India, June 30 -- Shares of Artelo Biosciences, Inc. (ARTL) surged over 187% on Monday morning after the clinical-stage pharmaceutical company announced favorable results from its first-in-human study evaluating ART26.12, a novel inhibitor of Fatty Acid Binding Protein 5 (FABP5).
ARTL is currently trading at $19.46, up $12.68 or 187.02%, on a large volume of 13 million shares, above the average volume of 72 thousand, on the Nasdaq. The stock opened its trading at $20.50 after closing Friday at $6.78. The stock has traded between $4.92 and $22.64 in the past 52-week period.
The company said the results affirm the promising safety and pharmacokinetic (PK) profile previously observed in preclinical studies.
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