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April 13 , 2021 Artelo BIOSCIENCES Artelo Biosciences Reports Second Quarter Fiscal 2021 Financial Results and Provides Business Update Recently Commenced Patient Enrollment in Phase 1/2 CARES Study of ART27.13 in the UK Reported Positive Pre - Clinical Data Associated with Artelo's Proprietary CBD Cocrystal $ 11.2 Million of Cash and Cash Equivalents and Marketable Securities as of February 28 , 2021 LA JOLLA , Calif . , April 13 , 2021 ( GLOBE NEWSWIRE ) Artelo Biosciences , Inc. ( NASDAQ : ARTL ) , a clinical stage biopharmaceutical company focused on the development of therapeutics that target lipid - signaling pathways , including the endocannabinoid system , today reported financial and operating results for the second quarter of its fiscal year ended February 28 , 2021 and provided a business update . " We are pleased to report continued clinical and corporate progress during the second quarter of 2021 , " stated Gregory D. Gorgas , President and Chief Executive Officer of Artelo Biosciences . " Most recently , we dosed the first patient in our Phase 1/2 Cancer Appetite Recovery Study ( CARES ) of ART27.13 , marking a major milestone for Artelo . We believe ART27.13 has the potential to become a standard of care treatment for cancer anorexia , a wasting syndrome associated with significant weight loss that affects more than 60 % of all cancer patients and is a leading cause of mortality in this population . Our goal is to complete the study within approximately twelve months , and we anticipate announcing meaningful clinical updates as we advance through the trial . " During the quarter , the Company announced positive pre - clinical data associated with its proprietary CBD cocrystal , ART12.11 , showing potential pharmacodynamic interactions of its components , cannabidiol ( CBD ) and tetramethylpyrazine ( TMP ) , in cell - based models of cancer . The study observed enhanced effects between CBD and TMP versus either compound alone , reinforcing Artelo's CBD cocrystal's potential for improved efficacy and differentiation from other forms of CBD . The full data is expected to be disclosed at a future scientific conference . " We ended the quarter with approximately $ 11.2 million of cash and cash equivalents , and marketable securities , which provides us more than sufficient runway to execute on a number of key upcoming milestones that we believe have the potential to drive significant value for shareholders , " added Randy Schreckhise , Vice President Finance and Operations . " At the same time , we continue to expand our senior management and board of directors with key additions , as well as enhance our intellectual property protection with additional