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SOLANA BEACH, Calif. - Artelo Biosciences, Inc. (NASDAQ:ARTL), a micro-cap pharmaceutical company with a market capitalization of $6.87 million, presented new preclinical data on its CBD and tetramethylpyrazine cocrystal drug candidate, ART12.11, at the 35th Annual International Cannabinoid Research Society Symposium in Bloomington, Indiana. The company’s stock has shown significant volatility, gaining over 45% in the past six months despite a recent 24% weekly decline, according to InvestingPro data.
The data, presented Monday by researchers from the University of Western Ontario, showed that ART12.11 demonstrated antidepressant-like effects comparable to sertraline (Zoloft) in stressed animal models during a 28-day treatment regimen. While the company maintains a strong cash position with more debt than cash on its balance sheet, InvestingPro analysis indicates current short-term obligations exceed liquid assets, highlighting the importance of successful drug development for the company’s future.
According to the presentation, ART12.11 improved sucrose preference and social motivation, which are behavioral markers of depressive-like states, to near-baseline levels. The compound also reversed stress-induced deficits in spatial and short-term memory, an area where the researchers noted sertraline was less effective.
"Our latest behavioral studies suggest that the cocrystal holds strong potential as a novel antidepressant," said Matt Jones, the lead researcher from the University of Western Ontario, in the company’s press release.
ART12.11 is Artelo’s proprietary cocrystal composition of cannabidiol (CBD) and tetramethylpyrazine (TMP). The company stated that previous preclinical studies showed the compound demonstrated better pharmacokinetics and improved efficacy compared to other forms of CBD.
The patented composition has patent protection until December 2038 and has been granted or validated in 19 additional countries beyond the United States, according to the company.
Artelo Biosciences is a clinical-stage pharmaceutical company focused on developing treatments that modulate lipid-signaling pathways for various conditions including cancer, pain, and neurological disorders.
This information is based on a press release statement from the company.
In other recent news, Artelo Biosciences announced favorable results from its first-in-human study of ART26.12, a novel inhibitor of Fatty Acid Binding Protein 5 (FABP5). The Phase 1 Single Ascending Dose study, involving 49 subjects, demonstrated a promising safety profile with no drug-related adverse events and predictable pharmacokinetics. The company plans to initiate a Multiple Ascending Dose study later this year to further evaluate ART26.12. Additionally, Artelo Biosciences has raised approximately $1.425 million through a private placement to support the announcement of clinical data from two Phase 1 studies and a Phase 2 study readout from the CAReS trial for ART27.13. The company also announced a 6-for-1 reverse stock split effective June 13, 2025, to meet Nasdaq’s minimum bid price requirement. This corporate action led D. Boral Capital to downgrade Artelo Biosciences from Buy to Hold, citing caution over potential post-split share price pressure. The reverse split will result in approximately 546,667 shares outstanding, with no change in shareholder ownership percentages. Artelo’s efforts align with the FDA’s Overdose Prevention Framework, emphasizing non-opioid analgesics for pain management.
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