Enveric Biosciences Expands Mental Health Treatment Portfolio with New Patent Approval

Enveric Biosciences (ENVB) has received a second notice of allowance from the USPTO for their EVM401 Series compounds, expanding their mental health treatment portfolio. The patent covers unique benzodioxole derivatives designed to act as non-hallucinogenic modulators of neurotransmitters. Analysts forecast an average target price of $10.00, implying a 609.22% upside from the current price of $1.41. The average brokerage recommendation is 2.0, indicating an "Outperform" status.

Enveric Biosciences (ENVB), a biotechnology company specializing in neuroplastogenic small-molecule therapeutics, has received a second Notice of Allowance from the United States Patent and Trademark Office (USPTO) for its EVM401 Series compounds. This patent expansion bolsters the company's intellectual property portfolio, focusing on treatments for psychiatric and neurological disorders.

The allowed patent application, titled "Substituted N-Propylamine Fused Heterocyclic Mescaline Derivatives," covers a unique series of benzodioxole derivatives engineered as non-hallucinogenic modulators of neurotransmitters. These compounds are structurally differentiated from traditional methylone, which lacks exclusivity due to its publicly known structure.

Joseph Tucker, Ph.D., Director and CEO of Enveric, stated, "With this second patent allowance for the EVM401 Series, Enveric continues to solidify its position as a leader in developing first-in-class neuroplastogenic small-molecule therapeutics." The compounds are designed to promote neuroplasticity without inducing hallucinations, supporting scalable outpatient care.

Enveric's patent-protected molecules share pharmacophoric elements with methylone, an MDMA analog recently associated with positive Phase 2 results for post-traumatic stress disorder (PTSD), but differ structurally in ways that render them patentable and proprietary. Future preclinical testing is anticipated to further investigate these compounds' efficacy and safety for conditions such as PTSD.

Analysts forecast an average target price of $10.00 for ENVB, implying a 609.22% upside from the current price of $1.41. The average brokerage recommendation is 2.0, indicating an "Outperform" status.

Enveric Biosciences is committed to advancing its pipeline of non-hallucinogenic neuroplastogens, aligning with modern mental health treatment demands. The company seeks to further develop its lead molecule, EB-003, towards clinical trials while exploring out-licensing opportunities for other novel drug candidates.

References:
[1] https://www.biospace.com/press-releases/enveric-biosciences-secures-second-u-s-patent-allowance-for-next-generation-non-hallucinogenic-mescaline-derivatives-in-evm401-series
[2] https://www.gurufocus.com/news/2997175/enveric-biosciences-secures-second-us-patent-allowance-for-nextgeneration-nonhallucinogenic-mescaline-derivatives-in-evm401-series-envb-stock-news