As of the last check on Thursday, the stock of Artelo Biosciences Inc. (ARTL) was up by 1.92% at $1.06 in the premarket session. Artelo shares dropped -2.80% to $1.04 at the close of the last session. Shares of ARTL ranged in price from $0.03 to $1.11. A total of 0.36 million shares of ARTL stock were traded, which was below the daily average of 1.18 million shares over the last 100 days.
Within the last five days, ARTL shares have lost -2.80%, while they fell -14.05% during the past month. In the wake of its participation in an international health conference, ARTL stock rose.
What conference was ARTL a part of?
As a biopharmaceutical company dedicated to developing and commercializing therapies targeting the endocannabinoid system, Artelo focuses on this area of research and development. ARTL is actively developing a portfolio of well-defined product candidates designed to address significant unmet needs in numerous diseases and conditions, including anorexia, cancer, PTSD, pain, and inflammation.
The San Diego-based ARTL team is led by proven biopharmaceutical executives collaborating with highly respected researchers and technology specialists to develop high-impact therapies on the cutting-edge of scientific, regulatory, and commercial disciplines.
Artelo presented at Ladenburg Thalmann Healthcare Conference yesterday. The management of ARTL presented and conducted 1×1 meetings during the virtual conference held July 13-14.
At 3:00 p.m. Eastern Standard Time on Wednesday, July 14, 2021, ARTL President and CEO Gregory D. Gorgas gave a virtual presentation.
On Monday, Artelo reported its third-quarter financial and operating results and provided an update on the business.
Highlights of financial results:
- For the three months ended May 31, 2021, operating expenses amounted to $2,251,412 as opposed to $951,395 over the same period in 2020.
- ARTL’s operating expenses were largely attributed to growth in research and development, professional services fees for ongoing regulatory compliance, and general and administrative expenses, including $618,358 in non-cash stock-based compensation expense.
- As of May 31, 2021, ARTL had a net loss of approximately $2,249,792, or $0.10 per basic and diluted share versus a net loss of $951,191, or $0.27 per share, for the quarter ended May 31, 2020.
- Cash and cash equivalents comprised approximately $10,052,288 of ARTL’s assets as of May 31, 2021.
An ARTL poster presented at the 31st Annual International Cannabinoid Research Society (ICRS) Symposium focused on the mechanism-based properties of ART27.13 which would significantly benefit patients with cancer anorexia. Artelo (ARTL) presented a poster at ICRS that discussed ART12.11 CBD Cocrystal, as well as the ability of co-administration of CBD and TMP to prevent cancer cell growth. The first patient dosed with Artelo’s ART27.13 with regards to cancer-related anorexia and weight loss was completed in the reported quarter.