Artelo Biosciences Inc. (NASDAQ: ARTL) announced expansion into the glaucoma treatment market through a fully funded investigator-sponsored clinical study. The Bristol, Tennessee-based biotechnology company will advance its lead compound ART27.13 into ophthalmology applications at no direct cost to shareholders.

The glaucoma study will be conducted through partnerships with Glaucoma UK, the HSC R&D Division, and Queen's University Belfast. Professor Augusto Azuara-Blanco at Queen's University Belfast and the Northern Ireland Clinical Trials Unit will sponsor the trial, while Artelo retains full data rights.

ART27.13, originally developed by AstraZeneca, has been evaluated in seven clinical studies involving more than 280 participants. The compound demonstrated a 6.4% weight gain versus a 5.4% weight loss in the placebo arm during Phase 2 trials for cancer anorexia cachexia, according to data presented at the International Conference on Sarcopenia, Cachexia & Wasting Disorders.

The company operates three clinical programs spanning oncology support, neuropathic pain, and central nervous system disorders. Its second compound, ART26.12, completed Phase 1 trials in 2025 with no serious adverse events reported across dose levels up to 1,050 mg. Multiple ascending dose enrollment for this FABP5 inhibitor is planned for the third quarter of 2026.

Artelo's third program, ART12.11, is a CBD cocrystal formulation that received favorable regulatory guidance from the UK's MHRA for streamlined Phase 1 development. First-in-human studies are scheduled for the first half of 2026.

The company reported receiving unsolicited partnership inquiries from pharmaceutical companies following positive Phase 2 results, according to its third quarter 2025 business update. Artelo holds European patent protection for ART27.13 extending through December 2041.

The company completed a 1-for-3 reverse stock split in March 2026 and secured an equity access facility of up to $25 million, expandable to $50 million. Artelo reported $5.4 million in research and development spending for fiscal 2025 while maintaining a seven-employee operating structure.