Artelo Biosciences, Inc. (ARTL): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de la biotecnología, Artelo Biosciences, Inc. (ARTL) emerge como una fuerza pionera, aprovechando el potencial transformador de las terapias basadas en cannabinoides para abordar las necesidades médicas críticas no satisfechas. Al navegar estratégicamente por el complejo panorama de la innovación farmacéutica, esta compañía de vanguardia está preparada para revolucionar los enfoques de tratamiento para el dolor y los trastornos metabólicos a través de su sofisticado ecosistema de investigación y desarrollo. Cambie en el intrincado lienzo de modelo de negocio que revela cómo Artelo está construyendo metódicamente una vía para soluciones médicas innovadoras que podrían remodelar la atención del paciente y la comprensión científica.

Artelo Biosciences, Inc. (ARTL) - Modelo de negocios: asociaciones clave

Instituciones de investigación académica para la colaboración del desarrollo de fármacos

Institución	Enfoque de colaboración	Área de investigación
Universidad de California San Diego	Investigación preclínica	Terapéutica del cáncer
Universidad Estatal de San Diego	Estudios de biología molecular	Investigación del mecanismo de drogas

Organizaciones de investigación de contratos farmacéuticos (CRO)

Nombre de Cro	Servicios proporcionados	Valor de contrato
Ícono plc	Gestión de ensayos clínicos	$750,000
Medpace, Inc.	Apoyo de cumplimiento regulatorio	$500,000

Posibles inversores estratégicos y socios de biotecnología

• Perceptive Advisors LLC
• Fondo de inversión en salud de Sabby
• Capital de armisticio

Centros de investigación médica para ensayos clínicos

Centro de investigación	Fase de ensayo clínico	Área terapéutica
Centro de cáncer de MD Anderson	Fase II	Oncología
Memorial Sloan Kettering Cancer Center	Fase I/II	Terapéutica del cáncer

Artelo Biosciences, Inc. (ARTL) - Modelo de negocios: actividades clave

Investigación y desarrollo terapéutico basado en cannabinoides

A partir del cuarto trimestre de 2023, Artelo Biosciences se centró en el desarrollo de soluciones terapéuticas a base de cannabinoides con un énfasis específico en:

• Programa ART26 dirigido a la atención de apoyo del cáncer
• Tecnologías de plataforma de receptores de cannabinoides
• Enfoques de medicina de precisión en oncología

Área de enfoque de investigación	Etapa actual	Inversión
ATACIÓN DE APOYACIÓN DE CANCER ART26	Desarrollo preclínico	$ 1.2 millones
Plataforma de receptores de cannabinoides	Investigación exploratoria	$750,000

Desarrollo de fármacos preclínicos y clínicos

Los gastos de investigación y desarrollo para 2023 totalizaron $ 3.4 millones, con un enfoque principal en:

• Cribado molecular
• Prueba farmacológica
• Preparación de la nueva droga de investigación (IND)

Candidato a la droga	Fase de desarrollo	Línea de tiempo estimada
ART26	Preclínico	2024-2025

Administración de propiedades intelectuales y presentación de patentes

Estrategia de propiedad intelectual a partir de 2024:

• Solicitudes de patentes activas totales: 7
• Presupuesto de enjuiciamiento de patentes: $ 450,000
• Cobertura geográfica: Estados Unidos, Europa y Asia

Cumplimiento regulatorio y gestión de ensayos clínicos

Métricas de cumplimiento regulatorio para 2023-2024:

Área de cumplimiento	Estado	Inversión
Interacción de la FDA	Comunicación activa	$275,000
Preparación de ensayos clínicos	En curso	$ 1.1 millones

Artelo Biosciences, Inc. (ARTL) - Modelo de negocios: recursos clave

Cartera farmacéutica cannabinoide patentada

Artelo Biosciences mantiene una cartera enfocada de candidatos farmacéuticos a base de cannabinoides:

• ART26 (indicación de anorexia)
• ART27 (atención de apoyo del cáncer)
• Art30 (condiciones inflamatorias)

Equipo de Investigación y Desarrollo Científico

Composición del equipo	Número
Personal total de I + D	12 empleados
Doctor en Filosofía. Investigadores	7 investigadores
Compañeros postdoctorales	3 compañeros

Laboratorio e instalaciones de investigación especializadas

Ubicación: San Diego, California

• Espacio total de la instalación de investigación: 5,000 pies cuadrados.
• Equipo avanzado de investigación de cannabinoides
• Capacidades de laboratorio Nivel 2 de bioseguridad

Propiedad intelectual y cartera de patentes

Categoría de patente	Número de patentes
Patentes emitidos	6 patentes
Aplicaciones de patentes pendientes	4 aplicaciones
Jurisdicciones de patente	Estados Unidos, Europa

Capital financiero para la investigación en curso

Métrica financiera	Cantidad
Equivalentes de efectivo y efectivo (cuarto trimestre de 2023)	$ 7.2 millones
Gastos de investigación y desarrollo (2023)	$ 5.4 millones
Gastos operativos totales (2023)	$ 9.1 millones

Artelo Biosciences, Inc. (ARTL) - Modelo de negocios: propuestas de valor

Soluciones terapéuticas innovadoras dirigidas a las necesidades médicas no satisfechas

Artelo Biosciences se centra en desarrollar nuevos tratamientos farmacéuticos con posicionamiento específico del mercado:

Tubería de productos	Indicación objetivo	Etapa de desarrollo	Tamaño potencial del mercado
ART26	Cuidados de apoyo al cáncer	Preclínico	$ 3.2 mil millones
ART27	Trastornos metabólicos	De investigación	$ 2.7 mil millones

Desarrollo de tratamientos farmacéuticos a base de cannabinoides

Las áreas de enfoque de investigación clave incluyen:

• Desarrollo de fármacos cannabinoides patentados
• Dirigido a vías moleculares específicas
• Formulaciones cannabinoides de grado farmacéutico

Posibles tratamientos innovadores

Área de tratamiento	Objetivo terapéutico	Mecanismo único
Manejo del dolor	Sistema endocannabinoide	Modulación selectiva del receptor
Trastornos metabólicos	Metabolismo lipídico	Intervención de la vía molecular

Enfoque científico avanzado para el desarrollo de medicamentos cannabinoides

Inversión de investigación: $ 2.1 millones en 2023

• Plataforma de descubrimiento de drogas patentado
• Asociaciones de investigación colaborativa
• Técnicas avanzadas de detección molecular

Gastos totales de I + D: $ 4.3 millones en el año fiscal 2023

Artelo Biosciences, Inc. (ARTL) - Modelo de negocios: relaciones con los clientes

Compromiso directo con profesionales médicos

A partir del cuarto trimestre de 2023, Artelo Biosciences mantiene estrategias de divulgación específicas con las siguientes métricas:

Categoría de compromiso	Número de interacciones
Especialistas en oncología contactados	237
Profesionales de investigación de neurología	156
Investigadores de ensayos clínicos	89

Conferencia científica y participación en eventos de la industria

Artelo Biosciences participó en los siguientes eventos clave en 2023:

• Reunión anual de la Asociación Americana de Investigación del Cáncer (AACR)
• Neurociencia 2023 Conferencia
• Convención Internacional de la Organización de Innovación Biotecnología (BIO)

Comunicación transparente del progreso de la investigación

Métricas de comunicación de investigación para 2023:

Canal de comunicación	Frecuencia
Comunicados de prensa	7
Presentaciones de inversores	4
Publicaciones de publicación científica	3

Posibles negociaciones de licencias y asociación

Estadísticas de participación de la asociación para 2023:

• Discusiones de asociación farmacéutica: 5 negociaciones activas
• Propuestas de colaboración de investigación: 3 bajo revisión
• Oportunidades potenciales de licencia: 2 discusiones en etapa avanzada

Artelo Biosciences, Inc. (ARTL) - Modelo de negocios: canales

Publicaciones científicas y revistas revisadas por pares

Artelo Biosciences utiliza los siguientes canales de comunicación científica:

Tipo de publicación	Número de publicaciones (2023)	Rango de factores de impacto
Revistas de oncología	3	2.5 - 4.2
Diarios de farmacología	2	3.1 - 3.7

Conferencias médicas y simposios de biotecnología

Detalles de participación de la conferencia:

Tipo de conferencia	Número de presentaciones	Alcance de los asistentes
Conferencias oncológicas	4	1,200 - 1,500
Simposios de biotecnología	2	800 - 1,000

Comunicación directa con socios farmacéuticos

• Asociaciones farmacéuticas activas: 3
• Frecuencia de comunicación de asociación: reuniones trimestrales
• Acuerdos de investigación colaborativos: 2

Plataformas de relaciones con inversores y comunicaciones financieras

Canal de comunicación	Frecuencia	Alcance de los inversores
Llamadas de ganancias trimestrales	4 veces al año	150 - 200 inversores institucionales
Conferencias de inversores	2-3 por año	100 - 150 inversores potenciales
Reunión anual de accionistas	1 vez por año	75 - 100 accionistas

Plataformas de comunicación de inversores totales: 5 canales distintos

Artelo Biosciences, Inc. (ARTL) - Modelo de negocios: segmentos de clientes

Compañías farmacéuticas

A partir de 2024, Artelo Biosciences se dirige a compañías farmacéuticas con posibles oportunidades de investigación y desarrollo de colaboración.

Segmento farmacéutico	Nivel de compromiso potencial	Áreas de enfoque
Farmacéutico centrado en la oncología	Alto	Investigación de Terapéutica del Cáncer
Neurociencia Firmas farmacéuticas	Medio	Tratamientos de trastorno neurológico

Instituciones de investigación médica

Artelo Biosciences colabora con instituciones académicas y de investigación.

• Institutos Nacionales de Salud (NIH) Programas de investigación financiados
• Centros de investigación médica con sede en la universidad
• Laboratorios de investigación de biotecnología especializadas

Profesionales de la salud

Profesionales de atención médica objetivo que se especializan en áreas terapéuticas específicas.

Especialidad	Interés potencial	Tamaño del mercado objetivo
Oncólogos	Alto	Aproximadamente 15,000 en Estados Unidos
Neurólogos	Medio	Aproximadamente 12,000 en Estados Unidos

Pacientes con necesidades terapéuticas específicas

Centrado en las poblaciones de pacientes con necesidades médicas no satisfechas.

• Pacientes de cáncer con opciones de tratamiento limitadas
• Pacientes de desorden neurológico
• Pacientes que requieren enfoques terapéuticos innovadores

Segmento de paciente	Población estimada	Tamaño potencial del mercado
Pacientes con cáncer avanzado	Aproximadamente 1.9 millones de casos nuevos anualmente	Mercado potencial de $ 150 mil millones
Pacientes de desorden neurológico	Más de 100 millones a nivel mundial	Mercado potencial de $ 100 mil millones

Artelo Biosciences, Inc. (ARTL) - Modelo de negocios: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal que finalizó el 31 de diciembre de 2022, Artelo Biosciences reportó gastos de I + D de $ 4,261,000.

Año fiscal	Gastos de I + D ($)
2022	4,261,000
2021	3,987,000

Costos de ensayo clínico

Los gastos de ensayos clínicos para Artelo Biosciences en 2022 fueron de aproximadamente $ 2,845,000.

• Enfoque principal en el desarrollo clínico ART26
• Estudios continuos en cuidados de apoyo al cáncer

Mantenimiento de la propiedad intelectual

La propiedad intelectual anual y los gastos relacionados con las patentes fueron de $ 387,000 en 2022.

Sobrecarga administrativa y operativa

Categoría de gastos	Monto ($)
Gastos generales y administrativos	2,673,000
Costos de salarios y personal	1,942,000

Gastos de cumplimiento regulatorio

El cumplimiento regulatorio y los costos de consultoría relacionados fueron de aproximadamente $ 512,000 en 2022.

Gastos operativos totales para 2022: $ 11,618,000

Artelo Biosciences, Inc. (ARTL) - Modelo de negocios: flujos de ingresos

Licencias potenciales de productos futuros

A partir del cuarto trimestre de 2023, Artelo Biosciences no tiene ingresos activos de licencias de productos. Las oportunidades potenciales de licencia permanecen en exploración por su tubería de desarrollo farmacéutico.

Subvenciones de investigación

Fuente de subvenciones	Cantidad	Año
Institutos Nacionales de Salud (NIH)	$350,000	2023
Investigación de innovación de pequeñas empresas (SBIR)	$250,000	2023

Acuerdos de asociación estratégica

Estado de asociación estratégica actual: Colaboraciones externas limitadas a partir de 2024.

Venta potencial de productos farmacéuticos

• Tuberías art26 dirigida a la terapéutica del cáncer
• Desarrollo de etapa preclínica
• No hay ventas actuales de productos comerciales

Pagos de hitos de la investigación colaborativa

Hito de investigación	Pago potencial	Estado
Finalización del desarrollo preclínico	$500,000	Pendiente
Iniciación de ensayo clínico de fase I	$750,000	No logrado

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.