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

Core Insights - Artelo Biosciences, Inc. is advancing its clinical pipeline with multiple announcements of clinical data results anticipated in Q3 2025, focusing on treatments for cancer, pain, and neurological conditions [1] Business Highlights - ART26.12 is progressing towards a multi-dose Phase 1 safety study, with positive safety and pharmacokinetics demonstrated in a completed Phase 1 Single Ascending Dose (SAD) study [2][7] - ART27.13 is on track for a Phase 2 readout in Q3 2025, targeting cancer anorexia-cachexia syndrome, a condition with no FDA-approved therapies [3][11] - ART12.11 is showing promise in treating depression and cognitive decline, with plans to initiate human trials in early 2026 [4][8] Financial Results - For Q2 2025, the company reported a net loss of $3.2 million, or $5.61 per share, compared to a net loss of $2.4 million, or $4.52 per share in Q2 2024 [14] - Research and development expenses were $1.9 million for the quarter, up from $1.7 million in the same period in 2024, while general and administrative expenses increased to $1.3 million from $0.8 million [9] Cash and Investments - As of June 30, 2025, cash and investments totaled $2.1 million, with recent funding activities including $0.9 million in convertible notes and a private placement yielding $1.425 million [14] - Subsequent to June 30, 2025, the company completed a PIPE transaction for gross proceeds of $9.475 million, alongside a strategy to invest in the digital currency Solana [14][15]