ENVB Stock: Why Little-Known Enveric Biosciences is Soaring Today

Enveric Biosciences (NASDAQ:ENVB) stock is soaring Wednesday morning after announcing its purchase of exclusive licenses for five novel molecules from Diverse Biotech.

A pile of brightly colored pills in varying sizes and shapes.

Source: Shutterstock

In a press release Wednesday morning, Enveric announced its acquisition of the rights to four dermatology-focused and one pain-focused molecule developed by Diverse Biotech. The company hopes to utilize these molecules in its research going forward.

Enveric is a small biopharma outfit working in the development of CBD medicines. The company aims to improve the quality of life of cancer patients by easing side effects associated with radiation treatment.

This relationship will allow the company to experiment with its longstanding CBD research alongside more traditional pharmaceuticals. Additionally, it gives Enveric access to Diverse’s team of scientists for assistance in synthesizing these medicines. The collaboration will allow Enveric to expand its research from radio-dermatitis and neuropathy treatment to include oncological treatments as well.

Alongside the announcement, Enveric chairman and CEO David Johnson expressed his excitement toward the partnership:

“We are confident that, with this impressive team of experts and Diverse Biotech’s conjugate technology platform, this relationship can help us to expand our potential treatment options for cancer patients who continue to suffer around the globe.”

Investors should be keeping a close eye on ENVB stock. This news doesn’t just reinforce Enveric’s place in the biopharma world. It also opens the door for the company to expand its focus going forward.

Investors should, however, be aware of the risks with ENVB stock. Enveric is a very small company, with a market capitalization of about $100 million.

ENVB stock was up 120% as of Wednesday morning.

On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article.

With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks. 

Read More: Penny Stocks — How to Profit Without Getting Scammed 


Article printed from InvestorPlace Media, https://investorplace.com/2021/03/envb-stock-why-little-known-enveric-biosciences-is-soaring-today/.

©2021 InvestorPlace Media, LLC