Anebulo Pharmaceuticals (ANEB), mcap=$68, price $2.92 vs $3.00

$ANEB pitch:
– Pharma company in phase 2 clinical trials for an innovative cannabis intoxication treatment – no alternatives for it currently and presents a huge market opportunity worth hundreds of millions or even billions.
– ANEB’s drug has already been validated by several studies and excellent Phase II topline results.
– Hopes to file IND with FDA by the year-end.
– Large and growing target market with increasing legalization/consumption of cannabis.
– 90% are owned by insiders.
– The existing cash balance of $16m is likely to prove inadequate to reach FDA approval, i.e. expected dilution.

$ANEB valuation:
– At conservative pricing estimates, cannabis intoxication treatment could be a $390m revenue and $113m EBITDA opportunity.
– This compares to the current market cap of c. $70m.

Exp. gain: Not specified.

Full ANEB write-up (free guest account required):

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