Arch Therapeutics Inc (OTCMKTS:ARTH) shares were down 8.82% to $0.62 on Monday and flat in after-hours trading. The company has a market cap of $83.21 million at 134.21 million shares outstanding. Share prices have been trading in a 52-week range of $0.16 to $0.94.
Arch Therapeutics is a life science medical device company that is focused on developing an approach for the cessation of bleeding and control of fluid leakage during surgery and trauma care. Its technology is based on a self-assembling peptide that creates a physical, mechanical barrier, which could be applied to seal organs or wounds that are leaking blood and other fluids. Its products are still in pre-clinical development stage.
In a recent update, Arch Therapeutics shared that it was able to meet the primary endpoints in a clinical study for the AC5 Topical Hemostatic Device. This single-blind prospective clinical study was conducted on skin lesion patients with bleeding wounds, marking the device’s first study on humans.
The primary endpoint was safety throughout the surgical procedure and until the end of a 30-day follow-up period post procedure. The secondary endpoint was performance as assessed by time to hemostasis.
As we had anticipated, these top-line data support that AC5 was safe and performed as expected in the patients enrolled in this study throughout the completion of the patient assessments post-treatment and as supported in the subsequent statistical analysis,” remarked Terrence Norchi, CEO of Arch Therapeutics.
He added that these clinical study results mark a significant milestone in their product development before they can further advance their self-assembling peptide technology platform for other applications and additional clinical studies.
These results demonstrate significant improvement in efficacy without compromising patient safety. We believe that AC5 represents a unique technology that will provide both rapid and sustained hemostasis and important differentiable clinical benefits,” concluded Norchi.
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