Enveric Biosciences surges on second patent notice for anxiety disorder drug

Enveric Biosciences

24/05/2023 17:38

** Shares of biotech firm Enveric Biosciences Inc  ENVB.O 
more than double to $6.98 - hitting highest level since August
2022
    ** Stock among top pct gainers across U.S. stock exchanges 
    ** ENVB says it will receive a second patent application
related to its EVM201 Series development program, under which it
is testing an anxiety treatment EB-373
    ** Co says the patent, which will soon be issued, contains
composition-of-matter claims for a family of novel drug
molecules of psilocin, a naturally occurring psychedelic
compound
    ** The new patent claim is structurally different from the
first patent for EB-373 - company
    ** Including session's gain, stock up ~200% YTD

 (Reporting by Pratik Jain and Bhanvi Satija in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))