Enveric Biosciences, Inc. (ENVB) is a novel biotherapeutics company engaged in the development of mental illness and cancer therapeutics including cannabinoid compounds. The pipeline projects are used for the treatment of glioblastoma multiforme, radiodermatitis, and chemotherapy-induced neuropathy.
ENVB stock price during the regular trading on March 14, 2022, dropped by 6.47% to remain at $0.26. Its price soared by 3.85% at the time of writing in the current market session of March 15, 2022.
ENVB: Events and Happenings
On March 15, 2022, ENVB announced the publication of its four preliminary applications of the Patent Cooperation Treaty for tryptamine by the WIPO. Supplementary PCT applications are anticipated to be published over a few months.
On March 3, 2022, ENVB reported its CEO’s participation at the following investor conferences
- Q1 Virtual Investor Summit held on March 8.
- Citi’s Psychedelic Drug Call Series was held on March 10, and
- Virtual Maxim 2022 Growth Conference being held on March 28-30, 2022.
On March 1, 2022, ENVB updated on filing its 10th PCT application for tryptamine-based molecules, thus finishing its wide range of PCT applications covering tryptamine. On February 17, 2022, ENVB informed the press regarding the establishment of an innovative clinical trial of EVM-1 along with the Calgary University’s Hotchkiss Brain Institute at Calgary’s Cumming School of Medicine.
ENVB: Key Financials
On November 15, 2021, ENVB reported its third fiscal quarter 2021 financials for the three months ended September 30, 2021. Some important features are shared here.
Revenue
The company reported nil revenue in the third fiscal quarter of 2021 and 2020.
EPS
For the third quarter of fiscal 2021, net loss basic and diluted per share was $2.7 million or $0.12 in comparison to $0.57 million or $0.10 during the comparable quarter in 2020. The company’s EPS gained slightly over the year. The company’s EPS surpassed the expectations by $0.02 and its EPS gained YoY.
Conclusion
ENVB stock touched a new low of 93% over the past year as the businesses are financially stagnant globally during the pandemic. The current market stock gain is the result of the publication of four patent applications by the company. Also, the experts are estimating its EPS to be -$0.16.
