Nasdaq: ENVB Profile

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OUR NEW PROFILE IS:    (NASDAQ: ENVB)

  • ENVB is a NASDAQ Biotech that needs to get its stock price over $1 asap
  • ENVB has $21.6 million in the treasury and very little debt with just $2 million in total liabilities. The Company trades at a $13 million market cap.
  • ENVB intuitional investors own 9.8 million shares including Citadel, T Rowe Price and the Vanguard Group.
  • Enveric screens newly synthesized molecules in the Psybrary™ through its PsyAI™, a proprietary artificial intelligence (AI) tool. 
  • Enveric is adding novel psychedelic molecular compounds through its work at Enveric Labs in Calgary, Alberta where it has a team of PhD scientists. To date ENVB has created over 500 molecules that are housed in the Psybrary. 
  • ENVB intends to utilize its Psybrary™ and the AI tool to categorize and characterize the Psybrary™ substituents to focus on bringing more psychedelics-inspired molecules from discovery to the clinical phase. 
  • Enveric is working with the University of Calgary’s Hotchkiss Brain Institute (“HBI”) to establish a groundbreaking clinical trial of EVM-101 for the treatment of Cancer Related Distress (“CRD”). 
  • Enveric is developing more effective treatments for cancer patients living with psychological distress and is currently working on three classes of new medicines: EVM-101, a first-generation oral psi-lo-cybin; EVM-201, a second-generation pro-dr-ug; and EVM-301, a third-generation psych-e-delic-inspired and optimized new molecule.  
  • On June 1, 2022 Alliance Global Partners initiated coverage on Enveric Biosciences, Inc. (ENVB) with a $1.25 Price Target  
  • Enveric current academic and industry partners include Tikun Olam Ltd., St. George’s University of London, The Soroka Medical Cancer Center, and the University of Calgary. 
  • Enveric is currently working to advance a pipeline of novel cannabinoid combination therapies for hard-to-treat cancers, including glioblastoma multiforme (GBM) and several other indications. 
  • ENVB is in the process of creating A MASSIVE PROPRIETARY DATABASE of modified molecules which they refer to as the “psybrary.” 

For more on ENVB go here: https://www.enveric.com/

INTERVIEW WITH ENVB CEO DR. JOSEPH TUCKER
__________________________________

Hello Everyone,

We have an exciting nasdaq biotech in our crosshairs for tomorrow’s session.

Our Nasdaq Biotech is Enveric Biosciences Inc (NASDAQ: ENVB)

ENVB has a compelling chart setup: this is a NASDAQ listed Company that needs to get its stock price over $1 asap. ENVB used to trade at much higher levels and spiked over $10 per share in December 2020. Last week ENVB reversed off 52-week lows of $0.17 and quickly ran to $0.37 before another brief dip below $0.20 per share. Now moving up steadily ENVB was up again today on a significant surge of volume trading over 6 million shares. 

Enveric Biosciences, Inc. Merger Prospectus/Communication 425Enveric Biosciences Inc(NASDAQ: ENVB) is an early-development-stage biosciences company developing next-generation mental health and oncology treatments using its clinical discovery platform to help leverage psychedelic-derived molecules for the mind and synthetic cannabinoids for the body. The Company seeks to improve the lives of patients suffering from cancer, initially by developing palliative and supportive care products for people suffering from certain side effects of cancer and cancer treatment such as anxiety, depression, pain, and skin damage from radiation treatment. Enveric currently intends to offer such palliative and supportive care products in the United States, following approval through established regulatory pathways.

Privately Owned MagicMed Industries Inc. is Psyched to Join Forces with Public Pharma Co. EnvericEnveric acquired MagicMed; a Company that develops and commercializes psychedelic-derived pharmaceutical candidates.MagicMed’s psychedelic derivatives library, the Psybrary™, is an essential building block from which industry can develop new patented products. The initial focus of the Psybrary™ is on psilocybin and DMT derivatives, and it is then expected to be expanded to other psychedelics.

Following the MagicMed acquisition the Company continued to pursue the development of MagicMed’s proprietary psychedelic derivatives library, the Psybrary™ which the Company believes will help it identify and develop the right drug candidates needed to address mental health challenges, including cancer-related distress. Enveric synthesize novel versions of classic psychedelics, such as psilocybin, N-dimethyltryptamine (DMT), mescaline and MDMA, using a mixture of chemistry and synthetic biology, resulting in the expansion of the Psybrary™, which includes 15 patent families with over a million potential variations and hundreds of synthesized molecules. Within the Psybrary™ there are three different types of molecules, Generation 1 (classic psychedelics), Generation 2 (pro-drugs), and Generation 3 (new chemical entities). The Company is working to add novel psychedelic molecular compounds and derivatives (“Psychedelic Derivatives”) on a regular basis through its work at Enveric Labs in Calgary, Alberta, Canada, where it has a team of PhD scientists with expertise in synthetic biology and chemistry. To date Enveric has created over 500 molecules that are housed in the Psybrary.

Enveric Biosciences - Home | FacebookEnveric screens newly synthesized molecules in the Psybrary™ through PsyAI™, a proprietary artificial intelligence (AI) tool. Leveraging AI systems is expected to reduce the time and cost of pre-clinical, clinical, and commercial development. Management believes it streamlines pharmaceutical design by predicting ideal binding structures of molecules, manufacturing capabilities, and pharmacological effects to help determine ideal drug candidates, tailored to each indication. Each of these molecules that ENVB believes are patentable can then be further screened to see how changes to its makeup alter its effects in order to synthesize additional new molecules.New compounds of sufficient purity are undergoing pharmacological screening, including non-clinical (receptors/cell lines), preclinical (animal), and ultimately clinical (human) evaluations. ENVB intends to utilize its Psybrary™ and the AI tool to categorize and characterize the Psybrary™ substituents to focus on bringing more psychedelics-inspired molecules from discovery to the clinical phase.

ENVB is looking to help solve cancer related distress for millions of patients.

Enveric is working with the University of Calgary’s Hotchkiss Brain Institute (“HBI”) to establish a groundbreaking clinical trial of EVM-101 for the treatment of Cancer Related Distress (“CRD”). Better still, Enveric is discovering and developing more effective treatments for cancer patients living with psychological distress and is currently working on three classes of new medicines: EVM-101, a first-generation oral psi-lo-cybin; EVM-201, a second-generation pro-dr-ug; and EVM-301, a third-generation psych-e-delic-inspired and optimized new molecule. (18)

5 Powerful Reasons to look at Enveric Biosciences NASDAQ: ENVB

  1. Two letters. A.I. Enveric has 14 patents for AI-powered therapies that could turn the global pharmaceutical industry on its head! (1)
  2. The most successful trader of all time, Jim Simons’ Renaissance Group has taken an interest in the company. As well as Wall Street heavy hitters Blackrock, the Vanguard Group, Citadel, and others.(15)
  3. Enveric’s Radiation Dermatitis (RD) cann-a-binoid based solution is well on its way to opening up an enormous market opportunity.(12)
  4. Because its therapies are patent protected, they can be licensed out to fund further R&D for even greater streams of revenue.
  5. On June 1, 2022 Alliance Global Partners initiated coverage on Enveric Biosciences, Inc. (ENVB) with a $1.25 Price Target 

Enveric is also aiming to advance a pipeline of novel cannabinoid combination therapies for the side effects of cancer treatments, such as chemotherapy and radiotherapy. The Company intends to bring together leading oncology clinicians, researchers, academic and industry partners to develop both external proprietary products and a robust internal pipeline of product candidates aimed at improving quality of life and outcomes for cancer patients.

Enveric owns full rights to 16 patent applications related to psychedelics. Of those, 10 patent applications relate to psilocybin derivatives, methods of making psilocybin derivatives, and methods for treatment of mental disorders, such as cancer-related distress, PTSD, and other psychiatric conditions; 1 patent application relates to prodrugs of psilocin; and 5 patent applications related to mescaline derivatives and methods of using mescaline derivatives. 

ENVB Exclusive Supply Agreement

Enveric entered into an exclusive supply agreement with PureForm Global, Inc., a biotechnology company focused on the research, development, and commercialization of synthesized CBD and other cannabinoids not derived from hemp or cannabis, for use in development and commercialization of products for cancer supportive/palliative care associated with radiodermatitis, chemotherapy induced peripheral neuropathy, and glioblastoma. Pursuant to the Development and Clinical Supply Agreement, PureForm will be the exclusive provider of synthetic Cannabidiol for Enveric’s development plans for cancer treatment and supportive care. Under the terms of the Development and Clinical Supply Agreement, PureForm has granted Enveric the exclusive right to purchase Synthetic Cannabidiol and related products for cancer treatment and supporting care.

Enveric current academic and industry partners include Tikun Olam Ltd.,  St. George’s University of London, The Soroka Medical Cancer Center, and the University of Calgary.

Enveric is currently working to advance a pipeline of novel cannabinoid combination therapies for hard-to-treat cancers, including glioblastoma multiforme (GBM) and several other indications. For the treatment of Glioblastoma Multiforme (GBM), ENVB believes only one drug product (Epidiolex, developed by GW Pharmaceuticals) is a potential late-stage competitor to its GBM product candidate, EV101: Cannabinoid + Chemotherapy Combination Therapy. Other than Epidiolex, the Company is aware of exploratory research into the effects of cannabinoid drug formulations. Enveric is also aware of discovery research within the pharmaceutical industry into synthetic agonists and antagonists of CB1 and CB2 receptors, as well as companies that supply synthetic cannabinoids and cannabis extracts to researchers for pre-clinical and clinical investigation, and various companies that cultivate cannabis plants with a view to supplying herbal cannabis or non-pharmaceutical cannabis-based formulations to patients. These therapies have not been approved by the FDA.

Patients suffering from GBM in the U.S. are treated with a variety of FDA-approved products, including, but not limited to, Bevacizumab, Carmustine Implant, Lomustine, and Temozolomide. Enveric potential competitors regarding the GBM product candidate include pharmaceutical and biopharmaceutical companies such as Pfizer, Genentech, Arbor Pharmaceuticals, Next Source Pharmaceuticals, and Merck, among others, depending on when the candidate is approved for commercialization.

Enveric radiation dermatitis (also referred to as radiodermatitis) product candidate, EV102: Cannabinoid Cream for Topical skin Application, faces competition from Lutric Pharma, which has a topical B-Raf Inhibitor in Phase 1/2 studies that is intended to treat radiation dermatitis.

ENVB PRODUCT DEVELOPMENT

Product Candidates

ENVB pipeline of product candidates and key ongoing development programs are shown in the tables below:

Product Candidate Targeted Indications Partner(s) Status Expected Next Steps
EV104: CBD + Celecoxib Conjugate Osteoarthritis Research & Development, Lead Optimization Synthesis of two molecular conjugates EV104a and EV104b
EVM-101

 

First-generation psychedelic asset: psilocybin oral formulation

Cancer Related Distress (CRD) Leading cancer research centers in Canada and US member of the National Comprehensive Cancer Network (NCCN) Currently under evaluation;

Research & Development / Discovery

Exploratory Phase 1/2 trial
EVM-201 Second-generation psychedelic asset: prodrug of psilocin Cancer Related Distress (CRD) Research & Development, Lead Optimization In-vitro and in-vivo experimentation
EVM-301 Third-generation psychedelic-inspired new chemical entity Mental health indication Research & Development, Hit-to-Lead Generation In-vitro experimentation
EV102: Cannabinoid Cream for Topical skin Application Radiation Dermatitis (aka radiodermatitis), a radiotherapy-induced skin dermatitis U.S.-Based leading cancer center, member of the National Comprehensive Cancer Network (NCCN) Research & Development / IND-enabling studies in planning IND submission; Phase 1/2 clinical trial
EV101: Cannabinoid + Chemotherapy Combination Therapy Oral synthetic CBD extract given alone or in combination with clomiphene, concurrently with dose-dense Temolozomide chemotherapy Glioblastoma Multiforme

 

Recurrent or progressive

Dr. Tali Siegal,

 

Rabin Medical Center, Davidoff Institute of Oncology

Research & Development / Discovery Exploratory Phase 1/2 trial

Half a million atoms lined up shoulder to shoulder could hide behind a human hair. But the power they can unleash is mind-boggling. Now just a few tiny atoms fit in a single molecule. And a few molecules combined in a precise way could unleash a tsunami of healing and profits the world has never seen. THIS is the new frontier of biotechnology.

Which leads us to this tiny $13 million (approx. as of June 29, 2022) market cap company, Enveric Biosciences (NASDAQ:ENVB). ENVB is making moves with its AI-Powered cancer-related and mental health meds. All developed and patented to the tiniest molecular level. PLUS they are most likely the ONLY biotech with both psy-che-delics and cann-a-binoids listed on the major markets.

ENVB: COMBINING THE 2 HOTTEST MARKETS IN THE BIOTECH INDUSTRY

What if there was a company doing something possibly no other biotech is doing that can exponentially supercharge the industry? Enveric Biosciences is combining the booming demand for both cann-a-binoid medicines and psy-che-delics. The cann-a-bis industry has established itself as one of the fastest-growing investment opportunities on the planet.Now investors are turning their attention and capital to phychedelics

In 2020, 7.3 million people were prescribed antidepressants in England alone, accounting for 17% of the adult population.(6) However, it is estimated that only one-third of people with depression actually benefit(7) from the antidepressant they are prescribed.

In the first direct head-to-head trial comparing psi-lo-cybin with traditional antidepressants, psi-lo-cybin was found to be as effective as (8) the leading selective serotonin reuptake inhibitor (SSRI), with significantly lower rates of relapse post-treatment.

With this in mind, it’s only a matter of time before big pharma begins to add psy-che-delics into their offering. The market potential here is enormous!

It’s catching fire with people like Kevin O’Leary…

Enveric Biosciences Active In Groundbreaking Cancer-Related Clinical Trials PLUS Filed Their 10th Patent Application

Cancer continues to be the second most common cause of death in the US, after heart disease. A total of 1.9 million new cancer cases and 609,360 deaths from cancer are expected to occur in the US in 2022, which is about 1,670 deaths a day. And approximately 50% of cancer patients report clinical levels of psychological distress having depressed mood, anxiety, demoralization, stress-induced clinical manifestations, and reduced quality of life.(17)

Looking to help solve cancer related distress for millions of patients.

Enveric is working with the University of Calgary’s Hotchkiss Brain Institute (“HBI”) to establish a groundbreaking clinical trial of EVM-101 for the treatment of Cancer Related Distress (“CRD”). Better still, Enveric is discovering and developing more effective treatments for cancer patients living with psychological distress and is currently working on three classes of new medicines: EVM-101, a first-generation oral psi-lo-cybin; EVM-201, a second-generation pro-dr-ug; and EVM-301, a third-generation psych-e-delic-inspired and optimized new molecule. (18)

More Patents. More Profit Potential to Help Accelerate Innovation

Without the potential for patent profits, there would be no reward for innovative ideas that lead to beneficial products. Enveric’s next generation molecules are the technological advances that can help make life better. And these patented molecules can help pharmaceutical companies develop new dr-ugs that can prolong life and provide cures to diseases that affect people worldwide. On March 15, 2022, Enveric announced that their first four Patent Cooperation Treaty (PCT) applications for the tryptamine family of novel molecules were published by the World Intellectual Property Organization (WIPO).(18)

Trypt-a-mine molecules are being investigated worldwide as potential treatments for a broad range of psychiatric and neurologic disorders, including mood and anxiety disorders, post-traumatic stress disorder, cancer-related distress and more. With a number of potential catalysts on the horizon, let’s take a closer look at Enveric Biosciences (NASDAQ: ENVB)

Enveric Biosciences’ AI-Powered Meds Address The Mind with Psy-che-delics, and the Body with Cann-a-binoids

This is what makes Enveric so unique. They are perhaps the ONLY publicly traded company that combines both psy-che-delics and cann-a-binoids. The company sees the big opportunity in psy-che-delics next generation molecules. They’ve taken the traditional pharma model and made it better by creating end products that work better, with less side effects, that can potentially get to far more patients. In fact they are in the process of creating A MASSIVE PROPRIETARY DATABASE of modified molecules which they refer to as the “psybrary.”

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In terms of the cann-a-binoid market the big play right now is Radiation Dermatitis (RD). This is one of the most common side effects of cancer radiotherapy, afflicting an incredible 95% of patients receiving radiotherapy. And the potential market? How about a head-spinning $1 billion opportunity!!
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Please understand: ENVB has filed 14 patents already

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Enveric Biosciences Announces Spinoff

ENVB Strategic Rationale for Spinoff

Tweets with replies by Enveric Biosciences (@Enveric_Bio) / TwitterThe Company believes that spinning off the cannabinoid assets will allow Enveric and Acanna to maximize long-term value for all stakeholders. Following the proposed transaction, both Enveric and Acanna intend to: (20) characteristics of interest to the capital markets. (20)

Renaissance Technologies hedge fund holds a large stake in ENVB. The fund has established the best record on Wall Street, averaging a mind-blowing 66% annual return for over 30 years! Jim Simons can also be known as the man who started the Quant trading revolution. He successfully took the emotional factor out of trading to focus solely on the numbers and their patterns, and the rest is history.

Jim
Source 12

Their NEW Target is NASDAQ: ENVB – Here’s Why You’ll Want to Pay Close Attention

According to Simply WallStreet, Renaissance has a healthy position in ENVB – in fact, as of the end of March 2022, they upped their stake by a whopping 259.25%, making them the 3rd largest shareholder.(14) But they’re not the only ones. Enveric’s investor roster is a veritable “Who’s Who” of Wall Street’s most elite firms, including heavy hitters like:
Why did they buy in? We can imagine they see the value and of course understand where the future potentially lies in terms of bioscience. As you can see combined, these companies hold over 9.8 million shares as of March 31, 2022! In fact, institutions own a whopping 18.6% of all shares as of March 31, 2022 – that’s some serious interest in ENVB.

These types of sharks only show up when they smell “blood in the water.” And it’s clear to see why Enveric appears so compelling for big-money firms …

Enveric provides the opportunity to develop, patent and market a whole new library of bioengineered remedies. There are countless new companies working with psy-che-delics and cann-a-binoids. They’re popping up faster than magic mush-rooms these days. And every single one of those companies is working with the same biologics—effectively sharing their best IP with the rest of the world.

Enveric’s AI-Powered Process Effectively Changes All That 

New therapies can be patented and protected. They can be licensed to fund future Research & Development. Which means that Enveric, unlike practically every competing company, has the ability to develop a scalable, real-world pipeline for delivering massive revenues. Given these circumstances, and the company’s unique advantages, Enveric Biosciences NASDAQ: ENVB is a name that should absolutely be on your watchlist …

5 Powerful Reasons to look at Enveric Biosciences NASDAQ: ENVB

  1. Two letters. A.I. Enveric has 14 patents for AI-powered therapies that could turn the global pharmaceutical industry on its head! (1)
  2. The most successful trader of all time, Jim Simons’ Renaissance Group has taken an interest in the company. As well as Wall Street heavy hitters Blackrock, the Vanguard Group, Citadel, and others.(15)
  3. Enveric’s Radiation Dermatitis (RD) cann-a-binoid based solution is well on its way to opening up an enormous market opportunity.(12)
  4. Because its therapies are patent protected, they can be licensed out to fund further R&D for even greater, perhaps billions, in added streams of revenue.
  5. On June 1, 2022 Alliance Global Partners initiated coverage on Enveric Biosciences, Inc. (ENVB) with a $1.25 Price Target 

ENVBENVB has a compelling chart setup: this is a NASDAQ listed Company that needs to get its stock price over $1 asap. ENVB used to trade at much higher levels and spiked over $10 per share in December 2020. Last week ENVB reversed off 52-week lows of $0.17 and quickly ran to $0.37 before another brief dip below $0.20 per share. Now moving up steadily ENVB was up again today on a significant surge of volume trading over 5 million shares.

ENVB Released news today:

Enveric Biosciences Advances Drug Development for Mental Health Indications and Intellectual Property Portfolio 

— Advancing to IND-enabling studies with multiple drug candidates — 

— Enveric’s Growing Patent Portfolio Validated — 

CAMBRIDGE, Mass., July 13, 2022–(BUSINESS WIRE)–Enveric Biosciences, Inc. (NASDAQ: ENVB) (“Enveric” or the “Company”), a neuroscience-focused biotechnology company developing next-generation, psychedelic-inspired mental health medicines, today revealed drug discovery and development progress targeting mental health indications and intellectual property (IP) advances achieved during the first half of 2022. 

“The first half of 2022 was foundationally successful for Enveric. We validated and executed on the corporate premise that we can deploy PsyAITM, our proprietary artificial intelligence tool, and PsybraryTM, our expanding proprietary portfolio of new chemical entities and drug candidates, to design and improve upon new drug molecules inspired by legacy psychedelic drugs,” said Dr. Joseph Tucker, PhD, Enveric’s Chief Executive Officer. 

“Enveric is pleased to advise that our predictions have materialized, and our platforms have successfully generated a large number of promising new molecules that have successfully passed primary screening and moved on to lead optimization, providing us with a strong slate of drug candidates. Our leading program, EVM-201, includes a number of new molecules currently in lead optimization that are geared towards providing improved characteristics and drug-like properties compared with psilocybin. The successful outcomes from our testing efforts completed in the first half of 2022 have positioned the company very well to advance our drug candidates towards the clinic,” continued Dr. Tucker. 

Clinical-Need Driven 

Based on extensive direct clinical understanding of the current unmet needs in anxiety, depression, PTSD, and other mental health indications, coupled with in-depth knowledge of the current treatment landscape, Enveric’s Clinical Team is well positioned to tackle the challenges ahead, while aiming to shepherd novel new treatments for a host of mental health indications. 

Enveric’s Clinical Team is led by a past Board-certified psychiatrist and clinical trialist Chief Medical Officer, Dr. Bob Dagher, MD. Dr. Dagher joined Enveric in December 2021, bringing a wealth of clinical trial management and new CNS-drug development experience from his past roles, including at WCG, Cadent, Covance, Sanofi and GSK, in addition to his first-hand experience in treating patients from his previous clinical practice in psychiatric medicine. 

Next-Generation Drug Discovery 

Enveric’s Discovery Team, spearheaded by Chief Innovation Officer Dr. Peter Facchini, PhD, an international leader in natural product biochemistry and biotechnology, completed the rational design of more than 300 Generation-2 (“Gen-2”) psilocin prodrug candidates using well-established design strategies, but adapted to the unique structure of psilocin. 

The 300 Gen-2 original concept designs, now housed within the PsybraryTM, were screened using PsyAITM. The assessment helped predict chemical structures with appropriate receptor binding, toxicology, and pharmacokinetic profiles that would trigger the desired mechanisms of action while reducing undesirable side effects, and the initial candidate evaluation included, among other metrics, prodrug-likeness, toxicity, ease of chemical synthesis and degree of IP-white space surrounding the molecule. 

Ranked scoring of these and other AI assessments, as well as commercial considerations (e.g., ease of procuring synthetic starting materials), prioritized 31 novel Gen-2 molecules that have been synthesized in sufficient quantities (~10 mg, 95% purity) for preliminary pharmacological screening. Enveric’s Chemistry Group, led by Dr. Kaveh Matinkhoo, PhD, completed these syntheses, 29 of which were deemed stable enough to advance. 

Deep-dive chemical structure searches, patentability, and freedom-to-operate reviews were performed on all 29 candidates, under the leadership of Lead Internal Counsel C. Michael Gegenheimer. All the patentability analyses indicated potential patentability results, and 25 of the 29 molecules presented minimal concern with freedom to operate. 

To strengthen the IP protection for the overall Gen-2 prodrug program, three provisional patent applications, covering 7 structurally diverse clinical classes and thousands of additional potential new drug candidates, have been filed so far in 2022, and additional provisional and PCT filings are expected to continue throughout the year. 

In other IP developments, an additional three of Enveric’s international patent applications protecting tryptamine derivatives have been published by the World Intellectual Property Organization, bringing the total published so far to seven. 

EVM-201 Drug Candidate Testing 

Following the initial Gen-2 ideation, patent filing, synthesis, and screening efforts, more extensive assays were performed on the advancing drug candidates. Numerous internal assays were performed under the leadership of Dr. Jill Hagel, PhD, Vice-President of Innovation and Dr. Sheetal Raithatha, PhD, Director of Research and Development. The internal results were then confirmed and validated using leading independent, third-party Contract Research Organizations (CROs), covering 122 Toxicology tests, 72 receptor-binding and potency tests, 31 pharmacokinetic tests and 24 animal-model tests to provide ample information to support candidate nomination. 

The synthesis and analysis of these comprehensive pharmacology and toxicology datasets, both internal and external, was led by Dr. Kevin Leach, PhD DABT, Vice President of Preclinical and Translational Research. Enveric is now moving towards lead-candidate nomination and, in preparation for IND filing, has initiated numerous IND-enabling studies on several of the leading candidates at third-party CROs. 

Recognizing the need for stable drugs with robust, reproducible, and cost-effective manufacturing, several Contract Development & Manufacturing Organizations (CDMOs) are currently engaged with Enveric’s Chemistry Team to determine how best to manufacture our molecules. Enveric has plans in place to produce material at commercial facilities and the CDMO personnel have worked with our chemists to validate that our processes will work at their facilities. This is another necessary step prior to filing the IND. Finally, preliminary formulation work is underway, with a particular focus on enabling improved routes of administration. 

“The first half of the year has indeed been busy and productive for the dedicated team here at Enveric. We are all very excited at how those efforts have begun to bear fruit. We look forward to advising our shareholders of further key developments, which we anticipate will continue to unfold during the remainder of 2022,” concluded Dr. Tucker. 

Enveric Biosciences Reports Full-Year 2021 Financial Results and Provides Business Update 

NAPLES, Fla., March 31, 2022 /PRNewswire/ – Enveric Biosciences Inc. (NASDAQ: ENVB) (“Enveric” or the “Company”), a neuroscience-focused biotechnology company developing next-generation, psychedelic-inspired mental health medicines, today reported its financial results for the full year ended December 31, 2021, and provided a business update. 

“2021 was a foundational year that set the stage for Enveric to execute on its strategy in the future,” said Dr. Joseph Tucker, Enveric’s Chief Executive Officer. “With the acquisition of MagicMed in September 2021, we immediately began moving forward with the clinical development strategy of our next-generation treatments and therapies for mental health. We find ourselves strategically positioned with an experienced team of industry professionals, collaborative partners including the University of Calgary, a growing intellectual property portfolio, and a robust Central Nervous System pipeline of promising drug candidates. As we build upon the three core pillars of our success, Drug Development, Drug Discovery, and Intellectual Property, we are focused on creating effective mental health medicines.” 

Corporate Updates During and Subsequent to the Fourth Quarter 2021: 

Clinical Trials 

Announced collaboration with the University of Calgary on a groundbreaking clinical trial for EVM-201 in cancer-related distress. A clinical trial, expected to launch in 2023, of EVM-201, a second-generation psychedelic treatment, for Cancer Related Distress will be led by HBI researcher, Dr. Valerie Taylor, Head of the Department of Psychiatry, in Calgary, Canada. 

Announced positive preclinical data for EV102 radiodermatitis drug candidate. EV102 has demonstrated a significant and meaningful reduction in dermatitis severity, skin redness, and duration in a preclinical rodent model. 

PsyAITM, an artificial intelligence platform, successfully identified viable psychedelic molecules for further drug discovery from Enveric’s initial list of 500 psychedelic molecular compounds within its “Psybrary.” We believe it is a first of its kind to employ this machine-learning technology against an extensive psychedelic molecule library to evaluate higher-likelihood molecules that treat conditions that include cancer-related distress, PTSD, and other central nervous system (CNS) indications. 

IP Portfolio 

Filed and published four patent applications for psychedelic-inspired drug candidates by the World Intellectual Property Organization (WIPO). The four patent applications are focused on the tryptamine family of novel molecules. 

Filed its 10th Patent Cooperation Treaty (PCT) patent application directed to tryptamine-based derivative molecules, completing the Company’s broad series of PCT applications covering this family of compounds. 

Successfully synthesized and filed a provisional patent for EV104, the Company’s cannabinoid, and celecoxib conjugate. EV104a and EV104b are the Company’s new molecular conjugates for Osteoarthritis (“OA”) and other pain indications. 

Filed an additional provisional patent application based on new discoveries by the company. The patent application and claimed drug candidates fall into the Company’s EVM201 second-generation, psychedelic-derived drug development program. 

Leadership Team 

Appointed Bob Dagher, MD, as Chief Medical Officer. Dr. Dagher is a Board-certified neurology and psychiatry physician, bringing over 15 years of clinical experience and extensive therapeutic knowledge in the neuroscience space. 

Capital Markets 

Closed a $10 million public offering. The Company intends to use the net proceeds from this offering for working capital and to fund other general corporate purposes. 

Included in the new AdvisorShares Psychedelics ETF, trading under the ticker symbol “PSIL” on the NYSE Arca exchange. PSIL is an ETF that focuses on investments in biotechnology, pharmaceutical, and life sciences companies that are leading the nascent but advancing psychedelic industry. 

Financial Results for the Full Year Ended December 31, 2021: 

Comprehensive net loss was $48.8 million for the year ended December 31, 2021, including $36.3 million in net non-cash expenses, with basic and diluted loss per share of $2.07, as compared to a comprehensive net loss of $7.0 million with basic and diluted loss per share of $1.19 per share for the year ended December 31, 2020. 

Net cash used in operations for the year ended December 31, 2021, was $11.5 million consisting of the net loss, adjusted by a net of $36.3 million in non-cash expenses and changes in asset and liability balances of $1.2 million. 

As of December 31, 2021, the Company had cash and cash equivalents of $17.4 million and working capital of $15.3 million. Subsequent to December 31, 2021, the Company raised an additional $10 million and expects to use the funds to help advance its new drug discovery platform, robust IP portfolio, and a growing pipeline of promising drug candidates. 

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ENVB RECENT NEWS

ENVB MANAGEMENT TEAM:

Enveric’s management team, board of directors and scientific advisory boards are industry leaders with extensive experience in bringing new pharmaceuticals from discovery to market. This experience with drug development and clinical practice and research allows Enveric to rapidly advance a pipeline of proprietary, optimized and scalable mental health and pain management medicines. Check out the full management team including ENVB BOD and the Company’s Scientific Advisory Board here.

Joseph Tucker, Ph.D. – Chief Executive Officer, Director: Dr. Tucker is a seasoned executive who has built several publicly traded biotechnology companies. Dr. Tucker was a founder and Chief Executive Officer of Stem Cell Therapeutics, which he took public on the TSX (TSX: SSS). Trillium Therapeutics (NASDAQ: TRIL, TSX: TRIL) acquired Stem Cell Therapeutics in 2013. Dr. Tucker has also held the position of Co-Founder and Chief Executive Officer of Epimeron Inc., a University of Calgary start-up acquired in the creation of Willow Biosciences Inc. (TSX: WLLW). At Willow, Dr. Tucker served as Executive Chairman and Chief Operating Officer. Prior to founding companies, Dr. Tucker was a healthcare analyst with two investment banks and has also worked in technology commercialization for a university technology transfer office. Dr. Tucker received his Ph.D. in Biochemistry and Molecular Biology from the University of Calgary. 

Avani Kanubaddi – President & COO: Former CEO of Welmedix, led brand sale to PE back healthcare company in 2019. Former Director at BMS/ConvaTec and Wyeth/Pfizer in Medical Device, Consumer Health segments. 

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Bob Dagher, M.D. – Chief Medical Officer: Dr. Bob Dagher has over 20 years of clinical research experience within neuroscience in academia and industry organizations and has fostered the development of several small molecule drugs and biologics across all stages of drug development, targeting the treatment of psychiatric, neurological and rare diseases. 

Peter Facchini, Ph.D. – Chief Innovation Officer: Dr. Facchini has been a Professor of Plant Biochemistry in the Department of Biological Sciences at the University of Calgary for 25 years. Dr. Facchini held the Canada Research Chair in Plant Metabolic Processes Biotechnology and is currently a Parex Resources Innovation Fellow in the Faculty of Science. Dr. Facchini co-founded and was Chief Scientific Officer of Willow Biosciences Inc. and Epimeron Inc. Dr. Facchini has published over 160 scientific papers and co-invented over 30 patents. Dr. Facchini is an international leader in the biochemistry and biotechnology of natural product metabolism. 

Carter Ward – Chief Financial Officer: Prior to joining Enveric Biosciences, Mr. Ward served as Chief Financial Officer of Elite Pharmaceuticals, a specialty pharmaceutical company that develops and manufactures oral, controlled-release products. While at Elite, Mr. Ward successfully negotiated and executed capital raises, developed strategic initiatives, created financial models and led financial reporting efforts. Before joining Elite, Mr. Ward worked on the finance and supply chain team at Actavis USA, the U.S. subsidiary of European-based Actavis Group. At Actavis, Mr. Ward spearheaded the successful reengineering of the company’s outbound supply chain. Mr. Ward has served in various capacities at other leading companies including Centennial Communications, Ceejay Healthcare and Petro Pharma. 

Enveric Biosciences Inc. | LinkedIn

Thank you,
Microcapdaily

Source list:

Source 1: https://www.statista.com/topics/1764/global-pharmaceutical-industry/

Source 2: https://youtu.be/jndsrsQEeh4

Source 3: https://www.spglobal.com/spdji/en/indices/equity/sp-biotechnology-select-industry-index/#overview

Source 4: https://www.nasdaq.com/articles/bioscience-industry-one-of-the-great-success-stories-of-the-public-markets-says-nasdaq-ceo

Source 5: https://bit.ly/3sbFsJH

Source 6: https://www.gov.uk/government/publications/prescribed-medicines-review-report/prescribed-medicines-review-summary

Source 7: https://journals.plos.org/plosbiology/article?id=10.1371/journal.pbio.2002690#sec001

Source 8: https://www.nejm.org/doi/full/10.1056/NEJMoa2032994

Source 9: https://cnb.cx/3F9bPw6

Source 10: https://n.pr/3yAu4bk

Source 11: https://nyti.ms/3E6kL4d

Source 12: https://www.enveric.com/investors/events/

Source 13: https://www.yahoo.com/now/jim-simons-built-best-hedge-113024589.html

Source 14: https://simplywall.st/stocks/us/pharmaceuticals-biotech/nasdaq-envb/enveric-biosciences

Source 15: https://fintel.io/so/us/envb

Source 16: https://www.cancer.org/latest-news/facts-and-figures-2022.html

Source 17: https://www.ncbi.nlm.nih.gov/books/NBK65970/

Source 18: https://finance.yahoo.com/news/enveric-biosciences-announces-publication-four-113000842.html

Source 19: https://greenwavestockreports.com/wp-content/uploads/sites/52/2022/07/ENVB_Initiation.6.1.22-1.pdf

Source 20: https://www.enveric.com/wp-content/uploads/2022/05/Enveric-Investor-Deck-May-2022.pdf

Source 21: https://www.tradingsim.com/day-trading/descending-triangle

Source 22: https://stockcharts.com/c-sc/sc?s=ENVB&p=D&b=5&g=0&i=t7212315847c&r=1657041173709

Sincerely,

The Viral Stocks Team

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