Enveric Biosciences (NASDAQ: ENVB), a biopharma company developing novel neuroplastogenic small-molecule therapeutics for the treatment of anxiety, depression and addiction disorders, reported its financials for Q3 2023 ended September 30, 2023, showing:
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Cash and cash equivalents of $4.27 million by Sept. 30, an almost 40% QoQ decrease compared to the $7.08 million on June 30, and an almost 75% fall from the $17.7 million held by Dec. 31, 2022.
See full Q2 results.
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Three and nine-month R&D expenses of $1.4 million and $5.9 million, vs. $2.0 million and $6.1 million in the same comparable periods in 2022.
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Three and nine-month G&A expenses of $2.0 million and $7.9 million, vs. $3.5 million and $8.8 million in the same comparable periods in 2022.
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Three and nine-month net cash used in operations of $2.98 million and $12.3 million.
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Three …