Enveric Biosciences Secures Patent for Novel Mental Health Treatments Amidst Challenges in Profitability and Revenue Generation.

Enveric Biosciences (ENVB) has secured a U.S. patent for novel mental health treatments, expanding its intellectual property portfolio in non-hallucinogenic neuroplastogenic compounds. Despite strong financial ratios, the company faces challenges in profitability and revenue generation. Enveric Biosciences has a market capitalization of approximately $4.21 million and is listed on the NASDAQ exchange. The company's valuation metrics, such as the price-to-book ratio of 0.62, suggest undervaluation. Technical indicators show a Relative Strength Index (RSI) of 39.58, suggesting the stock is approaching oversold territory.