(RTTNews) - Artelo Biosciences, Inc. (ARTL), a clinical-stage pharmaceutical company, said it has received a Notice of Allowance from the U.S. Patent and Trademark Office (USPTO) for its application covering the intended commercial formulation of ART27.13 in development for cancer-related anorexia and glaucoma or ocular hypertension.
Artelo Biosciences focuses on modulating lipid-signalling pathways to develop treatments for people living with cancer, pain, dermatologic, or neurological conditions.
ART27.13 is the company's peripherally selective cannabinoid agonist currently being evaluated in the phase 2 CAReS trial for cancer-related anorexia and the phase 2 DREAM study in patients with glaucoma or ocular hypertension.
The allowed claims protect compositions of ART27.13 dispersed in polyethylene glycol, including the company's intended commercial formulation.
Artelo Biosciences said that, if granted, the patent is expected to extend patent protection for ART27.13 through 2041. The issuance marks a milestone in Artelo's global intellectual property strategy.
"As ART27.13 advances in multiple Phase 2 studies, we believe protecting the intended commercial formulation is an important step in building value around the program and preserving opportunities across multiple indications," said Gregory D. Gorgas, President and Chief Executive Officer of Artelo Biosciences.
Notably, for the phase 2 DREAM study in patients with glaucoma or ocular hypertension, initial results are anticipated in the fourth quarter of 2026.
ARTL has traded between $0.69 and $31.65 over the last year. ARTL closed Monday's trade at $0.72, down 8.76%.
ARTL is currently up 3.02% at $0.74 in the overnight market.
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