Anebulo Pharmaceuticals, Inc. ( (ANEB) ) has released its Q1 earnings. Here is a breakdown of the information Anebulo Pharmaceuticals, Inc. presented to its investors.
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Anebulo Pharmaceuticals, Inc. is a clinical-stage pharmaceutical company focused on developing solutions for acute cannabis-induced toxic effects, particularly through its lead product candidate, selonabant. The company operates within the pharmaceutical industry and aims to address significant unmet medical needs related to cannabis toxicity.
In its first quarter fiscal year 2025 financial report, Anebulo Pharmaceuticals announced receiving a $1.9 million grant from the National Institute on Drug Abuse to support the development of its intravenous formulation of selonabant. This grant aims to advance the drug’s clinical studies, with initial trials expected to begin in the first half of 2025.
The company reported operating expenses of $2.4 million for the quarter, slightly lower than the previous year’s $2.5 million, and a net loss of $2.2 million, improving from a $2.5 million loss in the same period last year. Anebulo’s cash reserves stood at $1.4 million as of September 30, 2024, with access to an additional $10 million through a Loan and Security Agreement.
Looking ahead, Anebulo remains focused on progressing the IV formulation of selonabant for pediatric patients with acute cannabis-induced toxicity, anticipating that this approach will expedite the approval process compared to adult oral formulations. The company is positioned to leverage its recent grant and financial resources to meet critical milestones in the upcoming year.
