CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Enveric Biosciences Inc. (NASDAQ: ENVB), a biotechnology company focused on developing novel neuroplastogenic small-molecule therapeutics, has announced new data regarding its lead development candidate, EB-003. The data reveals that EB-003 acts as an agonist of the serotonin receptor 5-HT1B, a validated target for drugs treating major depressive disorder and various neurological conditions such as Parkinson's disease, migraines, and cluster headaches. These results, which add to existing evidence of EB-003's receptor engagement activities, were presented by the company. The study highlighted EB-003's potential to elicit neuroplastogenic effects without adverse hallucinogenic outcomes, broadening its clinical indication potential. Enveric Biosciences plans to continue IND-enabling activities for EB-003 through 2025, as part of its strategy to explore therapeutic opportunities in psychiatric and neurological markets.