February 6, 2026 — Leads & Copy — Anebulo Pharmaceuticals, Inc. (Nasdaq: ANEB) has announced its board of directors has approved a voluntary delisting of the company’s common stock from The Nasdaq Capital Market (“Nasdaq”). The company also plans a subsequent voluntary deregistration of its common stock with the U.S. Securities and Exchange Commission (“SEC”). These moves will terminate and suspend Anebulo’s reporting obligations under the Securities Exchange Act of 1934.
Anebulo notified Nasdaq of its intention to delist its shares. The company intends to file a Form 25 with the SEC around February 17, 2026. The delisting is expected to be effective on February 27, 2026, 10 days after the Form 25 filing.
Anebulo plans to file a Form 15 with the SEC around February 27, 2026, certifying it has fewer than 300 shareholders of record. Upon this filing, Anebulo’s obligation to file periodic reports with the SEC will be immediately suspended.
The company says it is in compliance with Nasdaq listing requirements, but the board believes the cost of being an SEC reporting company is too high. The board determined that the burdens of operating as a registered public company on Nasdaq outweigh any advantages for the company and its stockholders. This decision followed a review of factors, including the potential to eliminate significant costs of preparing and filing SEC reports and the legal, audit, and other expenses of being a public company on Nasdaq.
The board also considered the substantial costs and demands on management’s time under the Sarbanes-Oxley Act of 2002, SEC rules, and Nasdaq listing standards.
After delisting, any trading in Anebulo’s common stock would occur in privately negotiated sales and potentially on the over-the-counter market.
Anebulo Pharmaceuticals is a clinical-stage pharmaceutical company focused on developing treatments for acute cannabis-induced toxicity. Its lead product candidate, selonabant, completed a Phase 2 clinical trial evaluating its effectiveness in blocking and reversing the negative effects of acute cannabinoid intoxication in healthy adults challenged with oral THC.
Rather than proceeding directly to Phase 3 studies of oral selonabant in adults, the company is prioritizing the advancement of a selonabant IV formulation as a potential treatment for pediatric patients with acute cannabis-induced toxicity. Anebulo believes this offers a faster timeline to approval compared to the adult oral product. The company has scaled up the intravenous formulation for initial clinical safety studies and initiated a Phase 1 SAD study of IV selonabant in September 2025. Selonabant is a competitive antagonist at the human CB1 receptor.
Source: Anebulo Pharmaceuticals, Inc.
