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.) | $343.0K | $179.0K | $494.0K | — | — | — | $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.
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