SEATTLE – A recent filing with the Securities and Exchange Commission revealed that Fund 22NW, LP has acquired a significant number of shares in Anebolo Pharmaceuticals, Inc. (NASDAQ:ANEB). The transaction, which occurred on December 23, 2024, included the purchase of 10,101,010 shares of common stock at a price of $0.99 per share, for a total consideration of approximately $9.99 million. The stock, which is currently trading at $1.62, has seen a notable 46% rise in the past week, according to InvestingPro Data.
This acquisition was part of a private placement offering by Anebolo Pharmaceuticals, a pharmaceutical-focused company. The shares are held indirectly by 22NW Fund, LP, with Aaron R. English, a director and 10% owner of Anebulo, potentially having beneficial ownership through his management role in 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 financial stability in the short term.
Following this transaction, 22NW Fund, LP now owns 15,467,300 shares of Anebolo Pharmaceuticals. Additionally, Aron R. English is associated with Pharma Investors, LLC, which directly owns 4,654,528 shares.
The filing highlights strategic moves made by 22NW Fund, LP and its affiliates to increase their stake in Anebolo Pharmaceuticals, reflecting a significant investment in the future of the company.
“In other recent news, Anebolo Pharmaceuticals has closed a $15 million capital raising as it prepares for a Phase 1 study of its lead product, selonabant. The funds were raised through a private placement involving 22NW, Nantahala Capital, and an existing investor. Additionally, The company revised its loan and guarantee agreement, reducing the borrowing limit to approximately US$3 million and Anebolo also received a grant of US$1.9 million From the National Institute on Drug Abuse (NIDA) to support the development of an intravenous formulation of selonabant for the treatment of acute cannabis poisoning.
Benchmark maintained a Speculative Buy rating on Anebulo. Anebolo Pharmaceuticals has also introduced a new stock 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 turnaround from the previous fiscal year's loss of $11.7 million. These are among the latest developments that reflect Anebolo's efforts to advance its medical research and financial performance.
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