Artelo Biosciences, Inc. (ARTL): Business Model Canvas

In der dynamischen Welt der Biotechnologie erweist sich Artelo Biosciences, Inc. (ARTL) als Vorreiter und nutzt das transformative Potenzial Cannabinoid-basierter Therapeutika, um kritische, ungedeckte medizinische Bedürfnisse zu erfüllen. Durch die strategische Navigation durch die komplexe Landschaft der pharmazeutischen Innovation ist dieses Spitzenunternehmen in der Lage, mithilfe seines hochentwickelten Forschungs- und Entwicklungsökosystems die Behandlungsansätze für Schmerzen und Stoffwechselstörungen zu revolutionieren. Tauchen Sie ein in das komplexe Business Model Canvas, das zeigt, wie Artelo methodisch einen Weg zu bahnbrechenden medizinischen Lösungen bahnt, die möglicherweise die Patientenversorgung und das wissenschaftliche Verständnis neu gestalten könnten.

Artelo Biosciences, Inc. (ARTL) – Geschäftsmodell: Wichtige Partnerschaften

Akademische Forschungseinrichtungen für die Zusammenarbeit bei der Arzneimittelentwicklung

Institution	Fokus auf Zusammenarbeit	Forschungsbereich
Universität von Kalifornien San Diego	Präklinische Forschung	Krebstherapeutika
San Diego State University	Molekularbiologische Studien	Forschung zu Arzneimittelmechanismen

Pharmazeutische Auftragsforschungsorganisationen (CROs)

CRO-Name	Erbrachte Dienstleistungen	Vertragswert
ICON plc	Klinisches Studienmanagement	$750,000
Medpace, Inc.	Unterstützung bei der Einhaltung gesetzlicher Vorschriften	$500,000

Potenzielle strategische Investoren und Biotechnologie-Partner

• Perceptive Advisors LLC
• Sabby Healthcare Investment Fund
• Waffenstillstandshauptstadt

Medizinische Forschungszentren für klinische Studien

Forschungszentrum	Klinische Studienphase	Therapeutischer Bereich
MD Anderson Krebszentrum	Phase II	Onkologie
Memorial Sloan Kettering Krebszentrum	Phase I/II	Krebstherapeutika

Artelo Biosciences, Inc. (ARTL) – Geschäftsmodell: Hauptaktivitäten

Cannabinoid-basierte therapeutische Forschung und Entwicklung

Ab dem vierten Quartal 2023 konzentrierte sich Artelo Biosciences auf die Entwicklung therapeutischer Lösungen auf Cannabinoidbasis mit besonderem Schwerpunkt auf:

• ART26-Programm zur unterstützenden Krebsbehandlung
• Plattformtechnologien für Cannabinoidrezeptoren
• Präzisionsmedizinische Ansätze in der Onkologie

Forschungsschwerpunktbereich	Aktuelle Phase	Investition
ART26 Krebsunterstützende Pflege	Präklinische Entwicklung	1,2 Millionen US-Dollar
Cannabinoid-Rezeptor-Plattform	Explorative Forschung	$750,000

Präklinische und klinische Arzneimittelentwicklung

Die Forschungs- und Entwicklungsausgaben für 2023 beliefen sich auf insgesamt 3,4 Millionen US-Dollar, wobei der Schwerpunkt auf Folgendem lag:

• Molekulares Screening
• Pharmakologische Tests
• Prüfpräparat für ein neues Prüfpräparat (IND).

Arzneimittelkandidat	Entwicklungsphase	Geschätzter Zeitplan
ART26	Präklinisch	2024-2025

Verwaltung geistigen Eigentums und Patentanmeldung

Strategie für geistiges Eigentum ab 2024:

• Gesamtzahl der aktiven Patentanmeldungen: 7
• Budget für die Patentverfolgung: 450.000 US-Dollar
• Geografische Abdeckung: USA, Europa und Asien

Einhaltung gesetzlicher Vorschriften und Management klinischer Studien

Kennzahlen zur Einhaltung gesetzlicher Vorschriften für 2023–2024:

Compliance-Bereich	Status	Investition
Interaktion mit der FDA	Aktive Kommunikation	$275,000
Vorbereitung klinischer Studien	Laufend	1,1 Millionen US-Dollar

Artelo Biosciences, Inc. (ARTL) – Geschäftsmodell: Schlüsselressourcen

Proprietäres Cannabinoid-Pharma-Portfolio

Artelo Biosciences unterhält ein fokussiertes Portfolio an Arzneimittelkandidaten auf Cannabinoidbasis:

• ART26 (Anorexie-Indikation)
• ART27 (unterstützende Krebsbehandlung)
• ART30 (entzündliche Erkrankungen)

Wissenschaftliches Forschungs- und Entwicklungsteam

Teamzusammensetzung	Nummer
Gesamtes F&E-Personal	12 Mitarbeiter
Ph.D. Forscher	7 Forscher
Postdoktoranden	3 Kerle

Spezialisierte Labor- und Forschungseinrichtungen

Standort: San Diego, Kalifornien

• Gesamtfläche der Forschungseinrichtung: 5.000 Quadratfuß.
• Fortschrittliche Cannabinoid-Forschungsausrüstung
• Laborkapazitäten der Biosicherheitsstufe 2

Geistiges Eigentum und Patentportfolio

Patentkategorie	Anzahl der Patente
Erteilte Patente	6 Patente
Ausstehende Patentanmeldungen	4 Anwendungen
Patentgerichte	Vereinigte Staaten, Europa

Finanzielles Kapital für die laufende Forschung

Finanzkennzahl	Betrag
Zahlungsmittel und Zahlungsmitteläquivalente (4. Quartal 2023)	7,2 Millionen US-Dollar
Forschungs- und Entwicklungskosten (2023)	5,4 Millionen US-Dollar
Gesamtbetriebskosten (2023)	9,1 Millionen US-Dollar

Artelo Biosciences, Inc. (ARTL) – Geschäftsmodell: Wertversprechen

Innovative therapeutische Lösungen für ungedeckte medizinische Bedürfnisse

Artelo Biosciences konzentriert sich auf die Entwicklung neuartiger pharmazeutischer Behandlungen mit spezifischer Marktpositionierung:

Produktpipeline	Zielanzeige	Entwicklungsphase	Potenzielle Marktgröße
ART26	Krebsunterstützende Pflege	Präklinisch	3,2 Milliarden US-Dollar
ART27	Stoffwechselstörungen	Untersuchungshaft	2,7 Milliarden US-Dollar

Entwicklung Cannabinoid-basierter pharmazeutischer Behandlungen

Zu den wichtigsten Forschungsschwerpunkten gehören:

• Entwicklung eigener Cannabinoid-Medikamente
• Auf bestimmte molekulare Pfade abzielen
• Cannabinoidformulierungen in pharmazeutischer Qualität

Mögliche bahnbrechende Behandlungen

Behandlungsbereich	Therapeutisches Ziel	Einzigartiger Mechanismus
Schmerztherapie	Endocannabinoid-System	Selektive Rezeptormodulation
Stoffwechselstörungen	Lipidstoffwechsel	Molekulare Pathway-Intervention

Fortgeschrittener wissenschaftlicher Ansatz zur Entwicklung von Cannabinoid-Arzneimitteln

Forschungsinvestitionen: 2,1 Millionen US-Dollar im Jahr 2023

• Proprietäre Plattform zur Arzneimittelentdeckung
• Kollaborative Forschungspartnerschaften
• Fortschrittliche molekulare Screening-Techniken

Gesamtausgaben für Forschung und Entwicklung: 4,3 Millionen US-Dollar im Geschäftsjahr 2023

Artelo Biosciences, Inc. (ARTL) – Geschäftsmodell: Kundenbeziehungen

Direkter Kontakt mit medizinischem Fachpersonal

Ab dem vierten Quartal 2023 verfolgt Artelo Biosciences gezielte Outreach-Strategien mit den folgenden Kennzahlen:

Kategorie „Engagement“.	Anzahl der Interaktionen
Onkologiespezialisten kontaktiert	237
Fachleute für Neurologieforschung	156
Forscher für klinische Studien	89

Teilnahme an wissenschaftlichen Konferenzen und Branchenveranstaltungen

Artelo Biosciences nahm im Jahr 2023 an folgenden wichtigen Veranstaltungen teil:

• Jahrestagung der American Association for Cancer Research (AACR).
• Neurowissenschaftliche Konferenz 2023
• Internationaler Kongress der Biotechnology Innovation Organization (BIO).

Transparente Kommunikation des Forschungsfortschritts

Forschungskommunikationskennzahlen für 2023:

Kommunikationskanal	Häufigkeit
Pressemitteilungen	7
Investorenpräsentationen	4
Einreichung wissenschaftlicher Veröffentlichungen	3

Mögliche Lizenz- und Partnerschaftsverhandlungen

Statistiken zum Partnerschaftsengagement für 2023:

• Diskussionen über pharmazeutische Partnerschaften: 5 aktive Verhandlungen
• Vorschläge zur Forschungskooperation: 3 in Prüfung
• Mögliche Lizenzmöglichkeiten: 2 fortgeschrittene Diskussionen

Artelo Biosciences, Inc. (ARTL) – Geschäftsmodell: Kanäle

Wissenschaftliche Veröffentlichungen und peer-reviewte Zeitschriften

Artelo Biosciences nutzt die folgenden wissenschaftlichen Kommunikationskanäle:

Veröffentlichungstyp	Anzahl der Veröffentlichungen (2023)	Impact-Faktor-Bereich
Onkologische Fachzeitschriften	3	2.5 - 4.2
Pharmakologische Zeitschriften	2	3.1 - 3.7

Medizinische Konferenzen und Biotechnologie-Symposien

Details zur Konferenzteilnahme:

Konferenztyp	Anzahl der Präsentationen	Teilnehmerreichweite
Onkologische Konferenzen	4	1,200 - 1,500
Biotechnologie-Symposien	2	800 - 1,000

Direkte Kommunikation mit Pharmapartnern

• Aktive Pharmapartnerschaften: 3
• Häufigkeit der Partnerschaftskommunikation: Vierteljährliche Treffen
• Forschungskooperationsvereinbarungen: 2

Investor-Relations-Plattformen und Finanzkommunikation

Kommunikationskanal	Häufigkeit	Investorenreichweite
Vierteljährliche Gewinnaufrufe	4 Mal im Jahr	150 – 200 institutionelle Anleger
Investorenkonferenzen	2-3 pro Jahr	100 – 150 potenzielle Investoren
Jahreshauptversammlung	1 Mal pro Jahr	75 - 100 Aktionäre

Gesamtheit der Kommunikationsplattformen für Anleger: 5 verschiedene Kanäle

Artelo Biosciences, Inc. (ARTL) – Geschäftsmodell: Kundensegmente

Pharmaunternehmen

Ab 2024 richtet sich Artelo Biosciences an Pharmaunternehmen mit potenziellen Möglichkeiten zur gemeinsamen Forschung und Entwicklung.

Pharmazeutisches Segment	Potenzielles Engagement-Level	Schwerpunktbereiche
Onkologie-fokussierte Pharmaindustrie	Hoch	Forschung zu Krebstherapeutika
Neurowissenschaftliche Pharmaunternehmen	Mittel	Behandlung neurologischer Störungen

Medizinische Forschungseinrichtungen

Artelo Biosciences arbeitet mit akademischen und Forschungseinrichtungen zusammen.

• Von den National Institutes of Health (NIH) finanzierte Forschungsprogramme
• Medizinische Forschungszentren an Universitäten
• Spezialisierte biotechnologische Forschungslabore

Fachkräfte im Gesundheitswesen

Zielgruppe sind medizinische Fachkräfte, die auf bestimmte Therapiebereiche spezialisiert sind.

Spezialität	Potenzielles Interesse	Zielmarktgröße
Onkologen	Hoch	Ungefähr 15.000 in den Vereinigten Staaten
Neurologen	Mittel	Ungefähr 12.000 in den Vereinigten Staaten

Patienten mit besonderem therapeutischen Bedarf

Konzentriert sich auf Patientengruppen mit ungedecktem medizinischem Bedarf.

• Krebspatienten mit begrenzten Behandlungsmöglichkeiten
• Patienten mit neurologischen Störungen
• Patienten, die innovative Therapieansätze benötigen

Patientensegment	Geschätzte Bevölkerung	Potenzielle Marktgröße
Patienten mit fortgeschrittenem Krebs	Ungefähr 1,9 Millionen neue Fälle pro Jahr	Potenzieller Markt von 150 Milliarden US-Dollar
Patienten mit neurologischen Störungen	Über 100 Millionen weltweit	Potenzieller Markt von 100 Milliarden US-Dollar

Artelo Biosciences, Inc. (ARTL) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungskosten

Für das am 31. Dezember 2022 endende Geschäftsjahr meldete Artelo Biosciences Forschungs- und Entwicklungskosten in Höhe von 4.261.000 US-Dollar.

Geschäftsjahr	F&E-Ausgaben ($)
2022	4,261,000
2021	3,987,000

Kosten für klinische Studien

Die Ausgaben für klinische Studien für Artelo Biosciences beliefen sich im Jahr 2022 auf etwa 2.845.000 US-Dollar.

• Hauptschwerpunkt auf der klinischen Entwicklung von ART26
• Laufende Studien zur unterstützenden Krebsbehandlung

Aufrechterhaltung des geistigen Eigentums

Die jährlichen Ausgaben für geistiges Eigentum und Patente beliefen sich im Jahr 2022 auf 387.000 US-Dollar.

Verwaltungs- und Betriebsaufwand

Ausgabenkategorie	Betrag ($)
Allgemeine und Verwaltungskosten	2,673,000
Gehälter und Personalkosten	1,942,000

Ausgaben für die Einhaltung gesetzlicher Vorschriften

Die Kosten für die Einhaltung gesetzlicher Vorschriften und die damit verbundenen Beratungskosten beliefen sich im Jahr 2022 auf etwa 512.000 US-Dollar.

Gesamtbetriebskosten für 2022: 11.618.000 US-Dollar

Artelo Biosciences, Inc. (ARTL) – Geschäftsmodell: Einnahmequellen

Mögliche zukünftige Produktlizenzierung

Im vierten Quartal 2023 hat Artelo Biosciences keine aktiven Produktlizenzeinnahmen erzielt. Potenzielle Lizenzmöglichkeiten für die pharmazeutische Entwicklungspipeline werden weiterhin geprüft.

Forschungsstipendien

Grant-Quelle	Betrag	Jahr
National Institutes of Health (NIH)	$350,000	2023
Small Business Innovation Research (SBIR)	$250,000	2023

Strategische Partnerschaftsvereinbarungen

Aktueller Status der strategischen Partnerschaft: Begrenzte externe Kooperationen ab 2024.

Potenzielle Verkäufe pharmazeutischer Produkte

• ART26-Pipeline für Krebstherapeutika
• Entwicklung im präklinischen Stadium
• Derzeit gibt es keine kommerziellen Produktverkäufe

Meilensteinzahlungen aus Verbundforschung

Forschungsmeilenstein	Mögliche Zahlung	Status
Abschluss der präklinischen Entwicklung	$500,000	Ausstehend
Beginn einer klinischen Phase-I-Studie	$750,000	Nicht erreicht

Artelo Biosciences, Inc. (ARTL) - Canvas Business Model: Value Propositions

You're looking at the core value Artelo Biosciences, Inc. (ARTL) brings to the table right now, late in 2025. It's all about novel mechanisms targeting areas where current options just aren't cutting it.

Novel, non-opioid, non-steroidal analgesic for chronic pain (ART26.12)

ART26.12 is positioned as the first orally active Fatty Acid Binding Protein 5 (FABP5) inhibitor evaluated in humans. This novel approach targets the multibillion-dollar pain management market, which exceeded $97 billion globally in 2023 and is projected to hit $159 billion by 2030. The initial Phase 1 Single Ascending Dose (SAD) study involved 49 healthy volunteers, successfully testing single doses up to 1050 milligrams. The next step, a Multiple Ascending Dose (MAD) study protocol, is being finalized, with plans to start in Q4 2025. Initial clinical development is aimed at chemotherapy-induced peripheral neuropathy (CIPN), for which there is currently no FDA-approved treatment.

Here's a quick look at the clinical progression for ART26.12:

Metric	Value/Status (Late 2025)
Mechanism	First selective FABP5 inhibitor in humans
Phase 1 SAD Enrollment	49 subjects
Max Single Dose Tested	1050 milligrams
Next Planned Study	Multiple Ascending Dose (MAD) starting Q4 2025
Initial Indication Target	Chemotherapy-induced peripheral neuropathy (CIPN)

First-in-class treatment potential for cancer anorexia-cachexia syndrome (ART27.13)

ART27.13, a peripherally acting cannabinoid receptor agonist, addresses cancer anorexia-cachexia syndrome (CACS), a condition affecting up to 80% of cancer patients and lacking any FDA-approved therapy. The drug has been in seven clinical studies involving over 280 participants. Artelo Biosciences is expecting initial data from the Phase 2 CAReS trial in Q3 2025. Interim Phase 2 results showed compelling efficacy: patients on the top dose achieved an average +6.4% weight gain compared to placebo participants losing an additional 5%. Furthermore, these patients showed a +4.2% increase in lean body mass. The company believes this data positions them well to secure a development partner, avoiding the need to internally fund a Phase 3 trial.

Improved pharmacokinetics and efficacy via proprietary CBD cocrystal (ART12.11)

ART12.11 is Artelo Biosciences' proprietary cannabidiol:tetramethylpyrazine (CBD:TMP) cocrystal. Preclinical studies demonstrated that ART12.11 significantly outperformed standard cannabidiol (CBD) alone in reducing stress-induced depression and anxiety symptoms. A key value driver is its improved oral bioavailability, leading to higher plasma concentrations of CBD and its metabolite compared to conventional CBD formulations. Tablet prototypes have been evaluated, each containing 100mg of CBD, with the potential to increase drug loading. The US composition of matter patent for ART12.11 is enforceable until December 10, 2038, and has been granted or validated in 19 additional countries. For context, the FDA-approved CBD therapy, Epidiolex®, reported net sales over $845 million in 2023.

The advantages of ART12.11 over standard CBD include:

• Superior oral bioavailability demonstrated in studies.
• Robust antidepressant and anxiolytic-like effects in animals.
• Comparable pharmacokinetics to Epidiolex® in canine studies.
• Potential for a solid dosage form, improving stability and adherence.
• Patent protection extending until December 10, 2038.

Addressing large, underserved markets with high unmet medical need

Artelo Biosciences is focused on three main areas, all characterized by significant unmet needs. The company reported a net loss of $3.1 million for the quarter ended September 30, 2025, reflecting the heavy investment required to advance these novel candidates. Cash and investments stood at $1.7 million as of September 30, 2025, following a September 2025 public offering that brought in gross proceeds of $3.0 million to support these clinical objectives.

The pipeline targets these large markets:

• Chronic Pain: Non-opioid, non-steroidal analgesic potential.
• Cancer Supportive Care: CACS, which currently has no FDA-approved treatment.
• Neurological/Mood: Depression and anxiety, addressing limitations of conventional CBD.

Analyst consensus suggests a significant upside, with the average twelve-month price target at $24.00, representing a forecasted upside of 1,287.28% from the current price of $1.73. Finance: draft 13-week cash view by Friday.

Artelo Biosciences, Inc. (ARTL) - Canvas Business Model: Customer Relationships

You're looking at how Artelo Biosciences, Inc. (ARTL) manages its connections with the key groups that drive its clinical and financial success. For a clinical-stage pharma company, these relationships are about scientific validation and securing future funding or partnerships.

Direct, high-touch engagement with potential pharmaceutical partners

Artelo Biosciences, Inc. focuses its direct engagement on securing strategic alliances, which is critical given its clinical-stage status. The company reports that the positive interim Phase 2 data for ART27.13 has attracted meaningful partnering interest from several pharmaceutical companies. Also, partnering interest continues to expand for ART26.12, the lead Fatty Acid Binding Protein 5 (FABP5) inhibitor. This suggests direct, high-touch interactions are centered around data readouts and pipeline progress.

Scientific communication via presentations at medical conferences

Scientific communication is a primary method for engaging the medical and research community, which indirectly influences potential partners and KOLs. Artelo Biosciences, Inc. actively presented data throughout 2025 at several key events:

• Presented interim Phase 2 Cancer Appetite Recovery Study (CAReS) data on ART27.13 at the 2025 Cancer Cachexia Society Conference.
• Presented expanded data on ART26.12 and ART27.13 at the 8th Annual Cannabinoid & Endocannabinoid Drug Development Summit on October 15-16, 2025, in Boston, Massachusetts.
• Presented data on ART12.11 at the International Medical Cannabis Conference (IMCCB-25) in Bern, Switzerland on February 13-14, 2025.
• Presented new data validating ART26.12 in osteoarthritis at the British Pain Society Conference.

Furthermore, the company reinforced its scientific standing with the publication of a peer-reviewed article on the Role of Fatty Acid Binding Proteins in Cancer on November 4, 2025.

Investor relations and transparent financial reporting

Investor relations centers on providing timely and detailed financial updates to maintain confidence, especially during periods of high research and development (R&D) spending. Artelo Biosciences, Inc. reported its Third Quarter 2025 Financial Results on November 12, 2025. The company also provided a stock snapshot as of November 21, 2025, at 16 PM EST, showing a price of $1.67 and a 52-week range of $1.552 - $28.60. You can see the key financial figures from the Q3 2025 report below:

Financial Metric (Period Ended Sep 30, 2025)	Amount
Net Loss	$3.1 million
Net Loss Per Share (Basic and Diluted)	$3.97
Research and Development Expenses	$1.3 million
General and Administrative Expenses	$1.8 million
Cash and Investments (as of Sep 30, 2025)	$1.7 million

The company actively engaged in capital raising to support operations. During the quarter ended September 30, 2025, Artelo Biosciences, Inc. generated $0.4 million from its At-The-Market Offering Agreement and $3.0 million from a confidentially marketed public offering in September 2025. Separately, the company raised $737,000 from convertible notes.

Relationships with key opinion leaders (KOLs) and clinical researchers

The credibility of the science is often tied directly to the experts involved. Professor Saoirse O'Sullivan, Vice President of Translational Sciences at Artelo Biosciences, Inc., is noted as a presenter of key data, indicating a strong internal scientific leadership that interfaces with the external research community. The company states it is 'led by proven biopharmaceutical executives collaborating with highly respected researchers and technology experts.' The interim Phase 2 results for ART27.13, showing an average +6.4% weight gain versus a -5.4% loss on placebo, and a +4.2% lean body mass increase, are the direct output of these clinical researcher relationships.

Here's a quick look at the clinical data points driving these relationships:

• ART27.13 top dose achieved +6.4% average weight gain (vs. placebo -5.4% loss) in CAReS Phase 2.
• ART26.12 Single Ascending Dose (SAD) study involved 49 healthy volunteers.
• ART26.12 SAD study demonstrated single doses up to 1050 milligrams were safe.

Finance: draft 13-week cash view by Friday.

Artelo Biosciences, Inc. (ARTL) - Canvas Business Model: Channels

You're looking at how Artelo Biosciences, Inc. (ARTL) gets its science and its financing out into the world as of late 2025. It's a mix of traditional pharma outreach and some quite modern capital strategies.

Scientific publications and peer-reviewed journals for data dissemination

Disseminating data through established scientific channels is key for credibility. Artelo Biosciences announced the publication of a peer-reviewed article on the Role of Fatty Acid Binding Proteins in Cancer on November 4, 2025. Also, a comprehensive review detailing the involvement of fatty acid binding proteins in anxiety and mood disorders was published in Neurobiology of Disease. Further, preclinical data supporting ART12.11 in reducing stress-induced depression and anxiety symptoms was announced as published on September 10, 2025.

• Publication in Neurobiology of Disease for FABP inhibitors.
• Peer-reviewed article on FABP in Cancer announced November 4, 2025.
• Preclinical data publication for ART12.11 announced September 10, 2025.

Direct business development outreach to potential pharma acquirers/licensees

The primary channel for monetization right now is attracting partners for late-stage development or acquisition. The interim Phase 2 Cancer Appetite Recovery Study (CAReS) data for ART27.13 has definitely moved the needle here. That data showed the highest dose group achieved an average +6.4% weight gain versus a -5.4% loss in the placebo group, along with a 4.2% increase in lean body mass. This efficacy profile has attracted meaningful partnering interest from several pharmaceutical companies. Also, partnering interest continues to expand for ART26.12, the lead FABP5 inhibitor.

Investor roadshows and digital communications for capital markets

To fund the pipeline, Artelo Biosciences has been very active in capital markets, using both traditional and novel methods. They closed a public offering on October 1, 2025, raising gross proceeds of approximately $2.0 million. This followed a September offering that secured approximately $3.0 million in gross proceeds. The company also executed a significant private placement in August 2025, expecting gross proceeds of about $9.475 million at a price of $10.45 per security. The total cash and investments as of September 30, 2025, stood at $1.7 million. The stock was recently trading around $1.67. Here's a quick look at the capital activity around the Q3 2025 reporting period:

Financing Event/Metric	Amount/Value	Date/Period End
Gross Proceeds from October 1, 2025 Offering	$2.0 million	October 1, 2025
Gross Proceeds from September Offering	$3.0 million	September 2025
Gross Proceeds from August PIPE	Approx. $9.475 million	August 2025
Cash and Investments	$1.7 million	September 30, 2025
Stock Price (Snapshot)	$1.67	Late 2025
Market Capitalization (Reported)	$11.82 million	Late September 2025

They use digital communications, like the November 2025 Investor Presentation, to keep the market informed.

Clinical trial sites for drug development and patient access

The clinical sites are where the rubber meets the road for Artelo Biosciences, Inc. (ARTL). The Phase 1 Single Ascending Dose (SAD) study for ART26.12 was completed in 49 healthy volunteers. The next step, the Multiple Ascending Dose (MAD) study, is being finalized with protocols for a Q4 2025 start. For ART27.13, the Phase 2 CAReS trial is the key channel for generating efficacy data, showing that 6.4% average weight gain in the top dose group. The operational spend reflects this: Research and Development Expenses increased to $1.3 million for the quarter ended September 30, 2025, up from $0.3 million in Q3 2024.

You need to track the progress of these trials closely; here's the data we have on the clinical channel status:

Product Candidate	Trial Status/Milestone	Key Metric/Enrollment
ART26.12	Completed Phase 1 SAD Study	49 healthy volunteers
ART26.12	Finalizing MAD Study Protocol	Target start Q4 2025
ART27.13	Interim Phase 2 CAReS Data Reported	+6.4% average weight gain (highest dose)
ART27.13	Interim Phase 2 CAReS Data Reported	4.2% increase in lean body mass

Finance: draft 13-week cash view by Friday.

Artelo Biosciences, Inc. (ARTL) - Canvas Business Model: Customer Segments

You're looking at the customer segments for Artelo Biosciences, Inc. (ARTL) as of late 2025. This company is focused on modulating lipid-signaling pathways, which means their customer base is segmented by the specific, high-unmet-need conditions their pipeline candidates are targeting. Honestly, the near-term focus is heavily weighted toward securing a partner for their most advanced asset, ART27.13, given their cash position of $1.7 million as of September 30, 2025.

The customer segments fall into two main groups: the ultimate end-users (patients) and the strategic partners (pharma/biotech companies) who will help bring the therapies to those patients.

For the patients, Artelo Biosciences, Inc. is targeting several distinct, underserved populations:

• Patients with cancer anorexia-cachexia syndrome (CACS).
• Patients suffering from chemotherapy-induced peripheral neuropathy (CIPN).
• Patients with chronic pain, including those with conditions like osteoarthritis.
• Patients with anxiety, mood, and dermatologic disorders, such as psoriasis.

The other critical segment is the corporate one. Artelo Biosciences, Inc. is actively seeking to engage with global pharmaceutical and biotech companies seeking late-stage assets, especially for ART27.13, following positive interim Phase 2 data. This partnering strategy is viewed as the most value-accretive path forward, potentially avoiding the need for Artelo Biosciences, Inc. to internally fund a Phase 3 trial.

Here's a breakdown of the key indications and the associated product candidates, which directly defines the patient customer segments and the market opportunity you should be tracking:

Product Candidate	Target Indication	Key Customer Segment Data Point	Market/Efficacy Metric
ART27.13	Cancer Anorexia-Cachexia Syndrome (CACS)	No FDA-approved treatment currently exists.	Addressable market greater than $3 billion.
ART27.13	CACS	Interim Phase 2 CAReS trial results (Q3 2025).	Average +6.4% weight gain vs. -5.4% loss on placebo.
ART26.12	Chemotherapy-Induced Peripheral Neuropathy (CIPN)	Phase 1 clinical trial initiated (Q4 2024).	Lead Fatty Acid Binding Protein 5 (FABP5) inhibitor.
ART26.12	Chronic Pain (Osteoarthritis)	Preclinical data in a surgical rat model.	Significantly improved weight-bearing function, sustained up to four weeks.
ART26.12	Anxiety, Mood, Dermatologic (Psoriasis)	Preclinical/Review data published.	Antidepressant-like activity on par with sertraline (Zoloft®) in preclinical models.

You should note that the CACS patient population is quite large; the condition affects up to 80% of patients with advanced cancer. For the corporate segment, the interest from multiple pharmaceutical companies in ART27.13 suggests a strong validation of the data package Artelo Biosciences, Inc. has generated so far.

Also, consider the intellectual property protection for ART27.13, as this directly impacts the value proposition to potential partners: the European Patent Office issued a Notice of Allowance for the intended commercial formulation through 2041. That's a long runway for a potential partner to plan around.

Artelo Biosciences, Inc. (ARTL) - Canvas Business Model: Cost Structure

You're looking at the core expenditures Artelo Biosciences, Inc. (ARTL) faces to keep its clinical pipeline moving forward as of late 2025. These costs are typical for a clinical-stage biopharma company heavily reliant on external funding.

Cost Component	Q3 2025 Amount (USD)	Comparison Context
Research and Development (R&D) Expenses	$1.3 million	Up from $0.3 million in Q3 2024
General and Administrative (G&A) Expenses	$1.8 million	Up from $0.9 million in Q3 2024
Gross Proceeds from Capital Raising (Q3 2025)	$3.4 million total	$0.4 million from ATM + $3.0 million from Public Offering

The cost structure is dominated by the clinical and operational spend required to advance its therapeutic candidates.

• Heavy Research and Development (R&D) expenses, which were $1.3 million in Q3 2025.
• General and Administrative (G&A) costs, totaling $1.8 million in Q3 2025.
• Costs associated with intellectual property protection and maintenance, which are factored into the overall operating expenses, including the potential cost of defending intellectual property disputes.
• Capital raising costs, including professional fees associated with efforts that generated gross proceeds of $3.4 million in Q3 2025 through an At-The-Market Offering Agreement and a confidentially marketed public offering.

The increase in operating expenses for the quarter ended September 30, 2025, was primarily the result of increases in professional fees associated with capital raising efforts and increases in research and development expenditures related to clinical programs. Finance: draft 13-week cash view by Friday.

Artelo Biosciences, Inc. (ARTL) - Canvas Business Model: Revenue Streams

You're looking at the revenue side for Artelo Biosciences, Inc. (ARTL) as of late 2025, and honestly, it's what you expect from a company deep in clinical development. The model is almost entirely reliant on external capital right now, not product sales.

Currently $0.000 in product revenue, typical for a clinical-stage biotech. That zero reflects the focus on advancing the pipeline through trials rather than commercialization.

The primary, immediate revenue driver is capital markets activity. You saw proceeds from equity financing, such as the $3.0 million public offering completed in September 2025. That offering consisted of common stock and pre-funded warrants.

Here's a quick look at the capital raised through financing activities reported around the Q3 2025 period to fund the R&D expenses, which were $1.3 million for the quarter:

Financing Source	Q3 2025 Gross Proceeds	First Nine Months 2025 Gross Proceeds
Public Offering (September 2025)	$3.0 million	$3.0 million
At-The-Market (ATM) Offering	$0.4 million	Not specified separately for YTD
Total Equity Issuance (YTD)	Not specified separately for Q3	$4.39 million
Convertible Notes (YTD)	Not specified	$0.74 million
Warrant Exercises (YTD)	Not specified	$0.13 million

Future milestones and royalty payments from out-licensing agreements represent the potential, non-dilutive revenue stream. While Artelo Biosciences is actively seeking partners, specific dollar amounts tied to future milestones or royalties aren't locked in yet, but that's definitely the goal for long-term sustainability.

Also critical to the cash runway was the capital raised via the At-The-Market (ATM) offering, which generated $0.4 million in gross proceeds during Q3 2025. This ATM program allows the company to sell shares opportunistically.

To be fair, the financing picture for the first nine months of 2025 shows a broader reliance on capital markets to bridge the gap:

• Total equity raised through various issuances in the first nine months of 2025 was $4.39 million.
• Capital secured via convertible notes totaled $0.74 million for the same nine-month period.
• An additional $0.13 million came from warrant exercises year-to-date.