant Depression. Utah hospitals will soon offer psilocybin and MDMA therapy. Elon Musk discussed the benefits of ketamine for depression and its positive impact on investors. Meta is under investigation for potentially facilitating illegal drug sales. MindMed's CEO highlighted LSD's potential in a podcast. Various companies and ETFs are mentioned with their stock performance.

Portfolio Pulse from Lara Goldstein

March 29, 2024 | 4:43 pm

Enveric Biosciences (NASDAQ:ENVB) reported its Q4 and fiscal year 2023 financial results, showing a decrease in cash, R&D, G&A, and total operating expenses compared to 2022. The company also reported a smaller net loss for both the quarter and the year. Enveric completed a warrant inducement transaction, raising $4.5 million. The company is advancing two drug candidates, EB-003 and EB-002, targeting mental health conditions, with plans to file regulatory applications in Australia and the U.S. Enveric discovered over 1,000 psychedelic-inspired compounds and strengthened its IP portfolio with ten new U.S. patents. It also signed term sheets for potential revenue of $261 million from out-licensing compounds.

Portfolio Pulse from Lara Goldstein

March 27, 2024 | 12:59 pm

Cybin Inc. received FDA Breakthrough Therapy designation for its psilocybin therapy for Major Depressive Disorder, alongside positive clinical data and a $150M private placement. MindMed also received the designation for its LSD-derived treatment for Generalized Anxiety Disorder, with expected proceeds of $175M from share offerings. Gilgamesh Pharmaceuticals was awarded a $14M grant for ibogaine analog research. Psyence Biomedical, Red Light Holland, and Clearmind Medicine were mentioned for their developments in psychedelics. The article also covered stock performances of several psychedelics companies.

Portfolio Pulse from Lara Goldstein

March 20, 2024 | 6:49 pm

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