eClinical Technology and Industy News

Arch Therapeutics Provides Corporate Update

90-Day Report Card for Commercialization Effort

Excerpt from the Press Release:

FRAMINGHAM, Mass., Oct. 13, 2021 (GLOBE NEWSWIRE) — Arch Therapeutics, Inc. (OTCQB: ARTH) (“Arch” or the “Company”), a marketer and developer of novel self-assembling wound care and biosurgical devices, today provided a corporate update at the LD Micro Main Event XIV investor conference in Los Angeles, CA. The presentation slides will be publicly available through the SEC website as an attachment to the Form 8-K filed in connection with this press release as well as on the corporate website at www.ir.archtherapeutics.com/presentations.

Among other noted achievements, the Company announced its first sale into a Veterans Administration (“VA”) hospital through its new distribution partner, Lovell Government Services (“LGS”), a respected and recognized Service-Disabled Veteran-Owned Small Business (“SDVOSB”). This milestone, while admittedly a single small step, stems from the continued deployment and execution of the revamped commercialization effort led by new team members, including Dan Yrigoyen, who joined Arch Therapeutics 90-days ago as Head of Sales. Other important recent developments include, i) continued slowly improving access to hospitals, clinics, and other healthcare facilities; ii) inclusion on multiple purchasing schedules through LGS necessary to transact business with VA hospitals and other government channel facilities; and iii) launch of the recently announced pilot program, which represents the critical next step forward in the Company’s non-government go to market strategy.

“The progress made in the overall development of the Company’s commercialization plan over the last ninety days has been remarkable. Working together, the new team made steady progress in the execution of our go to market strategy for both the government and commercial channels,” stated Terry Norchi, MD, Chief Executive Officer of Arch Therapeutics. “While early results are expected to be modest, we have cleared some important hurdles. We remain focused on leveraging our new capabilities and initiatives to drive incremental revenue going forward. It is truly an exciting time as we continue to drive our mission to provide superior outcomes to patients, including veterans who struggle with painful and disruptive challenging wounds,” concluded Dr. Norchi.

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