Financial Performance - Enveric reported a net loss of $2,184,966 for the three months ended March 31, 2025, compared to a net loss of $2,456,915 for the same period in 2024, reflecting a decrease of approximately 11%[88]. - Total operating expenses decreased to $2,187,533 for Q1 2025, down from $2,477,317 in Q1 2024, a reduction of about 12%[88]. - General and administrative expenses fell by $525,615, or 28%, to $1,360,138 in Q1 2025, primarily due to reductions in various operational costs[90]. - Research and development expenses increased by $240,216, or approximately 47%, to $746,371 in Q1 2025, driven by higher consulting fees[91]. - The accumulated deficit reached $108,259,471 as of March 31, 2025, with ongoing losses anticipated in the company's development efforts[93]. - The company reported a net cash used in operating activities of $2,391,582 for the three months ended March 31, 2025, compared to $2,598,347 for the same period in 2024, reflecting a decrease of approximately 8%[98][99]. - The company experienced a net increase in cash of $2,053,409 for the three months ended March 31, 2025, compared to $4,068,059 in 2024, indicating a decrease of approximately 49%[97]. Cash Position and Financing - Enveric has cash of $4,294,435 and working capital of $3,650,434 as of March 31, 2025, which is insufficient to meet operating cash needs for the next 12 months[94]. - The company plans to raise additional working capital through public or private equity or debt financings, including an "at-the-market" offering of up to $1.8 million[94]. - Net cash provided by financing activities was $4,448,914 for the three months ended March 31, 2025, down from $6,658,269 in 2024, representing a decline of about 33%[100][101]. Development and Research - Enveric's lead drug candidate, EB-003, is currently in preclinical development with an IND filing expected as the next step[84]. - The company has synthesized over one thousand molecules from its Psybrary™, which includes 20 patent families covering a million potential molecular structures[80]. - Enveric out-licensed the EVM201 Series program to MycoMedica Life Sciences, which will seek to develop and commercialize EB-002, in exchange for development and milestone payments[79]. Going Concern and Risks - The company has substantial doubt about its ability to continue as a going concern for one year after the date of the financial statements[95]. - The company's critical accounting estimates involve significant uncertainty, particularly regarding accruals associated with third-party providers supporting research and development efforts[102]. - The company's primary market risk exposure is related to foreign currency exchange rates, particularly with the Canadian dollar and Australian dollar against the U.S. dollar[105]. - The company has not entered into any financial derivative instruments to hedge against foreign currency exchange rate risks, but may consider such hedging in the future[106]. - The net cash used in operating activities for the three months ended March 31, 2025, included a net loss adjusted for non-cash items of $1,912,659[98]. - The company has not reported any material changes to its critical accounting estimates compared to the previous year[103].

Financial Results - Enveric Biosciences, Inc. reported its financial results for Q1 2025, ending March 31, 2025[4] - The report does not include specific financial figures or performance metrics in the provided content[4] - The financial results include key metrics that will be detailed in Exhibit 99.1, which is referenced in the report[4] - The press release is furnished as Exhibit 99.1, which may contain detailed financial data[6] Corporate Update - The company issued a press release on May 14, 2025, providing a corporate update alongside the financial results[4] - The report is filed under Form 8-K, indicating compliance with the Securities Exchange Act of 1934[5] Company Information - The company is registered on The Nasdaq Stock Market under the trading symbol ENVB[2] - Enveric Biosciences is classified as an emerging growth company[3] - The company is headquartered in Naples, FL, with a principal executive office address provided[1] - Joseph Tucker, Ph.D., serves as the Chief Executive Officer of Enveric Biosciences, Inc.[9]

Financial Results - Enveric Biosciences, Inc. reported its financial results for the fourth quarter and fiscal year ended December 31, 2024[4]. - Specific financial metrics and performance data were included in the press release, which is referenced as Exhibit 99.1[4]. - The financial statements and exhibits related to the report are detailed in Item 9.01[6]. Corporate Update - The company issued a press release on March 31, 2025, providing a corporate update alongside the financial results[4]. - The report was signed by Joseph Tucker, Ph.D., the Chief Executive Officer of Enveric Biosciences, Inc.[9]. Regulatory Information - The report is not deemed "filed" under the Securities Exchange Act of 1934, and it will not be incorporated by reference into any registration statement[5]. - The company has not indicated whether it is an emerging growth company[3]. Product and Market Information - The report does not provide specific user data or future guidance in the available content[4]. - No new products, technologies, market expansions, or acquisition strategies were mentioned in the provided documents[4]. Trading Information - The company is registered under the trading symbol ENVB on The Nasdaq Stock Market[2].

Drug Development - Enveric's lead drug candidate, EB-003, is in preclinical development with an IND filing expected soon[284]. - The company has synthesized over 1,000 novel molecules from its Psybrary™, which includes 20 patent families covering a million potential molecular structures[281]. - Enveric executed a licensing agreement with MycoMedica for the EVM201 program, receiving an upfront payment of $20,000 and potential milestones totaling up to $62 million[287]. Financial Performance - The Company incurred a net loss of $9,574,987 for the year ended December 31, 2024, compared to a net loss of $17,291,732 in 2023[306]. - The Company has an accumulated deficit of $106,074,505 as of December 31, 2024, with further losses anticipated[316]. - The company reported a net loss adjusted for non-cash items of $7,302,896 for 2024, down from $13,919,661 in 2023, reflecting an improvement of approximately 47%[321][322]. Cash Flow and Liquidity - Cash on hand at December 31, 2024, was $2,241,026, which is insufficient to meet operating cash needs for the next 12 months[317]. - The Company had operating cash outflows of $7,726,139 for the year ended December 31, 2024[316]. - Net cash used in operating activities was $7,726,139 for the year ended December 31, 2024, compared to $14,094,411 for the year ended December 31, 2023, indicating a decrease of approximately 45%[321][322]. Expenses Management - Total operating expenses decreased to $9,632,266 for the year ended December 31, 2024, down from $16,448,440 in 2023, a reduction of approximately 41%[306]. - General and administrative expenses decreased by $2,398,516, or 27%, primarily due to reductions in consulting expenses, salaries, and stock compensation[307]. - Research and development expenses decreased by $4,411,165, or approximately 61%, to $2,841,272 for the year ended December 31, 2024[309]. Stock and Equity - A reverse stock split of 1-for-15 was executed on January 27, 2025, with trading on a split-adjusted basis starting January 29, 2025[285]. - The company issued 159,366 shares through the Lincoln Park Purchase Agreement for gross cash proceeds of $1,083,709 in 2024[293]. - Enveric's equity line with Lincoln Park allows for the purchase of up to $10 million of common stock, subject to certain limitations[292]. Agreements and Partnerships - The company entered into a Distribution Agreement with Canaccord Genuity for an aggregate offering price of up to $10 million, with gross sales of $2,392,502 recorded in 2024[289][291]. - The company is soliciting RFPs for its PsyAI™ trademark portfolio, with the period open until August 31, 2025[282]. - Enveric has entered into several non-binding term sheets to out-license certain molecules from the Psybrary™[283]. Currency and Risk Management - The company is exposed to foreign currency exchange rate risk due to transactions in Canadian and Australian dollars, with the reporting currency being the U.S. dollar[327]. - The company has not entered into any financial derivative instruments to hedge against foreign currency risks but may consider such strategies in the future[328]. Liabilities and Financial Position - The decrease in accounts payable and accrued liabilities was $834,630 in 2024, compared to a decrease of $103,848 in 2023, indicating a larger reduction in liabilities[321][322]. - An increase in due to related parties of $232,891 was noted in 2024, contrasting with a decrease in prepaid expenses of $178,496[321]. Accounting Estimates - The company’s critical accounting estimates involve significant uncertainty, particularly in fair value assessments of common stock and stock-based compensation[326]. - The company plans to evaluate its estimates on an ongoing basis to ensure accuracy in financial reporting[326].

Operating Expenses - Total operating expenses decreased to $2,083,192 for the three months ended September 30, 2024, from $3,448,395 for the same period in 2023, a reduction of approximately 40%[100] - General and administrative expenses decreased by $844,983, or 41%, to $1,235,661 for the three months ended September 30, 2024, primarily due to reductions in consulting expenses, salaries, and legal fees[101] - Research and development expenses decreased to $762,717 for the three months ended September 30, 2024, down from $1,281,455 in the same period in 2023, representing a decrease of approximately 40%[102] - General and administrative expenses decreased by $3,806,279, or 46%, to $4,467,065 for the nine months ended September 30, 2024, compared to $8,273,344 for the same period in 2023[108] - Research and development expenses decreased by $3,795,063, or approximately 69%, to $1,736,373 for the nine months ended September 30, 2024, from $5,531,436 in the same period of 2023[110] - Depreciation and amortization expense for the nine months ended September 30, 2024 was $255,002, a decrease of approximately 2% from $259,300 in the same period of 2023[111] Net Loss - The net loss for the three months ended September 30, 2024, was $2,084,032, compared to a net loss of $2,822,216 for the same period in 2023[100] - The net loss for the nine months ended September 30, 2024 was $6,420,341, a reduction from a net loss of $13,855,796 for the same period in 2023[107] Cash and Financing Activities - The company had cash of $3,111,683 and working capital of $3,499,093 as of September 30, 2024, which is insufficient to meet its operating cash needs for the next 12 months[116] - Net cash used in operating activities was $6,414,590 for the nine months ended September 30, 2024, compared to $12,343,363 for the same period in 2023[120] - Net cash provided by financing activities was $7,210,386 for the nine months ended September 30, 2024, compared to a net cash used of $1,157,057 in the same period of 2023[124] Share Issuance and Warrant Exercise - The company issued 1,668,000 shares of common stock for gross proceeds of $2,392,502 under the Distribution Agreement during the nine months ended September 30, 2024[91] - The company entered into warrant exercise inducement offer letters, resulting in the exercise of 1,122,000 shares at a reduced price of $1.37 per share, generating total proceeds of $280,500[93] - The company has registered an additional 4,900,000 shares of common stock available for issuance under the amended Form S-1[99] Research and Development - The company has created over 1,200 novel molecular compounds housed in the Psybrary™, focusing on developing lead molecules EB-002 and EB-003[90] - The company is advancing its EVM201 Series, with EB-002 targeting psychiatric disorders and EB-003 being a non-hallucinogenic neuroplastogen[89] Fair Value Changes - The change in fair value of warrant liabilities resulted in income of $20,722 for the nine months ended September 30, 2024, compared to a loss of $115,342 in the same period of 2023[112] - The change in fair value of investment option liability resulted in income of $18,664 for the nine months ended September 30, 2024, compared to a loss of $399,921 in the same period of 2023[113] Operating Cash Outflows - The company incurred operating cash outflows of $6,414,590 for the nine months ended September 30, 2024, with an accumulated deficit of $102,919,859 as of the same date[115]

Financial Results - Enveric Biosciences, Inc. reported its financial results for Q3 2024, ending September 30, 2024[3] - The company issued a corporate update alongside the financial results on November 14, 2024[3] - Specific financial metrics and performance data were not detailed in the provided content[3]

Financial Performance - The net loss for Q2 2024 was $1,879,394, compared to a net loss of $6,356,053 in Q2 2023[94]. - The company reported a net loss of $4,336,309 for the six months ended June 30, 2024, compared to a net loss of $11,033,580 in the same period of 2023[99]. - The company incurred an accumulated deficit of $100,835,827 as of June 30, 2024, with further losses anticipated in business development[106]. Operating Expenses - Total operating expenses for Q2 2024 were $1,897,931, a decrease of 67% from $5,755,007 in Q2 2023[94]. - General and administrative expenses decreased by $1,975,249, or 60%, from $3,272,900 in Q2 2023 to $1,297,651 in Q2 2024[95]. - Research and development expenses dropped by $1,880,088, or approximately 78%, from $2,395,589 in Q2 2023 to $515,501 in Q2 2024[96]. - General and administrative expenses decreased to $3,231,404 for the six months ended June 30, 2024, down 48% from $6,192,700 in 2023[100]. - Research and development expenses for the six months ended June 30, 2024 were $973,656, a decrease of approximately 77% from $4,249,981 in 2023[101]. - Depreciation and amortization expense for the six months ended June 30, 2024 was $170,188, a decrease of approximately 2% from $173,004 in the same period of 2023[102]. Cash Flow and Liquidity - The company has significant liquidity needs and potential requirements for additional funding[79]. - As of June 30, 2024, the company had cash of $3,502,551 and working capital of $4,874,594, which is insufficient to meet its operating cash needs for the next 12 months[108]. - The company had operating cash outflows of $5,487,520 for the six months ended June 30, 2024, compared to $9,602,930 in 2023[112]. - Net cash provided by financing activities was $6,692,699 during the six months ended June 30, 2024, compared to a net cash used of $1,052,057 in 2023[115]. Business Development - The company created over 1,000 novel psychedelic molecular compounds and derivatives housed in its proprietary Psybrary™[82]. - The company is advancing its lead program, EB-002, for the treatment of psychiatric disorders, and EB-003, targeting difficult-to-address mental health disorders[81]. Warrant and Investment Liabilities - The change in fair value of warrant liabilities resulted in income of $20,844 for the six months ended June 30, 2024, compared to a loss of $183,164 in 2023[103]. - The change in fair value of investment option liability resulted in income of $19,165 for the six months ended June 30, 2024, compared to a loss of $962,636 in 2023[104]. Share Issuance - The company issued 1,668,000 shares of common stock for gross proceeds of $2,392,502 during the six months ended June 30, 2024[84]. - The company entered into warrant exercise inducement letters, resulting in the exercise of 1,122,000 shares at a reduced price, generating total proceeds of $280,500[85].

Financial Results - Enveric Biosciences Inc. reported its financial results for Q2 2024, ending June 30, 2024[2] - Specific financial metrics and performance data were not detailed in the provided content, indicating a need for further review of the press release for comprehensive insights[2] Corporate Update - The company issued a press release on August 12, 2024, providing a corporate update alongside the financial results[2]

Core Viewpoint - Enveric Biosciences (NASDAQ:ENVB) stock is experiencing significant trading activity without any accompanying news or analyst updates, indicating potential volatility and speculative interest in the stock [1][2][6]. Trading Activity - ENVB stock is seeing heavy pre-market trading with over 13 million shares exchanged, compared to its average daily trading volume of approximately 583,000 shares [4]. - The stock is currently up 17.8% as of Tuesday morning, although it has declined 60.5% year-to-date prior to this increase [7]. Company Profile - Enveric Biosciences is classified as a penny stock, with a recent closing price of 50 cents and a market capitalization of approximately $3.961 million [5]. - The company's float is relatively small at 7.68 million shares, which can contribute to increased volatility and susceptibility to market manipulation [4][6].

Core Insights - Enveric Biosciences has designated EB-003 as its lead development candidate, targeting severe mental disorders without the hallucinogenic side effects typical of psychedelic drugs [2] - The company is expanding its footprint in the psychedelic space through significant partnerships and out-licensing agreements, potentially unlocking substantial value from its drug candidate library [3][4][5] - Enveric's valuation has been updated to $6.64 per share based on the latest financial data and share figures [7] Development of EB-003 - EB-003 is a neuroplastogenic molecule aimed at treating conditions like depression, anxiety, and addiction, with a focus on promoting neuroplasticity without hallucinogenic effects [2] - The compound is currently in pre-clinical development, with a Pre-IND meeting with the FDA planned for early 2025 [2] - Preliminary data indicates EB-003's ability to bind to the 5-HT2A receptor and induce neuroplasticity in animal models, suggesting potential for human trials [2] Strategic Partnerships - Enveric has initiated a business development campaign, executing seven non-binding out-license term sheets with four strategic partners, which could yield up to $410 million in milestone payments and future royalties if finalized [3] - A notable agreement includes a $66.5 million term sheet with MindBio Therapeutics for out-licensing novel psilocin prodrug candidates targeting mental health disorders [4] - Enveric has also signed two term sheets with an undisclosed biotechnology company for cannabinoid-COX-2 conjugate compounds aimed at joint disease treatment, potentially generating up to $61 million in milestone payments [5] Financial Outlook - The strategic partnerships are expected to accelerate the development of Enveric's drug candidates while reducing financial and operational risks [6] - The updated valuation reflects the company's potential for significant upside through milestone payments and royalties from its innovative drug portfolio [7]