Adaptimmune stock plunges after announcing Nasdaq delisting plans
SAN DIEGO - Artelo Biosciences, Inc. (NASDAQ:ARTL), currently valued at $9.44 million in market capitalization, has completed its previously announced underwritten public offering, raising approximately $2 million in gross proceeds, the clinical-stage pharmaceutical company announced Wednesday. The announcement comes as the stock has experienced a significant 19.47% decline over the past week, according to InvestingPro data.
The offering consisted of 441,210 shares of common stock priced at $4.40 per share and pre-funded warrants to purchase up to 13,335 shares at $4.399 per warrant. Each pre-funded warrant has an exercise price of $0.001 per share.
R.F. Lafferty & Co., Inc. served as the sole book-running manager and underwriter for the transaction. The underwriters have been granted a 45-day option to purchase up to an additional 68,181 shares at the public offering price, less underwriting discounts.
The securities were offered through a "shelf" registration statement on Form S-3 that was previously filed with the U.S. Securities and Exchange Commission and declared effective on July 14, 2023.
Artelo Biosciences focuses on developing treatments that modulate lipid-signaling pathways for patients with cancer, pain, dermatologic, and neurological conditions. The company did not specify how it plans to use the proceeds from the offering in its press release statement.
The transaction follows standard regulatory procedures with the final prospectus supplement and accompanying base prospectus filed with the SEC on October 1, 2025.
In other recent news, Artelo Biosciences, Inc. announced the pricing of its underwritten public offering, aiming to raise approximately $2 million through the sale of common stock and pre-funded warrants. This offering, managed by R.F. Lafferty & Co., Inc., is subject to market conditions, with no guarantee on its completion timeline or final terms. Additionally, interim results from Artelo’s Phase 2 Cancer Appetite Recovery Study revealed that patients treated with ART27.13 experienced notable weight gains, with those receiving the highest dose achieving an average 6% increase in weight over 12 weeks. In another development, Artelo’s proprietary CBD:tetramethylpyrazine cocrystal, ART12.11, demonstrated improved efficacy in treating stress-induced depression and anxiety compared to CBD alone, according to a study conducted with Western Ontario University researchers. Meanwhile, D. Boral Capital downgraded Artelo Biosciences from Buy to Hold, citing uncertainty following a recent $3 million capital raise and concerns over a "confusing crypto-related initiative." These recent developments provide a multifaceted view of Artelo Biosciences’ current activities and strategic directions.
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