Artelo Biosciences Experiences First Quarter Fiscal Yr 2021 Economic Success and Supplies …

Acquired Medical Demo Authorization to Begin Cancer Hunger Restoration Period I/II Clinical Study of Artwork27.13 in United kingdom

Awarded Mitacs Speed up Grant

LA JOLLA, Calif., Jan. 14, 2021 (World NEWSWIRE) — Artelo Biosciences, Inc.  (NASDAQ: ARTL), a medical stage biopharmaceutical corporation focused on the improvement of therapeutics that modulate endogenous signaling pathways, which includes the endocannabinoid process, today documented money and functioning success for the to start with quarter of its fiscal year finished November 30, 2020 and furnished a company update.

“During the to start with quarter of fiscal 2021 we acquired both equally the Ethics approval and the Scientific Trials Authorization (CTA) in the United Kingdom for the Most cancers Hunger Recovery Examine (CAReS) for our lead drug applicant, Artwork27.13, a higher-potency GPCR agonist,” said Gregory Gorgas, Chief Executive Officer of Artelo Biosciences. “The CTA was the ultimate regulatory acceptance necessary for the initiation of our Section 1/2 trial in most cancers individuals with anorexia which is a substantial unmet have to have that has no advisable standard of care in accordance to the 2020 Tips from the American Culture of Medical Oncology. We assume to announce enrollment in just the coming months and to report first safety and efficacy details within just six months of study initiation and completion of the comprehensive research enrollment inside 12 months.”

“We are also pleased to have been awarded, together with the University of Western Ontario, a Mitacs Speed up grant for our Fatty Acid Binding Protein 5 (FABP5) inhibitor method, recognised as Art26.12,” ongoing Mr. Gorgas. “This grant offers funding to expand our emphasis with Art26.12 outside of our recent plan in most cancers into central nervous procedure conditions this kind of as panic and even further demonstrates the likely broad applicability of targeting FABP5. The Accelerate grant is anticipated to fund 50% of expenses similar to preclinical research investigating Art26.12 as a prospective remedy for anxiety issues, such as the opportunity of improved efficacy and diminished cognitive effects as opposed to recent anxiolytics.”

Additional 1st Quarter Fiscal 2021 Highlights:

• Shut $7.6 million underwritten public giving with full exercising of underwriter’s alternative.
• Filed a technique of use patent with the U.S. Patent and Trademark Officer covering the use of our Art26.12 for the remedy of psychological problems.
• Presented in two keynote panels at the 3rd Yearly Worldwide Cannabinoid Derived Pharmaceutical Summit.

Very first Quarter Fiscal 2021 Money Success:

• Functioning fees for the 3 months ended November 30, 2020 had been $1,435,212 compared to $1,336,448 for the very same period of time in 2019. The boost in working expenditures was principally because of to an enhance in professional fees relevant to funding linked SEC filings.
• Web decline was close to $1,434,645, or $.14 for each basic and diluted share for the three months finished November 30, 2020 compared to a net loss of $1,306,361, or $.39 for every standard and diluted share for the three months ended November 30, 2019.
• As of November 30, 2020, the Enterprise experienced roughly $7,388,686 in hard cash and dollars equivalents.

About Artelo Biosciences
Artelo Biosciences, Inc. is a San Diego-based biopharmaceutical firm dedicated to the progress and commercialization of proprietary therapeutics focusing on endogenous signaling pathways, like the endocannabinoid procedure. Artelo is fast advancing a portfolio of broadly relevant product candidates designed to address important unmet requires in many illnesses and circumstances, including anorexia, cancer, PTSD, discomfort, and irritation. Led by established biopharmaceutical executives collaborating with remarkably highly regarded researchers and technology industry experts, the firm applies foremost edge scientific, regulatory, and industrial discipline to develop substantial-affect therapies. Much more information is offered at  www.artelobio.com  and Twitter:  @ArteloBio.

Forward Hunting Statements
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