Anebulo Pharmaceuticals sets annual meeting for April 4, 2025

Anebulo Pharmaceuticals , Inc. (NASDAQ:ANEB), a Delaware-based pharmaceutical company with a market capitalization of $37.6 million, announced Monday that its Board of Directors has scheduled the company’s annual stockholders meeting for April 4, 2025.

According to InvestingPro analysis, the stock, currently trading at $1.47, shows a tendency to move in the opposite direction of the broader market with a beta of -1.16. The meeting details, including time and location, will be disclosed in the company’s forthcoming proxy materials filed with the Securities and Exchange Commission (SEC).

This year’s annual meeting is slated more than 30 days after the anniversary date of the previous year’s meeting. Consequently, the company has revised the deadlines for stockholder proposals. Stockholders looking to include proposals in the proxy statement under Rule 14a-8 must submit their proposals by February 22, 2025. This deadline ensures the company can incorporate the proposals into its proxy materials in a timely manner.

The company also noted that any stockholder proposals not intended for inclusion in the proxy materials must be delivered by the same date, February 22, 2025, to be considered timely. This complies with the requirement that such notice be given no later than the 10th day following the public announcement of the annual meeting date.

Furthermore, stockholders who wish to solicit proxies in support of director nominees other than the company’s nominees must adhere to the universal proxy rules. They are required to provide notice containing the information mandated by Rule 14a-19 of the Exchange Act by February 22, 2025, which is 10 days subsequent to the filing of this report.

The announcement of the annual meeting date and the associated deadlines is based on a press release statement and reflects the company’s commitment to ensuring stockholders have the opportunity to participate in the governance process.

The company’s Chief Executive Officer, Richard Anthony Cunningham, signed the SEC filing on Wednesday, February 12, 2025, confirming the details of the forthcoming annual meeting and the associated deadlines for stockholder proposals. With the company’s overall financial health rated as ’FAIR’ by InvestingPro, investors can access comprehensive governance metrics and real-time financial analysis to make informed voting decisions.

In other recent news, Anebulo Pharmaceuticals has successfully closed a $15 million capital raise. The funds raised will be utilized as the company prepares to commence a Phase I study for its leading product candidate, selonabant, in the first half of 2025. The private placement involved the sale of 15.2 million shares at $0.99 each, with 22NW, Nantahala Capital, and an existing investor participating. Anebulo also announced revisions to its Loan and Security Agreement, reducing the borrowing limit to approximately $3 million and eliminating any securitization.

The company’s CEO, Richie Cunningham, expressed gratitude for the investors’ support and highlighted the lack of treatments for children suffering from cannabis toxicity.

The company’s product, selonabant, has shown efficacy in reversing the central nervous system effects of THC in adults in a Phase 2 study. Anebulo’s focus is now on the intravenous formulation of selonabant for pediatric patients, which is expected to have a faster path to regulatory approval.

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