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

In Thursday's pre-market session, several healthcare stocks showed significant movement. Enveric Biosciences, Societal CDMO, and NeuroBo Pharmaceuticals were among the top gainers, with Enveric Biosciences leading at a 162.3% increase. On the losing side, Ironwood Pharmaceuticals, Milestone Pharmaceuticals, and Butterfly Network saw notable declines, with Ironwood Pharmaceuticals dropping by 27.7%. Earnings releases influenced some of the stock movements.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 1:07 pm

Enveric Biosciences (NASDAQ:ENVB) has signed three non-binding term sheets with an undisclosed biotech company for the out-licensing of three classes of compounds from its drug portfolio for mental health treatments. These agreements include exclusive, royalty-bearing global licenses, cash buyout options, and future rights to related assets. The compounds, part of Enveric's over 1,000 novel molecules, are aimed at treating depression, anxiety, and addiction disorders. The potential licensing deals could bring Enveric up to $200 million in milestone payments and fees, plus royalties ranging from 2.5% to 10% on future sales.

Portfolio Pulse from Lara Goldstein

February 29, 2024 | 11:35 am

Enveric Biosciences Inc. (NASDAQ:ENVB) has agreed to sell a cancer-related patent portfolio, including patents in multiple countries and pending applications. This move allows Enveric to focus on developing treatments for mental health disorders, specifically with its candidates EB-003 and EB-002. The sale will support the company's investment in neuroplastogens for treating depression, anxiety, and addiction disorders.

Portfolio Pulse from Jelena Martinovic

February 23, 2024 | 6:51 pm

Enveric Biosciences' stock is trading higher following the announcement that the company has agreed to sell its cancer-targeting cannabinoid-related intellectual property.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 6:40 pm

Health care stocks experienced significant movements in Friday's intraday session, with Maravai LifeSciences leading the gainers after reporting Q4 earnings, and ModivCare heading the losers also following its Q4 earnings release. Other notable movers include Ocean Biomedical, Monopar Therapeutics, and Gyre Therapeutics on the gainers' side, and Venus Concept, SeaStar Medical Holding, and ImmunityBio among the losers.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 5:31 pm

In Friday's pre-market session, several healthcare stocks showed significant movement. Enveric Biosciences (ENVB) led the gainers with an 83.5% increase, while Venus Concept (VERO) experienced the largest drop among the losers, falling 24.2%. Notably, Maravai LifeSciences (MRVI), ModivCare (MODV), and Ardelyx (ARDX) reported their Q4 earnings, influencing their stock movements.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 1:06 pm

Enveric Biosciences has announced an agreement to sell its cancer-targeting cannabinoid-related intellectual property. This move could indicate a strategic shift or focus for the company, potentially impacting its future revenue streams and research directions.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 1:02 pm

Enveric Biosciences (NASDAQ:ENVB) has expanded its mental health-focused pipeline with a library of preclinical compounds sourced using its Psybrary platform and PsyAI system. The discovery includes compounds across seven molecule classes, offering at least 57 unique product opportunities, all protected by Enveric's intellectual property. These compounds, targeting various mental health disorders, represent potential out-licensing opportunities and non-dilutive revenue streams for Enveric. The company's stock closed at $0.87 on Tuesday.

Portfolio Pulse from Vandana Singh

February 21, 2024 | 1:01 pm

Enveric Biosciences announced that its novel compounds, protected under its intellectual property portfolio, offer potential licensing opportunities and non-dilutive revenue streams. This development could enhance the company's financial stability and growth prospects without diluting existing shareholders' equity.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 1:00 pm

Enveric Biosciences has announced the discovery of several novel compounds using its Psybrary platform and proprietary computational chemistry and AI drug discovery system. This advancement could potentially lead to the development of new treatments and expand the company's portfolio.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 1:00 pm

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