Enveric Biosciences Stock Skyrockets After Licensing Agreement With Diverse Biotech

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Enveric Biosciences Inc (NASDAQ: ENVB) soars in the premarket in reaction to acquiring an exclusive, perpetual license for novel molecules from Diverse Biotech. It is a biopharmaceutical company focused on developing new molecules for oncology.

  • Through the conjugation of cannabidiol (CBD) with existing standard-of-care drugs via Diverse Biotech's chemistry drug delivery platform, Enveric intends to expand its pipeline of development candidates into oncology supportive care indications.
  • As part of the agreement, Enveric will add to the Company's list of target indications by obtaining five molecules, four of which are dermatology-focused and one that is pain-focused.
  • Price Action: ENVB jumps 65.5% at $4.84 in premarket trading on the last check Wednesday.
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