“During the second quarter we were pleased to announce the achievement of multiple objectives and present new data,” said
In addition, Artelo presented important preclinical data from multiple animal studies related to ART12.11, a patented cocrystal composition of cannabidiol (CBD), and ART26.12, a novel Fatty Acid Binding Protein 5 inhibitor, at the 33rd International Cannabinoid Research Society Symposium in June. ART12.11 demonstrated improved bioavailability and superior efficacy in animal models of stress-induced anxiety versus CBD. Preclinical research in Chemotherapy-Induced Peripheral Neuropathy (CIPN) showed that ART26.12 is capable of preventing allodynia from both taxane- and platinum-based agents, the two most common causes of CIPN.
ART26.12 continues to deliver strong preclinical animal data supporting its broad potential as an orally administered innovative treatment for painful neuropathies, including reducing mechanical hypersensitivity in painful diabetic neuropathy. As a result of a recent pre-IND meeting with the FDA and ongoing, positive results with ART26.12 in five studies with three causes of neuropathy, Artelo anticipates receiving approval to move ART26.12 into the clinic in the first half of 2024.
“With approximately
Financial Results Ended
Operating expenses for the three months ended
Net loss was approximately
As of
About
About CAReS
The Cancer Appetite Recovery Study (CAReS) is a Phase 1b/2a randomized, placebo-controlled trial of the Company’s lead clinical program, ART27.13, in patients with cancer anorexia and weight loss. Cancer-related anorexia, or the lack or loss of appetite in the person with cancer, may result from the cancer and/or its treatment with radiation or chemotherapy. It is common for people with cancer to lose weight. Anorexia and the resulting weight loss can affect a patient’s health, often weakening their immune system and causing discomfort and dehydration. A weight loss of more than 5% can predict a poor outcome for cancer patients and a lower response to chemotherapy. Now completed, the Phase 1b portion of the CAReS study was designed to determine the most effective and safest dose of ART27.13 for dosing in the Phase 2a stage. Currently enrolling, the Phase 2a portion of the CAReS study is designed to determine estimates of activity of ART27.13 in terms of lean body mass, weight gain, and improvement of anorexia. (ISRCTN registry: https://www.isrctn.com/ISRCTN15607817)
Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating to the Company’s product development, clinical and regulatory timelines, market opportunity, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statement that are predictive in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management’s current beliefs and assumptions. These statements may be identified by the use of forward-looking expressions, including, but not limited to, “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “potential,” “predict,” “project,” “should,” “would” and similar expressions and the negatives of those terms. These statements relate to future events or our financial performance and involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include those set forth in the Company’s filings with the
Investor Relations Contact:
Tel: 212-671-1020
Email: ARTL@crescendo-ir.com
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