Enveric Biosciences Inc. (ENVB) stock prices were up by 5.88% as of the market closing on October 4th, 2021. This brought the price per share up to USD$1.97 at the end of the trading day.
Success of PsyAI
October 5th 2021 saw ENVB stock announce its PsyAI has successfully identified viable psychedelic molecules for additional drug discovery. The patient-centric biotechnology company will have a catalogue with an initial list of 500 psychedelic molecular compounds within its Psybrary. PsyAI is an artificial intelligence tool designed by April19 to provide comprehensive pharmaceutical design, manufacturing, pharmacology predictive and validating methodologies.
Scope of ENVB Stock’s PsyAI
PsyAI has served to facilitate the acceleration of the development of the company’s optimized pharmaceutical candidates. Each candidate is specifically tailored to treat mental health indications that are otherwise difficult to treat. ENVB stock is confident that it is on the track to becoming the first psychedelic drug discovery and development company to employ the machine learning technology. The technology will be employed against the company’s extensive psychedelic molecule library to evaluate higher-likelihood molecules that can be used to treat various conditions. Cancer related distress, PTSD, and other central nervous system (CNS) indication are some of the indications hoped to be addressed by the various molecules.
Mechanics of PsyAI
The company’s adoption of PsyAI technology will utilize a set of machine learning models and other computations techniques. These techniques include 3-D structure generation and docking, with results in predictive outputs on relative drug potential from the company’s Psybrary of known and novel compounds are expected. The company intends to use these results in predicting drug likeness, CNS exposure, oral bioavailability, toxicity, serotonin 5HT-2A receptor affinity and activity. ENVB stock also expects to integrate the predictions into a multi-parameter score to rank the compounds by desirability and patentability on a comparative basis. The molecules will be compared against a dataset of orally available central nervous system drugs that have been approved by the United States Food and Drug Administration.
Future Outlook for ENVB Stock
ENVB stock reported a strong quarter, consolidated by the successful results generated by its PsyAI platform. The company is poised to push for the accelerated development and commercialization of its various treatments. Current and potential investors are hopeful that management will be able to effectively leverage the resources at their disposal. This is hoped to facilitate significant and sustained increases in shareholder value.