Arch Therapeutics Inc (OTCMKTS:ARTH) Gains More Altitude
tags: ARTH
This year has went rather well for the stock of Arch Therapeutics Inc (OTCMKTS:ARTH) with the company stock gaining a lot of altitude and managing to keep it. The volumes have also significantly increased compared to the first months of 2016 and the ticker is doing rather well.
The company is valued at more than $70 million, but has better financials than most pennystocks. A quick look at the report covering the quarterly period ended March 31 reveals the following numbers of prime interest.
- cash: $1.67 million
- current assets: $1.76 million
- current liabilities: $399 thousand
- revenues: ZERO
- net loss: $1.22 million
And while ARTH is doing fairly good, financial-wise, it might have some trouble before it manages to have a revenue-generating product. The company has expressed desire to pursue regulatory approval of its AC5 Surgical Hemostatic Device in both the EU and the US, which will not be an easy and will certainly require a lot of funds.
Still, ARTH managed to add more to its value in the past couple of sessions. After gaining another 13.32% in value yesterday we saw the ticker close at $0.66, while a total of 2.08 million traded shares generated a daily dollar volume of $1.31 million
The lack of news, however, might mean that the upward run will be hard to maintain and we already see ARTH 3.97% in the red in today’s session so far.
