Biotech company to focus on lead candidates after patent portfolio sale
- Enveric Biosciences to sell cannabinoid-related IP
- Patents and applications sold disclose combination of cannabidiol and second therapeutic agents for cancer treatment
- Portfolio includes patents issued in multiple countries
- Enveric to focus on development of lead candidates EB-003 and EB-002
- Stock price of Enveric soared 52% after news of sale
Enveric Biosciences has agreed to sell one of its patent portfolios that links cannabidiol and second therapeutic agents for the treatment of cancer. The sold portfolio includes patents issued in the U.S., Australia, Canada, China, Europe, and Japan, with patent applications pending in Canada, Israel, and Korea. Enveric plans to now focus on the development of its lead candidates EB-003, a first-in-class neuroplastogen designed to eliminate hallucinations, and EB-002, a synthetic prodrug of the active metabolite psilocin. Following the news of the sale, Enveric’s stock soared 52% to $1.28 in premarket trading.
Factuality Level: 8
Factuality Justification: The article provides factual information about Enveric Biosciences selling a patent portfolio related to the combination of cannabidiol and second therapeutic agents for cancer treatment. It includes details about the patents, the buyer not being disclosed, Enveric’s future focus, and the stock price increase. The information presented is clear and does not contain any obvious biases or inaccuracies.
Noise Level: 3
Noise Justification: The article provides relevant information about Enveric Biosciences selling a patent portfolio related to the treatment of cancer using cannabidiol and second therapeutic agents. It includes details about the patents, the buyer, and the company’s future focus. The article stays on topic and supports its claims with specific examples and information. However, it lacks in-depth analysis, accountability, and scientific rigor, which prevents it from scoring higher.
Financial Relevance: Yes
Financial Markets Impacted: Enveric Biosciences
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to a financial transaction involving Enveric Biosciences, a biotechnology company. There is no mention of an extreme event.
Public Companies: Enveric Biosciences (Not available)
Key People: Dean Seal (Author)
Reported publicly:
www.marketwatch.com 
