Nasdaq issuer (Nasdaq: ARTL) ends ATM stock program capacity

Rhea-AI Filing Summary

The company filed a prospectus supplement under Rule 424(b)(5) to update its at-the-market common stock offering program with R.F. Lafferty & Co., Inc. The supplement reduces the maximum aggregate gross sales price of common stock that may be offered under the sales agreement from this point forward to $0, effectively suspending further sales under the existing ATM prospectus. The company previously registered up to $6,500,000 of common stock for this program, which was reduced to $3,451,527 on September 4, 2025, and all $451,527 of common stock that was available for sale under the amended ATM prospectus has now been sold. As of September 29, 2025, the aggregate market value of outstanding common stock held by non-affiliates was $18,399,248, based on 1,555,493 shares outstanding and a Nasdaq closing price of $11.86 on July 31, 2025.

Filed Pursuant to Rule 424(b)(5)

Registration No. 333-273153

 PROSPECTUS SUPPLEMENT

(To Prospectus dated July 14, 2023)

Common Stock 

This prospectus supplement amends and supplements the information in the prospectus supplement, dated July 18, 2025, as supplemented by that certain prospectus supplement dated September 4, 2025 (as so supplemented, the “ATM Prospectus”), relating to the offer and sale of up to $3,451,527 shares of our common stock, $0.001 par value per share (“Common Stock”), pursuant to the At the Market Offering Agreement between us and R.F. Lafferty & Co., Inc., as exclusive sales agent (who we refer to herein as “Lafferty” or the “Sales Agent”), dated July 18, 2025 (the “Sales Agreement”). This prospectus supplement should be read in conjunction with the ATM Prospectus and the base prospectus, dated July 7, 2023 (the “Base Prospectus”), and is qualified by reference thereto, except to the extent that the information herein amends or supersedes the information contained in the ATM Prospectus or the Base Prospectus. This prospectus supplement is not complete without and may only be delivered or utilized in connection with the ATM Prospectus and the Base Prospectus and any future amendments or supplements thereto.

The Common Stock is listed on The Nasdaq Capital Market tier of The Nasdaq Stock Market LLC (“Nasdaq”) under the symbol “ARTL.” As of September 29, 2025, the last reported sales price of the Common Stock on Nasdaq was $5.85.

We are filing this prospectus supplement to supplement and amend, as of September 30, 2025, the ATM Prospectus and the Base Prospectus, to reduce the maximum aggregate gross sales price of our Common Stock that may be offered, issued, and sold under the Sales Agreement from and after the date hereof to $0 (the “ATM Offering Size Reduction”), as the previously referenced $451,527 of Common Stock has already been sold. Under the ATM Prospectus, we initially registered up to $6,500,000 of our Common Stock for offer and sale pursuant to the Sales Agreement, which amount was then reduced to $3,451,527 on September 4, 2025. As of the date of the filing of this prospectus supplement, we have sold all $451,527 of Common Stock that was available for sale under the ATM Prospectus, and accordingly, no further shares may be offered or sold under the ATM Prospectus unless and until we file another prospectus supplement.

The purpose of this prospectus supplement is to update the ATM Prospectus to reflect the ATM Offering Size Reduction, suspend sales under the Sales Agreement, and to clarify that no further shares may be offered or sold under the ATM Prospectus unless and until we file another prospectus supplement. Except as modified by this prospectus supplement, the terms of the ATM offering remain unchanged, and the Sales Agreement remains in full force and effect.

The aggregate market value of our outstanding shares of Common Stock held by non-affiliates as of September 29, 2025, is $18,399,248, based on 1,555,493 shares of Common Stock outstanding, of which 1,551,370 are held by non-affiliates, and a closing price on Nasdaq of $11.86 on July 31, 2025, which is within 60 days of the date of this prospectus supplement. We are providing this information in accordance with General Instruction I.B.6. of Form S-3. However, as described elsewhere in this prospectus supplement, we have sold all $451,527 of Common Stock that was available for sale under the ATM Prospectus, as supplemented hereby, and as a result, no further shares may be offered or sold under this prospectus supplement unless and until we file another prospectus supplement.

Investing in our shares of Common Stock involves a high degree of risk and uncertainty. See “Risk Factors” beginning on page S-9 of the ATM Prospectus and the other documents that are incorporated by reference in the ATM Prospectus and the accompanying base prospectus.

NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR PASSED UPON THE ADEQUACY OR ACCURACY OF THIS PROSPECTUS SUPPLEMENT, THE PRIOR PROSPECTUS SUPPLEMENTS OR THE ACCOMPANYING PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

R.F. Lafferty & Co., Inc.

______________

The date of this prospectus supplement is September 30, 2025.

FAQ

What change does ARTL make to its ATM common stock offering in this prospectus supplement?

The company updates its at-the-market common stock offering program to reduce the maximum aggregate gross sales price that may be offered under the sales agreement to $0, which suspends further sales under the current ATM prospectus unless another prospectus supplement is filed.

How much common stock was originally registered under ARTL's ATM program?

The company initially registered up to $6,500,000 of its common stock for offer and sale under the at-the-market program, which was later reduced to $3,451,527 on September 4, 2025.

How much common stock has been sold under ARTL's amended ATM prospectus?

The filing states that the company has sold all $451,527 of common stock that was available for sale under the amended ATM prospectus as of the date of this prospectus supplement.

Can ARTL sell additional shares under the current ATM prospectus after this supplement?

No. The supplement clarifies that no further shares may be offered or sold under the existing ATM prospectus unless and until the company files another prospectus supplement.

What is the market value of ARTL common stock held by non-affiliates?

The aggregate market value of outstanding common stock held by non-affiliates was $18,399,248 as of September 29, 2025, based on 1,555,493 shares outstanding, of which 1,551,370 were held by non-affiliates, and a Nasdaq closing price of $11.86 on July 31, 2025.

On which exchange is ARTL common stock listed and under what symbol?

The company’s common stock is listed on the Nasdaq Capital Market tier of The Nasdaq Stock Market LLC under the trading symbol "ARTL".

Does the sales agreement with R.F. Lafferty & Co., Inc. remain in effect for ARTL?

Yes. The filing states that, except for the reduction of the ATM offering size and suspension of sales under the current prospectus, the terms of the ATM offering remain unchanged and the Sales Agreement remains in full force and effect.