Artelo Biosciences Studies Initially Quarter Fiscal Year 2021 Money Results and Provides Business enterprise Update

Acquired Scientific Demo Authorization to Begin Most cancers Urge for food Recovery Phase I/II Scientific Examine of Art27.13 in British isles

Awarded Mitacs Accelerate Grant

LA JOLLA, Calif., Jan. 14, 2021 (Globe NEWSWIRE) — Artelo Biosciences, Inc. (NASDAQ: ARTL), a clinical phase biopharmaceutical firm concentrated on the improvement of therapeutics that modulate endogenous signaling pathways, including the endocannabinoid procedure, these days described money and running effects for the to start with quarter of its fiscal yr ended November 30, 2020 and delivered a business enterprise update.

“During the to start with quarter of fiscal 2021 we received equally the Ethics approval and the Scientific Trials Authorization (CTA) in the United Kingdom for the Cancer Appetite Recovery Review (CAReS) for our lead drug prospect, Artwork27.13, a substantial-potency GPCR agonist,” stated Gregory Gorgas, Main Government Officer of Artelo Biosciences. “The CTA was the closing regulatory approval essential for the initiation of our Section 1/2 trial in cancer people with anorexia which is a substantial unmet want that has no proposed normal of care in accordance to the 2020 Tips from the American Culture of Medical Oncology. We be expecting to announce enrollment inside of the coming weeks and to report initial safety and efficacy knowledge within just six months of research initiation and completion of the complete review enrollment inside of 12 months.”

“We are also happy to have been awarded, alongside the University of Western Ontario, a Mitacs Accelerate grant for our Fatty Acid Binding Protein 5 (FABP5) inhibitor software, known as Art26.12,” ongoing Mr. Gorgas. “This grant offers funding to broaden our concentrate with Artwork26.12 beyond our present method in cancer into central nervous procedure ailments these types of as stress and anxiety and even further demonstrates the potential broad applicability of concentrating on FABP5. The Speed up grant is predicted to fund 50% of costs similar to preclinical analysis investigating Artwork26.12 as a prospective cure for nervousness conditions, including the probable of improved efficacy and diminished cognitive impact in contrast to latest anxiolytics.”

Added Initially Quarter Fiscal 2021 Highlights:

  • Shut $7.6 million underwritten community supplying with full workout of underwriter’s selection.
  • Submitted a strategy of use patent with the U.S. Patent and Trademark Officer covering the use of our Art26.12 for the procedure of psychological diseases.
  • Offered in two keynote panels at the 3rd Once-a-year Worldwide Cannabinoid Derived Pharmaceutical Summit.

1st Quarter Fiscal 2021 Economic Benefits:

  • Functioning costs for the a few months finished November 30, 2020 ended up $1,435,212 in comparison to $1,336,448 for the similar period in 2019. The boost in running expenditures was mostly due to an maximize in qualified fees connected to financing relevant SEC filings.
  • Web loss was somewhere around $1,434,645, or $.14 per simple and diluted share for the three months ended November 30, 2020 in contrast to a internet decline of $1,306,361, or $.39 per simple and diluted share for the a few months finished November 30, 2019.
  • As of November 30, 2020, the Enterprise had around $7,388,686 in money and money equivalents.

About Artelo BiosciencesArtelo Biosciences, Inc. is a San Diego-based biopharmaceutical enterprise committed to the progress and commercialization of proprietary therapeutics targeting endogenous signaling pathways, which include the endocannabinoid system. Artelo is speedily advancing a portfolio of broadly applicable products candidates made to tackle substantial unmet demands in a number of illnesses and situations, like anorexia, cancer, PTSD, agony, and irritation. Led by verified biopharmaceutical executives collaborating with extremely respected scientists and engineering specialists, the corporation applies foremost edge scientific, regulatory, and professional self-control to build superior-influence therapies. More details is offered at and Twitter: @ArteloBio.

Ahead Looking StatementsThis push launch incorporates specified forward-looking statements within just the indicating of Area 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, which include people relating to the Company’s item improvement, clinical and regulatory timelines, industry prospect, aggressive placement, possible or assumed long run outcomes of functions, enterprise procedures, possible growth options and other statement that are predictive in mother nature. These forward-hunting statements are based on existing anticipations, estimates, forecasts and projections about the marketplace and marketplaces in which we function and management’s recent beliefs and assumptions. These statements might be discovered by the use of ahead-searching expressions, including, but not limited to, “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “potential,” “predict,” “project,” “should,” “would” and related expressions and the negatives of all those conditions. These statements relate to upcoming situations or our money effectiveness and include known and unfamiliar pitfalls, uncertainties, and other variables which might trigger precise benefits, overall performance or achievements to be materially various from any upcoming results, performance or achievements expressed or implied by the ahead-seeking statements. This sort of components include people established forth in the Company’s filings with the Securities and Trade Commission, including our ability to elevate further funds in the potential. Potential traders are cautioned not to location undue reliance on this sort of forward-searching statements, which talk only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-wanting assertion, whether or not as a end result of new info, upcoming situations or in any other case, other than to the extent demanded by applicable securities legal guidelines.

Investor Relations Make contact with:Crescendo Communications, LLCTel: 212-671-1020E mail: [email protected]

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