What are the investment strengths of Artelo Biosciences Inc (ARTL)?

R&D spend of 5.4M TTM shows pipeline investment; if a clinical asset advances, re-rating from 2.6M market cap could be dramatic on percentage basis. Enterprise value of 2.7M is trivial — any positive clinical readout or partnership could represent multiples of current valuation.

What are the investment risks for Artelo Biosciences Inc (ARTL)?

600K cash with -8.5M annual FCF and -1.3M equity means survival requires imminent capital raise, likely at massive dilution given 2.6M market cap. Zero revenue, negative tangible book (-3.3M), and AP of 3.0M exceeding cash 5x — balance sheet is functionally insolvent.

Artelo Biosciences Inc

ARTL

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Artelo Biosciences Inc AI Insights

Informational only. Not investment advice.

As of 2026-03-12

Snapshot

Zero revenue TTM with -8.5M FCF and only 600K cash remaining — under 1 month of runway at current burn rate without new financing.[Free Cash Flow]
Negative equity of -1.3M TTM with intangibles (2.0M) comprising 73% of total assets (2.8M) — tangible book value is -3.3M.[Common Stockholders Equity]
EPS TTM of -$37.56 vs industry median -$1.02 — losses per share 37x worse than peer median, reflecting extreme dilution risk.[Earnings Per Share]

Watch Triggers

Cash And Equivalents: Falls below 300K or new financing announced — At current burn, cash exhaustion is weeks away — any raise terms define shareholder dilution
Research And Development: Material reduction below 3M quarterly — R&D cuts would signal pipeline deprioritization, removing the primary bull thesis
Total Revenue: Any revenue recognition above zero — First revenue would represent a phase transition from pre-revenue biotech to commercial entity

Bull Case

R&D spend of 5.4M TTM shows pipeline investment; if a clinical asset advances, re-rating from 2.6M market cap could be dramatic on percentage basis.

Research And Development

Enterprise value of 2.7M is trivial — any positive clinical readout or partnership could represent multiples of current valuation.

Enterprise Value

Bear Case

600K cash with -8.5M annual FCF and -1.3M equity means survival requires imminent capital raise, likely at massive dilution given 2.6M market cap.

Cash And EquivalentsFree Cash FlowCommon Stockholders Equity

Zero revenue, negative tangible book (-3.3M), and AP of 3.0M exceeding cash 5x — balance sheet is functionally insolvent.

Total RevenueTangible Book ValueAccounts Payable

Bull vs Bear Balance

AI-generated sentiment analysis based on fundamental metrics and market conditions.

15%

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Forward Thesis

ARTL faces imminent dilutive financing or going-concern risk within 3-6 months

3-12mhigh

Cash of 600K vs quarterly burn ~2.1M from operations
Negative working capital of -3.3M TTM
Accounts payable of 3.0M signals unpaid obligations

End cash position TTM: 600K, down from 1.7MOperating cash flow TTM: -2.9MCurrent liabilities (4.0M) are 5.8x current assets (695K)

Valuation Context

Caveats

Public Strategies Rankings

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ARTL Fundamentals

Manufacturing → Chemical Manufacturing

Metric	Value	Industry Percentile
Market Cap	$5.1M	—
Enterprise Value	$5.18M	—
P/E Ratio	0.00	—
Total Revenue - TTM	$0	—
Earnings Per Share (diluted) - TTM	$-37.56	—
Operating Margin - TTM	0%	—
Net Margin - TTM	0%	—
Free Cash Flow - TTM	$-8.52M	—
Return on Common Equity - TTM	0%	—
Beta 5Y (Monthly)	unknown	—

ARTL Dividend History

No dividends

ARTL Stock Splits

4 stock splits

03/10/263:1 split

06/13/256:1 split

08/10/2215:1 split

06/21/198:1 split

ARTL SEC Filings

Filing Date	Report Date	Report Type	Filing Link
02/24/26	12/31/25	Unknown	0001640334-26-000368
11/12/25	09/30/25	10-Q	0001640334-25-002022
08/13/25	06/30/25	10-Q	0001640334-25-001429
05/13/25	03/31/25	10-Q	0001640334-25-000825
03/03/25	12/31/24	10-K	0001640334-25-000335
11/12/24	09/30/24	10-Q	0001640334-24-001677
08/13/24	06/30/24	10-Q	0001640334-24-001221
05/13/24	03/31/24	10-Q	0001640334-24-000757
03/25/24	12/31/23	10-K	0001640334-24-000473
11/13/23	09/30/23	10-Q	0001640334-23-002073
08/10/23	06/30/23	10-Q	0001640334-23-001504
05/11/23	03/31/23	10-Q	0001640334-23-000804
03/31/23	12/31/22	10-K	0001640334-23-000509
11/08/22	09/30/22	10-Q	0001640334-22-002363
08/09/22	06/30/22	10-Q	0001640334-22-001681
05/12/22	03/31/22	10-Q	0001640334-22-000949
12/31/21	12/31/21	10-KT	0001640334-22-000544
01/12/22	11/30/21	10-Q	0001640334-22-000060
11/29/21	08/31/21	10-K	0001640334-21-002983
07/12/21	05/31/21	10-Q	0001640334-21-001528
04/13/21	02/28/21	10-Q	0001640334-21-000874
01/14/21	11/30/20	10-Q	0001640334-21-000088
11/04/20	08/31/20	10-K	0001640334-20-002722
07/13/20	05/31/20	10-Q	0001640334-20-001749
04/13/20	02/29/20	10-Q	0001640334-20-000802
01/14/20	11/30/19	10-Q	0001640334-20-000071
11/25/19	08/31/19	10-K	0001640334-19-002443
07/15/19	05/31/19	10-Q	0001640334-19-001361
04/15/19	02/28/19	10-Q	0001640334-19-000608
01/14/19	11/30/18	10-Q	0001640334-19-000036
11/29/18	08/31/18	10-K	0001640334-18-002309
07/13/18	05/31/18	10-Q	0001640334-18-001368
04/16/18	02/28/18	10-Q	0001640334-18-000736
01/16/18	11/30/17	10-Q	0001640334-18-000106
11/29/17	08/31/17	10-K	0001640334-17-002551
07/21/17	05/31/17	10-Q	0001640334-17-001454
04/14/17	02/28/17	10-Q	0001640334-17-000697
05/14/18	02/28/17	10-Q/A	0001640334-18-000943
01/10/17	11/30/16	10-Q	0001640334-17-000027
11/29/16	08/31/16	10-K	0001640334-16-002136
07/05/16	05/31/16	10-Q	0001640334-16-001295
04/01/16	02/29/16	10-Q	0001640334-16-000908
01/14/16	11/30/15	10-Q	0001640334-16-000558
12/11/15	08/31/15	10-K	0001640334-15-000413
07/15/15	05/31/15	10-Q	0001557240-15-000518
04/14/15	02/28/15	10-Q	0001557240-15-000242
01/14/16	11/30/14	10-Q	0001640334-16-000558
12/11/15	08/31/14	10-K	0001640334-15-000413
07/15/15	05/31/14	10-Q	0001557240-15-000518
04/14/15	02/28/14	10-Q	0001557240-15-000242