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Arch Therapeutics announced its participation in the LD Micro Invitational XI event, with CEO Terrence W. Norchi and CFO Mike Abrams presenting via webcast on June 10, 2021, at 4:15 PM ET. The webcast can be accessed live and on-demand from the event's website. Arch Therapeutics focuses on innovative wound care and biosurgical solutions, specifically utilizing self-assembling barrier technology. Their commercial products include AC5 Advanced Wound System and AC5 Topical Hemostat, while investigational candidates are also in development.
Arch Therapeutics (OTCQB: ARTH) presented two clinical case reports on its AC5® Advanced Wound System at the 2021 Symposium on Advanced Wound Care, showcasing its effectiveness for chronic and non-healing wounds. One report received the prestigious 2021 Highest Scoring Poster Abstract designation in the Case Series/Study category. With FDA authorization, AC5 is commercially available, and its use resulted in notable healing in challenging cases, emphasizing significant commercialization opportunities for Arch. Over 7 million people in the U.S. suffer from chronic wounds, highlighting the market potential for AC5.
Arch Therapeutics Appoints New CFO
Arch Therapeutics, Inc. (OTCQB: ARTH) has announced the appointment of Michael S. Abrams as Chief Financial Officer, effective May 10, 2021. Mr. Abrams, with over 25 years of experience in financial leadership, will succeed Richard Davis, who will remain through a transition period until June 30, 2021. The leadership change aims to bolster Arch's growth in commercialization and R&D efforts. CEO Terrence Norchi expressed confidence in Abrams' leadership, while Davis is thanked for his seven years of contributions.
Arch Therapeutics (OTCQB: ARTH) announced two clinical case report abstracts on its AC5® Advanced Wound System will be presented at the 2021 Symposium on Advanced Wound Care from May 10-14, 2021. One abstract scored the highest in its category and qualifies for a podium presentation on May 11, showcasing rapid healing in complex chronic wounds. The AC5® Advanced Wound System is FDA-approved, and its use is supported by ongoing surgeon observations regarding effectiveness and cost-efficiency in wound care.
Arch Therapeutics (OTCQB: ARTH) has provided an update on its commercialization strategy for the AC5® Advanced Wound System. The company has engaged independent sales representatives to support this effort, with plans to enhance distribution channels, especially focusing on governmental facilities. Although initial revenue generation has been modest, Arch anticipates growth due to positive clinician feedback. The company will present new clinical data at the upcoming Symposium on Advanced Wound Care in May, further supporting its innovative self-assembling peptide technology.
Arch Therapeutics (OTCQB: ARTH) announced a corporate update on Dermal Sciences and BioSurgery devices. The company will present at the H.C. Wainwright Global Life Sciences Conference on March 9-10, 2021. CEO Terrence W. Norchi and CFO Richard Davis will present via webcast, starting at 7:00 A.M. EST on March 9. Attendees can access the live webcast and schedule meetings with management through provided links. Arch Therapeutics is focused on innovative wound care and hemostasis technologies, including the AC5® Advanced Wound System and other products.
Arch Therapeutics (OTCQB: ARTH) has announced the closure of a private placement, securing $6.9 million from the sale of 43,125,004 shares and warrants. The offering priced at $0.16 per share, allowing investors to purchase shares at an exercise price of $0.17. The funds will be directed towards accelerating the commercialization of the AC5® Advanced Wound System, with the company recently starting commercial sales and partnering with Buffalo Supply for government distribution. CEO Terrence W. Norchi emphasized this pivotal year for Arch, anticipating challenges but expressing confidence in their wound care solutions.
Arch Therapeutics, Inc. (OTCQB: ARTH) announced a private placement to raise approximately $6.9 million by issuing 43,125,002 shares of common stock and warrants for 32,343,751 shares. Each unit will be sold at $0.16 per share, with warrants having an exercise price of $0.17. The offering is expected to close on or about February 17, 2021. Proceeds will be used for general corporate purposes, including capital expenditures. H.C. Wainwright & Co. is the exclusive placement agent for this transaction.
Arch Therapeutics (OTCQB:ARTH) announced its AC5 Advanced Wound System's potential through three clinical case reports and two animal studies, which will be presented at the 2020 Symposium on Advanced Wound Care from November 4-6, 2020. The AC5 Advanced Wound System recently received FDA marketing authorization, and a comparable product received a CE mark in Europe. Clinical reports focus on managing complex wounds, asserting the system's efficacy during the ongoing pandemic.