Artelo Biosciences, Inc. (ARTL) Stock Plunged 12.20% Today, Here’s Why

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Artelo Biosciences, Inc. (ARTL) stock soared 12.20% in the current-market trading session at the price of $0.40.

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ARTL Published ART27.13 Results

On 13th April 2022, ARTL announced positive pre-clinical results for ART27.13, a G-protein coupled receptor agonist in clinical development to treat cancer-based anorexia. The clinical results reveal a dose-dependent gain in body weight in 50 patients with severe back pain.

ART27.13 is an orally administered, dual GPCR, and highly potent agonist that controls the cannabinoid receptors, which improves hunger, food intake and lessens muscle weakening. Initially invented by AstraZeneca plc, ART27.13 has been investigated in five Phase-I clinical studies with over 200 candidates.

The clinical results show strong protection of muscle cells from cancer-induced Cachexia, a multiorgan muscle syndrome linked with cancer and other severe chronic diseases. The condition is an unmet medical need with no approved therapy. Cachexia impacts the quality of life of up to 80 percent of patients with last-stage cancer and reduces survival chances and tolerance to cancer treatment.

ARTL Market Updates

ARTL focused on developing ART27.13 as an effective care treatment for cancer patients with weight loss and anorexia-related issues. The company expects the annual global market for the therapy of cancer-related anorexia to exceed US$2B. These compelling early results indicate that ART27.13 has the potential to reduce the adverse effects of chemicals produced by cancerous cells on muscle fibers. The company looks forward to comparing these results with the continued CAReS study currently in its final phase.

Conclusion

The stock is advancing its ART26.12 program and ART12.11 towards the next development phase. Artelo’s current cash has expected to fund its operations till 2023. Looking onwards, ARTL expects to reach significant clinical and developmental landmarks as well as the entire data readout of its CAReS study.