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Monday, September 26, 2016 11:13:34 AM
Stock is up Friday and today because of this. He is flat out wrong. Anyone else know why?? Michael you have to do your homework !!
Dear New World Investor:
Last week, I reminded you that Arch Therapeutics (ARTH) is the current recovery trade, and it was just under my buy limit. I said the next driver for the stock would be signing a deal for European distribution, which should net them a milestone payment large enough to fund the FDA approval process.
In a presentation last week, Terry Norchi, the Chief Executive Officer with an MD and an MBA who used to run Putnam's healthcare fund, commenting on their cash position said: "We had about 12 months of runway and you'll hopefully hear more about that in the not-too-distant future."
CEOs, especially CEOs who have run a major healthcare fund and listened to hundreds of company presentations, do not throw out a tidbit like that unless a deal is imminent. Since Arch does not need cash soon, so it isn't a stock offering, this means to me that a European distribution deal is imminent. I immediately raised my buy limit.
GLTA,
Michael Murphy CFA
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