Enveric Biosciences (ENVB) Stock Surges on Patent Win: News, Forecast & Analysis as of December 10, 2025

Enveric Biosciences, Inc. (NASDAQ: ENVB) has suddenly jumped back onto traders’ screens. After closing regular trading on Tuesday, December 9, at about $5.92, the stock ripped more than 70% in after‑hours trading to around $10.29, driven by a fresh U.S. patent win for one of its key drug programs. ^[1]

Pre‑market feeds early on December 10 show ENVB up roughly 77% to around $10.48 on StockAnalysis’ screener, while a separate live quote stream cited the name closer to $12.45, underlining just how chaotic price discovery is in this ultra‑thin micro‑cap. TechStock²+1

At the center of the move: a new Notice of Allowance from the U.S. Patent and Trademark Office (USPTO) for Enveric’s EVM301 series of mental‑health drug candidates — part of a broader intellectual‑property push that’s starting to look like the real asset behind this tiny biotech. ^[2]

ENVB stock today: a violent bounce in a battered micro‑cap

Before this week’s spike, Enveric had been the kind of chart that makes risk‑managers quietly weep.

The stock’s closing price on December 9 was $5.92, down 2.47% on the day, after spending recent weeks drifting between roughly $5.60 and $6.90 per share. ^[3]
Over the past year, ENVB’s price has fallen around 90%, according to analyst and market‑data sites that track its 12‑month performance. ^[4]
Benzinga notes a year‑to‑date decline of about 91% even after multiple earlier rallies, with a 52‑week range of roughly $4.88 to $96.30 — a range that screams “micro‑cap biotech plus reverse splits.” ^[5]

On December 9, 24/7 Market News flagged ENVB as a momentum name: the stock opened at $6.04, traded up to around $8.00 intraday, and later snapshots showed it near $11.22, up close to 90% at one point as volume spiked. ^[6]

In other words: Tuesday’s regular session looked speculative already. The patent headline hitting mainstream feeds, then being amplified by after‑hours algos and pre‑market screeners, turned a noisy day into a full‑blown parabolic move.

The catalyst: new patent allowance for the EVM301 mental‑health series

The immediate trigger for the surge is a December 9 press release announcing that Enveric received a Notice of Allowance from the USPTO for a patent application covering its EVM301 Series of compounds. ^[7]

Key points from the company and subsequent coverage:

The allowed patent is titled “N‑heterocycle substituted tryptamine derivatives and methods of using” and includes both composition‑of‑matter and method‑of‑use claims. ^[8]
The EVM301 series consists of “neuroplastogenic” small molecules — drugs designed to promote neuroplasticity (the brain’s ability to rewire itself) without hallucinogenic effects, targeting psychiatric and addiction disorders where current treatments are limited. ^[9]
Management frames this as a significant expansion of its patent estate around lead asset EB‑003 and related scaffolds, reinforcing the idea that Enveric’s value is in its IP library rather than in near‑term revenues. ^[10]

Investing.com summarized the impact bluntly: at around $6.07 per share before the after‑hours fireworks, Enveric’s market capitalization was only about $3.7 million, with the stock up modestly over the prior week but still down more than 60% in six months. ^[11]

That combination — tiny market cap, new patent, and a story tied to cutting‑edge mental‑health drugs — is exactly the kind of thing that can set off algorithmic “what’s moving” feeds and speculative traders at the same time.

IP momentum: EVM401 patents and the AbbVie‑linked patent fight

The EVM301 patent is not an isolated event. Enveric has been stacking IP wins throughout 2025 across multiple programs:

On November 26, the company announced a fourth Notice of Allowance for its EVM401 series of compounds. The upcoming patent, titled along the lines of “Substituted ethylamine fused heterocyclic mescaline derivatives,” broadens coverage of potential non‑hallucinogenic mescaline‑derived neuroplastogens for neuropsychiatric and addiction disorders. ^[12]
Earlier in the year, Enveric also highlighted additional U.S. patents tied to both EVM301 and EVM401 series, extending protection across several distinct molecule classes discovered via its internal “Psybrary” discovery platform. ^[13]

There’s also an IP subplot that has caught bigger‑picture biotech investors’ attention: the Bretisilocin dispute.

On October 15, Enveric disclosed that Gilgamesh Pharmaceuticals filed a Post‑Grant Review (PGR) petition challenging Enveric’s issued U.S. Patent No. 12,138,276, which covers halogenated psilocybin derivatives. ^[14]
The company says this patent includes claims potentially relevant to Bretisilocin (GM‑2505), a psychedelic‑derived drug candidate that AbbVie agreed to acquire from Gilgamesh in a deal valued at up to $1.2 billion. ^[15]
In response, Enveric hired IP heavyweight Fish & Richardson P.C. to defend the ’276 patent, while stressing that its core pipeline — including EB‑003 — is protected by separate patent families and is not itself the target of the PGR. ^[16]

For a micro‑cap, having a patent portfolio that might intersect with a multi‑billion‑dollar big‑pharma asset is a big narrative hook. It doesn’t mean Enveric will win that fight or monetize those claims, but it helps explain why specialized biotech media and IP watchers have been following the story closely. ^[17]

Pipeline update: EB‑003 edging toward first‑in‑human trials

Behind the IP headlines, the actual pipeline work centers on one drug: EB‑003.

From Enveric’s own materials and recent quarterly update: ^[18]

EB‑003 is the company’s lead small‑molecule candidate for difficult‑to‑treat mood and anxiety disorders.
It’s designed as a dual agonist at 5‑HT₂A and 5‑HT₁B serotonin receptors — the same broad neighborhood that classic psychedelics act in, but engineered to promote neuroplasticity without triggering hallucinogenic effects.
The company positions EB‑003 as a fast‑acting, durable antidepressant/anxiolytic that could be given in an out‑patient setting, rather than in the tightly supervised psychedelic‑therapy model. ^[19]

In the third quarter of 2025, Enveric reported several milestones moving EB‑003 closer to the clinic: ^[20]

Pre‑IND dose‑range finding studies established a maximum tolerated dose, supporting progression into IND‑enabling toxicology.
In a preclinical PTSD model, EB‑003 reduced context‑induced freezing behavior in rodents one hour after dosing, which the company interprets as a promising signal for anxiety and trauma‑related disorders.
The FDA responded to Enveric’s pre‑IND Type B meeting request, and management says they remain on track for an IND submission in 2026.

On the manufacturing side, an October 2 CMC update highlighted that Enveric has: ^[21]

Identified a pharmaceutically acceptable salt form of EB‑003,
Developed a scalable, reproducible synthetic route, and
Produced a 1‑kilogram batch of EB‑003 to support GLP toxicology and formulation work.

That set of steps doesn’t guarantee clinical success — not even close — but it does move EB‑003 from “interesting chemical idea” toward the point where regulators will allow the first human to swallow a dose.

Financial position: limited cash, ongoing dilution, and a reverse split

All of this science and IP has to be paid for somehow, and Enveric’s balance sheet is the part of the story that should give sober investors pause.

From the Q3 2025 results: ^[22]

Net loss for the quarter ended September 30, 2025 was $3.4 million, or $10.81 per share (split‑adjusted), compared with a $2.1 million loss in the same quarter of 2024.
As of September 30, the company had only $3.8 million in cash and cash equivalents.
Enveric notes it “continues to fund operations through various financing tools” and had raised about $7.9 million in net proceeds over the first nine months of 2025, including warrant exercises.

Earlier in 2025, Enveric closed a $5 million public offering, part of a long string of small capital raises that have repeatedly diluted shareholders. ^[23]

When the share price sagged below Nasdaq’s minimum bid price, the company executed a 1‑for‑12 reverse stock split, effective October 28, 2025, shrinking the outstanding share count from roughly 6.2 million to about 518,000 shares. ^[24]

The reverse split doesn’t fix anything fundamental. It just moves decimal places:

Listing on Nasdaq stays alive — for now.
Per‑share numbers (like EPS and price targets) look bigger.
The actual enterprise value and amount of R&D that must be financed remain almost unchanged.

Investing.com also notes that Enveric’s board has authorized exploring “Digital Asset Treasury” strategies — essentially the idea of holding or using crypto or other digital assets in its capital structure — a fashionable, but risky, move for a company that already needs conventional cash for trials. ^[25]

ENVB stock forecasts: Wall Street vs quant models

Given how tiny Enveric is, you might expect it to be ignored by analysts. Instead, it has a small but unusually noisy set of forecasts, ranging from modest downside to fantasy‑level upside.

Traditional Wall Street coverage

Different data aggregators don’t fully agree, but a broad picture emerges:

MarketBeat tracks research from two analysts and reports an average 12‑month price target of $120, with both high and low targets at $120. Based on recent prices in the mid‑single digits, that implies roughly 1,900% upside. The consensus rating, however, is only “Hold”, reflecting one Buy recommendation and one Sell (from Weiss Ratings). ^[26]
StockAnalysis shows a current “Strong Buy” rating from HC Wainwright, which reiterated a $120 target on March 6, 2025. Older coverage includes eye‑watering historical targets in the thousands of dollars (pre‑reverse‑split and under very different share counts), which are best viewed as museum pieces rather than serious guidance. ^[27]
Fintel aggregates forecasts and arrives at an average one‑year price target of $122.40, with a range of about $121.20 to $126.00, again implying more than 1,900% upside from late‑2025 prices. ^[28]

These targets mostly come from small‑cap or boutique research shops that specialize in speculative biotech. They are highly sensitive to assumptions about:

The success of EB‑003 in clinical trials,
The ability to fund those trials without crippling dilution, and
The possibility of future licensing or buyout deals.

Multi‑year estimates and AI‑style aggregators

Other platforms take a more model‑driven approach:

MLQ.ai, which combines analyst data and machine‑learning models, lists a consensus rating of “Buy” based on four analysts, but notes that no current 12‑month price targets are available. Instead, it shows projections such as $10 million in 2025 revenue with a net loss of about $6.5 million and deeply negative EPS, with gradually improving earnings over 2026–2028 as hypothetical deals or trials progress. ^[29]
StockScan‑style models, referenced in TS²’s pre‑market write‑up, peg an “average 30‑day target” for ENVB somewhere around $115 — a number that’s mathematically consistent with the $120–$122 Wall Street targets but is clearly being extrapolated from extremely thin coverage and past price volatility. TechStock²+1

Technical and quant forecasts

On the purely technical side, CoinCodex models ENVB using indicators like moving averages and momentum: ^[30]

Technical sentiment is labeled “Neutral”, with a slight bullish tilt.
The platform’s short‑term forecast has the stock trading around $5.96–$5.98 over the next days and weeks — essentially flat versus recent prices.
Its one‑year prediction sits near $5.85, implying about 2% downside, and its long‑term projection actually shows sharp value erosion by 2030, leading the site to classify the name as “not a good stock to buy” based on its model.

The gap between “$120+ price targets” and “flat‑to‑down quant forecasts” tells you less about Enveric’s true value and more about the limitations of all these models:

Traditional analysts are guessing what EB‑003 could be worth if it proves safe and effective and if the company executes on funding and partnership plans.
Technical models mostly stare at recent trading and extrapolate it forward, which is notoriously fragile in small, event‑driven stocks.

In both cases, you’re looking at scenario math layered on top of very little hard data.

Key risks: why ENVB is still extremely speculative

Even after a big patent‑driven rally, Enveric Biosciences remains a high‑risk micro‑cap biotech. Some of the main risk factors:

Clinical risk
EB‑003 has not yet entered human trials. Plenty of drugs look promising in rodent PTSD models and preclinical assays but fail once they encounter human biology (or safety signals) in Phase 1 and Phase 2. ^[31]
Financing and dilution risk
With only $3.8 million in cash at the end of Q3 and ongoing quarterly losses in the low‑single‑digit millions, Enveric will almost certainly need to raise more capital before and during clinical development. That usually means more share issuances, more dilution, and potential pressure on the stock price during quiet news periods. ^[32]
Listing and liquidity risk
The 1‑for‑12 reverse split bought time on Nasdaq but didn’t change the underlying volatility. The stock still trades on thin volume and can swing by double‑ or triple‑digit percentages in a single session, as the last 48 hours demonstrate. Another prolonged decline could bring back minimum‑bid‑price problems. ^[33]
Intellectual‑property uncertainty
While EVM301/EVM401 patent wins are positive, the PGR challenge around the ’276 patent introduces legal uncertainty and potential legal costs. Even though EB‑003 is in a separate patent family, any negative ruling in the Bretisilocin‑related dispute could dent investor confidence in Enveric’s broader IP strategy. ^[34]
Macro and sector sentiment
As the TS² pre‑market piece notes, today’s biggest movers on Fed‑decision day are mostly micro‑cap biotechs and SPACs, with traders chasing event‑driven volatility rather than fundamentals. ENVB’s rally fits that pattern perfectly — which also means it could unwind just as quickly once the initial excitement fades. TechStock²+1

None of these risks automatically disqualifies ENVB as an investment, but they push it firmly into “speculative” territory — the kind of position where you should be emotionally and financially prepared for a near‑total loss if things go wrong.

Investment takeaway: what ENVB’s patent‑driven spike really means

Taken together, here’s what the December 10, 2025 picture of Enveric Biosciences looks like:

The stock has staged a dramatic short‑term rally on the back of a new EVM301 patent allowance, compounded by pre‑existing momentum, micro‑cap illiquidity and aggressive speculative flows. ^[35]
The company’s core story is now clearly centered on EB‑003 plus a growing library of non‑hallucinogenic neuroplastogens, protected by an increasingly dense web of patents – some of which may intersect with big‑pharma assets such as AbbVie’s Bretisilocin. ^[36]
Fundamentally, Enveric is still pre‑revenue, burning cash, and reliant on capital markets, with a recent reverse split and a track record of dilution. ^[37]
Forecasts are all over the map: a handful of niche Wall Street analysts see multi‑bagger upside based on successful clinical development, while quant and technical models mostly predict flat‑to‑negative returns over the next year. ^[38]

For traders, ENVB is a textbook “catalyst momentum” name: tiny float, hot theme (psychedelic‑adjacent mental‑health drugs), and a fresh patent headline to justify wild swings.

For longer‑term investors, the story is slower and more demanding:

Watch the EB‑003 IND timeline and the design of first‑in‑human trials.
Track the PGR outcome and any settlement or licensing discussions around the Bretisilocin‑adjacent patent.
Pay close attention to future financings, their size, and their pricing relative to the market.

Until those pieces come into clearer focus, ENVB is best thought of as an option on IP‑driven upside in neuropsychiatry — and like most options, it comes with the very real possibility of expiring worthless.