Artelo Biosciences Analyst See It As An Emerging Biotech
D. Boral Capital upgraded Artelo Biosciences, Inc. (NASDAQ:ARTL) on Tuesday.
The analyst upgraded from Hold to Buy and introduced a price forecast of $20.
Analyst Jason Kolbert wrote, “We continue to view Artelo as an emerging biotechnology company focused on Cachexia and chemotherapy-induced peripheral neuropathy (CIN) with the lead program.”
ART27.13 is a Phase 2 asset, a selective benzimadazole agonist acquired from AstraZeneca Plc (NASDAQ:AZN).
The analyst wrote that ART27.13 showed potential to stimulate appetite and promote weight gain, which offered a novel approach to improving the quality of life of cancer patients.
AstraZeneca invested millions to develop the drug. It was noted that a side effect was weight gain.
ART26.12 is the second asset licensed from the University of Stonybrook.
“ART26.12 appears to protect nerves from damage without compromising the efficacy of chemotherapy. While not the largest indication, it may be the one the company pursues based on time and cost to demonstrate definitive proof of concept data,” Kolbert wrote on Tuesday.
In June, the company announced favorable results from its first-in-human study evaluating ART26.12. The results affirmed a promising safety and pharmacokinetic (PK) profile previously observed in preclinical studies.
On Monday, Artelo Biosciences announced the presentation of new preclinical data on its Cannabidiol and Tetramethylpyrazine cocrystal drug candidate, ART12.11, at the 35th Annual International Cannabinoid Research Society (ICRS) Symposium.
Data Highlights:
- A 28-day treatment regimen with ART12.11 significantly reversed behavioral impairments in male rats exposed to chronic stress. The data with ART12.11 demonstrated efficacy on par with sertraline (Zoloft), a leading selective serotonin reuptake inhibitor (SSRI).
- Like sertraline, ART12.11 improved sucrose preference and social motivation, which are established behavioral markers of depressive-like states, to near-baseline levels.
- Unlike sertraline, ART12.11 reversed stress-induced deficits in both spatial and short-term memory without negatively impacting social memory.
The company said these findings underscore ART12.11’s potential as a highly differentiated candidate for treating depression and anxiety, especially in patients where cognitive dysfunction occurs, which is a known limitation of existing SSRI therapies.
ARTL Price Action: Artelo Biosciences stock is up 14.66% at $16.42 at publication on Tuesday.
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