Anebulo Pharmaceuticals Reports $2.16 Million Net Loss, Focuses on Selonabant Development

Anebulo Pharmaceuticals, Inc. reported a net loss of $2.16 million for the three months ending September 30, 2025, a slight improvement from a net loss of $2.20 million during the same period in 2024. The company’s total operating expenses decreased to $2.26 million from $2.41 million year-over-year, primarily due to a reduction in research and development costs, which fell to $810,000 from $1.31 million. General and administrative expenses increased to $1.45 million, up from $1.10 million, largely driven by higher professional and consulting fees associated with a potential going-private transaction.

In terms of financial position, Anebulo's total assets decreased to approximately $10.70 million as of September 30, 2025, down from $12.15 million at the end of the previous fiscal year. Cash and cash equivalents also declined to $10.35 million from $11.63 million. The company’s accumulated deficit increased to $76.05 million, reflecting ongoing operational losses since its inception. Current liabilities rose significantly to $963,821 from $487,688, primarily due to increased accounts payable and accrued expenses.

Strategically, Anebulo is focusing on the development of its lead product candidate, selonabant, which is aimed at treating cannabis-induced toxicity. The company has initiated a single ascending dose study of an intravenous formulation of selonabant in healthy adults, which is expected to expedite the approval process for pediatric patients suffering from cannabis toxicity. Anebulo has also received a grant from the National Institute on Drug Abuse (NIDA) to support this development, with a total potential funding of approximately $1.9 million.

Operationally, Anebulo has not yet generated revenue from product sales, as it remains in the clinical development phase. The company anticipates that its cash reserves, along with potential funding from the Loan Agreement, will be sufficient to cover its operating expenses for at least the next 12 months. However, Anebulo acknowledges the need for additional funding to support its ongoing development efforts and has indicated that it may seek further financing through equity or debt offerings.

Looking ahead, Anebulo remains committed to advancing its clinical programs and addressing the unmet medical needs associated with cannabis-induced toxicity. The company is also exploring strategic alternatives, including a potential going-private transaction, which could impact its operational and financial strategies in the near future.