By Josh Beckerman
Shares of Enveric Biosciences shares fell after the company reported a $5 million public offering.
The stock was down 44%, to $2.17, Friday afternoon and are down about 83% over the past 52 weeks.
Shares ended the regular session Thursday at $3.90, and peaked at $6.48 in after-hours trading, according to Nasdaq.com, after the company said it received a Notice of Allowance from the U.S. Patent and Trademark Office.
The patent application pertained to EVM301 molecules being developed as potential treatments for mental-health disorders.
Later Thursday night, the company said a public offering of an aggregate of 1.67 shares, or stock equivalents in lieu thereof, 1.67 million Series A warrants and 1.67 million Series B warrants priced at a combined price of $3 per share or stock equivalent and accompanying warrants.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
January 31, 2025 13:51 ET (18:51 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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