Artelo Biosciences ( (ARTL) ) has released its Q3 earnings. Here is a breakdown of the information Artelo Biosciences presented to its investors.
Artelo Biosciences, Inc. is a clinical-stage biopharmaceutical company focused on the development and commercialization of therapeutics targeting lipid-signaling pathways, particularly the endocannabinoid system, to address unmet medical needs. In their recent earnings report, Artelo Biosciences highlighted a decrease in total operating expenses, with a notable reduction in both general and administrative costs, as well as research and development expenses. Despite these reductions, the company reported a net loss of $6.05 million for the nine months ended September 30, 2024, compared to a loss of $6.22 million in the same period last year. Artelo Biosciences continues to advance its strategic initiatives, including progressing its lead product candidate, ART27.13, through Phase 1b/2a clinical trials for cancer-related anorexia and preparing to initiate Phase 1 trials for ART26.12, aimed at treating chemotherapy-induced peripheral neuropathy. Looking ahead, Artelo Biosciences remains focused on its development pipeline, with management expressing confidence in its financial position, expecting its current cash resources to support operations into the fourth quarter of 2025.
