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ENVB on Nasdaq

Enveric Biosciences, Inc.

Enveric Biosciences, Inc. is a Biotechnology company.1 It is headquartered in Cambridge, Massachusetts.1 Its shares trade on Nasdaq under the symbol ENVB.1

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Last updated Oct 21, 2026.

Overview

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  • TickerENVB on Nasdaq1
  • IndustryPharmaceutical Preparations1
  • HeadquartersCambridge, Massachusetts1
  • Incorporated inDE3
  • Business address245 First Street Riverview Ii 18Th Floor, Cambridge, Ma 021423
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation

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Biosciences, Inc. licensed out its EVM201 portfolio to MycoMedica Life Sciences, PBC on November 7, 2024, as announced at https://www.enveric.com/news/enveric-biosciences-signs-out-licensing-agreement-with-mycomedica-life-sciences-for-eb-002/.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2019

20.4%Gross margin6
-5.8%Operating margin7
-6.0%Net margin7

Where the money goes

Where each dollar of revenue went, fiscal 2019

  • Cost of revenue80¢$31.8M
  • Selling, general and admin6¢$2.3M
  • Other costs13¢$5.4M
  • Interest0¢$81.8K
  • Income tax1¢$388.7K

Out of $39.9M in revenue.67 The company lost money this year.

Financial statements

Every line of the income statement as filed: the last 2 fiscal years, latest first.10

Period ending2025-12-312024-12-31
General and administrative$5.8M$6.5M
Research and development$2.8M$2.8M
Depreciation and amortization$200.9K$337.5K
Total operating expenses$8.8M$9.6M
Loss from operations-$8.8M-$9.6M
Other income$2.6K$66.0K
Interest (expense) income, net-$106$219
Total other income$2.5K$66.2K
Net loss before income taxes-$8.8M-$9.6M
Income tax expense-$8.9K
Net loss-$8.8M-$9.6M
Less deemed dividend on inducement of warrants$3.4M
Net loss attributable to shareholders-$12.1M-$9.6M
Foreign currency translation$14.5K-$24.8K
Comprehensive loss-$8.8M-$9.6M
Net loss per share - basic-$36.24-$228.48
Net loss per share - diluted-$36.24-$228.48
Weighted average shares outstanding, basic334.7K shares41.9K shares
Weighted average shares outstanding, diluted334.7K shares41.9K shares

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Corporate structure

Enveric Biosciences, Inc. sits at the top of its group. 8 entities, 3 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Enveric Biosciences, Inc.

  • ARMISTICE CAPITAL, LLC Filed SCHEDULE 13G on Enveric Biosciences, Inc., latest Aug 14, 2026 (3 filings since Feb 14, 2024)
  • Lind Global Fund III LP Filed SCHEDULE 13G/A on Enveric Biosciences, Inc., latest Aug 14, 2026 (3 filings since Feb 4, 2026)
  • Ayrton Capital LLC Filed SCHEDULE 13G/A on Enveric Biosciences, Inc., latest Aug 13, 2026 (2 filings since Nov 13, 2025)
  • INTRACOASTAL CAPITAL, LLC Filed SCHEDULE 13G on Enveric Biosciences, Inc., latest Feb 2, 2026 (8 filings since Aug 1, 2022)
  • AdvisorShares Trust Filed SCHEDULE 13G/A on Enveric Biosciences, Inc., latest Jan 5, 2026 (6 filings since Feb 14, 2023)
  • Lichti Braeden Filed SCHEDULE 13G/A on Enveric Biosciences, Inc., latest Dec 10, 2025 (2 filings since Dec 5, 2025)
  • NORTHSTRIVE FUND II LP Filed SCHEDULE 13G/A on Enveric Biosciences, Inc., latest Dec 10, 2025 (2 filings since Dec 5, 2025)
  • Orca Capital AG Filed SCHEDULE 13G/A on Enveric Biosciences, Inc., latest Feb 4, 2025 (2 filings since Feb 4, 2025)
  • Hudson Bay Capital Management LP Filed SC 13G/A on Enveric Biosciences, Inc., latest Feb 5, 2024 (2 filings since Feb 7, 2023)
  • ALPHA CAPITAL ANSTALT Filed SC 13G/A on Enveric Biosciences, Inc., latest Feb 6, 2023 (2 filings since Jan 18, 2022)
  • Enveric Biosciences, Inc. Cambridge, Massachusetts
    • 1236567 B.C. Unlimited Liability Company Subsidiary · British Columbia, Canada
    • 1306432 B.C. Unlimited Liability Company Subsidiary · British Columbia, Canada
    • Akos Biosciences, Inc. Subsidiary · Delaware, United States
    • Enveric Biosciences Canada, Inc. Subsidiary · British Columbia, Canada
    • Enveric Therapeutics Pty. Ltd. Subsidiary · Australia
    • Jay Pharma Inc. Subsidiary · Ontario, Canada
    • MagicMed USA, Inc. Subsidiary · Massachusetts, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Enveric Biosciences, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Accumulated depreciation$675.6K10 Dec 31, 2025$489.4K10 Dec 31, 2024+38.0%
Property and equipment, net$159.2K10 Dec 31, 2025$305.8K10 Dec 31, 2024−47.9%

Intangibles and goodwill

ItemLatestA year beforeChange
Finite-lived intangibles, net$42.2K10 Dec 31, 2024$210.9K12 Dec 31, 2023−80.0%

Properties, in its own words

Our principal corporate office is located at 245 First Street, Riverview II, 18th Floor, Cambridge, MA 02142. The Company believes our office is in good condition and is sufficient to conduct our operations. Our principal corporate office is held under a month-to-month operating lease.

Item 2 of the 10-K filed Mar 27, 2026.5

Leadership

Who has led Enveric Biosciences, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Jay Gottlieb2009–2012
  2. Jeffrey E. Eberwein2013–2014
  3. Giri Devanur2015–2017
  4. Brent Kelton2018–2019
  5. David Ian Johnson2021
  6. Joseph Edward Tucker2021–now

Chair

  1. Jeffrey E. Eberwein2013–2014
  2. David Ian Johnson2021

President

  1. Jeffrey E. Eberwein2013–2014
  2. Giri Devanur2015–2017
  3. Avani Kanubaddi2022–2023

Chief financial officer

  1. Greggory A. Schneider2009–2012
  2. Jeffrey E. Eberwein2013–2014
  3. Viraj J. Patel2017–2018
  4. Barry Kostiner2018
  5. Buiten John Van2021
  6. Carter Julian Ward2021–2022
  7. Kevin Michael Coveney2023–now

Chief operating officer

  1. Avani Kanubaddi2021–2023
2010201520202025
Board members and other officers (33)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Chief Medical OfficerBob Dagher named Apr 19, 202357
  • DirectorMichael W. Schabacker named May 4, 202658

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • 1236567 B.C. Unlimited Liability Company British Columbia, Canada4
  • 1306432 B.C. Unlimited Liability Company British Columbia, Canada4
  • Akos Biosciences, Inc. Delaware, USA4
  • Enveric Biosciences Canada, Inc. British Columbia, Canada4
  • Enveric Therapeutics Pty. Ltd. Adelaide, Australia4
  • Jay Pharma Inc. Ontario, Canada4
  • MagicMed USA, Inc. Massachusetts, USA4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • AMERI Holdings, Inc.May 28, 2015 to Dec 30, 20203
  • SPATIALIZER AUDIO LABORATORIES INCSep 16, 1996 to May 27, 20153

Timeline

  1. Aug 14, 20268-K Results of operations59
  2. Jun 9, 20268-K Regulation FD disclosure60
  3. Jun 9, 20268-K Other events61
  4. May 29, 20268-K Executive or director change; Shareholder vote62
  5. May 15, 20268-K Results of operations63
  6. Apr 30, 20268-K Other events64
  7. Apr 20, 20268-K Entered a material agreement; Unregistered sale of shares; Other events65
  8. Mar 27, 20268-K Results of operations66
  9. Feb 6, 20268-K Other events67
  10. Jan 28, 20268-K Entered a material agreement; Unregistered sale of shares68
  11. Jan 9, 20268-K Regulation FD disclosure69
  12. Dec 12, 20258-K Entered a material agreement; Unregistered sale of shares70
  13. Sep 27, 2021New chief executive Joseph Edward Tucker becomes CEO14
  14. Jan 8, 2021New chief executive David Ian Johnson becomes CEO13
  15. Jan 11, 2018New chief executive Brent Kelton becomes CEO15
  16. Jun 3, 2015New chief executive Giri Devanur becomes CEO16
  17. Dec 4, 2013New chief executive Jeffrey E. Eberwein becomes CEO17
  18. Jul 13, 2009New chief executive Jay Gottlieb becomes CEO18

Calendar

Coming up

  1. Nov 13, 2026Reports results for the quarter ending Sep/202671

When it reported results

  1. Aug 14, 2026Reported quarterly or annual results59
  2. May 15, 2026Reported quarterly or annual results63
  3. Mar 27, 2026Reported quarterly or annual results66
  4. Nov 14, 2025Reported quarterly or annual results72
  5. Aug 14, 2025Reported quarterly or annual results73
  6. May 14, 2025Reported quarterly or annual results74
  7. Mar 31, 2025Reported quarterly or annual results75
  8. Nov 14, 2024Reported quarterly or annual results76

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

332 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 124 major events, 51 insider forms, 32 large holders, 6 private raises, 98 other. The latest 20:

  1. Aug 14, 202610-Q EDGAR
  2. Aug 14, 20268-K EDGAR
  3. Aug 14, 2026SCHEDULE 13G EDGAR
  4. Aug 14, 2026SCHEDULE 13G/A EDGAR
  5. Aug 13, 2026SCHEDULE 13G/A EDGAR
  6. Jun 9, 20268-K EDGAR
  7. Jun 9, 2026424B5 EDGAR
  8. Jun 9, 20268-K EDGAR
  9. Jun 3, 20264 EDGAR
  10. Jun 3, 20264 EDGAR
  11. Jun 3, 20264 EDGAR
  12. Jun 3, 20264 EDGAR
  13. Jun 3, 20264 EDGAR
  14. Jun 3, 20264 EDGAR
  15. Jun 3, 20264 EDGAR
  16. Jun 3, 20264 EDGAR
  17. Jun 1, 2026S-8 EDGAR
  18. May 29, 20268-K EDGAR
  19. May 15, 202610-Q EDGAR
  20. May 15, 20268-K EDGAR

The 332 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

1 open-market trades by officers, directors and large owners since October 2021: 1 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 15, 2023PASQUALONE FRANKDirectorBuy1,000$2.14$2.1KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Joseph Tucker$472.4K$879.5K87
2025Kevin Coveney62$396.6K$678.4K87
2025Peter FacchiniPh.D.$221.8K$253.2K87
2024Chief Executive Officer$458.6K$611.5K87
2024Chief Financial Officer$385.0K$478.0K87
2024Chief Innovation Officer$215.3K$274.6K87

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$19.3M 2022–2026
Money received by yearMoney received by year, 2022–2026: $19.3M in all. Private raises (Form D) $19.3M.$0$5M$10M$15M2022 · Private raises (Form D): $12.8M2022202320242025 · Private raises (Form D): $106.6K20252026 · Private raises (Form D): $6.5M2026
Figures by year
YearPrivate raises (Form D)Total
2026$6.5M$6.5M
2025$106.6K$106.6K
2022$12.8M$12.8M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Apr 17, 2026Raised $5 million in a private offering of equity58 Form D: 4 investors so far Form D
  2. Jan 28, 2026Raised $1.5 million in a private offering of securities88 Form D: 5 investors so far Form D
  3. Dec 12, 2025Raised $106,598 in a private offering of securities89 Form D: 15 investors so far Form D
  4. Sep 18, 2025Filed a private offering of securities90 Form D: 12 investors so far Form D
  5. Jul 22, 2022Raised $12.8 million in a private offering of equity57 Form D: 2 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Sio Capital Management, LLC180,000$248.4K0.0%New
Ikarian Capital, LLC100,002$138.0K0.0%New
AdvisorShares Investments LLC35,417$48.9K0.0%+18,443
Renaissance Technologies LLC32,058$44.2K0.0%New
Armistice Capital, LLC32,000$44.2K0.0%New
Boothbay Fund Management, LLC30,142$41.6K0.0%New
XTX Topco Ltd18,990$26.2K0.0%New
StoneX Group Inc.11,814$21.9K0.0%New
Vanguard Capital Management LLC14,912$20.6K0.0%New
Citadel Advisors LLC13,965$19.3K0.0%New
Geode Capital Management, LLC11,794$16.3K0.0%−20,355
Morgan Stanley10,733$14.8K0.0%New
Tower Research Capital LLC (TRC)4,984$6.9K0.0%+3,881
SBI Securities Co., Ltd.2,676$3.7K0.0%+2,593
Jones Financial Companies Lllp1,000$1.4K0.0%No change
Integrated Wealth Concepts LLC702$9690.0%New
UBS Group AG201$2770.0%−3,411
BlackRock, Inc.51$700.0%No change
Hrt Financial LP15,458$210.0%New
Virtu Financial LLC10,690$150.0%New
Wells Fargo & Company/mn1$10.0%No change
Danske Bank A/s1$10.0%No change
National Bank Of Canada /fi/1$10.0%No change
Osaic Holdings, Inc.1$10.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Enveric Biosciences, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGAREnveric Biosciences, Inc.2
  • CIK0000890821
  • Employer ID (EIN)95-44847255
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsDecember 312
  • Industry code (SIC)2834 Pharmaceutical Preparations2
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance2
  • Business address245 First Street Riverview Ii 18Th Floor, Cambridge, MA 021422
  • Phone(617) 444-84002
  • Shares outstanding4,475,884 as of Aug 12, 20269
  • Public float$3.6M as of Jun 30, 20255
  • AuditorCBIZ CPAs P.C., Morristown, New Jersey PCAOB ID 199; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceMay 14, 19962
  • Filings1,056 in all: 8-K (265), 4 (180), 10-Q (92), 3 (48), UPLOAD (46), CORRESP (42), SC 13D/A (24), 10-K (23)2
    All 61 form types

    DEF 14A (23), EFFECT (20), 8-K/A (19), SC 13G/A (18), S-1/A (17), 424B3 (16), 424B5 (16), SC 13G (15), 10-Q/A (12), 425 (12), PRE 14A (12), S-3 (12), SCHEDULE 13G (12), SC 13D (11), S-1 (9), D (8), S-8 (8), SCHEDULE 13G/A (8), 10-K/A (7), DEFA14A (7), S-3/A (7), 10-K405 (6), S-4/A (6), ARS (5), 4/A (4), 424B4 (4), NT 10-K (4), POS AM (4), 3/A (2), AW (2), D/A (2), DEFM14A (2), NT 10-Q (2), PREM14A (2), PRES14A (2), S-4 (2), SC 14F1 (2), 10-K405/A (1), 10-KT (1), 25-NSE (1), 8-A12B (1), 8-A12G (1), 8-A12G/A (1), CERTNAS (1), DEF 14C (1), FWP (1), PRE 14C (1), PRER14A (1), REGDEX (1), RW (1), S-1MEF (1), S-3MEF (1), S-4MEF (1)

  • Latest filingsAnnual report (10-K) Mar 27, 2026
    Quarterly report (10-Q) Aug 14, 2026
    Proxy statement (DEF 14A) Apr 14, 2026
    Latest 8-K (8-K) Aug 14, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.01 par value per shareENVBNasdaq

From the cover page of the 10-K filed Mar 27, 2026 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks Enveric Biosciences, Inc. names in Item 1A of its 10-K filed Mar 27, 2026: 69 risks under these headings, as written.5

  • Business and Financial Condition
  • Regulatory Matters
  • Intellectual Property
  • Common Stock
  • Risks Related to Our Business and Financial Condition
  • Our management and independent registered public accounting firm has expressed substantial doubt about our ability to continue as a going concern as of December 31, 2025. We will be unable to continue to operate for the foreseeable future without additional capital.
  • We are dependent on the success of our prospective product candidates, which are in early stages of development, and there can be no assurances that any such prospects will reach a particular stage in development, receive regulatory approval or be successfully commercialized.
  • We may encounter difficulties that may delay, suspend or scale back our efforts to advance additional early research programs through preclinical development and IND application filings and into clinical development.
  • Catastrophic events could have a material adverse effect on our business, including current plans for product development, as well as any currently ongoing preclinical studies and clinical trials and any future studies or other development or commercialization activities.
  • In the event Artificial Intelligence (“AI”) is used to better effect by our competitors it could lead to countervailing discoveries that may undermine our current pipeline. The use of AI could also lead to potential security risks and breaches.
  • We have significant and increasing liquidity needs and may require additional funding.
  • We depend on our current key personnel.
The other 62 risks
  • There has been limited study on the effects of psychedelic- inspired drug candidates, and future clinical research studies may lead to conclusions that dispute or conflict with our understanding and belief regarding the medical benefits, viability, safety, efficacy, dosing, and social acceptance of psychedelic-inspired drug candidates.
  • Our limited resources have lead us to focus on a particular product candidate. As a result, we may fail to capitalize on product candidates that may be more profitable or for which there is a greater likelihood of medical and commercial success.
  • We expect to face intense competition, often from companies with greater resources and experience than us.
  • Our current and future preclinical and clinical studies may be conducted outside the United States, and the FDA may not accept data from such studies to support any NDAs we may submit after completing the applicable developmental and regulatory prerequisites.
  • Because the results of preclinical studies and earlier clinical trials are not necessarily predictive of future results, we may not have favorable results in our planned and future clinical trials.
  • Regulatory approval is limited by the FDA to those specific indications and conditions for which clinical safety and efficacy have been demonstrated, and we may be subject to fines, penalties or injunctions if we are determined to be promoting the use of our products for unapproved or “off-label” uses.
  • Business interruptions could delay us in the process of developing our product candidates.
  • Our employees may engage in misconduct or other improper activities, including noncompliance with regulatory standards and legal requirements.
  • Our proprietary information, or that of our customers, suppliers and business partners, may be lost or we may suffer security breaches.
  • Failure of our information technology systems, including cybersecurity attacks or other data security incidents, could significantly disrupt the operation of our business.
  • Security breaches, loss of data and other disruptions could compromise sensitive information related to our business, prevent it from accessing critical information or expose it to liability, which could adversely affect our business and its reputation.
  • Our operating results may vary significantly in future periods.
  • Significant ongoing costs and obligations.
  • We may rely on third parties to plan and conduct preclinical studies and clinical trials.
  • Our reliance on third-party contract manufacturers.
  • Termination or non-renewal of key licenses and agreements.
  • Negative results from clinical trials or studies of others and adverse safety events involving our drug candidates.
  • Clinical trials of our drug candidates may fail to demonstrate safety and efficacy to the satisfaction of regulatory authorities or not otherwise produce positive results.
  • Use of raw materials requires regulatory approval
  • Possible increase in costs beyond what is currently expected as a result of regulatory review
  • We have never been profitable, have no products approved for commercial sale, and to date have not generated any revenue.
  • We have no licensing, marketing or distribution experience and will have to invest significant resources to develop those capabilities or enter into acceptable third-party sales and marketing transactions.
  • We may incur substantial costs as a result of litigation or other proceedings relating to patent and other intellectual property rights.
  • Changes in patent law and its interpretation could diminish the value of patents in general, thereby impairing our ability to protect our drug candidates.
  • Failure to manage growth
  • Insurance and uninsured risks
  • Conflicts of interest
  • The psychedelic- inspired medicines industry and market are relatively new in this industry and the market may not continue to exist or grow as anticipated.
  • The psychedelics-inspired medicines industry and market are relatively new, and the industry may not succeed in the long term.
  • Our psychedelic-inspired drug candidates may generate public controversy. Adverse publicity or public perception regarding the psychedelic-inspired APIs we intend to utilize may negatively influence our success and that of our prospective investigational therapies.
  • The expansion of the use of psychedelic-inspired medicines in the medical industry may require new clinical research into effective medical therapies.
  • The psychedelic-inspired medicine industry is difficult to quantify and investors will be reliant on their own estimates of the accuracy of market data.
  • The psychedelic-inspired medicine and biotechnology industries are experiencing rapid growth and increased competition.
  • Changes in legislation, regulations and guidelines.
  • Risks Related to Regulatory Matters
  • Our current and prospective product candidates, and the development thereof, are or will be subject to the various federal and state laws and regulations relating to the safety and efficacy of health products, such as prescription drugs.
  • The psychedelic-inspired drug candidates we are developing or may develop in the future may be subject to controlled substance laws and regulations in the United States and other countries where the product will be marketed, and failure to comply with these laws and regulations, or the cost of compliance with these laws and regulations, may adversely affect the results of our business operations and our financial condition.
  • If the psychedelic-inspired APIs and formulated drug products that we intend to utilize in the future are determined to be Schedule I controlled substances under the CSA in the United States and under similar controlled-substance legislation in other countries, any significant violations of these laws and regulations, or changes in the laws and regulations, may result in interruptions to our development activity or business continuity.
  • Our prospective products will be subject to the various federal and state laws and regulations relating to health and safety.
  • Clinical trials are expensive, time-consuming, uncertain and susceptible to change, delay or termination. The results of clinical trials are open to differing interpretations.
  • Certain third-parties we rely on to conduct our operations are subject to regulatory requirements.
  • Difficulty or delays in enrolling patients in clinical trials may result in delay or prevention of necessary regulatory approvals.
  • Any failure by us to comply with existing regulations could harm our reputation and operating results.
  • We may be subject to federal, state and foreign healthcare laws and regulations and implementation of or changes to such healthcare laws and regulations could adversely affect our business and results of operations.
  • There is a high rate of failure for drug candidates proceeding through clinical trials.
  • Serious adverse events or other safety risks could require us to abandon development and preclude, delay or limit approval of our prospective products or current or future product candidates, limit the scope of any approved label or market acceptance, or cause the recall or loss of marketing approval of products that are already marketed.
  • We may voluntarily suspend or terminate our clinical trials if at any time we believe that the product candidates present an unacceptable risk to participants, or if preliminary data demonstrates that our future product candidates are unlikely to receive regulatory approval or unlikely to be successfully commercialized.
  • Regulatory risks related to psychedelic-inspired drug candidates
  • Our management will be required to devote a substantial time to comply with public company regulations.
  • We have identified a material weakness in our internal control over financial reporting. If we are unable to remediate the material weakness, or if we experience additional material weaknesses in the future, our business may be harmed.
  • Risks Related to Our Intellectual Property
  • We may not be able to adequately protect or enforce our intellectual property rights, which could harm our competitive position.
  • Our success depends on our ability to obtain additional intellectual property and operate without infringing the proprietary rights of others. Infringement claims by third parties may result in liability for damages or prevent or delay our developmental and commercialization efforts.
  • We may be unsuccessful in licensing additional intellectual property to develop new product candidates.
  • If third parties claim that intellectual property used by us infringes upon their intellectual property, our operating profits could be adversely affected.
  • If we are not able to adequately prevent disclosure of trade secrets and other proprietary information, the value of our technology and products could be significantly diminished.
  • We may not be able to protect our intellectual property rights effectively outside of the United States.
  • Risks Related to the Ownership of Our Common Stock
  • Our common stock could be delisted from The Nasdaq Capital Market.
  • The market price of our common stock may be subject to significant fluctuations and volatility, and our stockholders may be unable to resell their shares at a profit and incur losses.
  • We may issue additional equity securities in the future, which may result in dilution to existing investors.
  • Certain stockholders could attempt to influence changes within the Company which could adversely affect our operations, financial condition and the value of our common stock.
  • If securities analysts do not publish research or reports about our business, or if they publish negative evaluations, the price of our common stock could decline.
  • Anti-takeover provisions under Delaware corporate law may make it difficult for our stockholders to replace or remove our board of directors and could deter or delay third parties from acquiring our Company, which may be beneficial to our stockholders.
  • We do not anticipate paying any cash dividends in the foreseeable future.
  • We may not be able to maintain an active trading market for our common stock.
  • We maintain our cash at financial institutions, often in balances that exceed federally insured limits.
  • We may acquire businesses or products, or form strategic alliances, in the future, and may not realize the benefits of such acquisitions.

Legal proceedings

The Company may periodically be involved in legal proceedings, legal actions and claims arising in the ordinary course of business. In the opinion of management, we do not have any pending litigation that, separately or in the aggregate, have a material adverse effect on our financial position, results of operations or cash flows.

The opening of Item 3, Legal Proceedings.5

Sources

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  44. 44
  45. 45
  46. 46
  47. 47
  48. 48
  49. 49
  50. 50
  51. 51
  52. 52
  53. 53
  54. 54
  55. 55
  56. 56
  57. 57
  58. 58
  59. 59
  60. 60
  61. 61
    SEC EDGAROther events
  62. 62
  63. 63
  64. 64
    SEC EDGAROther events
  65. 65
  66. 66
  67. 67
    SEC EDGAROther events
  68. 68
  69. 69
  70. 70
  71. 71
  72. 72
  73. 73
  74. 74
  75. 75
  76. 76
  77. 77
  78. 78
  79. 79
  80. 80
  81. 81
  82. 82
  83. 83
  84. 84
  85. 85
  86. 86
  87. 87
  88. 88
  89. 89
  90. 90