Q3 FY2026
Filed Nov 13, 2026Enveric reports Q3 2026 net loss of $2.5 million and cash-on-hand of $5.6 million while advancing EB-003 toward its planned IND
The release reports a smaller net loss than the prior-year quarter and a series of preclinical and regulatory milestones for EB-003. It reports no revenue, no operating expense lines, no guidance, and cash-on-hand of $5.6 million, with the filing's forward-looking statements listing the ability to obtain sufficient future funding and to continue as a going concern.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Net loss attributable to stockholders, Q3 2026other | $2.5M | – | – |
| Net non-cash expense included in net loss, Q3 2026other | $200K | – | – |
| Basic and diluted loss per share, Q3 2026other | $0.57 | – | – |
| Cash-on-hand as of September 30, 2026other | $5.6M | – | – |
What drove it
- The prior-year quarter (Q3 2025) included a $1.5 million deemed dividend on the inducement of warrants, which the release states did not recur in Q3 2026.
- Development activity in the quarter: a preclinical qEEG study reporting CNS penetration and a brain activity profile distinct from DMT, completed in vitro ADMET studies, GloSensor cAMP assay findings supporting the predicted non-hallucinogenic profile, and a new U.S. patent allowance for mescaline derivatives in the EVM401 Series.
- The release does not state the reason for the change in net loss between the two quarters.
Concerns
- Cash-on-hand is $5.6 million as of September 30, 2026, against a Q3 2026 net loss attributable to stockholders of $2.5 million.
- The forward-looking statements list obtaining sufficient future funding on commercially reasonable terms, or at all, and continuing as a going concern among the risk factors.
- The company reports no revenue, and the release does not print operating expenses, research and development spend, or an operating loss figure for the quarter.
- The IND application and planned Phase 1 trial are described as planned or future events, and the release states the timing is subject to completion of IND-enabling studies.
What to watch
- Submission of the EB-003 IND application and the initiation of the planned first-in-human Phase 1 trial, as described in the release.
- Future financing activity, given the cash-on-hand figure of $5.6 million reported for September 30, 2026.
- Disclosure of operating expense lines and cash flow in the next filing, which this release does not provide.
- Use of qEEG as a pharmacodynamic biomarker in human studies, as proposed in the release.
Balance sheet and cash flow
- Cash-on-hand of $5.6 million as of September 30, 2026. The release does not print the prior-period cash balance or any cash flow figure.
Analysis
Enveric reported a net loss attributable to stockholders of $2.5 million for the quarter ended September 30, 2026, compared with $3.4 million in the same quarter of 2025. Basic and diluted loss per share was $0.57, against $10.81 in the prior-year quarter. The release states that the prior-year figure included a $1.5 million deemed dividend on the inducement of warrants that did not recur in 2026. Net non-cash expense was $0.2 million in the current quarter and $0.1 million in the prior-year quarter. The release does not explain the change in the net loss, and this analysis does not attribute it to any cause.
The filing contains no revenue, cost, operating expense, or operating loss figures, and it provides no guidance. The company's reported results therefore consist of the net loss, per-share loss, non-cash expense, and cash-on-hand. The release does not state whether the loss figures are GAAP or non-GAAP.
The business update focuses on EB-003. The company reports completed in vitro ADMET studies with favorable absorption and metabolic findings, a preclinical qEEG study showing CNS penetration and a brain activity profile distinct from DMT, GloSensor and BRET assay results supporting the predicted non-hallucinogenic profile, and a new U.S. patent allowance for mescaline derivatives in the EVM401 Series. The company states that it is advancing final IND-enabling activities for a planned IND submission and a first-in-human Phase 1 trial. It also says it supported the FDA release of finalized guidance for psychedelic and psychedelic-inspired therapeutics.
The balance sheet figure most relevant to investors is cash-on-hand of $5.6 million as of September 30, 2026. The release does not print the prior-period cash balance, total assets, equity, debt, or cash flow figures, so the balance sheet cannot be compared with prior periods from this filing. The forward-looking statements list the ability to obtain sufficient future funding and to continue as a going concern among the factors that could cause actual results to differ.
The release gives a development update and a smaller reported loss, but the filing does not provide the operating detail, cash flow, or financing information needed to assess the funding position beyond the $5.6 million cash figure.
Management, verbatim
Our focus during the third quarter was advancing final IND-enabling activities for EB-003 as we prepare for the planned IND submission and first-in-human Phase 1 clinical trial of our lead non-hallucinogenic, neuroplastogenic candidate,
Joseph Tucker, Ph.D., Chief Executive Officer
The growing body of preclinical evidence reinforces our confidence in this opportunity as we complete the final IND-enabling activities and prepare to advance EB-003 toward first-in-human clinical development.
Joseph Tucker, Ph.D., Chief Executive Officer
Not in the filing
stated, not guessed- Revenue, if any, for Q3 2026 and Q3 2025
- Research and development expense, general and administrative expense, and total operating expenses
- Operating loss
- Interest and other income or expense, and income tax
- Prior-quarter (Q2 2026) net loss, loss per share, and cash-on-hand
- Prior-period cash-on-hand balance (for example December 31, 2025 or September 30, 2025)
- Operating cash flow, investing cash flow, financing cash flow, and free cash flow
- Total assets, total liabilities, debt, and stockholders' equity
- Share repurchases, dividends, or other capital returns (the release does not mention them)
- Explicit statement of whether the net loss and loss per share are GAAP measures
- Percentage changes versus the prior year or prior quarter
- Financial guidance or outlook for future periods
- Cash runway or funding plan beyond the stated cash-on-hand figure
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure is checked against the filing text, and a metric the filing does not print, or whose value, prior period and change do not add up, is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.