Enveric Biosciences, Inc. (NASDAQ: ENVB) declared that it has entered into a conclusive deal with Diverse Biotech under which ENVB will buy a proprietary, permanent license for a novel molecule from Diverse Biotech. ENVB is planning to study and develop these new drugs with the goal of lessening the adverse reactions that cancer sufferers encounter.
Enveric is planning to grow its pipeline of development candidates that pursue to offer exceptional healing products for the affected role. Under the terms of the agreement, ENVB will add five molecules to its list. Out of five molecules, one is pain-centered, and four molecules are dermatology-centered.
Shares of Enveric soared 54.95% as it gained +1.61 during the trading session of Wednesday. It has recorded a trading volume of 264.11 million in comparison to the average volume of 1.86 million. In the past 52-weeks of trading, shares of the firm fluctuated between the 52-week low range of $2.36 and the 52-week high range of $21.20. Enveric has a total market capitalization of $87.71 million.
The main focus of Enveric is to serve cancer sufferers. ENVB is continuously exploring new methods to eradicate or diminish cancer cure adverse reactions for sufferers in need. Enveric is confident that the collaboration will assist the firm to increase its possible cure for cancer sufferers who are experiencing the illness all over the world.