Anebulo Pharmaceuticals reported a cash-burn dominated QQ3 2024 quarter with no revenue and a continued preclinical/early-clinical focus. The company posted an operating loss of approximately $1.664 million and a net loss of about $1.654 million, with an fully diluted loss per share of $0.0638. R&D expenditure remained modest at $748 thousand while G&A totaled $916 thousand, contributing to an EBITDA of approximately $(1.594) million. Cash burn from operations was $(1.497) million for the period, leaving cash and equivalents of $5.15 million at quarter end. The balance sheet shows no debt, a solid current ratio (5.32x), and total stockholders’ equity of about $4.99 million against retained earnings of roughly $(64.05) million, underscoring a substantial cumulative deficit common to early-stage biotechs.
With no topline revenue and ongoing clinical development, the firm’s near-term liquidity relies on external financing or strategic collaborations to advance ANEB001 and other assets. The company’s quarterly print suggests a burn rate in the $1.5 million range, implying a multi-quarter runway only if additional funding is secured or if operating costs are meaningfully reduced. Absent a financing event or meaningful pipeline milestones, investors should monitor potential fundraising activity, strategic partnerships, and any updates on ANEB001 development milestones as the key catalysts for value realization.