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Artelo Biosciences Inc. (NASDAQ:ARTL) stock has reached a new 52-week low, touching down at $0.91. According to InvestingPro analysis, the stock’s RSI indicates oversold conditions, while the company maintains a healthy current ratio of 1.44 and holds more cash than debt on its balance sheet. This latest price level reflects a significant downturn for the biopharmaceutical company, which specializes in the development of therapeutics that modulate the endocannabinoid system. Over the past year, Artelo Biosciences has seen its stock price erode by 41.61%, with the micro-cap company now valued at just $2.92 million. Despite showing a beta of 1.06, indicating moderate market correlation, the stock has underperformed broader indices. Investors are closely monitoring the company’s progress and future announcements, which may provide insights into potential recovery or further decline. Get deeper insights and access to 6 additional exclusive ProTips with InvestingPro.
In other recent news, Artelo Biosciences announced nonclinical results for its proprietary cocrystal composition of cannabidiol (CBD) and tetramethylpyrazine (TMP), known as ART12.11. The findings, presented at the International Medical (TASE:BLWV) Cannabis Conference in Bern, Switzerland, indicated that ART12.11 could serve as a viable alternative to the FDA-approved CBD therapy, Epidiolex. The studies showed that ART12.11 exhibited comparable or greater levels of CBD and metabolite exposure in canine studies compared to Epidiolex. This suggests potential advantages in stability, dosing, and cost for ART12.11. Artelo is currently evaluating multiple tablet prototypes of ART12.11, each containing 100mg of CBD. The company is preparing to advance into human studies to further explore the benefits of ART12.11. A U.S. issued composition of matter patent for ART12.11 is enforceable until December 10, 2038, indicating a strong intellectual property position. Artelo Biosciences is optimistic about ART12.11’s potential as a commercially viable advancement over existing CBD formulations.
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