Anebulo Pharmaceuticals Reports Third Quarter Fiscal Year 2022 Financial Results and Recent Updates

Anebulo Pharmaceuticals Reports Third Quarter Fiscal Year 2022 Financial Results and Recent Updates
CANNANNEW REPORT

AUSTIN, Texas–(BUSINESS WIRE)–Anebulo Pharmaceuticals, Inc. (Nasdaq: ANEB), a clinical-stage biopharmaceutical company developing novel solutions for people suffering from acute cannabinoid intoxication and substance abuse (the “Company” or “Anebulo”), today announced financial results for the three months ended March 31, 2022 and recent updates. Third Quarter Fiscal Year 2022 and Subsequent Highlights: Completed enrollment of all 60 subjects in Part A of an ongoing Phase 2 proof-of-concept clinical trial at the Centre for Human Drug Research (CHDR) in the Netherlands. The Company intends to release top line data for Part A by June 30, 2022. Company Executives are scheduled to participate in the following investor conferences: H.C. Wainwright Global Investment Conference, May 23-26, 2022 Benchmark 2022 Healthcare Housecalls 1X1 Institutional Investor Conference on June 2, 2022 LD Micro Invitational XII Conference, June 7-9, 2022 2022 BIO International Convention, June 13-16, 2022 A company-sponsored abstract on the antagonistic effects of ANEB-001 was accepted for a poster presentation at the 32nd Annual International Cannabinoid Research Society Symposium on the Cannabinoids, June 25-30, 2022. Management Commentary “We are pleased to announce that Part A of our ongoing Phase 2 proof-of-concept clinical trial is now fully enrolled, keeping us on-track to release top line data before the end of this current quarter,” stated Simon Allen, Chief Executive Officer of Anebulo. “We look forward to announcing the Part A data and providing further guidance on our path to product approval.” Third Quarter Fiscal 2022 Financial Results Operating expenses in the third quarter of fiscal 2022 were $1.9 million compared with $0.6 million in the same period in fiscal 2021. Net loss in the third quarter of fiscal 2022 was $1.9 million, or $(0.08) per share, compared with a net loss of $0.6 million, or $(0.68) per share, in the third quarter of fiscal 2021. Cash burn…

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