Here's Dr. KSS's take on Norchi's presentation:
Dr. KSS MD PhD
CEO Terrence Norchi, MD, MBA, of $ARTH gave a thorough and current overview of operations. Because of a grant the company received for developing other self-assembling peptidomimetic agents, the company is now debt-free. He said Arch is on track for an EU device regulatory filing for the initial, external-use product, which is AC5.
He didn’t allude to having heard anything from the FDA about the AC5 submission here.
We have long called for $ARTH to show to the public the impressive animal hemostasis videos it has, ones which it was not permitted to show previously on advice of legal counsel, possibly because Arch at that time hadn’t proven it could mass produce for an affordable price the “magic” agents, such that it might appear Arch was wooing investors with false promises. Norchi showed three videos. In one, a porcine spleen is lacerated and begins freely oozing. Emanating from a 3 cc syringe with needle, AC5 is instilled into the wound and total time to hemostasis is about 9 seconds. In another video, AC5 encounters water on a glass slide and “gelatinizes.” In a third, AC5 provides clear hemostasis in a brain operative field.
Norchi said that a 46 patient trial is underway to evaluation the internal-use agent, and that ten of those patients will be anticoagulated prior to operative challenge. The eventual products after AC5 the company hopes to bring to market are tentatively being called AC5L and AC5H. I’m presuming one will be for internal/operative/mucus membrane use and the other to drive major wound healing. He did not hint at formula alterations.
Though it continues to sound as if the company is en route to partnering, he gave no details about this, about reverse splittting or about possible uplisting of shares to NASDAQ.
The presentation was poised and professional, with considerable add-on material from the last time I heard him speak. The company has about $6M cash on hand.
Long $ARTH.
