Artelo Biosciences Q3 EPS $(0.83) Misses $(0.65) Estimate; $12.9 M In Cash And Investments
Portfolio Pulse from Benzinga Newsdesk
Artelo Biosciences (NASDAQ:ARTL) reported a Q3 EPS loss of $(0.83), which was below the consensus estimate of $(0.65) by 27.69%. The reported loss represents a slight increase from the $(0.82) per share loss in the same quarter of the previous year. The company also reported having $12.9 million in cash and investments.
November 13, 2023 | 1:30 pm
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Artelo Biosciences reported a larger than expected quarterly loss and a slight increase in losses compared to the same period last year, with $12.9 million in cash and investments.
The reported earnings miss is likely to negatively impact investor sentiment in the short term, as the loss was significantly larger than expected. The slight increase in year-over-year losses may also contribute to a bearish outlook. However, the company's cash and investments provide some financial stability, which may mitigate the negative impact to some extent.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100