Enveric Biosciences (ENVB) stock is drawing investors' attention on Wednesday after the company received a Notice of Allowance from the United States Patent and Trademark Office (USPTO) for its patent application covering its EVM301 Series of molecules.
Enveric’s stock traded over 106% higher in Wednesday’s premarket.
The USPTO’s Notice of Allowance signals that the agency has determined the patent is likely to be granted, providing Enveric with intellectual property protection for its neuroplastogenic compounds.
“We believe EB-003 holds great potential as the first known compound designed to selectively engage both 5-HT₂A and 5-HT₁B receptors to deliver fast-acting, durable antidepressant and anxiolytic effects, while being specifically designed to promote neuroplasticity and minimize hallucinogenic effects, allowing administration in outpatient setting,” said Joseph Tucker, CEO, Enveric.
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