Arch Therapeutics Inc (OTCMKTS: ARTH) is having a relatively rough start to the trading session this morning. In most cases, when we see dips like this in the market, there’s a good reason for it. However, in the case of ARTH, the exact opposite is true. In fact, the company released positive news. Today, we’ll talk about:
- The news that was released;
- what we’re seeing for ARTH; and
- whether or not you should consider buying the dip.
ARTH Announces Clinical Update
As mentioned above, Arch Therapeutics released positive news this monring. In a press release issued this morning, the company announced that it has completed enrollment for its human skin sensitization study and that applications of the company’s AC5™ Topical Gel are currently underway for all subjects. In the release, ARTH said that it is expecting for the study to be concluded during the third quarter of this year. In fact, the company is expecting to submit its 510(k) for the topical gell by the end of the third quarter of 2018. In a statement, Terrence W. Norchi, MD, President and CEO at ARTH, had the following to offer:
This study is an important component of our plans to address the request by the Food and Drug Administration (FDA or “the Agency”). The Agency had requested further evidence beyond that which was previously supplied to support that AC5 does not cause sensitization in humans. We are pleased that enrollment was completed within the expected timeframe and that the study volunteers have entered the repeat dosing phase.
We expect the future anticipated 510(k) notification to contain both the information previously reviewed by the FDA, including the favorable results from a required animal test for sensitization, and the additional data from this human sensitization study. We believe that there are no other material items to address with the Agency.
What We’re Seeing From The Stock
As mentioned above, Arch Therapeutics is dipping in the market this morning, which considering the positive news released this morning, could represent a strong opportunity to get in at a decent discount. Of course, our partners at Trade Ideas were the first to alert us to the declines. Currently (10:45), ARCH is trading at $0.45 per share after a loss of $0.021 per share or 4.36% thus far today.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving foward, the CNA Finance team will continue to keep a close eye on ARTH. In particular, we’re interested in following the story surrounding the company’s work to bring AC5™ Topical Gel to market, especially considering that multiple catalysts are likely just around the corner. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!