Why Anebulo Pharmaceuticals Shares Are Trading Higher Premarket Today - Anebulo Pharmaceuticals (NASDAQ:ANEB)

Anebulo Pharmaceuticals Inc ANEB has announced topline data from Part A of an ongoing Phase 2 trial of ANEB-001 to treat acute cannabinoid intoxication (ACI).
Part A was a 60-subject trial designed to evaluate the effectiveness of a single dose of ANEB-001 in healthy subjects challenged with delta-9-tetrahydrocannabinol (THC), the primary psychoactive constituent of cannabis.
The data demonstrated a statistically significant reduction in key symptoms of ACI, with only 10% of subjects in the 50 mg ANEB-001 group and 30% in the 100 mg group reporting feeling high compared to 75% of subjects in the placebo group.
ANEB-001 was well tolerated in these healthy volunteers.
Preliminary safety data showed all adverse events were mild and transient, except for one subject in the 50 mg ANEB-001 group who experienced moderate nausea and vomiting.
Subjects challenged with THC and treated with placebo showed substantial CNS effects, including feeling high, decreased alertness, increased body sway, and increased heart rate.
The company plans to initiate Part B of the study by the end of Q3 2022 to evaluate lower doses of ANEB-001.
Preparations are ongoing for an observational study on ACI subjects in the emergency department. Submission of an Investigational New Drug application for ANEB-001 to initiate U.S. trials is anticipated by the end of 2022.
Price Action: ANEB shares are up 17.21% at $6.30 premarket on the last check Tuesday.