This Biotech Soared On Key Announcement

By: Tomas Ronolski - AllPennyStocks.com News

Wednesday, February 26, 2025

A Florida-based biotech found a tremendous amount of success on Wednesday after it was announced that its non-hallucinogenic psychedelic compounds showed promise for treating addiction and ADHD, according to a press release.

Traders wasted no time buying up shares of Enveric Biosciences Inc. (Nasdaq:ENVB) following the news, pushing the micro cap up to $4.50/share (+281.36%) at the early session high. This move was the first sign of life from this stock since the gap down earlier this year.

Enveric Biosciences Inc is a patient-centric biotechnology company focused on developing new-generation, naturally occurring chemical compounds, such as cannabinoids to improve the lives of those who are adversely affected by the side effects of cancer treatments. Its product in the pipeline includes Glioblastoma Multiforme (GBM); Radiation Dermatitis and Chemotherapy-Induced Peripheral Neuropathy (CIPN).

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