Welcome to our dedicated page for Anebulo Pharmaceuticals news (Ticker: ANEB), a resource for investors and traders seeking the latest updates and insights on Anebulo Pharmaceuticals stock.
Anebulo Pharmaceuticals Inc (ANEB) is a clinical-stage biotechnology company advancing ANEB-001, a novel treatment for acute cannabinoid intoxication. This page provides investors and medical professionals with essential updates on clinical trials, regulatory milestones, and corporate developments.
Key resources include press releases on Phase 2/3 results, partnership announcements with research institutions, and financial disclosures. Our curated news collection helps stakeholders track progress in addressing cannabinoid-related emergencies through targeted therapeutic interventions.
Regular updates cover: FDA communications, peer-reviewed study publications, intellectual property developments, and conference presentations. Bookmark this page to monitor ANEB's pioneering work in reversing cannabis overdose symptoms through rapid-acting pharmacological solutions.
Anebulo Pharmaceuticals (Nasdaq: ANEB) reported financial results for Q4 and FY 2024, ending June 30, 2024. Key highlights include:
1. Awarded first tranche of a $1.9 million grant from NIDA/NIH
2. Prioritizing development of selonabant IV formulation for unintentional cannabis poisoning in children
3. Q4 FY2024 operating expenses: $1.3 million (vs $2.5 million in Q4 FY2023)
4. Q4 FY2024 net loss: $1.3 million or $(0.05) per share
5. FY2024 operating expenses: $8.3 million (vs $11.8 million in FY2023)
6. FY2024 net loss: $8.2 million or $(0.32) per share
7. Cash and cash equivalents: $3.1 million as of June 30, 2024
8. Access to additional $10 million through Loan and Security Agreement
Anebulo Pharmaceuticals (Nasdaq: ANEB) has been awarded a two-year cooperative grant of up to $1.9 million from the National Institute on Drug Abuse (NIDA) to support the development of intravenous selonabant. This potential emergency treatment targets acute cannabis-induced toxicities, particularly cannabis-induced CNS depression in children.
The grant is structured in two tranches: an initial $0.9 million award, followed by approximately $1 million subject to meeting certain milestones. This funding acknowledges the growing unmet medical need for a cannabis antidote, especially for children who are more susceptible to cannabis toxicity due to their underdeveloped endocannabinoid system.
Anebulo's CSO, Ken Cundy, emphasized that this grant provides validation for their work, while CEO Richie Cunningham highlighted how it aligns with their recent decision to prioritize the development of the intravenous formulation of selonabant.
Anebulo Pharmaceuticals (Nasdaq: ANEB) reported financial results for Q3 fiscal year 2024 and provided updates on its development projects.
Key focus is on the IV formulation of selonabant for unintentional cannabis poisoning in children, driven by a growing medical need and upcoming DEA reclassification of marijuana. The company's operating expenses dropped to $1.7 million from $2.9 million year-over-year. Net loss decreased to $1.7 million, or $(0.06) per share, from $2.8 million, or $(0.11) per share. As of March 31, 2024, the company holds $5.1 million in cash and cash equivalents.
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