- Additional operational efficiencies and opportunities expected
with the engagement of Potrero Hill Advisors
- Sandra Gardiner succeeds
Rex Merchant as acting chief
financial officer
AUSTIN,
Texas, March 8, 2023 /PRNewswire/ -- Anebulo
Pharmaceuticals, Inc. (Nasdaq: ANEB) (the "Company" or
"Anebulo"), a clinical-stage biopharmaceutical company developing
novel solutions for people suffering from acute cannabinoid
intoxication ("ACI") and substance addiction, today announced the
appointment of Sandra Gardiner as
the Company's acting chief financial officer.
Ms. Gardiner joins Anebulo from Pulse Biosciences, Inc., where
she served as chief financial officer until December 2022.
She brings over 30 years of financial, operational and management
experience, with demonstrated leadership and a strong network
within the investor and financial analyst community. Ms.
Gardiner succeeds Rex Merchant, who
served as the Company's chief financial officer since its inception
and helped guide Anebulo through a successful IPO in May 2021.
"We are delighted to welcome Sandra to the Anebulo team given
her strong financial experience and expertise within the biotech
sector," said Simon Allen, chief
executive officer of Anebulo. "Further, we have the opportunity to
work with additional experts within Potrero Hill Advisors as needs
arise, providing Anebulo with a flexible and fully integrated
outsourced solution for our finance and accounting needs. We are
especially grateful for the valuable contributions Rex made at
Anebulo by helping transform the Company into a
publically traded clinical-stage biotech, and wish Rex every
success in his future endeavors. I look forward to working with
Sandra as we anticipate the release of our final Phase 2 study data
before the end of this calendar quarter and prepare for an end of
Phase 2A meeting with the FDA expected by the end of the second
calendar quarter of 2023."
About Anebulo Pharmaceuticals, Inc.
Anebulo Pharmaceuticals, Inc. is a clinical-stage
biopharmaceutical company developing novel solutions for people
suffering from acute cannabinoid intoxication and substance abuse
disorder. Its lead product candidate, ANEB-001, has completed a
Phase 2 clinical trial (NCT05282797) evaluating its utility in
reversing the negative effects of acute cannabinoid intoxication.
ANEB-001 is a competitive antagonist at the human cannabinoid
receptor type 1 (CB1). For further information about Anebulo,
please visit www.anebulo.com and follow us on LinkedIn.
About ANEB-001
Our lead product candidate is ANEB-001, a potent, small molecule
cannabinoid receptor antagonist, to address the unmet medical need
for a specific antidote for ACI. ANEB-001 is an orally
bioavailable, readily absorbed treatment candidate that we
anticipate will rapidly reverse key symptoms of ACI. ANEB-001 is
protected by one issued patent and rights to one patent application
covering various methods of use of the compound and delivery
systems. We began a Phase 2 proof-of-concept trial for ANEB-001 in
December 2021 in the Netherlands and announced positive Phase 2
Part A proof-of-concept topline data on July
5, 2022, positive Part B data on September 26, 2022, completed dosing of all
subjects in mid-December 2022 and
announced preliminary Phase 2 Part B data on January 09, 2023.
About Acute Cannabinoid Intoxication
Symptoms of ACI can include increased somnolence, impaired
cognition and perception, disorientation, anxiety, and acute
psychosis. According to DSM-5, a diagnosis of cannabinoid
intoxication should include recent history of cannabinoid use, and
clinically considerable behavioral or psychological changes, such
as euphoria, impaired judgment and motor skills, which have taken
place since cannabinoid exposure.
Forward-Looking Statements
Statements contained in this press release that are not
statements of historical fact are forward-looking statements as
defined in Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
In some cases, these forward-looking statements can be identified
by words such as "anticipate," "believe," "designed," "expect,"
"intend," "may," "will," "should" and other comparable terms.
Forward-looking statements include statements regarding Anebulo's
intentions, beliefs, projections, outlook, analyses or current
expectations regarding: the expected operational efficiencies and
opportunities of Anebulo's engagement with Potrero Hill Advisors;
the expected timing for full data from Anebulo's Phase 2 Study of
ANEB-001 before the end of the first calendar quarter of 2023; the
targeted timing for an End of Phase 2A meeting with the FDA by the
end of the second calendar quarter of 2023; the potential for
ANEB-0001 to address an unmet medical need for a specific antidote
for ACI; and Anebulo's expectation that ANEB-001 will rapidly
reverse key symptoms of ACI. You are cautioned that any such
forward-looking statements are not guarantees of future performance
and are subject to a number of risks, uncertainties and
assumptions, including, but not limited to: initial and interim
results from clinical studies are not necessarily indicative of
results that may be observed in the future; clinical trial site
challenges that may impact the expected timing of the Company's
ongoing clinical trials; the timing and success of clinical trials
and potential safety and other complications thereof; and Anebulo's
need for additional capital. These and other risks are described
under the "Risk Factors" heading of Anebulo's Quarterly Report on
Form 10-Q for the quarter ended December 31,
2022, as filed with the SEC on February 10, 2023, and other filings Anebulo
makes with the Securities and Exchange Commission from time to time
(which are available at http://www.sec.gov). All
forward-looking statements made in this press release speak only as
of the date of this press release and are based on management's
assumptions and estimates as of such date. Except as required by
law, Anebulo undertakes no obligation to update or revise
forward-looking statements to reflect new information, future
events, changed conditions or otherwise after the date of this
press release.
Investor Relations and Media Contacts:
Ignacio Guerrero-Ros, Ph.D., or
Adanna Alexander, Ph.D.
Russo Partners
646-942-5604
646-942-5603
ignacio.guerrero-ros@russopartnersllc.com
adanna.alexander@russopartnersllc.com
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SOURCE Anebulo Pharmaceuticals, Inc.