Enveric CEO says company is ‘at the forefront’ of neuroplastogens field

Enveric Biosciences (ENVB) announced that Joseph Tucker, Ph.D., CEO and Director, has issued a Letter to Shareholders, which read in part, “This is a very exciting time in the growth and evolution of Enveric. We have successfully completed a strategic reshaping of the company to focus our business and development operations towards the advancement of EB-003 as our lead product. We believe EB-003 offers Enveric the greatest opportunity to drive shareholder value given its potential to be a first-in-class neuroplastogenic molecule that could address multiple, difficult-to-treat neuropsychiatric indications. We additionally recently unveiled an exciting new series of drug candidates in our pipeline, the EVM401 Series…Enveric is at the forefront of the new field of neuroplastogens focused on providing entirely new treatment options for patients with neuropsychiatric disorders, an area of medicine that has been without substantial innovation for many years. Our goal is ambitious, but we are energized by the potential of EB-003 to be a first-in-class neuroplastogen designed to promote neuroplasticity, without inducing hallucinations. The past two years have presented a challenging fundraising environment for innovative drug development companies, including Enveric. Recognizing this, we elected to streamline and manage operations to conserve our financial resources until the capital markets environment became more receptive to innovative drug development. We are hopeful that the markets are beginning to show signs of improvement, which is why we recently effected a reverse stock split and closed a public offering of common stock and warrants, raising approximately $5 million in gross proceeds; our first offering of this type in approximately two years. As 2025 is underway, we believe the Company is well positioned to cement its leadership role in the industry by advancing the development of our innovative drug candidate, EB-003, for the treatment of neuropsychiatric conditions. We eagerly look forward to advancing toward clinical trials and ultimately receiving regulatory approval, so we can bring EB-003, and later our EVM401 Series candidates, to the market in support of our twin goals of improving the lives of patients and generating value for our shareholders.”