- Artelo is developing ART27.13, which is a synthetic drug that targets cannabinoid receptors, but only outside the brain.
- The company said preclinical research suggests that peripheral cannabinoid receptor activity may positively influence aqueous humor dynamics and ocular blood outflow.
- Artelo is developing ART27.13 as a once-daily oral drug that could improve body weight, appetite, muscle degeneration, and overall quality of life in cancer patients.
Artelo Biosciences Inc. (ARTL) on Wednesday announced that it has secured a fully funded glaucoma study following an agreement with Glaucoma UK and the HSC R&D Division.
The study will evaluate the effects of Artelo’s peripherally selective synthetic cannabinoid, ART27.13, in patients with glaucoma or ocular hypertension.
Artelo Biosciences shares were up more than 33% in Wednesday’s opening trade. Retail sentiment on Stocktwits around the company trended in the ‘extremely bullish’ territory with message volumes at ‘high’ levels at the time of writing.
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What Is The ART27.13 Treatment?
ART27.13 is a synthetic drug that targets cannabinoid receptors, but only outside the brain. The company stated that preclinical research suggests that peripheral cannabinoid receptor activity may positively influence aqueous humor dynamics and ocular blood outflow. These are the two key mechanisms involved in intraocular pressure regulation.
“The ophthalmology community has long recognized the potential of cannabinoids in managing intraocular pressure, but their use has been limited by central nervous system effects. ART27.13’s peripherally selective design may overcome this challenge,” said Artelo CEO Greg D. Gorgas.
The company is developing ART27.13 as a once-daily, orally administered drug. Artelo says it has the potential to improve body weight, appetite, muscle degeneration, and quality of life in cancer patients.
What Does Artelo Do?
Artelo is a California-based clinical-stage pharmaceutical company currently developing and commercializing proprietary therapeutics that modulate how fat-based molecules signal between cells.
The company has a diversified pipeline of therapeutics for patients with anorexia, cancer, anxiety, dermatologic conditions, pain, and inflammation.
ARTL stock is up 75% year-to-date, but down 61% over the past 12 months. The Vanguard Extended Market Index Fund ETF (VXF) is up 18% over the past 12 months.
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