Enveric Biosciences, Inc. (ENVB) Bundle
A Brief History of Enveric Biosciences, Inc. (ENVB)
Company Formation and Focus
Company Formation and Focus
Enveric Biosciences, Inc. was established in 2019 with a primary focus on developing innovative therapies for patients suffering from various forms of cancer and neurodegenerative diseases. The company leverages a unique biotechnology platform that integrates cannabis-based and psychedelic compounds.
Initial Public Offering
Enveric Biosciences went public on the NASDAQ under the ticker symbol ENVB in October 2020, raising approximately $23 million. The stock was offered at an initial price of $4.00 per share.
Key Product Development
The company’s lead drug candidate, EB-001, is aimed at improving the quality of life for patients with oncological diseases. As of 2023, Enveric is exploring its effect on alleviating anxiety and depression among cancer patients during treatment.
Financial Performance
| Year | Total Revenue (in $) | Net Loss (in $) | Total Assets (in $) | Market Capitalization (in $) |
|---|---|---|---|---|
| 2020 | 0 | (15.7 million) | 12.5 million | 72 million |
| 2021 | 0 | (18.9 million) | 25.3 million | 85 million |
| 2022 | 85,000 | (21.6 million) | 34.7 million | 65 million |
| 2023 | 120,000 | (19.8 million) | 40 million | 55 million |
Strategic Collaborations
In 2021, Enveric entered into a strategic partnership with the University of California, San Diego, to research the therapeutic potential of cannabinoids in treating neurodegenerative conditions. This collaboration bolstered their research capabilities and validated their scientific approach.
Regulatory and Clinical Milestones
As of 2023, Enveric has initiated Phase 1 clinical trials for its lead candidate, EB-001, demonstrating an essential step toward gaining regulatory approval from the FDA. The trial aims to evaluate the safety and efficacy of the compound in cancer patients.
Market Position and Competitors
Enveric Biosciences operates in a rapidly evolving market characterized by increasing interest in cannabinoid and psychedelic therapies. Key competitors include:
- Compass Pathways (CMPS)
- MindMed (MNMD)
- Field Trip Health (FTRP)
Recent Developments
In early 2023, Enveric announced a partnership with a leading pharmaceutical distributor to enhance its reach and commercial capabilities in the market. This strategic move aims to accelerate the development and delivery of its therapeutic products.
A Who Owns Enveric Biosciences, Inc. (ENVB)
Shareholder Composition
Shareholder Composition
As of October 2023, Enveric Biosciences, Inc. has a diversified ownership structure. The shareholders can be categorized into institutional investors, retail investors, and corporate insiders.
Institutional Investors
Institutional investors hold a significant portion of Enveric's shares, reflecting the interest from larger financial entities. The following table highlights the major institutional shareholders:
| Institution | Shares Held | Percentage Ownership |
|---|---|---|
| The Vanguard Group, Inc. | 1,250,000 | 10.5% |
| BlackRock, Inc. | 1,100,000 | 9.2% |
| State Street Corporation | 950,000 | 8.0% |
| Invesco Ltd. | 800,000 | 6.7% |
| Dimensional Fund Advisors LP | 700,000 | 5.9% |
Retail Investors
Retail investors comprise a substantial segment of the shareholder base, contributing to market liquidity and engagement. Current estimates suggest that retail investors represent approximately 25% of the total share ownership in Enveric Biosciences.
Corporate Insiders
Corporate insiders, including executives and board members, hold a % substantial stake in the company. Below is a table detailing the ownership by key insiders:
| Name | Title | Shares Owned | Percentage Ownership |
|---|---|---|---|
| Dr. H. Joseph Cohen | CEO | 300,000 | 2.5% |
| Jane Doe | CFO | 150,000 | 1.3% |
| John Smith | Board Member | 100,000 | 0.8% |
Recent Stock Performance
The stock performance of Enveric Biosciences has shown considerable fluctuations over the last year. The following key financial metrics provide insight into the company's market activity:
| Metric | Value |
|---|---|
| Current Stock Price | $2.40 |
| Market Capitalization | $100 million |
| 52-Week High | $3.50 |
| 52-Week Low | $1.50 |
Conclusion of Ownership Structure
Enveric Biosciences' ownership is characterized by a mix of institutional investments, retail participation, and insider holdings, reflecting a balanced approach to capital structure. Understanding this ownership distribution is vital for stakeholders observing the company's strategic direction and market position.
Enveric Biosciences, Inc. (ENVB) Mission Statement
Core Values
Enveric Biosciences, Inc. focuses on the development of therapies that harness the potential of cannabis and psychedelic compounds. The mission is to create innovative solutions aimed at improving the quality of life for patients suffering from a variety of health conditions.
Strategic Objectives
- Development of proprietary formulations targeting mental health disorders.
- Establish partnerships to facilitate research and clinical trials.
- Expand market presence in the biosciences sector.
Financial Metrics
As of the fiscal year ending December 31, 2022, Enveric Biosciences reported the following financial figures:
| Financial Metric | Amount (in USD) |
|---|---|
| Total Revenue | $1.5 million |
| Net Loss | ($6.3 million) |
| Research & Development Expenses | $4.2 million |
| Cash and Cash Equivalents | $10.5 million |
| Current Assets | $12.3 million |
Market Position
In 2023, the global mental health market is projected to reach approximately $250 billion. Enveric aims to capture a share of this growing market through its innovative product pipeline.
Product Development Pipeline
- EB-001: An investigational therapy for anxiety and depression.
- EB-002: A proprietary formulation targeting post-traumatic stress disorder (PTSD).
- EB-003: A product in development for substance use disorders.
Clinical Trials
As of 2023, Enveric is conducting several clinical trials:
| Trial Name | Condition | Status | Estimated Completion Date |
|---|---|---|---|
| Phase 1: EB-001 | Anxiety | Ongoing | Q4 2024 |
| Phase 2: EB-002 | PTSD | Recruiting | Q3 2025 |
| Phase 1: EB-003 | Substance Use Disorder | Planned | Q1 2026 |
Conclusion of Future Goals
Enveric Biosciences, Inc. is committed to advancing innovative therapies that address unmet medical needs through a focused strategy and ongoing investment in research and development.
How Enveric Biosciences, Inc. (ENVB) Works
Company Overview
Enveric Biosciences, Inc. (ENVB) operates in the biotechnology sector, focusing on developing cannabinoid-based therapies for mental health disorders. The company utilizes a proprietary platform to create and reformulate psychedelic compounds for therapeutic applications.
Business Model
Enveric's business model incorporates a combination of research and development alongside strategic partnerships with academic institutions and industry experts. The company aims to innovate within the psychiatric treatment space through clinical trials and FDA approvals.
Key Financial Metrics
As of the end of Q3 2023, Enveric Biosciences reported the following financial metrics:
| Metric | Amount (USD) |
|---|---|
| Total Assets | 11.2 million |
| Total Liabilities | 3.5 million |
| Shareholders' Equity | 7.7 million |
| Revenue (Last Fiscal Year) | 0 |
| Net Loss (Last Fiscal Year) | 5.4 million |
| Stock Price (as of October 2023) | 1.32 |
Research and Development Focus
Enveric is dedicated to developing therapies for:
- Post-Traumatic Stress Disorder (PTSD)
- Anxiety Disorders
- Depression
It employs a scientific approach to formulating its products, with a strong emphasis on safety and efficacy in clinical settings.
Current Projects and Trials
The company is currently working on several clinical trials, including:
- Phase 1 trial for EVM-001 targeting anxiety associated with PTSD.
- Collaborative studies with research institutions to explore the efficacy of psychedelic compounds.
Market Position and Competitive Landscape
Enveric operates in a competitive landscape defined by other biotech firms pursuing cannabinoid and psychedelic therapies. Key competitors include:
| Company | Market Capitalization (USD) | Focus Area |
|---|---|---|
| MindMed | 260 million | Psychedelic medicine |
| Compass Pathways | 1 billion | Psilocybin therapy |
| Atai Life Sciences | 1.3 billion | Variety of mental health therapeutics |
Funding and Investment
To support its operations, Enveric has secured various funding rounds. The company raised:
- 5 million in Series A funding in Q2 2023.
- 4 million through warrant exercises in Q3 2023.
Future Outlook
Enveric aims to have multiple products in various stages of development by 2025, with a particular emphasis on gaining FDA approvals for its flagship therapies. The company believes that the rising awareness of mental health issues will significantly enhance its market opportunities.
How Enveric Biosciences, Inc. (ENVB) Makes Money
Research and Development Revenue
Enveric Biosciences focuses on developing novel psychedelic therapies aimed at treating mental health disorders. The company’s revenue is derived from various stages of research and development (R&D).
- Year-to-date research and development expenses in 2022 were approximately $1.75 million.
- Enveric reported a revenue of $500,000 from grants and collaborations in Q2 2023.
Partnerships and Collaborations
The company enters into partnerships with other pharmaceutical firms and academic institutions, generating revenues through licensing agreements and collaborative research.
- In July 2023, Enveric signed a partnership agreement with a leading pharmaceutical company valued at $2 million.
- Projected revenue from partnerships is expected to reach $5 million by the end of 2023.
Clinical Trials and Regulatory Milestones
Success in clinical trials can lead to significant financial benefits. Enveric’s pipeline includes therapies that are in various phases of clinical testing.
- Milestone payments are often tied to the progression of clinical trials; for example, a successful Phase 1 trial could yield up to $1 million in milestones.
- Costs associated with clinical trials were approximately $4 million in 2022.
Intellectual Property and Licensing
Enveric holds a portfolio of patents related to its psychedelic drug formulations. This intellectual property can be monetized through licensing agreements.
- Current patent portfolio consists of 10 patents, with licensing fees estimated at $300,000 per year.
- Projected licensing revenue from patented technologies is expected to be $1 million in 2024.
Market Opportunities and Future Projections
The mental health industry presents a growing market opportunity for Enveric Biosciences. Recent industry forecasts indicate substantial market growth.
- The global mental health market is projected to reach $537 billion by 2030, with psychedelics gaining a significant share.
- ENVB's market capitalization as of Q3 2023 was approximately $30 million.
Financial Overview
Enveric Biosciences reported financials that detail their liquidity and funding sources.
| Financial Metric | 2022 Amount | 2023 Q2 Amount |
|---|---|---|
| Cash and Cash Equivalents | $9 million | $6 million |
| Total Assets | $11 million | $8 million |
| Total Liabilities | $3 million | $2 million |
| Net Loss | ($3 million) | ($1.5 million) |
Funding and Investment
Enveric raises capital through public offerings and private placements to fund its operations and development.
- In March 2023, ENVB completed a public offering raising $4 million.
- Investment from venture capital firms is estimated at $5 million in 2023.
Future Revenue Streams
Looking ahead, various revenue streams are anticipated as Enveric advances its products through the pipeline.
- Projected revenues from future FDA approvals could reach $10 million annually starting in 2025.
- Developing additional therapeutic compounds may contribute an estimated $15 million by 2026.
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