Enveric reports Q2 2026 results, advances EB-003 toward IND filing
The company said it continued IND-enabling work on its lead candidate EB-003 and reported preclinical data supporting a non-hallucinogenic profile ahead of a planned Phase 1 trial.
Enveric Biosciences reported financial results and a business update for the second quarter ended June 30, 2026, in a release dated August 14, 2026. The company said it continued advancing IND-enabling studies supporting the planned submission of an Investigational New Drug application for EB-003 and the expected initiation of a Phase 1 clinical trial.1
On the science, Enveric said it reported preclinical data showing EB-003 consistently exhibited a non-hallucinogenic profile in a highly sensitive GloSensor assay, complementing previously reported BRET assay findings.1 The company also announced preclinical in vitro results indicating no photoreactive potential for EB-003, which it said further derisks the compound's development as a potential treatment for neuropsychiatric disorders.1 Enveric additionally initiated genotoxicity studies to evaluate whether EB-003 could interact with DNA and cause genetic mutations, describing this as a required safety measure for IND submission.1
On intellectual property, the company received a Notice of Allowance from the USPTO for a patent application covering its EVM401 Series of methylone-inspired neuroplastogens1 and secured U.S. Patent No. 12,605,361 covering its EVM301 Series of molecules being developed as potential mental health treatments.1
On financing, Enveric closed a private placement priced at the market under Nasdaq rules, generating about $5.0 million in upfront gross proceeds, with potential for up to about $8.9 million more if associated warrants are fully exercised.1 It also raised approximately $1.5 million from warrant exercises.1
For the quarter, net loss attributable to stockholders was $3.0 million, including $0.3 million in net non-cash expense, with basic and diluted loss per share of $0.76, compared with a $2.5 million net loss and $11.65 loss per share in the same quarter of 2025.1 Cash on hand was $8.3 million as of June 30, 2026.1
CEO Joseph Tucker said the quarter's priorities going forward are to complete remaining IND-enabling activities, submit the planned IND application, and advance EB-003 into a first-in-human clinical trial.1
Written by readthrough’s AI from the linked primary sources and fact-checked against them automatically before publishing. Not investment advice.