Biotech Stock Enveric Biosciences (NASDAQ: ENVB) Soars on Patent News
February 26, 2025 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com), a go-to platform for big investing ideas for stock traders, including biotech stocks reports on trading and news for Enveric Biosciences (NASDAQ: ENVB), a biotechnology company dedicated to the development of novel neuroplastogenic small-molecule therapeutics for the treatment of depression, anxiety, and addiction disorders.
The stock makes the NASDAQ top percentage gainers today on Patent news. The stock is trading at $2.5000, up $ 1.3200, gaining 111.8644% on volume of $125 Million shares as of this report. The stock has a day's high of $4.50.
Enveric today announced that the United States Patent and Trademark Office issued U.S. Patent No. 12,195,439 (the '439 patent) on January 14, 2025.
Entitled "Cl-Substituted Isopropylamine Fused Heterocyclic Mescaline Derivatives," the '439 patent is the first Enveric patent to be issued for its new EVM401 Series. Further development of the EVM401 Series of compounds is intended to broaden Enveric's pipeline with additional non-hallucinogenic molecules and strengthen its ability to target addiction and neuropsychiatric disorders for patients with limited options. Preliminary testing of the EVM401 series of compounds and their metabolites has demonstrated unique patterns of brain receptor modulation emerging from the compounds' distinct molecular structures.
Specifically, preliminary data suggest that these mescaline derivative compounds may interact with a variety of important neurological receptors, including the α2A adrenergic receptor (ADRA2A), the 5-HT2C receptor, and the dopamine transporter (DAT). ADRA2A agonists are known to help manage the symptoms of opioid withdrawal and treat conditions such as ADHD, while the 5-HT2C receptor is an emerging therapeutic target in the treatment of neuropsychiatric diseases, including substance use disorders, anxiety and depression. Notably, DAT is also an important target in the treatment of substance use disorders.
"Enveric is pleased to have secured this foundational U.S. patent and is excited for the potential of the EVM401 Series," said Dr. Joseph Tucker, CEO of Enveric. "While our corporate and development strategy is focused squarely on preparing for the Investigational New Drug application for EB-003, we continue to explore opportunities to expand our development pipeline in order to build shareholder value."
Full news
https://finance.yahoo.com/news/enveric-biosciences-unveils-evm401-series-183000157.html
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