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SOLANA BEACH, Calif. - Artelo Biosciences , Inc. (NASDAQ:ARTL), a clinical-stage biopharmaceutical company with a market capitalization of $4.5 million, announced nonclinical results for its proprietary cocrystal composition of cannabidiol (CBD) and tetramethylpyrazine (TMP), known as ART12.11. The company's stock has shown strong momentum, gaining over 31% year-to-date according to InvestingPro data. The studies indicated that ART12.11 could be a viable alternative to the FDA-approved CBD therapy, Epidiolex®, with potential advantages in stability, dosing, and cost. This development comes as Artelo maintains a healthy balance sheet, with InvestingPro data showing the company holds more cash than debt and maintains a strong current ratio of 7.15.
At the International Medical (TASE:PMCN) Cannabis Conference (IMCCB-25) in Bern, Switzerland, on Monday, Professor Saoirse O’Sullivan presented the findings, which revealed that oral solid formulations of ART12.11 in canine studies showed comparable or greater levels of CBD and metabolite exposure than Epidiolex. This suggests that ART12.11 could offer a more stable and easier-to-dose tablet form of CBD.
Cocrystallization has been crucial in ART12.11's formulation, addressing the solubility and bioavailability challenges associated with CBD. Artelo is currently evaluating multiple tablet prototypes of ART12.11, each containing 100mg of CBD, with the possibility of further increasing the drug loading.
Andrew Yates, Senior Vice President and Chief Scientific Officer at Artelo, expressed optimism about the results, stating that they support ART12.11's potential as a commercially viable advancement over existing CBD formulations. The company is preparing to progress into human studies to explore the advantages of ART12.11 further.
ART12.11 is a wholly owned, proprietary cocrystal composition of CBD and TMP by Artelo, which has shown improved pharmacokinetics and efficacy in nonclinical studies. With a U.S. issued composition of matter patent enforceable until December 10, 2038, ART12.11 might offer a preferred CBD pharmaceutical composition due to its consistent and improved bioavailability profile.
Artelo Biosciences is focused on developing therapeutics that modulate lipid-signaling pathways to treat various conditions, including cancer, pain, and inflammation. The company aims to address significant unmet needs in multiple diseases with its product candidates.
This announcement is based on a press release statement from Artelo Biosciences.
In other recent news, Artelo Biosciences has been making significant strides in its operations. The company recently held its Annual Meeting of Stockholders, during which two directors, Steven Kelly and R. Martin Emanuele, Ph.D., were re-elected. Furthermore, Malone Bailey LLP was ratified as the company's independent registered public accounting firm for the upcoming fiscal year. These developments are part of Artelo Biosciences' recent activities that aim to strengthen its corporate governance and financial oversight.
In the realm of pharmaceutical advancements, Artelo Biosciences has reported positive preliminary results from its Cancer Appetite Recovery Study (CAReS) involving ART27.13, a drug being developed for cancer-related anorexia. The drug showed promising results in Phase 1 of the trial, with two-thirds of the participants demonstrating either stabilization or reversal of cancer-associated weight loss. The Phase 2 trial, currently enrolling participants, aims to further explore the drug's impact on lean body mass, weight gain, and quality of life.
These recent developments underscore Artelo Biosciences' commitment to both corporate stewardship and innovative pharmaceutical research. As the company continues its operations, investors can expect further updates on these and other ongoing initiatives.
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