Artelo Biosciences, Inc.
ARTLHealthcare|Biotechnology|US
$1.91
-0.20 (-9.69%)
Tangible Book / Share
$9.82
Cash / Share
$13.93
Financials
Financial Snapshot
Market Cap
$6.7M
Enterprise Value
$2.5M
Revenue (TTM)
$0.00
Net Income (TTM)
-$12.7M
Cash & Investments
$4.2M
Net Cash
$4.1M
Free Cash Flow (TTM)
-$12.6M
Operating CF (TTM)
-$12.6M
Debt/Equity
0.01
Cash Runway & Burn Rate
Cash on Hand
$4.2M
Quarterly Burn
$3.2M
Monthly Burn
$1.1M
Est. Runway
~1.3 quarters
| Metric | Trend | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $3.6K | $572.8K | $337.4K | $4.4M | $2.1M | $10.1M | $17.5M | $10.4M | $2.3M | $600.0K | $4.2M | |
| Operating Cash Flow | -$18.5K | -$216.8K | -$1.6M | -$2.8M | -$4.3M | -$6.1M | -$8.0M | -$8.2M | -$8.3M | -$8.5M | -$12.6M | |
| Free Cash Flow | -$18.5K | -$216.8K | -$1.6M | -$4.3M | -$4.3M | -$6.1M | -$8.0M | -$8.2M | -$8.3M | -$8.5M | -$12.6M | |
| Capital Expenditure | $0.00 | $0.00 | -$845.00 | -$1.5M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Financing Cash Flow | $5.0K | $785.3K | $1.4M | $8.4M | $2.0M | $14.1M | $0.00 | $567.0K | $112.0K | $6.9M | $14.8M |
R&D Spending
R&D (TTM)
$3.8M
R&D Intensity
—
R&D Growth vs Prior
-29.6%
| Metric | Trend | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $0.00 | $0.00 | $1.2M | $1.1M | $1.9M | $2.8M | $4.3M | $5.7M | $6.0M | $5.4M | $3.8M | |
| SG&A | $29.7K | $232.8K | $1.1M | $2.1M | $2.8M | $4.6M | $6.0M | $4.2M | $4.1M | $6.0M | $7.3M |
Income Statement
| Metric | Trend | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D | $0.00 | $0.00 | $1.2M | $1.1M | $1.9M | $2.8M | $4.3M | $5.7M | $6.0M | $5.4M | $3.8M | |
| SG&A | $29.7K | $232.8K | $1.1M | $2.1M | $2.8M | $4.6M | $6.0M | $4.2M | $4.1M | $6.0M | $7.3M | |
| Operating Income | -$29.7K | -$232.8K | -$2.3M | -$3.2M | -$4.7M | -$7.4M | -$10.3M | -$9.9M | -$10.1M | -$11.4M | -$11.1M | |
| Interest Expense | $0.00 | $2.1K | $0.00 | $0.00 | $0.00 | $0.00 | $5.0K | $0.00 | $0.00 | $194.0K | $618.0K | |
| Pretax Income | -$29.7K | -$234.9K | -$2.3M | -$2.2M | -$4.7M | -$7.4M | -$10.1M | -$9.3M | -$9.8M | -$12.9M | -$12.7M | |
| Net Income | -$29.7K | -$234.9K | -$2.3M | -$2.2M | -$4.7M | -$7.4M | -$10.1M | -$9.3M | -$9.8M | -$12.9M | -$12.7M | |
| EPS (Diluted) | -1.41 | -9.69 | -82.55 | -45.00 | -56.48 | -17.91 | -10.47 | -9.42 | -9.15 | -49.23 | -74.28 | |
| EBITDA | $29.7K | -$232.8K | -$2.3M | -$4.2M | -$4.7M | -$7.4M | -$10.1M | -$9.3M | -$9.8M | -$12.5M | -$12.1M | |
| Shares Out. (M) | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.07 | 0.16 | 0.99 | 1.07 | 0.26 | 0.30 |
Balance Sheet
| Metric | Trend | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $3.6K | $572.8K | $337.4K | $4.4M | $2.1M | $6.6M | $6.9M | $2.8M | $2.3M | $600.0K | $4.2M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $3.4M | $10.6M | $7.6M | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | $3.6K | $574.3K | $396.4K | $4.4M | $2.3M | $10.3M | $18.3M | $11.0M | $2.6M | $695.0K | $4.4M | |
| Total Assets | $3.6K | $574.3K | $397.0K | $6.5M | $4.4M | $12.6M | $20.4M | $13.0M | $4.7M | $2.8M | $6.5M | |
| Total Current Liabilities | $17.4K | $29.4K | $532.0K | $1.0M | $501.0K | $526.0K | $998.0K | $1.3M | $1.8M | $4.0M | $1.5M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $17.4K | $29.4K | $532.0K | $1.0M | $501.0K | $593.0K | $1.0M | $1.3M | $1.8M | $4.1M | $1.5M | |
| Stockholders' Equity | -$13.8K | $544.8K | -$135.0K | $5.5M | $3.9M | $12.0M | $19.4M | $11.8M | $2.9M | -$1.3M | $5.0M | |
| Retained Earnings | -$60.2K | -$295.1K | -$2.6M | -$4.8M | -$9.5M | -$16.9M | -$31.0M | -$40.3M | -$50.1M | -$63.0M | -$68.4M |
Cash Flow Statement
| Metric | Trend | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$18.5K | -$216.8K | -$1.6M | -$2.8M | -$4.3M | -$6.1M | -$8.0M | -$8.2M | -$8.3M | -$8.5M | -$12.6M | |
| Capital Expenditure | $0.00 | $0.00 | -$845.00 | -$1.5M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Free Cash Flow | -$18.5K | -$216.8K | -$1.6M | -$4.3M | -$4.3M | -$6.1M | -$8.0M | -$8.2M | -$8.3M | -$8.5M | -$12.6M | |
| Investing Cash Flow | $0.00 | $0.00 | -$845.00 | -$1.5M | $0.00 | -$3.4M | $3.0M | $3.5M | $7.8M | -$62.0K | -$62.0K | |
| Financing Cash Flow | $5.0K | $785.3K | $1.4M | $8.4M | $2.0M | $14.1M | $0.00 | $567.0K | $112.0K | $6.9M | $14.8M | |
| Issuance of Stock | $0.00 | $772.7K | $1.4M | $8.4M | $2.0M | $14.1M | $0.00 | $567.0K | $112.0K | $6.3M | $15.5M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | -$108.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | — | — | — | — | $0.00 | $0.00 | — | $0.00 | $0.00 | $584.0K | -$802.0K | |
| Stock Based Comp. | $0.00 | $3.3K | $290.0K | $425.1K | $381.0K | $1.5M | $2.5M | $1.0M | $818.0K | $1.1M | $1.8M | |
| Net Change in Cash | -$13.4K | $569.2K | -$235.4K | $4.1M | -$2.3M | $4.5M | -$5.3M | -$4.1M | -$477.0K | -$1.7M | $2.1M |
Dilution Tracker
Shares outstanding grew 1806.7% over 5 years — significant dilution
Shares Outstanding
3M
5-Year Share Growth
+1806.7%
Stock Issuance (TTM)
$15.5M
| Metric | Trend | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.07 | 0.16 | 0.99 | 1.07 | 0.26 | 0.30 | |
| Change vs Prior % | — | 14.3% | 17.0% | 70.0% | 70.7% | 403.7% | 127.6% | 526.9% | 8.9% | -75.6% | 15.1% | |
| Stock Issuance | $0.00 | $772.7K | $1.4M | $8.4M | $2.0M | $14.1M | $0.00 | $567.0K | $112.0K | $6.3M | $15.5M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | -$108.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $0.00 | $3.3K | $290.0K | $425.1K | $381.0K | $1.5M | $2.5M | $1.0M | $818.0K | $1.1M | $1.8M |
Margins & Profitability
| Metric | Trend | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | 215.1% | -43.1% | 1736.3% | -39.8% | -120.1% | -61.8% | -52.0% | -79.0% | -343.9% | 1012.5% | -519.1% | |
| ROA % | -827.0% | -40.9% | -590.3% | -33.5% | -106.4% | -58.9% | -49.4% | -71.2% | -209.2% | -459.8% | -196.2% | |
| ROIC % | 215.1% | -42.7% | 1736.3% | -3.5% | -120.9% | -61.3% | -52.8% | -84.3% | -341.4% | 1919.9% | -219.4% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Income | -94.8% | -684.1% | -906.7% | -37.0% | -46.0% | -58.8% | 0.0% | 3.5% | -1.8% | -12.8% | |
| Net Income | -94.8% | -691.1% | -897.7% | 7.3% | -114.3% | -59.8% | 0.0% | 7.9% | -5.8% | -31.1% | |
| EPS (Diluted) | -95.8% | -587.2% | -752.0% | 45.5% | -25.5% | 68.3% | 0.0% | 10.0% | 2.9% | -438.1% | |
| Operating Cash Flow | -36.9% | -1072.7% | -642.6% | -73.5% | -55.7% | -41.3% | 0.0% | -2.5% | -1.7% | -2.0% | |
| Free Cash Flow | -36.9% | -1072.7% | -642.9% | -166.5% | -1.2% | -41.3% | 0.0% | -2.5% | -1.7% | -2.0% | |
| R&D Expense | 0.0% | 0.0% | 0.0% | -12.6% | 75.7% | 47.9% | 0.0% | 31.7% | 5.2% | -9.5% | |
| SG&A Expense | 94.8% | 684.1% | 369.7% | 93.6% | 30.7% | 66.3% | 0.0% | -29.0% | -2.8% | 45.3% | |
| Total Assets | -78.9% | 15896.5% | -30.9% | 1532.9% | -32.5% | 188.7% | 0.0% | -36.1% | -64.0% | -40.4% | |
| Book Value / Share | -191.2% | 3554.6% | -121.2% | 2460.4% | -58.6% | -38.3% | 0.0% | -90.3% | -77.7% | -282.7% | |
| Debt | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -63.5% | 352.2% | 551.9% | |
| Diluted Shares | 0.0% | 14.3% | 17.0% | 70.0% | 70.7% | 403.7% | 0.0% | 526.9% | 8.9% | -75.6% |
Valuation
P/E (TTM)At Loss
P/S0.00
P/B0.12
10Y Low / Med / High1.27 / 4.24 / 27.65
EV/EBITDAAt Loss
EV/Revenue0.00
P/FCFAt Loss
Intrinsic Value Models (per share)
Tangible Book / Share
$9.82
Net Current Assets / Share
$0.83
Graham Net-Net
$9.08
Cash / Share
$13.93
| Metric | Trend | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -2671.54 | -388.74 | -45.63 | -35.10 | -13.77 | -41.22 | -14.91 | -8.03 | -6.26 | -0.22 | -0.03 | |
| P/S Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | -955.27 | 27.65 | -130.23 | 2.31 | 2.75 | 4.24 | 1.27 | 6.35 | 21.52 | -2.26 | 0.12 | |
| EV/EBITDA | 443.89 | -62.26 | -7.36 | -1.95 | -1.82 | -5.99 | -1.76 | -7.73 | -6.03 | -0.24 | -0.21 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-17.71
Distress
Piotroski F-Score
2
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $0.00 | $49.3M | $99.6M |
| Net Income | -$23.2M | -$12.4M | $29.7M |
| EPS | $-88.56 | $-47.52 | $113.40 |
| # Analysts (EPS) | 1 | 1 | 1 |