Why Did ENVB Stock More Than Double In Value Today?

The company received a Notice of Allowance from the United States Patent and Trademark Office for its patent application.

• The USPTO’s Notice of Allowance signals that the agency has determined the patent is likely to be granted.
• By securing this intellectual property, Enveric gains a competitive edge in the neuropsychiatric treatment space.
• Enveric’s stock surged 106% in Wednesday’s premarket.

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. 

Patent Focus and Potential

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. 

By securing this intellectual property, Enveric gains a competitive edge in the neuropsychiatric treatment space, particularly for patients with limited therapeutic options. The patent also enhances the company’s ability to pursue future research and commercialization of its EVM301 compounds.

What Are Stocktwits Users Saying? 

The stock was the second-most trending equity ticker on Stocktwits. Retail sentiment around the stock jumped to ‘extremely bullish’ from ‘bearish’ territory the previous day. Message volume improved to ‘extremely high’ from ‘high’ levels in 24 hours. 

A bullish Stocktwits user said that if the drug proves safe and effective, a potential buyout exceeding $1 billion could be possible. 

Another user expressed optimism about the low float and fresh IP update. 

ENVB stock has lost over 90% of its value year-to-date. 

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