Anebulo Pharmaceuticals, Inc. has reported a net loss of $8.5 million for the fiscal year ending June 30, 2025, a slight increase from the $8.2 million loss recorded in the previous year. The company has not generated any revenue since its inception and continues to rely on external funding to support its operations. As of June 30, 2025, Anebulo had cash and cash equivalents of approximately $11.6 million, which it expects will be sufficient to fund its operating expenses for at least the next 12 months. The company has incurred significant operating losses, totaling $73.9 million since its inception, and anticipates continued losses as it advances its clinical development programs.
Research and development expenses rose to $4.3 million in 2025, up from $3.5 million in 2024, primarily due to increased activities related to preclinical and clinical studies for its lead product candidate, selonabant. The company is prioritizing the development of an intravenous formulation of selonabant for pediatric patients with cannabis-induced toxicity, which it believes may offer a faster path to regulatory approval compared to the oral formulation intended for adults. Anebulo has completed a Phase 2 proof-of-concept trial in the Netherlands and is preparing for a Phase 1 study of the intravenous formulation.
In terms of operational developments, Anebulo has entered into a Loan and Security Agreement with 22NW and JFL Capital Management, allowing it to borrow up to $3 million to fund future operations. The company also received a grant of approximately $1.9 million from the National Institute on Drug Abuse to support the development of intravenous selonabant. As of June 30, 2025, Anebulo had two full-time employees and one part-time employee, with plans to expand its workforce as it progresses through clinical trials.
Looking ahead, Anebulo is focused on obtaining regulatory approval for selonabant and plans to explore strategic collaborations to commercialize the product if approved. The company is also considering a reverse stock split as part of a proposed plan to go private, which would reduce the number of record holders below 300 to avoid the costs associated with being a public company. Anebulo's management acknowledges the risks associated with its reliance on third-party manufacturers and clinical trial partners, which could impact its ability to bring selonabant to market successfully.
About Anebulo Pharmaceuticals, Inc.
Anebulo Pharmaceuticals, Inc. is a clinical-stage biotechnology company developing selonabant, a cannabinoid receptor type-1 (CB1) antagonist designed to treat cannabis toxicity, including unintentional cannabis poisoning and acute cannabinoid intoxication (ACI). The company’s lead product candidate, available in oral and intravenous formulations, aims to rapidly reverse cannabis-induced symptoms. Anebulo targets emergency departments and vulnerable populations, particularly pediatric patients, addressing a growing unmet medical need in the U.S. cannabis market.
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