NAPLES, Fla., Nov. 8, 2021 /PRNewswire/ - Enveric
Biosciences (NASDAQ: ENVB) ("Enveric" or the
"Company"), a patient-centric biotechnology company developing
next-generation mental health and oncology treatments by leveraging
psychedelic-derived molecules for the mind and synthetic
cannabinoids for the body, today announced it has been
included in the new AdvisorShares Psychedelics ETF, trading under
the ticker symbol "PSIL" on the NYSE Arca exchange.
PSIL is an ETF that focuses on investments in biotechnology,
pharmaceutical and life sciences companies that are leading the
nascent but advancing psychedelic industry. Medical research has
indicated various psychedelic assets offer enormous medical and
therapeutic potential to treat the prevalent mental health crisis
and neurological disorder. The ETF is actively managed by
Dan Ahrens, Chief Operating Officer
of AdvisorShares, and concentrates its investments in companies
receiving the majority of their net revenue or allocating the
majority of their assets from psychedelic drugs.
"The inclusion of Enveric Biosciences in AdvisorShares
Psychedelics ETF is an important milestone for us as it validates
Enveric's platform of next-generation psychedelic and cannabinoid
medicines. The addition of Enveric will also help bolster our
visibility and exposure across the global investment community,"
said Dr. Joseph Tucker, Chief
Executive Officer of Enveric Biosciences. "We are proud to be
acknowledged by PSIL as an emerging leader in the fast-growing
psychedelic industry."
You can find additional information on the AdvisorShares
Psychedelics ETF here.
About Enveric Biosciences
Enveric
Biosciences (NASDAQ: ENVB) is an innovative biotechnology
company developing a next-generation mental health and oncology
treatment clinical discovery platform, leveraging
psychedelic-derived molecules for the mind and synthetic
cannabinoids for the body. Enveric's robust pipeline supports drug
development from the clinic to commercialization for millions of
patients in need around the world suffering from conditions that
include cancer-related distress, PTSD and more. For more
information, please visit www.enveric.com.
About AdvisorShares
AdvisorShares is a leading
provider of actively managed ETFs. For financial professionals and
investors requesting more information, call 1-877-843-3831 or
visit www.advisorshares.com. Follow @AdvisorShares
on Twitter and Facebook for more insights.
Forward-Looking Statements
This press release
contains forward-looking statements and forward-looking information
within the meaning of applicable securities laws. These statements
relate to future events or future performance. All statements other
than statements of historical fact may be forward-looking
statements or information. Generally, forward-looking statements
and information may be identified by the use of forward-looking
terminology such as "plans", " expects" or "does not expect",
"proposed", "is expected", "budgets", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases, or by the use
of words or phrases which state that certain actions, events or
results may, could, would, or might occur or be achieved.
Forward-looking statements consist of statements that are not
purely historical, including any statements regarding beliefs,
plans, expectations, or intentions regarding the future. Such
forward-looking statements are based on the beliefs of management
as well as assumptions made by and information currently available
to management. Actual results could differ materially from those
contemplated by the forward-looking statements as a result of
certain factors, including, but not limited to, the ability to
achieve the synergies and value creation contemplated by the
amalgamation; the ability to promptly and effectively integrate
MagicMed's businesses; disruption from the integration of MagicMed
making it more difficult to maintain business, contractual and
operational relationships; the impact of the novel coronavirus
(COVID-19) on Enveric's ongoing and planned clinical trials; the
geographic, social and economic impact of COVID-19 on Enveric's
ability to conduct its business and raise capital in the future
when needed; delays in planned clinical trials; the ability to
establish that potential products are efficacious or safe in
preclinical or clinical trials; the ability to establish or
maintain collaborations on the development of therapeutic
candidates; the ability to obtain appropriate or necessary
governmental approvals to market potential products; the ability to
obtain future funding for developmental products and working
capital and to obtain such funding on commercially reasonable
terms; Enveric's ability to manufacture product candidates on a
commercial scale or in collaborations with third parties; changes
in the size and nature of competitors; the ability to retain key
executives and scientists; and the ability to secure and enforce
legal rights related to Enveric's products, including patent
protection. A discussion of these and other factors, including
risks and uncertainties with respect to Enveric, is set forth in
Enveric's filings with the Securities and Exchange Commission
(SEC), including the Company's Annual Report on Form 10-K and its
Quarterly Reports on Form 10-Q. Enveric disclaims any intention or
obligation to revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by law.
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SOURCE Enveric Biosciences