Enveric Biosciences Down Sharply After Public Offering

Dow Jones

Feb 01, 2025

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)

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