Anebulo Pharmaceuticals Announces Financial Results for Second Quarter Fiscal Year 2025

On February 14, 2025, Anebulo Pharmaceuticals, Inc. (NASDAQ: ANEB), a Delaware corporation, released its financial results for the quarter ended December 31, 2024, and provided a business update. The company detailed operating expenses, net loss, and cash position for the specified period.

Anebulo Pharmaceuticals declared that operating expenses for the second quarter of fiscal 2025 amounted to $2.6 million in contrast to $2.8 million for the same timeframe in fiscal 2024. The net loss in the second quarter of fiscal 2025 was $2.5 million, which translates to $(0.09) per share, compared to a net loss of $2.7 million or $(0.11) per share in the second quarter of fiscal 2024. As of December 31, 2024, the company disclosed cash and cash equivalents of $15.0 million, with an additional $3 million available through a Loan Agreement.

The company’s lead product candidate, Selonabant (ANEB-001), is a small molecule antagonist of the cannabinoid receptor type-1 (CB1), aimed at addressing acute cannabis-induced toxicity. Anebulo Pharmaceuticals shared highlights from the quarter and subsequent updates, including progress made in discussions with the FDA regarding the development of intravenous Selonabant for pediatric use, a definitive stock purchase agreement, and an amendment to the Loan and Security Agreement.

Richie Cunningham, Chief Executive Officer of Anebulo Pharmaceuticals, expressed gratitude for the continued support from current investors and emphasized the urgent need for an antidote to acute cannabis-induced toxicity, particularly in children. The company aims to provide a targeted therapy to swiftly counteract the severe consequences of acute cannabis exposure in young patients.

The disclosure also included forward-looking statements and details about Selonabant’s development for both adult and pediatric indications. Anebulo Pharmaceuticals underlined the importance of its ongoing research to address the prevalent need for effective treatments in cases of cannabis toxicity.

For detailed financial information, balance sheets, statements of operations, and deeper insights into the Company’s financial performance and strategic developments, interested parties are encouraged to review the official Form 8-K filing on the SEC’s website along with the attached Exhibit 99.1.

The company’s continuous dedication to innovating pharmaceutical solutions in the cannabis-induced toxicity space reflects its commitment to providing vital medical advancements to those in need.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Anebulo Pharmaceuticals’s 8K filing here.

Anebulo Pharmaceuticals Company Profile

Anebulo Pharmaceuticals, Inc, a clinical-stage biotechnology company, engages in developing solutions for people suffering from acute cannabinoid intoxication (ACI) and substance addiction. The company's lead product candidate is ANEB-001, a small molecule cannabinoid receptor antagonist, which is in a Phase II clinical trial to address the unmet medical need for a specific antidote for ACI.