Artelo Biosciencs ( ARTL Quick Quote ARTL - Free Report) were up 46% on Aug 16, during market hours, after the company announced positive initial data from a pre-clinical study for one of its novel inhibitors to fatty acid binding protein 5 (FABP5) in anxiety-related disorders.
The clinical-stage pharma company announced the publication of its pre-clinical data exhibiting the potential efficacy of one of its FABP inhibitor from the company’s FABP inhibitor platform in reducing anxiety behaviors in a part of the brain important in anxiety.
The data also highlights the potential of modulating the FABP5 system as a target to develop novel anxiolytics.
Additionally, the pre-clinical data demonstrated that the CB2 receptor, involved in the control of fear and anxiety in the brain, is now capable of being modulated by the FABP5 inhibitor.
Per the company, these results from the study can help in developing novel anxiety-inhibiting pharmacotherapies.
Shares of Artelo have plunged 18.3% so far this year compared with the
industry’s decline of 16%. Image Source: Zacks Investment Research
The company’s lead FABP5 inhibitor, ART26.12, is currently being developed as a potential treatment for chemotherapy-induced peripheral neuropathy, prostate cancer and breast cancer, pain, and post-traumatic stress disorder (PTSD).
In June, the company reported positive results from a pre-clinical study of its patented products candidate ART26.12, exhibiting that the candidate could prevent and treat chemotherapy-induced pain in patients without any sedating effects.
Artelo is also developing a cannabinoid agonist G protein-coupled receptor (GPCR) targeting synthetic small molecule program, ART27.13, as a potential treatment for anorexia associated with cancer in a phase Ib/IIa study.
Zacks Rank and Stocks to Consider
Artelo Biosciences currently carries a Zacks Rank #3 (Hold)
Some better-ranked stocks in the same sector include
Immunovant ( IMVT Quick Quote IMVT - Free Report) , Inozyme Pharma ( INZY Quick Quote INZY - Free Report) and Sutro Biopharma ( STRO Quick Quote STRO - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here .
Immunovant’s loss per share estimates for 2022 have narrowed from $1.66 to $1.64 in the past 30 days. The same for 2023 has narrowed from $1.94 to $1.75 in the same time frame. SGEN has returned 11.8% in the year-to-date period.
Earnings of Immunovant missed estimates in three of the trailing four quarters and beat the same on the remaining one occasion. The average negative earnings surprise for IMVT is 8.97%.
Inozyme Pharma’s loss estimates for 2022 have narrowed to $2.08 from a loss of $2.10 in the past 30 days. The loss estimates for 2023 also narrowed down from $2.01 per share to $1.95 per share in the same time frame.
INZY surpassed earnings in three of the trailing four quarters, missing the same in one. The average earnings surprise for Inozyme is 6.65%.
Sutro Biopharma’s loss per share estimates for 2022 have narrowed from $3.27 to $2.36 in the past 30 days. The same for 2023 has narrowed from $3.43 to $2.91 in the same time frame.
Earnings of Sutro missed estimates in two of the trailing four quarters, beat the same on one occasion and were in line with the estimate on the other remaining occasion. The average negative earnings surprise for STRO is 1.13%.