Artelo Bioscience (NASDAQ: ARTL) announced Tuesday morning its research collaboration with Trinity College Dublin, investigating ART27.13 to treat Cancer Cachexia.
Artelo shares surged 72% premarket and are now trading around the $1.29 level, a 24% increase from Monday’s close.
There has been a lot of talk on social media about the company, with rumours on a potential short squeeze affecting its share price. They were recently upgraded from hold to a buy at Maxim.
The company will be researching with Trinity College Dublin to investigate preclinical human cancer cachexia models, a wasting syndrome that affects up to 80% of cancer patients. They will work with Artelo’s peripherally restricted cannabinoid receptor agonist, ART27.13, in preclinical models of human cancer cachexia.
The company is now advancing the ART27.13 program with the Cancer Appetite Recovery Study, a Phase 1b/2a study in patients with cancer-related anorexia.
“I am excited to partner with Artelo to expand the research around ART27.13 for the treatment of cachexia” stated Dr Richard K. Porter, Head of the Trinity team.
“I believe this is a very important and exciting area of research as there is the potential of a significant impact on patients’ quality of life during a very vulnerable time in their lives”
Gregory Gorgas, Artelo's President and CEO, commented, “We are delighted to enter into a collaboration with Trinity College Dublin, as this research will be key to advancing our understanding of ART27.13’s breadth of activity and helping us guide future clinical development for this program.”