SOLANA BEACH, Calif. - Artelo Biosciences , Inc. (NASDAQ:ARTL), a clinical-stage biopharmaceutical company, announced today the publication of a research article in the peer-reviewed journal Drug Discovery (NASDAQ:WBD) Today. The article presents a comprehensive analysis of the role of fatty acid binding protein 7 (FABP7) in various cancers and its potential as a target for cancer treatment.
The findings discussed in the publication suggest that FABP7, a protein involved in fatty acid uptake and metabolism, is elevated in several types of cancer, including breast, brain, and kidney cancers.
Its increased presence is generally linked to worse patient outcomes. The article also highlights that inhibiting FABP7, either genetically or pharmacologically, has been associated with reduced tumor growth, migration, and invasion, as well as improved survival rates, especially in brain cancers.
Artelo Biosciences is actively pursuing research on FABP inhibition and is developing a library of FABP inhibitor compounds. The most advanced compound, ART26.12, is a selective inhibitor of FABP5 and has shown promise in preclinical studies for cancer, cancer bone pain, and neuropathies such as chemotherapy-induced peripheral neuropathy (CIPN).
The company plans to submit an investigational new drug (IND) application to the U.S. Food and Drug Administration (FDA) in the second quarter of 2024 for the development of ART26.12 in CIPN. This condition affects approximately 40% of cancer patients undergoing certain chemotherapy treatments and currently lacks an FDA-approved therapy.
Artelo's commitment to innovation in therapeutic development is aimed at addressing significant unmet medical needs in cancer, pain, and other serious conditions. This recent publication underscores the potential of Artelo's FABP inhibitor platform in advancing cancer treatment.
The press release notes that the information provided is based on the company's statements and includes forward-looking statements that involve risks and uncertainties.
InvestingPro Insights
As Artelo Biosciences (NASDAQ:ARTL) continues to make strides in the field of cancer treatment through its research on fatty acid binding protein (FABP) inhibitors, the financial landscape of the company paints a mixed picture. With a market capitalization of just $4.2 million, the company is relatively small in the biopharmaceutical space. The InvestingPro Data indicates a negative P/E ratio of -0.42, reflecting the company's current lack of profitability. Additionally, Artelo's operating income shows a loss of $9.93 million over the last twelve months as of Q4 2023.
On the upside, one of the InvestingPro Tips highlights that Artelo holds more cash than debt on its balance sheet, which can provide some financial flexibility as it moves forward with its IND application and potential clinical trials. Another positive note is that the company's liquid assets exceed its short-term obligations, suggesting that Artelo is well-positioned to manage its immediate financial liabilities.
However, it's not all smooth sailing for Artelo. The stock has experienced a significant decline over the past week, with a 10.32% drop in price total return, and a staggering 53.24% decrease over the past year. This volatility is a critical factor for potential investors to consider. Moreover, analysts do not anticipate the company will be profitable this year, and Artelo does not pay a dividend to shareholders, which may deter income-focused investors.
For those interested in a deeper dive into Artelo's financial health and future prospects, there are additional InvestingPro Tips available. Discover more insights and get an additional 10% off a yearly or biyearly Pro and Pro+ subscription with the coupon code PRONEWS24. Visit https://www.investing.com/pro/ARTL to access a total of 9 InvestingPro Tips that could help inform your investment decisions.
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