Artelo’s ART27.13 shows weight gain benefits in cancer patients

SOLANA BEACH, Calif. - Artelo Biosciences, Inc. (NASDAQ:ARTL), a micro-cap biotech company with a market capitalization of $11.13 million, announced Monday that interim data from its Phase 2 Cancer Appetite Recovery Study (CAReS) showed patients treated with ART27.13 experienced improvements in weight, lean body mass, and physical activity. According to InvestingPro data, the company maintains a strong balance sheet with more cash than debt, positioning it well for continued clinical development.

According to the interim results presented at the 8th Cancer Cachexia Society Conference in Turin, Italy, patients who received the highest dose (1300 µg) of ART27.13 achieved an average 6% weight gain over 12 weeks, while placebo patients lost approximately 5% of body weight.

The study evaluates ART27.13 as a potential treatment for cancer anorexia-cachexia syndrome (CACS), a condition characterized by appetite loss and weight reduction that affects up to 80% of patients with advanced cancer.

Digital wearable data demonstrated that patients receiving the treatment exhibited greater frequency and intensity in daily activity compared to those on placebo. The company also reported that improvements in lean body mass aligned with total weight gains, suggesting preservation or potential increase of muscle mass.

"These interim findings provide strong evidence that ART27.13 can help address the profound weight and activity loss experienced by patients with cancer anorexia-cachexia syndrome," said Steven D. Reich, Chief Medical Officer at Artelo, in the press release.

The drug, originally developed by AstraZeneca, has been studied in seven clinical trials with over 280 participants. It selectively targets peripheral CB1 and CB2 receptors and has demonstrated a favorable safety profile in the Phase 1 portion of the CAReS study. The stock has shown significant volatility, trading between $4.20 and $28.60 over the past 52 weeks, with analysts setting an ambitious target of $18 per share. InvestingPro subscribers can access 5 additional key insights about Artelo’s financial health and market performance.

Currently, there is no FDA-approved treatment for cancer anorexia cachexia syndrome in the United States, United Kingdom, or European Union.

The information in this article is based on a press release statement from Artelo Biosciences.

In other recent news, Artelo Biosciences has reported interim results from its Phase 2 Cancer Appetite Recovery Study (CAReS), which evaluates ART27.13, a cannabinoid receptor agonist for treating cancer anorexia-cachexia syndrome. The study aims to improve weight, appetite, physical activity, and quality of life in cancer patients. Additionally, Artelo Biosciences announced the closing of a $3 million public offering of common stock, selling 640,924 shares at $4.40 per share and pre-funded warrants for up to 40,894 shares. This capital raise has prompted D. Boral Capital to downgrade Artelo Biosciences from a Buy to a Hold rating, citing uncertainty following the company’s recent financial activities. Furthermore, Artelo’s proprietary CBD:tetramethylpyrazine cocrystal, ART12.11, demonstrated improved efficacy in treating stress-induced depression and anxiety compared to CBD alone in a preclinical study. These developments reflect Artelo’s ongoing efforts in advancing its pharmaceutical initiatives and addressing investor concerns.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.