H.C. Wainwright has started covering Anebulo Pharmaceuticals Inc ANEB with a Buy rating and a price target of $6.
Anebulo Pharmaceuticals is a growing specialty biopharmaceutical company that focuses on developing therapy for acute cannabinoid intoxication (ACI). This presents a unique opportunity as there are approximately 2.1 million ACI cases reported in U.S. emergency departments each year.
The company has produced impressive clinical proof-of-concept data using a visual analog scale (VAS) methodology to measure the significant reduction in ACI symptoms, particularly the alteration in the sensation of being “high.” This data reduces the risk for the upcoming clinical development of ANEB-001.
The analysts Boobalan Pachaiyappan and Raghuram Selvaraju observe that the ACI indication shares similarities with the opioid overdose crisis, which resulted in numerous non-fatal overdoses each year and caused nearly 110K deaths in the U.S. alone in 2022.
The analysts note that Anebulo’s strategy revolves around using ANEB-001, a small molecule antagonist that targets the CB1 cannabinoid receptor.
H.C. Wainwright suggests that positive pivotal data for ANEB-001 could make Anebulo an attractive acquisition target.
The analyst states that ANEB-001 could be priced at $2.5K per administration and could achieve total sales approaching $500 million in the U.S. alone. If launched conservatively in 2028, ANEB-001 could enter the U.S. market in 2027, depending on the speed of clinical development. Peak sales could be achieved in the late 2030s.
Price Action: ANEB shares are up 3.91% at $3.33 on the last check Monday.