Anebulo Pharmaceuticals ANEB
August 02, 2022 - 1:30pm EST by
2022 2023
Price: 2.97 EPS 0 0
Shares Out. (in M): 23 P/E 0 0
Market Cap (in $M): 69 P/FCF 0 0
Net Debt (in $M): -17 EBIT 0 0
TEV (in $M): 53 TEV/EBIT 0 0

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  • Inept management


Once in my early twenties, I tried a pot brownie at a party. After thirty minutes, I felt nothing, so I had another one. This was a big mistake. As I later discovered the hard way, edibles can take 90 to 120 minutes to kick in. I ended up eating more than I could tolerate. Very soon, I had “trouble” sitting on a couch, and the rest of the party for me was a nightmare.

I am not the only one to have bitten off (or smoked) more than I could chew. It is a horrible experience, with symptoms including uncontrolled anxiety, vomiting, and hallucinations. Some even end up going to the emergency room! 

Indeed, as Cannabis consumption rises, so are the instances of Acute Cannabis Intoxication and emergency room visits. Unfortunately, there is no current way to treat Acute Cannabinoid Intoxication- a huge market opportunity worth hundreds of millions or even billions.

Enter Anebulo Pharmaceuticals, developing what I think of as the Cannabis Epipen.

Rising Cases of Cannabis Intoxication

Driven by legalization, societal acceptance, and an introduction of a large variety of products (like edibles, beverages, etc.), Cannabis consumption is in the midst of a multi-year upward trend that shows no sign of stopping anytime soon.

Source: New Frontier Data

Not only does legalization increase cannabis consumption, but also makes users more comfortable with going to the ER since they can face no legal action or harassment. Further, as edibles rise in popularity they are more likely to induce overconsumption and ACI, given their delayed effect.

Thus, ER visits in which people test positive for Cannabis are rising rapidly. To be clear, these are people who test positive for Cannabis in their bloodstream, not those who came into the ER because they got too high. Nevertheless, the trend is unmistakable.