Arch Therapeutics Inc (OTCMKTS:ARTH) Returns To Climbing
tags: ARTH
After a decent run up the charts in March we saw the stock of Arch Therapeutics Inc (OTCMKTS:ARTH) move sideways in the following months, maintaining almost all of the value that it had gained, while the daily volumes increased.
The company has kept quit for some time, but it has managed to start gaining value once again. By now its market cap has reached about $75 million, while the numbers contained in its financial report are fairly decent. Here is a quick example of some of the contents of ARTH’s balance sheet for the first quarter of this year.
- cash: $1.67 million
- current assets: $1.76 million
- current liabilities: $399 thousand
- revenues: ZERO
- net loss: $1.22 million
These numbers certainly look a lot better than those contained in the reports of many other pennystocks, however, ARTH has a long road ahead of it before it can even start producing revenues. The company is planning to pursue regulatory approval for its AC5 Surgical Hemostatic Device in both the US and the EU, which will be costly.
ARTH has managed to raise additional funds, but will have to issue a lot of shares at discounted prices, just like it has done so far. That, and the lack of new press releases, however, didn’t stop the ticker from returning to its upward run and gaining 12.23% in value yesterday, closing at 58 cents per share.
The ticker is holding a firm upward direction in today’s session as well, but you should still be sure to do your due diligence and weigh out the risks before putting any money on the line.
