Mental health drug developer Enveric Biosciences Q3 net loss narrows
ENVB•Enveric Biosciences reported a third-quarter net loss of $2.50 million, which narrowed year over year. It also reported positive preclinical results for EB-003 and a new U.S. patent allowance for non-hallucinogenic mescaline derivatives.
1. Quarterly results
Enveric Biosciences’ third-quarter net loss narrowed year over year to $2.50 million.
2. Drug development and patent
The company advanced IND-enabling studies for lead candidate EB-003, reporting positive absorption, metabolic and brain activity results. It plans to submit an IND and advance the candidate to a Phase 1 clinical trial. Enveric also secured a U.S. patent allowance for non-hallucinogenic mescaline derivatives in its EVM401 Series.
