Where is Artelo Biosciences Inc (NASDAQ: ARTL) Heading?

Artelo Biosciences Inc (NASDAQ: ARTL), the clinical-stage biopharmaceutical company, had recently reported its financial results for the Q2-2021 for the duration ending on February 28, 2021. The company’s net income is reported at 36.19%, down from a year before $1.87 million. The company’s cash on hand increased 440.03% on a year-over-year basis at $10.71 million. The headquarters of the company is in California, United States. There has been a 338.32% net change in cash on a YoY basis, which came in at $3.32 million for the reported quarter. 

The stock performance last week

A 6.67% increase in stock on Friday and ARTL exited at $1.12 after moving in the range of $1.06 – $1.12 throughout the day. The yearly range of the company is $0.45 – $3.67. The market capitalization of this company is $25.93 million. 4.1 K shares were exchanged in the market on Friday as against the average trading volume of 552.36K shares. Over the last five days, the stock has moved down 3.45%. 

Long term performance

Looking at the larger picture, since the beginning of this year, the stock has moved up 16.67%, gaining 16 cents. It has a YTD gain of 33.33%. However, over the past year, this stock has moved down 10.40%. Even in the long haul, this stock has gone down 86.00% in the last five years. Moreover, the investors haven’t seen an uptrend on this stock in the last month. Artelo Biosciences Inc has dropped 7.44% since June 14. 

The company has its headquarters in California, United States. The company is focused more on developing therapies focused on the endocannabinoid system as a part of lipid-signaling pathways. 

In its recent statement, the company has said that it is making corporate progress and is on the path of continued clinical development. Most recently, Artelo Biosciences has already dosed its first patient in the Phase 1/2 Cancer Appetite Recovery Study.