By Robb M. Stewart

Enveric Biosciences's shares were down sharply ahead of the opening bell after the biotechnology company priced a roughly $1.5 million stock offering.

In premarket trading, the shares were 13% lower at $3.85. By Tuesday's close, the shares had risen 22% in the new year but were down 91% over the prior 12 months.

Enveric said Wednesday it entered into definitive agreements for sale of 328,802 of its shares at $4.41 each in a registered direct offering.

In a concurrent private placement, the company will issue unregistered series G warrants to purchase up to 328,802 shares of common stock and unregistered series H warrants to buy up to 328,802 shares. Both the series G and series H warrants will have an exercise price of $4.16 each.

The company said it plans to use the proceeds from the offering for product development, working capital and general corporate purposes.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

January 28, 2026 08:31 ET (13:31 GMT)

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