Artelo does not envision need to internally fund Phase 3 trial of ART27.13

Artelo Biosciences (ARTL) affirms that, based on the strength of the positive interim results from its Phase 2 CAReS trial of ART27.13 for cancer anorexia-cachexia syndrome and the “strong interest expressed by multiple pharmaceutical companies awaiting these results,” it is well positioned to secure a development partner for ART27.13. “This morning, Artelo announced positive interim Phase 2 results demonstrating compelling improvements in weight, lean body mass, and activity in patients treated with ART27.13… As a result of ongoing discussions with potential partners and the supportive clinical profile of ART27.13 for CACS, Artelo does not envision the need to internally fund a Phase 3 trial and believes a licensing transaction represents the most value-accretive path forward for shareholders,” the company stated. “This morning’s interim results highlight the potential of ART27.13 to become an FDA and internationally approved therapy for cancer anorexia-cachexia syndrome, an underserved, multi-billion-dollar potential market. Based on strong interest from multiple pharmaceutical companies, and given the strength of our newly released data, our immediate strategy is to secure a development partner to efficiently advance ART27.13 through registrational trials. We plan to provide further updates as soon as practical,” added Gregory Gorgas, President and CEO of Artelo.