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SOLANA BEACH, Calif. - Artelo Biosciences, Inc. (NASDAQ:ARTL), a clinical-stage pharmaceutical company with a market capitalization of $5.7 million, has received a Notice of Allowance from the European Patent Office for its patent application covering the formulation of ART27.13, the company announced Monday. According to InvestingPro data, the company maintains a strong balance sheet with more cash than debt, positioning it well for continued drug development.
The patent, which extends protection through December 2041, covers compositions of ART27.13 dispersed in polyethylene glycol, including the company’s intended commercial formulation. ART27.13 is currently being evaluated in a Phase 2 clinical trial for the treatment of cancer-related anorexia.
"Securing this Notice of Allowance from the EPO is an important step in protecting the commercial potential of ART27.13," said Gregory D. Gorgas, President and Chief Executive Officer of Artelo Biosciences, according to the press release. The company’s stock has shown significant momentum this year, with a 31% year-to-date return, though InvestingPro analysis indicates the stock is currently trading above its Fair Value.
The drug candidate is a peripherally selective cannabinoid agonist that targets CB1 and CB2 receptors. It has been studied in six clinical trials involving over 250 participants. In the Phase 1 portion of the current CAReS trial, ART27.13 was well tolerated and showed early signs of stabilizing or reversing weight loss in more than 60% of participants.
Cancer-related anorexia affects over 60% of people with advanced stage cancer, with no approved therapies currently available in the US, UK, or EU. Initial results from the Phase 2 portion of the study are expected during the current third quarter of 2025.
The company is developing ART27.13 as a once-daily, orally administered treatment that could potentially improve body weight, appetite, muscle degeneration, and quality of life in cancer patients.
Artelo Biosciences is a clinical-stage pharmaceutical company focused on developing treatments for conditions including cancer, pain, and neurological disorders by modulating lipid-signaling pathways. While the company’s overall financial health score is classified as weak by InvestingPro, analysts maintain an optimistic outlook with a price target of $18, suggesting significant potential upside. Subscribers to InvestingPro can access 8 additional key insights about Artelo’s financial position and market performance.
In other recent news, Artelo Biosciences has announced a $9.475 million private placement to implement a Solana-based treasury strategy, marking it as the first publicly traded pharmaceutical company to adopt Solana’s cryptocurrency, SOL, as a core reserve asset. The company has entered into a securities purchase agreement at $10.45 per share, including common stock and warrants. Additionally, Artelo Biosciences received favorable guidance from the UK’s Medicines and Healthcare products Regulatory Agency for a Phase 1 trial of its CBD:TMP cocrystal, aimed at treating anxiety and depression. The regulatory body approved a streamlined clinical trial application process for ART12.11, confirming the study design as methodologically sound for evaluating the drug’s pharmacokinetic profile.
D. Boral Capital has reaffirmed its Buy rating on Artelo Biosciences, setting a price target of $20.00 and highlighting upcoming catalysts, including a Phase 1 clinical trial for ART12.11 in early 2026. Furthermore, Artelo has completed a one-for-six reverse stock split, reducing its outstanding common shares from approximately 3,280,000 to about 546,667. The company also reported preliminary unaudited financial estimates for Q2 2025, with cash, cash equivalents, and short-term investments expected to be $2.1 million. Working capital is estimated to range between negative $1.2 million and negative $1.5 million.
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