Company: ARTL
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001640334-25-002022
Chunk: 34

Company: ARTELO BIOSCIENCES, INC.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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  Nine Months Ended      September 30,    (In thousands) 2025  2024  Change Operating expenses         General and administrative $4,088  $2,779  $1,309 Research and development  4,530   3,517   1,013 Total operating expenses  8,618   6,296   2,322 Loss from operations  (8,618)  (6,296)  (2,322)Other income (expense)  (95)  248   (343)Net loss $(8,713) $(6,048) $(2,665)

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Our operating expenses for the nine months ended September 30, 2025, were $8.6 million compared to $6.3 million for the same period in 2024. The increase in operating expenses for the nine months ended September 30, 2025, was primarily the result of increases in professional fees associated with our capital raising efforts, increases in research and development expenditures related to our clinical programs, as well as a decrease in research and development tax credits from the UK Government during the current period compared to the same period during the prior year. 

Liquidity and Capital Resources

Sources of Liquidity

Liquidity is the ability of a company to generate funds to support its current and future operations, satisfy its obligations and otherwise operate on an ongoing basis.

Since our inception, we have not generated any revenue from product sales and have incurred significant operating losses and negative cash flows from our operations. Our net loss was $8.7 million for the nine months ended September 30, 2025. As of September 30, 2025, we had cash and cash equivalents of $1.7 million. 

In May 2022, we entered into a purchase agreement and a registration rights agreement (the “Equity Line”) with an institutional investor, providing for the sale of up to $20.0 million worth of our common stock over the thirty-six (36) month term of the purchase agreement, which has now expired. As of September 30, 2025, in accordance with the Equity Line we issued a total of 74,153 shares of our common stock under the purchase agreement with aggregate proceeds of $0.7 million.

In July 2023, we filed a $75.0