Shares of biotechnology company Enveric Biosciences (NASDAQ:ENVB) are up nearly 86% at the time of publishing today after it bagged a notice of allowance from the U.S. Patent and Trademark Office (USPTO) for a patent application associated with its EVM201 series.
This is the second notice of allowance associated with the series and the patent includes composition of matter claims over a “family of novel prodrug derivatives of psilocin that is structurally different from the recently announced notice for C4-carbonothioate-substituted tryptamine derivatives.”
The two patent families provide the company with a robust IP portfolio related to psilocin prodrugs. The company plans to file multiple additional claims associated with its EVM201 and EVM301 series over the coming months and already has 10 distinct patent families covering its EVM301 series so far.
Further, today’s win comes fresh on the heels of the company scoring a notice of allowance associated with EB-373 earlier this month.
With today’s price gains, ENBV shares are now up nearly 79.1% year-to-date.
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