Street Calls of the Week
CAMBRIDGE, Mass. - Enveric Biosciences (NASDAQ:ENVB), a biotechnology company focused on neuroplastogenic small molecules for psychiatric disorders, announced it will implement a 1-for-12 reverse stock split effective Tuesday, October 28, 2025. The company’s stock, currently trading at $0.67, has experienced significant pressure, falling over 85% year-to-date according to InvestingPro data.
The company’s common stock will continue trading on the Nasdaq Capital Market under the symbol ENVB but will begin trading on a split-adjusted basis when markets open on October 28.
The reverse split follows a delisting determination from Nasdaq on October 22, 2025, for failure to maintain the required minimum bid price. Enveric’s stockholders had previously approved the potential for a reverse split at the company’s annual meeting on May 29, 2025, authorizing a ratio in the range of 1-for-5 to 1-for-50.
The action will reduce Enveric’s outstanding common shares from approximately 6.2 million to about 518,297 shares. All stockholders will be affected uniformly, with fractional shares rounded up to the nearest whole number.
Proportional adjustments will be made to the number of shares issuable upon exercise or conversion of equity awards and warrants, as well as to applicable exercise prices. Stockholders holding shares through brokerage accounts will have their shares automatically adjusted, while those holding certificated shares are not required to exchange their existing stock certificates.
Enveric is developing compounds designed to promote neuroplasticity without hallucinogenic effects. Its lead candidate, EB-003, is designed to engage both 5-HT2A and 5-HT2B receptors to deliver antidepressant and anxiolytic effects.
The information in this article is based on a company press release statement.
In other recent news, Enveric Biosciences announced the completion of significant manufacturing milestones for its lead drug candidate, EB-003. The company has successfully produced a pharmaceutically compatible salt form of the drug, developed a scalable synthetic route, and manufactured a 1-kilogram batch to support upcoming regulatory activities. Additionally, Enveric has raised approximately $2.2 million through the exercise of certain outstanding warrants, originally issued in February 2025, at a reduced price of $0.915 per share. The funds were raised from the exercise of series A and B warrants for a total of 2,424,998 shares of common stock.
In a separate development, Enveric has hired Fish and Richardson P.C. to contest a Post-Grant Review petition filed by Gilgamesh Pharmaceuticals against one of its patents related to Bretisilocin, a molecule currently in clinical trials. This patent is part of a transaction where AbbVie agreed to acquire Bretisilocin for up to $1.2 billion. Furthermore, Enveric’s Board of Directors has authorized its Capital Markets Committee to explore potential Digital Asset Treasury strategies. The committee is permitted to negotiate non-binding term sheets, subject to further review and approval by the full Board.
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