Anebulo Pharmaceuticals Reports Decrease in Net Loss and Strategic Shift in Development

Anebulo Pharmaceuticals, Inc. reported a net loss of approximately $1.999 million for the three months ended December 31, 2025, a decrease from a net loss of $2.463 million in the same period of the previous year. For the six months ended December 31, 2025, the company recorded a net loss of $4.158 million, compared to a loss of $4.664 million for the same period in 2024. Total operating expenses for the latest quarter were $2.620 million, slightly higher than the $2.588 million reported in the prior year. The company’s accumulated deficit increased to $78.046 million as of December 31, 2025, up from $73.889 million at the end of the previous fiscal year.

In terms of operational changes, Anebulo's research and development expenses for the three months ended December 31, 2025, were $1.165 million, a slight decrease from $1.221 million in the same quarter of 2024. The company has prioritized the development of its intravenous formulation of selonabant, aimed at treating pediatric patients with cannabis-induced toxicity. This strategic shift follows a meeting with the FDA, which acknowledged the urgent need for such treatments. The company initiated a single ascending dose study of IV selonabant in healthy adults in the third quarter of 2025, marking a significant step in its clinical development program.

Anebulo's financial position showed a decline in cash and cash equivalents, which decreased to $9.042 million as of December 31, 2025, from $11.628 million at the end of June 2025. The company’s total assets also fell to $9.422 million, down from $12.146 million in the previous fiscal period. Current liabilities increased significantly to $1.486 million, compared to $0.488 million at the end of June 2025, primarily due to higher accounts payable and accrued expenses. The company’s employee headcount remained stable, with no significant changes reported.

Looking ahead, Anebulo anticipates that its cash reserves, along with potential funding from its Loan Agreement, will be sufficient to cover operating expenses for at least the next 12 months. However, the company acknowledges the need for additional funding to support its ongoing clinical trials and operational costs. Anebulo has indicated that it may seek further financing through equity or debt offerings, as well as collaboration agreements, to ensure the continuation of its development efforts. The company is also in the process of transitioning to a private entity, which it believes will streamline operations and reduce reporting obligations.