SEATTLE—A recent filing with the Securities and Exchange Commission reveals that 22NW Fund, LP has acquired a substantial number of shares in Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB). The transaction, which took place on December 23, 2024, involved the purchase of 10,101,010 shares of common stock at a price of $0.99 per share, totaling approximately $9.99 million. The stock, which currently trades at $1.62, has seen a remarkable 46% surge in the past week, according to InvestingPro data.
This acquisition was part of a private placement offering by Anebulo Pharmaceuticals, a company focused on pharmaceutical preparations. The shares are held indirectly by 22NW Fund, LP, with Aron R. English, a director and ten percent owner of Anebulo, potentially having beneficial ownership through his management role at 22NW Fund GP, LLC, the general partner of 22NW Fund, LP. The company, currently valued at $40.72 million, maintains strong liquidity with a current ratio of 3.45, indicating healthy short-term financial stability.
Following this transaction, 22NW Fund, LP now holds 15,467,300 shares of Anebulo Pharmaceuticals. Additionally, Aron R. English is associated with Pharma Investors, LLC, which owns 4,654,528 shares directly.
The filing highlights the strategic moves by 22NW Fund, LP and its affiliates in increasing their stake in Anebulo Pharmaceuticals, reflecting a significant investment in the company’s future.
“In other recent news, Anebulo Pharmaceuticals has successfully closed a $15 million capital raise as it prepares for a Phase I study for its lead product, selonabant. The funds were raised through a private placement involving 22NW, Nantahala Capital, and an existing investor. In addition, the company revised its Loan and Security Agreement, reducing the borrowing limit to approximately $3 million. Anebulo has also received a $1.9 million grant from the National Institute of Drug Abuse (NIDA) to support the development of an intravenous formulation of selonabant for treating acute cannabis poisoning.
Benchmark has maintained its Speculative Buy rating on Anebulo. Anebulo Pharmaceuticals has also introduced a new equity compensation policy for non-employee directors. The company reported an improved net loss of $8.2 million in its fourth-quarter 2024 financial results, a positive shift from the previous fiscal year’s loss of $11.7 million. These are among the recent developments that reflect Anebulo’s efforts to advance its medical research and financial performance.
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