Company: ARTL
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001640334-25-002022
Chunk: 33

Company: ARTELO BIOSCIENCES, INC.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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 of Our Results of Operations

Revenue

To date, we have not generated any revenue and we may not generate any revenue from the sale of products or from other sources in the near future.

Operating Expenses

We classify our operating expenses into research and development, and general and administrative expenses. Research and development expense consists of expenses incurred while performing research and development activities to discover and develop our product candidates. This includes conducting preclinical studies and clinical trials, development efforts and activities related to regulatory filings for product candidates. We recognize research and development expenses as they are incurred. Our research and development expense primarily consists of costs incurred in research and development partnerships, preliminary studies, development of potential intellectual property, and research initiatives. General and administrative expense consists of professional fees, stock-based compensation, executive and director compensation and other administrative costs.

Other Income

Our other income consists of interest income and changes in fair value of our trading marketable securities.

Three months ended September 30, 2025, compared to the three months ended September 30, 2024

  Three Months Ended     September 30,   (In thousands) 2025  2024  Change Operating expenses         General and administrative $1,814  $870  $944 Research and development  1,275   325   950 Total operating expenses  3,089   1,195   1,894 Loss from operations  (3,089 )  (1,195 )  (1,894 )Other income  (31 )  63   (94 )Net loss $(3,120 ) $(1,132 ) $(1,998 )

Our operating expenses for the three months ended September 30, 2025, were $3.1 million compared to $1.2 million for the same period in 2024. The increase in operating expenses for the three months ended September 30, 2025, was primarily the result of increases in professional fees associated with our capital raising efforts and increases in research and development expenditures related to our clinical programs. During the three months ended September 30, 2024, the Company received research and development expenditures tax credits of $1.3 million from the UK Government while the same tax credits in the current year were received during the prior quarter.

Nine months ended September 30, 2025, compared to the nine months ended September 30, 2024