Artelo Biosciences, Inc.

Artelo Biosciences, Inc. (ARTL) is a clinical-stage biopharmaceutical company developing therapeutics targeting lipid-signaling modulation pathways, including the endocannabinoid system, for unmet needs such as cancer-related anorexia, chemotherapy-induced peripheral neuropathy (CIPN), and other conditions. Key pipeline includes ART27.13, a dual CB1/CB2 agonist in Phase 1b/2a CAReS trial showing interim mean weight gain of 6.38% vs. placebo loss of 5.42%; ART26.12, FABP5 inhibitor with Phase 1 SAD completed in healthy volunteers, no drug-related AEs; and ART12.11, CBD cocrystal with improved pharmacokinetics. Incorporated in Nevada in 2011, headquartered in Solana Beach, CA, the company is a smaller reporting company with audited financials for two years. As of December 31, 2025, cash and equivalents were $600 thousand, total current liabilities $4,044 thousand, and stockholders' deficit $(1,272) thousand; post-offering as adjusted cash rises to $11,500 thousand and equity to $9,630 thousand. The S-1/A registers a best-efforts public offering of 1,641,587 shares of common stock at $7.31 per share (last Nasdaq sale price March 18, 2026) or pre-funded warrants ($7.309 per warrant), potentially yielding $10.9 million net proceeds after 7% placement agent fees and expenses, for working capital and general corporate purposes. Placement agent Craft Capital Management LLC receives warrants for 65,664 shares at $9.50 exercise price. Shares outstanding post-offering: 2,377,714 (assuming full share sale, no exercises). Investment thesis centers on advancing clinical programs amid Nasdaq compliance extension to March 30, 2026, for $2.5M equity minimum, following 1-for-3 reverse split effective March 10, 2026.

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