Artelo Biosciences Provides Business Update and Reports First Quarter 2025 Financial Results

Core Insights - Artelo Biosciences, Inc. is focused on developing treatments for cancer, pain, dermatologic, and neurological conditions through modulation of lipid-signaling pathways [1][12] - The company anticipates significant milestones for its lead programs within the next 12 months, including results from its Phase 1 safety trial of ART26.12 and initial results from the Phase 2 CAReS study for ART27.13 [3][6] Business Highlights - ART26.12, a lead candidate, is a Fatty Acid Binding Protein 5 (FABP5) inhibitor, cleared by the FDA for a first-in-human study, targeting chemotherapy-induced peripheral neuropathy (CIPN) [5][8] - The Phase 1 safety study for ART26.12 has completed enrollment, with data readout expected in Q2 2025 [6] - ART27.13 is being evaluated in the Phase 2 CAReS study for cancer-related anorexia and cachexia, with initial data expected in Q3 2025 [6][10] Financial Results - For Q1 2025, research and development expenses were $1.4 million, a slight decrease from $1.5 million in Q1 2024 [7] - General and administrative expenses were $1.0 million, down from $1.1 million in the same period last year [7] - The net loss for Q1 2025 was $2.4 million, or $0.72 per share, compared to a net loss of $2.5 million, or $0.78 per share, in Q1 2024 [7] Cash Position - As of March 31, 2025, cash and investments totaled $0.7 million [7] - In early May 2025, the company issued $0.9 million in at-market convertible notes to support operations until further financing is secured [7]