Enveric Biosciences Inc

Enveric Biosciences sold 2,222,223 common shares or pre-funded warrants at $2.25 each and additionally issued Series I and Series J warrants with an exercise price of $2.00 that are immediately exercisable. The transaction generated approximately $5 million in gross proceeds; if both warrant series are fully exercised for cash, an additional $8.9 million could be raised. H.C. Wainwright & Co. acted as exclusive placement agent, and Enveric intends to use the net proceeds for product development, working capital and general corporate purposes. » Más en de.investing.com

Enveric Biosciences has entered into binding agreements for a private placement of 2,222,223 common shares (or prepaid warrants) at $2.25 each, generating gross proceeds of about $5 million before fees. The offering also includes Series I and J warrants, each to purchase up to 2,222,223 shares at an exercise price of $2.00; if exercised in full for cash, these could provide an additional $8.9 million. H.C. Wainwright is acting as exclusive placement agent, and the closing is expected today. Enveric intends to use the proceeds for product development, working capital and general corporate purposes; the transaction is being conducted pursuant to Section 4(a)(2) of the Securities Act. » Más en de.investing.com

U.S. patent No. 12,577,232 protects Enveric Biosciences' EVM301 molecule series, including lead drug candidate EB-003, as well as related compounds, drug formulations and treatment methods for neurological disorders. The company is working on an IND application with the FDA and preparing a phase 1 clinical study for EB-003, designed as a non-hallucinogenic 5-HT2A/5-HT1B agent for depression and anxiety. The patent complements the existing protection portfolio; the stock is trading at $1.79 near the 52-week low of $1.75, market capitalization is about $2.49 million and the share price fell 89% over the past year. » Más en de.investing.com