Artelo Biosciences presents positive data for arthritis pain drug

SOLANA BEACH, Calif. - Artelo Biosciences, Inc. (NASDAQ:ARTL), a micro-cap biotech company with a market capitalization of $10.87 million, presented preclinical data for its fatty acid binding protein 5 (FABP5) inhibitor, ART26.12, showing promising results in osteoarthritis pain models at the 35th Annual International Cannabinoid Research Society Symposium. The company’s stock has shown remarkable momentum, delivering a 150% return year-to-date according to InvestingPro data.

The presentation, delivered Monday by Dr. Martin Kaczocha of Stony Brook University, demonstrated that ART26.12 significantly alleviated pain associated with osteoarthritis in preclinical models while affecting plasma levels of relevant endocannabinoids. The positive news comes as InvestingPro analysis shows the company operating with moderate debt levels, though current financial metrics indicate short-term liquidity challenges.

According to the company’s press release, the non-opioid, non-steroidal analgesic drug candidate showed efficacy comparable to naproxen, a commonly prescribed NSAID, while maintaining effectiveness throughout a four-week chronic dosing period without developing tolerance.

Professor Saoirse O’Sullivan, Vice President of Translation Sciences at Artelo, noted that daily treatment with ART26.12 increased plasma levels of the endocannabinoids 2-Arachidonoylglycerol and Oleoylethanolamide, which correlated with improved weight-bearing ability on the affected limb in the test subjects.

The company suggests ART26.12 may offer safety advantages over NSAIDs, which are associated with gastrointestinal side effects in approximately one-third of patients and linked to increased gastric ulcer complications.

Artelo is initially developing ART26.12 for chemotherapy-induced peripheral neuropathy. The drug candidate has been included in the National Institutes of Health’s Helping to End Addiction Long-term Initiative’s Preclinical Screening Platform for Pain program.

Osteoarthritis affects approximately 606.9 million people globally, including over 32 million in the U.S., and is typically treated with NSAIDs, acetaminophen, corticosteroids, duloxetine, or opioids.

The data presented complements recently announced positive human single-dose safety results for ART26.12, according to the company’s statement. While the company’s stock has shown strong momentum with a 126.5% return over the past six months, InvestingPro analysis indicates the stock may be currently overvalued, with 13 additional exclusive ProTips available to subscribers tracking various aspects of the company’s performance and potential.

In other recent news, Artelo Biosciences reported promising developments in its clinical pipeline. The company announced positive results from its first-in-human study of ART26.12, a novel inhibitor of Fatty Acid Binding Protein 5 (FABP5), highlighting its excellent safety profile and predictable pharmacokinetics. The study involved 49 healthy volunteers and showed no drug-related adverse events, paving the way for a Multiple Ascending Dose study planned for later this year. Additionally, Artelo presented encouraging preclinical data for its CBD and TMP cocrystal drug candidate, ART12.11, which demonstrated antidepressant-like effects in animal models comparable to sertraline. The compound showed potential in reversing stress-induced cognitive deficits, positioning it as a possible treatment for depression and anxiety. Furthermore, D. Boral Capital upgraded Artelo’s stock rating from Hold to Buy, citing the company’s pipeline potential and recent reverse stock split. The firm specifically noted the progress of Artelo’s lead program, ART27.13, currently in Phase 2 development for cachexia and chemotherapy-induced peripheral neuropathy. These developments underscore Artelo’s ongoing efforts to advance its therapeutic candidates in the pharmaceutical landscape.

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