Amidst the gloom and doom in the markets in recent days, there were still certain stock which managed to buck the trend and one of those was the Arch Therapeutics Inc (OTCMKTS:ARTH) stock. It had come into sharp focus among investors last Friday and had ended up with gains of as much as 16% for the day.
Trading Data
On Friday, ARTH stock moved up 15.79% to $0.0220 with more than 677.77K shares, compared to its average volume of 420.98K shares. The stock moved within a range of $0.0200 – 0.0240 after opening trade at $0.0220.
Arch Therapeutics Announces First Shipments of AC5® Advanced Wound System Under New Reimbursement Support Program
The company, which is involved in developing and marketing self-assembling biosurgical and wound care products, announced that it had shipped the first shipment of the product AC5 Advanced Wound System. It was shipped under the auspices of the reimbursement support program that Arch Therapeutics has put in place.
It was a major new milestone for the company in terms of its commercialization goals. The management at Arch Therapeutics believes that this move is going to provide significant support to the commercialization efforts with regards to AC5.
The company is looking to have the product in wound care centers and at doctors’ clinics. It should be noted that the United States Food and Drug Administration had in fact approved the product for the purpose of managing full and partial thickness wounds. It may be a good idea to add the Arch Therapeutics to your watch lists at this point.
Key Quote
“This is an exciting time for Arch and the launch of the reimbursement support program represents a huge step forward. Not only do CMS’s policy changes provide doctors with greater clarity regarding the potential billing and reimbursement pathway for their use of AC5 to treat patients, but the Program also supports our ability to work with payors to develop specific, appropriate AC5 reimbursement policies. Taken together, we expect they will further promote enhanced customer confidence in AC5. In September alone, we expect to invoice more than twice the total number of commercial units shipped year to date. While the total number of units remains relatively modest, we believe the foundation provided by the Program will drive the acceleration of near and long-term revenue growth opportunities for the Company,” stated Dan Yrigoyen, Vice President of Sales of Arch Therapeutics.
Technical Data
ARTH stock is trading below the 20-Day and 50-Day Moving averages of $0.03 and $0.03 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.07. The company has a total market capitalization of $5.50 million.
