Arch Therapeutics Inc (OTCMKTS:ARTH) Moves Further Up
tags: ARTH
Arch Therapeutics Inc (OTCMKTS:ARTH) has been doing pretty well since the beginning of the year. First, it managed to climb above the 40 cent per share mark in the beginning of April and then it managed to keep most of its gains.
The ticker embarked on another upward run in the middle of last month for no apparent reason. There were no press release, nor was there any promotional effort going on. The stock of ARTH moved by itself and managed to gain a lot of altitude. This is rather strange, but the company is still pretty decent financial-wise.
- cash: $1.67 million
- current assets: $1.76 million
- current liabilities: $399 thousand
- revenues: ZERO
- net loss: $1.22 million
ARTH is doing fairly well when it comes to financials, but it is still far from generating revenues. Its AC5 Surgical Hemostatic Device still has to get regulatory approval and the company has stated that it will try to get it in both the US and the EU, which will be a costly endeavor.
This, however, hasn’t stopped ARTH recently and it returned to climbing in the first session for this week. The ticker gained 7.87% yesterday and closed at $0.68, while a total of 1.7 million shares that changed their owners generated $1.11 million in daily dollar volume.
The company stock is still going up today, but that certainly doesn’t mean that you should skip doing your due diligence and weighing out the risks before putting any money on the line.
