Artelo Biosciences reports Q2 2022 net loss of $2.4M, announces 1-for-15 reverse stock split to regain Nasdaq compliance

ARTELO BIOSCIENCES, INC.

Net loss $2.4M ($0.87/share) in Q2 2022 vs $2.3M ($1.45/share) in Q2 2021; operating expenses $2.4M.
Cash and investments $21.3M at June 30, 2022, down from $25.6M at Dec 31, 2021; expected to fund operations through end of 2023.
15-for-1 reverse stock split effective August 10, 2022 to improve marketability and regain Nasdaq compliance; shares reduced from 42.6M to ~2.8M.
CAReS study of ART27.13 progresses to fourth cohort (650 mcg); Phase 2b enrollment expected Q4 2022.
Preclinical data for ART26.12 shows efficacy in chemotherapy-induced neuropathy models.

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