Core Insights - Enveric Biosciences Inc. (NASDAQ:ENVB) shares experienced a significant increase of 73.82% in after-hours trading, reaching a price of $10.29, following a closing price of $5.92, which was down 2.47% on the same day [1]. Patent Announcement - The company received a Notice of Allowance from the U.S. Patent and Trademark Office for a patent application related to its EVM301 Series molecules, aimed at potential treatments for mental health disorders [2]. - The patent titled "N-heterocycle substituted tryptamine derivatives and methods of using" includes claims that could broaden Enveric's pipeline by covering additional neuroplastogenic, non-hallucinogenic molecules for treating neuropsychiatric and addiction disorders [3]. Product Development - The patent is expected to strengthen Enveric's EVM301 Series portfolio, which features its lead asset, EB-003, a non-hallucinogenic serotonin receptor agonist under development for depressive and anxiety disorders [4]. Company Strategy - Joseph Tucker, Director and CEO of Enveric, emphasized the importance of reinforcing the patent estate around EB-003 and the EVM301 Series of compounds to generate value for shareholders [5]. Stock Performance - Despite the recent surge, ENVB stock has seen a substantial decline of 91.57% year-to-date, with a market capitalization of $3.45 million and an annual trading range between $4.88 and $96.30 [5]. - Benzinga Edge Stock Rankings indicate a negative price trend for ENVB across all time frames [6].