Arch Therapeutics Inc. (OTCMKTS:ARTH)
Arch Therapeutics Inc. (OTCMKTS:ARTH) upward rally, that began in June, continued through Thursday’s trading session, propelling the stock to this year’s highs. The stock was up by 6.45% as investors reacted to the company’s 510(k) U.S Food and Drug Administration submission for their AC5 Topical Gel.
Arch Therapeutics Inc. (OTCMKTS:ARTH) stock is currently trading at $0.78 a share, levels last seen early in the year. Arch Therapeutics is closing in on its 52-week high of $0.80 as it continues to trade in a tight $0.74-$0.79 trading range. The stock faces immediate resistance at the $0.80 mark, above which it could rise to last year’s highs of $0.88.
Arch Therapeutics Inc. (OTCMKTS:ARTH) is a development stage company that specializes in the development of products for stopping bleeding and control leaking during surgery. The company develops products based on innovative based assembling barrier technology platform. Its development stage product candidate’s drugs include AC5 Topical Gel and AC5 Surgical Hemostatic Device.
AC5 Topical Gel
The AC5 Topical gel is a liquid spray designed to act as a physical barrier on tissues thus help seal wounds and stop leaking. Early trials have given indications that the Gel can be relied upon to stop bleeding and promote hemostasis.
The 510k FDA application, if approved, would pave way for AC5 to be used for external wounds. It would also make an important milestone on Arch Therapeutics Inc. (OTCMKTS:ARTH) push as it seeks to gain regulatory approval. The company plans to pursue regulatory approval for internal use of the gel through the PMA process
“This 510(k) submission, which incorporates recommendations provided by the FDA during pre-submission communications, is the culmination of the collective effort and success of our team in completing important biocompatibility, toxicology, preclinical, and clinical studies,” said Terrence W. Norchi, President, and CEO of Arch Therapeutics Inc. (OTCMKTS:ARTH).
Arch Therapeutics Inc. (OTCMKTS:ARTH) is currently working on scaling up production of AC5 in preparation of making the product available for sales in the second half of 2018. The company is analyzing a number of commercialization options in pursuit of the best option for mass market. In Europe, the company is working with its supply chain partners as it seeks to meet obligations needed for the filling of a CE mark.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.