Enveric Biosciences Inc 2025年季度报告

OR reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act: Emerging growth company☐If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for Cash Flows From Operating Activities: Adjustments to reconcile net loss to cash used in operating activitiesChange in fair value of warrant liability(858)Change in fair value of investment option liability(1,707)Stock-based compensation193,848Amortization of intangibles42,182Depreciation expense38,842 Prepaid expenses and other current assets(46,126)Accounts payable, accrued expenses and other current liabilities(301,281)Due to related parties(131,516)Net cash used in operating activities(2,391,582)(2,598,347Cash Flows From Financing Activities: Proceeds from common stock sold under the Equity DistributionAgreement, net of offering costs Payment for offering costs previously accrued—Net cash provided by financing activities4,448,9146,658,269Effect of foreign exchange rate on changes on cash(3,923) Supplemental disclosure of cash flow transactions:Cash paid for interest Income taxes paid$—$Non-cash financing and investing activities:Non-cash issuance of round-up shares$874$Non-cash issuance of RSA vested shares$146$ See the accompanying notes to the unaudited condensed consolidated financial statements.6 Nature of Operations Enveric’s lead program, the EVM301 Series, and its lead drug candidate, EB-003, are intended to offer a first-in-class, newapproach to the treatment of difficult-to-address mental health disorders, mediated by the promotion of neuroplasticity and without 002 (formerly EB-373), for the treatment of neuropsychiatric disorders. The EVM201 series comprised next generation syntheticprodrugs of the active metabolite, psilocin. In the fourth quarter of 2024, Enveric out-licensed the EVM201 Series program to and milestone payments to Enveric. The Company’s primary focus is to develop our lead asset EB-003 in the EVM301 Series. Reverse Stock SplitThe Company effected a1-for-15 reverse stock split(“Reverse Stock Split”) on January 27, 2025, which began trading on asplit-adjusted basis on January 29, 2025, pursuant to which every15shares of the Company’s issued and outstanding common stockwere reclassified as one share of common stock. The Reverse Stock Split had no impact on the par value of the Company’s common The Company has incurred losses since inception resulting in an accumulated deficit of $108,259,471as of March 31, 2025and further losses are anticipated in the development of its business. Further, the Company has operating cash outflows of $2,391,582 $2,187,533. Since inception, being a research and development company, the Company has not yet generated revenue and theCompany has incurred continuing losses from its operations. The Company’s operations have been funded principally through the issuance of equity. These factors raise substantial doubt about the Company’s ability to continue as a going concern for a period of oneyear from the issuance of these unaudited condensed consolidated financial statements.In assessing the Company’s ability to continue as a going concern, the Company monitors and analyzes its cash and its abilityto generate sufficient cash flow in the future to support its operating and capital expenditure commitments. At March 31, 2025, theCompany had cash of $4,294,435and working capital of $3,650,434. The Company’s current cash on hand is not sufficient enough to include raising additional working capital through public or private equity or debt financings or other sources, and may includeadditional collaborations with third parties as well as disciplined cash spending. Adequate additional financing may not be available to the Company on acceptable terms, or at all. Should the Company be unable to raise sufficient additional capital, the Company may berequired to undertake further cost-cutting measures including delaying or discontinuing certain operating activities.As a result of these factors, management has concluded that there is substantial doubt about the Company’s ability to continueas a going concern for a period of one year after the date of the unaudited condensed consolidated financial statements are issued. TheCompany’s unaudited condensed consolidated financial statements do not include any adjustments that might result from the outcome Basis of Presentation and Principal of ConsolidationThe accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting expected for the year ending December 31, 2025. These unaudited condensed consolidated financial statements should be read inconjunction with the consolidated financial statements for the year ended December 31, 2024, and related notes thereto included in theCompany’