ARTELO BIOSCIENCES, INC. ARTL
We incorporated in the State of Nevada on May 2, 2011, and are presently based in the County of San Diego, California. We are a clinical stage biopharmaceutical company focused on the development and commercialization of therapeutics that target lipid-signaling modulation pathways, including the endocannabinoid system (the "ECS"), a network of receptors and neurotransmitters that form a biochemical communication system throughout the body.
Our product candidate pipeline broadly leverages leading scientific methodologies and balances risk across mechanisms of action and stages of development. Our programs represent a comprehensive approach in utilizing the power and promise of lipid signaling to develop pharmaceuticals for patients with unmet healthcare needs.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| R&D | $5.4M | $6.0M | $5.7M | $4.3M | $2.8M | $1.9M | $1.1M | $1.2M | — | — |
| SG&A | $6.0M | $4.1M | $4.2M | $6.0M | $4.6M | $2.8M | $952.3K | $508.3K | $110.9K | $752 |
| Total operating expenses | $11.4M | $10.1M | $9.9M | $10.3M | $7.4M | $4.7M | $3.2M | $2.3M | $232.8K | $29.7K |
| Operating income | -$11.4M | -$10.1M | -$9.9M | -$10.3M | -$7.4M | -$4.7M | -$3.2M | -$2.3M | -$232.8K | -$29.7K |
| Interest expense | $194.0K | $0 | $0 | $5.0K | $0 | — | — | — | $2.1K | — |
| Pre-tax income | -$12.9M | -$9.8M | -$9.3M | -$10.1M | -$7.4M | -$4.7M | -$2.2M | -$2.3M | -$234.9K | -$29.7K |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net income | -$12.9M | -$9.8M | -$9.3M | -$10.1M | -$7.4M | -$4.7M | -$2.2M | -$2.3M | -$234.9K | -$29.7K |
| EPS, basic | — | — | — | — | — | — | -1.00 | -1.84 | — | — |
| EPS, diluted | -37.75 | -54.89 | -18.80 | — | -0.40 | -1.26 | -1.00 | -1.84 | -0.03 | 0.00 |
| Shares, diluted (wtd. avg.) | 343,000 | 179,000 | 494,000 | — | — | — | 2.2M | 1.3M | 1.9M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $600.0K | $2.3M | $2.8M | $6.9M | $12.2M | $2.1M | $4.4M | $337.4K | $572.8K | $3.6K |
| Short-term investments | — | $0 | $7.6M | $1.5M | $0 | — | — | — | — | — |
| Total current assets | $695.0K | $2.6M | $11.0M | $18.3M | $10.3M | $2.3M | $4.4M | $396.4K | $574.3K | $3.6K |
| Property, plant and equipment | — | — | — | — | — | $246 | $721 | $563 | — | — |
| Other intangibles | $2.0M | $2.0M | $2.0M | $2.0M | $2.0M | $2.0M | $2.0M | — | — | — |
| Total assets | $2.8M | $4.7M | $13.0M | $20.4M | $12.6M | $4.4M | $6.5M | $397.0K | $574.3K | $3.6K |
| Accounts payable | $3.0M | $1.7M | $1.2M | $905.0K | $471.0K | $489.0K | $348.9K | $529.3K | $28.6K | $12.9K |
| Total current liabilities | $4.0M | $1.8M | $1.3M | $998.0K | $526.0K | $501.0K | $1.0M | $532.0K | $29.4K | $17.4K |
| Total liabilities | $4.1M | $1.8M | $1.3M | $1.0M | $593.0K | $501.0K | — | — | — | $17.4K |
| Retained earnings | -$63.0M | -$50.1M | -$40.3M | -$31.0M | -$16.9M | -$9.5M | -$4.8M | -$2.6M | -$295.1K | -$60.2K |
| Total equity | -$1.3M | $2.9M | $11.8M | $19.4M | $27.2M | $3.9M | $5.5M | -$135.0K | $544.8K | -$13.8K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$8.5M | -$8.3M | -$8.2M | -$8.0M | -$6.1M | -$4.3M | -$2.8M | -$1.6M | -$216.8K | -$18.5K |
| Depreciation and amortisation | — | — | — | — | — | $500 | $510 | $282 | — | — |
| Stock-based compensation | $1.1M | $818.0K | $1.0M | $2.5M | $1.5M | $381.0K | $425.1K | $290.0K | $3.3K | — |
| Investing cash flow | -$62.0K | $7.8M | $3.5M | $3.0M | -$3.4M | $0 | -$1.5M | -$845 | — | — |
| Financing cash flow | $6.9M | $112.0K | $567.0K | $0 | $14.1M | $2.0M | $8.4M | $1.4M | $785.3K | $5.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001640334-26-000461.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | -$29.7K | -$234.9K | -$2.3M | -$2.2M | -$4.7M | -$7.4M | -$10.1M | -$9.3M | -$9.8M | -$12.9M |
Recent filings and events
- Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- Other event Item 8.01
- Material agreement signed Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Regulation FD disclosure Item 7.01
- Other event Item 8.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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