ARCH THERAPEUTICS INC - ARTH STOCK NEWS

Arch Therapeutics, Inc. (OTCQB: ARTH) reported strong trends in orders and paid claims for its AC5 Advanced Wound System, with a significant increase in orders, favorable coverage and reimbursement decisions, and a doubling of September orders compared to August. The company also highlighted key milestones and achievements from the fiscal year ended September 30, 2023, including the establishment of a dedicated HCPCS code for AC5, the creation of a Medical Advisory Board, and successful presentations at the Symposium on Advanced Wound Care.

Arch Therapeutics announced that its first commercial product, AC5 Advanced Wound System, will be featured at the 2023 Symposium on Advanced Wound Care Fall Meeting. The product will be showcased in a clinical case poster and a hands-on skills lab for clinicians. The poster will present a case study demonstrating the use of AC5 in patients with chronic venous leg ulcers. The hands-on skills lab will provide clinicians with the opportunity to learn and gain hands-on experience with AC5.

Orders and paid claims for Arch Therapeutics' AC5 Advanced Wound System have increased since the rollout of the reimbursement code A2020, with average monthly order volume growing over four-fold compared to the first quarter. The company has confirmed reimbursement through paid claims in various regions and continues to work on expanding coverage and optimizing payment policies. While total revenue remains modest, the increase in order volume and reimbursement trends exceed management's targets. AC5 is FDA-cleared for the management of partial and full-thickness wounds.

Arch Therapeutics completes private placement preceding planned national exchange listing of common stock

Arch Therapeutics announced the exhibition of its AC5® Advanced Wound System at the Symposium on Advanced Wound Care (SAWC) Spring 2023, held from April 26-30 in National Harbor, MD. This conference marks Arch's first opportunity to present AC5 since the Centers for Medicare and Medicaid Services (CMS) established a dedicated reimbursement code, A2020, effective April 1, 2023.

During SAWC, the company will showcase the product's efficacy and introduce clinicians to its innovative self-assembling technology. Notably, two case studies demonstrating AC5's clinical success will be presented. Arch's President, Terrence W. Norchi, emphasized the significance of presenting AC5 alongside the new reimbursement code, reiterating its potential to improve patient outcomes while reducing healthcare costs.

Arch Therapeutics (OTCQB: ARTH) announced a new HCPCS code A2020 for its AC5® Advanced Wound System, effective April 1, 2023. This code is expected to enhance reimbursement opportunities for AC5 in outpatient settings, facilitating increased adoption among healthcare providers.

According to VP of Sales, Dan Yrigoyen, the new code has already sparked inquiries from potential customers previously hesitant to order AC5. The AC5 system, cleared by the FDA, is designed for managing various wound types, with case studies indicating improved patient outcomes. The code signifies a key milestone in Arch's commercialization strategy, aiding in the pursuit of better wound healing solutions.

Arch Therapeutics, Inc. (OTCQB: ARTH) announced a significant milestone with the establishment of a new Level II HCPCS code, A2020, by the Centers for Medicare and Medicaid Services (CMS) for its AC5® Advanced Wound System. Effective April 1, 2023, this code aims to facilitate reimbursement processes, enhancing the accessibility of AC5 in various healthcare settings, including doctors' offices and wound care clinics. CEO Terrence Norchi expressed optimism that this development will improve clinician access to AC5 and support revenue growth by allowing they engage directly with payors for favorable payment policies.

Arch Therapeutics (OTCQB: ARTH) announced an expansion of its contracted sales force to enhance the commercialization of its AC5^® Advanced Wound System. By the end of Q1 2023, approximately 15 independent commission-based sales representatives will be added to support sales in government facilities, including the Department of Veterans Affairs, Indian Health Services, and the Department of Defense. This strategy aims to optimize sales in regions with initial orders for AC5. Positive data from early use in challenging cases has been presented at recent conferences, reinforcing the product's potential in acute and chronic wound management.

Arch Therapeutics (OTCQB: ARTH) has formed a Medical Advisory Board of prominent wound care specialists to enhance the commercialization of its AC5® Advanced Wound System. The board consists of six esteemed members, including Dr. Gregory Bohn and Dr. Matthew Garoufalis, who bring valuable expertise in various medical fields. The CEO, Terrence W. Norchi, expressed confidence that this strategic alignment will improve patient outcomes and promote AC5 adoption. Arch is based in Framingham, Massachusetts, and specializes in innovative wound care solutions, with regulatory approval for products in the U.S. and Europe.