Anebulo Pharmaceuticals Reports Second Quarter Fiscal Year 2025 Financial Results and Recent Updates AUSTIN, Texas (

Pharmaceuticals Reports Second Quarter Fiscal Year 2025

Results and Recent Updates

Texas (February 14, 2025) - Anebulo Pharmaceuticals, Inc. (Nasdaq: ANEB), a clinical-stage pharmaceutical company developing

novel solutions for people suffering from acute cannabis-induced toxic effects (the "Company" or "Anebulo"),

today announced financial results for the three months ended

December 31, 2024, and recent updates.

Quarter Fiscal Year 2025 and Subsequent Highlights:

are grateful to have the continued support from current investors. Having secured such meaningful financing is indicative of the confidence

these highly respected institutional investors have in the Company's future," commented Richie Cunningham, Chief Executive

continued, "There is a significant and growing unmet medical need for an emergency antidote to acute cannabis-induced toxicity.

In particular, acute cannabis exposure in children can result in serious and potentially life-threatening consequences, including Central Nervous System ("CNS")

depression, respiratory depression, coma, and in rare cases death. Research has shown that children are much more sensitive to the

toxic effects of cannabis, due in part to age-related differences in the abundance of cannabis receptors in their brains. As a consequence,

cannabis ingestion in children can result in much more serious outcomes than in adults, and a much greater risk of hospitalization and

admission to intensive care.

recent interactions, FDA confirmed our belief that there is an unmet need for a treatment for children exposed to cannabis toxicity and

suggested a close collaboration with Anebulo to facilitate an efficient development plan for this important pediatric condition. If approved,

we believe selonabant has the potential to offer a much-needed targeted therapy for rapidly reversing the serious and life-threatening

consequences of acute cannabis-induced toxicity in children."

Results for the three months ended December 31, 2024

Selonabant (ANEB-001)

Company's lead product candidate is selonabant (ANEB-001), a potent, small molecule antagonist of the cannabinoid receptor type-1

("CB1"), under development to address the unmet medical need for a specific antidote for acute cannabis-induced toxicity,

including acute cannabinoid intoxication ("ACI") in adults and unintentional cannabis poisoning in pediatric subjects. The

Company anticipates that selonabant will rapidly reverse key symptoms of cannabis toxicity. Selonabant has been successfully formulated

for oral administration in clinical studies and as a potential intravenous treatment for clinical testing. In a Phase 2 proof-of-concept

study in adult subjects challenged with oral delta-9-tetrahydrocannabinol ("THC") (www.clinicaltrials.gov/ct2/show/NCT05282797),

oral selonabant blocked or reversed key CNS effects of THC. Selonabant was well tolerated in this study and there were no serious adverse

events. In the open-label extension of the study, THC challenge doses of 40 mg and 60 mg were well-tolerated when dosed in combination

with oral selonabant, and all treatment-related adverse events were mild and transient. The prior Phase 1 and Phase 2 studies of oral

selonabant have together enrolled a total of 250 subjects, of which 189 received selonabant. Selonabant is protected by two issued patents

covering various methods of use of the compound and composition of matter of the crystalline form of selonabant. Anebulo also has multiple

pending applications covering various methods of use of the compound and delivery systems. An observational study in patients presenting

to Emergency Departments with cannabis toxicity is currently ongoing. The study is intended to determine concentrations of cannabinoids

and metabolites in plasma and gather information on signs and symptoms, patients' disposition and selected subjective assessments.

Anebulo Pharmaceuticals, Inc.

Pharmaceuticals, Inc. is a clinical-stage pharmaceutical company developing novel solutions for people suffering from cannabis-induced

toxicity. Its lead product candidate, selonabant, has completed a Phase 2 clinical trial evaluating its utility in blocking and reversing

the negative effects of acute cannabinoid intoxication in healthy adults challenged with oral THC. Rather than proceeding directly with

Phase 3 studies of oral selonabant in adults with ACI, the Company is prioritizing the advancement of a selonabant IV formulation as

a potential treatment for pediatric patients with acute cannabis-induced toxicity, which it believes offers the potential for a faster

timeline to approval relative to the adult oral product. Anebulo is currently scaling up the intravenous formulation for initial clinical

safety studies. Selonabant is a competitive antagonist at the human CB1 receptor. For further information about Anebulo, please visit

contained in this press release that are not statements of historical fact are forward-looking statements as defined in Section 27A of

the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, these forward-looking

statements can be identified by words such as "anticipate," "designed," "expect," "may,"

"will," "should" and other comparable terms. Forward-looking statements include statements regarding Anebulo's

intentions, beliefs, projections, outlook, analyses or current expectations regarding: plans to begin its Phase 1 single ascending dose

("SAD") study of intravenous selonabant in healthy adults in 1H25; securing such meaningful financing being indicative of

the confidence these highly respected institutional investors have in the company's future; the belief that there is an unmet need

for a treatment for children exposed to cannabis toxicity; selonabant having the potential to offer a much-needed targeted therapy for

rapidly reversing the serious and life-threatening consequences of acute cannabis-induced toxicity in children; selonabant rapidly reversing

key symptoms of cannabis toxicity; the observational study determining concentrations of cannabinoids and metabolites in plasma and gathering

information on signs and symptoms, patients' disposition and selected subjective assessments; and a selonabant IV formulation as

a potential treatment for pediatric patients with acute cannabis-induced toxicity, offering the potential for a faster timeline to approval

relative to the adult oral product. You are cautioned that any such forward-looking statements are not guarantees of future performance

and are subject to a number of risks, uncertainties and assumptions, including, but not limited to: Anebulo's ability to pursue

its regulatory strategy including the ability to begin the Phase 1 single ascending dose ("SAD") study of intravenous selonabant

in healthy adults in 1H25; , the ability of selonabant to rapidly reverse key symptoms of cannabis toxicity; the ability of a selonabant

IV formulation as a potential treatment for pediatric patients with acute cannabis-induced toxicity, offering the potential for a faster

timeline to approval relative to the adult oral product; Anebulo's ability to obtain regulatory approvals for commercialization

of product candidates or to comply with ongoing regulatory requirements, Anebulo's ability to obtain or maintain the capital or

grants necessary to fund its research and development activities, its ability to complete clinical trials on time and achieve desired

results and benefits as expected, regulatory limitations relating to the ability to promote or commercialize product candidates for specific

indications, acceptance of product candidates in the marketplace and the successful development, marketing or sale of Anebulo's

products, Anebulo's ability to maintain its license agreements, the continued maintenance and growth of its patent estate and Anebulo's

ability to retain its key employees or maintain its Nasdaq listing. These risks should not be construed as exhaustive and should be read

together with the other cautionary statements included in Anebulo's Annual Report on Form 10-K for the year ended June 30, 2024,

and its subsequent filings with the Securities and Exchange Commission, including subsequent periodic reports on Quarterly Reports on

Form 10-Q and Current Reports on Form 8-K. All forward-looking statements made in this press release speak only as of the date of this

press release and are based on management's assumptions and estimates as of such date. Except as required by law, Anebulo undertakes

no obligation to update or revise forward-looking statements to reflect new information, future events, changed conditions or otherwise

after the date of this press release.

Pharmaceuticals, Inc.

Statements of Operations