Shares of Artelo Biosciences, Inc. (ARTL) jumped after the company announced a fully-funded clinical study agreement to evaluate its drug candidate in glaucoma patients.
The stock is currently trading at $6.36, up $1.51 or 31.14%, on the Nasdaq. It opened at $6.23 after closing the previous session at $4.85. The stock has traded between $3.15 and $85.80 over the past 52 weeks.
Artelo Biosciences said it has entered into a definitive investigator-initiated study agreement with the Belfast Health and Social Care Trust to evaluate ART27.13, its synthetic cannabinoid, in patients with glaucoma or ocular hypertension.
The study is fully funded by third parties, including Glaucoma UK and the HSC R&D Division, and will assess the drug's ability to reduce intraocular pressure, a key factor in glaucoma progression.
The company said patient enrollment is expected to begin in the second quarter of 2026, with ART27.13 being administered orally during the trial.
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