Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Currently extending maturity of financing until a new exchange listing (July). $4M market cap for the last decade. Commercial since 2019
Inventory - 88% of assets; 3-mo revenue of $16K, increase of SG&A of $43K
Waiting for revenue numbers instead of conference presentations. Expect to have major inventory write-off in the not so distant future. Exec comp will probably exceed R&D and sales expenses combined.
Report of eVNS in vivo trial for TBI is GOOD NEWS. TBI treatment is surgery, with 25% or more mortality within 30 days of procedure. Survivors often have post-op neurological deficit, with no current effective treatment available. eVNS can be post-op therapy. Cost of treating TBI can go into mid-6 figures, so price sensitivity for a device isn't an issue. Problem will be to identify sub-groups that will be responsive and conducting long follow up clinical trials. Trauma trials are difficult to do well. Capital intensive and long, but good bet for eVNS technology. TBI treatment would probably be Class III device, depending on claims. Better than head aches.
3 years post FDA clearance & TN tries a sales force.
For "outside investors", the present is grim and the future will be worse. ECOR founders & insiders will try to recapitalize company, award themselves post recap options & restricted stock. Early investors will be lucky to get $0.01 on their investment dollar.
22.3% share price decline since reverse split. Insiders might buy if price declines after earnings call to support price.
South Africa GDP per capita - $7,000US. From my experience, not a market to write home about.
28% decline of share price since Jan 31. Financial engineering can keep share price above $1 for only so long. Business success is required. Maybe ECOR will try loading distribution channels to generate revenues. .
Market cap falls another 15% on news of reverse split. Financial engineering is not a substitute for business success. Insiders benefit with new options after split.
Market Cap $4.1M & falling.
Market cap has fallen from $180M in 2018 to $26.6M in 2023. Reverse split will allow for higher share price & may facilitate another raise to keep doors open. But who will buy? ECOR is saddled with a history of no performance and a current product focus (head ache & pain) that doesn't make sense. Founders on board inhibit fresh thinking. PTSS MIGHT be better, but probably not the home run ball needed to capture attention. Playing in Class II electric stim technology means going without barriers to entry. DTC marketing is beyond capacity of management & budget. Quo vadis?
Forget share price; market cap declined to under $6M since reverse split. Share price in current range may help raise more funds. Price seemingly supported for the moment by careful trading by key holders & broker dealer.
TN might not know how to run a legit MedTech, but his mutual fund background helps in figuring out how to reposition ARTH as something other than a scam.
Sad story. A useful & potentially valuable technology for serious medical applications was misdirected into headache treatment as a result of strategic business incompetence. The result is several years of business failure & loss of shareholder value. That failure is now being compounded by a push into DTC sector in which ECOR lacks strengths for success. ECOR should go private & regroup. At least execs are getting paid.
Will market cap decline to level of annual revenues?
Previously announced accounting change reduces std cost calculation, increases gross margin, makes it difficult to compare operating results vs PY. Results are poor, would look worse without change
Send written questions to CEO Dan Goldberger prior to Dec 2 annual meeting in order to pose real questions. Share questions on Board.
Key questions to ask yourself: (1) Does AC5 provide a significant clinical benefit that other wound dressings don't provide? Answer appears to be "no". (2) Is AC5 easier for nurses/clinicians to use than existing alternatives? Answer appears to be "no". (3) Can AC5 be used by lay people/care givers, or do they need special training? If the answer is "yes", this is a problem. Also, keep in mind that all peptide products are "self assembling". AC5 appears to be a "particular method" for accomplishing clinically "the same old thing".
AC5 has been commercial in US & Europe for almost 3 years & there has been no demand. AC5 is one of many products that accomplish the same results, though by different methods. Without a history of building revenues, AC5 is not a target for acquisition by a Strategic. Patents & technology have to produce a winner in the market for M&A event.. Symposia presentations in this case are meaningless window dressing & ARTH remains a zombie company.
You must be kidding.
Announced virtual annual meeting. Reverse split, and then later dilution to raise cash for negative operations, with no new plan, no stated break even point. What's not to like?
After the 300:1 reverse split, additional shares are now available! Also, shareholders get a say on executive comp every 3rd year.
Snow Owl's comments make sense in most cases. In this case, shipping free product & billing if the provider is reimbursed makes sense for an inventory that is on the verge of expiring. Better to ship product than to put it into the dumpster.
Stench of past puffery lingers.
Fundamentals are nonexistent, AC5 technology is nonstarter, old hat. XO group is lighter than lightweight. Move to new exchange allows 'fresh start' image with help of agency. Payday & commissions keep coming.
2.75 years after receiving 510(k) and publicly positioning AC5 to investors as a hemostat & sealant (Class III devices - would be illegal to promote AC5 as such to MD's), TN states that ARTH is now chasing podiatrists in the chronic wound care market. Another red herring to deflect investor lawsuits.
Reverse split is not insane. Carefully designed to keep game / XO compensation/ Maxim fees going. Insane only for legitimate investors & traders; accomplishes objectives for insiders.
Correct. ARTH is the last public hurrah for TN.
Maxim Group will not let the issue the issue disappear. It made $280K + warrants in the last round. Too lucrative to let go.
No one wants AC5 and now inventory is expiring.
Cavet emptor - Initial 510K in April 2017. Miniscule growth since then by pursuing a failing product market strategy. At this rate, ECOR will exhaust cash runway prior to breakeven. Management is silent.
1st - reduce quorum for annual meeting; 2nd - give Board sole right for reverse stock split (100-200:1); 3rd - dilute again, to raise more $; 4th - shield XO compensation from scrutiny. Nice agenda.
Was waiting for annual meeting, which ECOR seems to be trying to avoid until it has good news. CEO did say at conference that ECOR has sufficient financial runway to turn cash positive. Facts seem to dispute that.
Price target based on what? Underwriter hype? CEO said ECOR has plenty of runway to achieve cash positive status. When? Waiting for annual meeting to pose questions.
Risky accounting of COGS improves current results. Cash burn continues.
Risky accounting of COGS improves current results. Cash burn continues.
Annual meeting this year?
Mkt cap is below many pre-revenue MedTech, years post FDA 510K.
$3.5M is inadequate to change fate of ARTH, only continuing G&A expense.