Artelo Biosciences (NASDAQ:ARTL) held its 2026 Annual Meeting of Stockholders on July 17, with shareholders approving all three proposals presented during the formal portion of the meeting, according to remarks by President and Chief Executive Officer Gregory Gorgas.
Gorgas presided over the virtual meeting and said the company had established a quorum for all matters presented. He noted that the meeting was held in accordance with the company’s bylaws and Nevada law. Also present virtually were directors Connie Matsui, Steve Kelly and Dr. Greg Reyes; Joe Longoria of auditor MaloneBailey LLP; legal counsel Rob Wernly of Wilson Sonsini Goodrich & Rosati; and Tracy Oates of Broadridge Financial Solutions, who served as Inspector of Election.
Shareholders Re-Elect Three Directors
Gorgas said the board nominated Gregory R. Reyes, M.D., Ph.D., Tamara A. Favorito and Gregory D. Gorgas, all current directors, for re-election. The board recommended that shareholders vote in favor of each nominee.
After the polls closed, Gorgas said the Inspector of Election had informed him, based on a preliminary report of proxies and votes, that Reyes, Favorito and Gorgas had each been elected as Class III directors.
Authorized Share Increase Approved
Shareholders also approved an amendment to the company’s articles of incorporation to increase the authorized number of shares of common stock from 166,666,667 to 500 million.
The proposal was discussed in the company’s proxy statement, and Gorgas said the board recommended approval of the amendment. The preliminary voting results announced during the meeting showed the measure had passed.
Nasdaq-Related Share Issuance Proposal Passes
The final proposal concerned approval, for purposes of complying with Nasdaq Listing Rule 5635(d), of the issuance of more than 20% of the company’s issued and outstanding common stock pursuant to its equity purchase agreement with Square Gate Capital Master Fund, LLC – Series 5.
Gorgas said the proposal was discussed in amendment number one to the proxy statement and that the board recommended a vote in favor. Based on the preliminary results, shareholders approved the issuance of more than 20% of the company’s issued and outstanding common stock associated with the Square Gate Capital agreement.
No Stockholder Questions Submitted
Following the formal business portion of the meeting, Gorgas opened a question-and-answer session for appropriate stockholder questions submitted under the meeting’s rules of conduct. He said there were no questions to address.
Gorgas said a definitive report of voting results would be filed with the minutes of the meeting, and final results would also be reported in the company’s filings with the Securities and Exchange Commission.
“We want to thank all of you for attending today’s meeting and for the interest you have and shown in the affairs of Artelo Biosciences,” Gorgas said in closing. “We very much appreciate your attendance, and as always, thank you for your support.”
About Artelo Biosciences (NASDAQ:ARTL)
Artelo Biosciences, Inc is a clinical-stage biopharmaceutical company focused on the development of novel small-molecule therapies for pain, inflammation, ocular and cardiometabolic disorders. The company leverages a proprietary drug delivery and targeting platform designed to enhance the safety and efficacy profiles of well-characterized active pharmaceutical ingredients. Artelo’s approach is centered on repurposing and optimizing therapeutic molecules to address significant unmet medical needs, with particular emphasis on improving patient tolerability and clinical outcomes.
The company’s lead program, AB101, is an orally bioavailable ion channel modulator in development for neuropathic pain conditions including post-herpetic neuralgia.
