Since the
While coverage and payment decisions by payor can vary, and total revenue remains modest relative to our long-term expectations, the increase in order volume, reimbursement trends, and the number of providers using AC5® in their respective practice settings exceeds management’s internal targets for this point in the process.
“The establishment of coverage and payment decisions from commercial payors and CMS contractors is an important element of our growth strategy for AC5. We expect to build on our recent sales momentum throughout 2023 and 2024,” stated
AC5 is cleared by the
https://www.archtherapeutics.com/technology/clinical-data.
About
Notice Regarding Forward-Looking Statements
This news release contains “forward-looking statements” as that term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, references to novel technologies and methods, our business and product development plans and projections, or market information. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with developing new products or technologies and operating as a development stage company, our ability to retain important members of our management team and attract other qualified personnel, our ability to raise the additional funding we will need to continue to pursue our business and product development plans, our ability to obtain required regulatory approvals, our ability to produce commercial quantities of our products within projected timeframes, our ability to develop and commercialize products based on our technology platform, and market conditions, and our ability to establish additional commercialization partnerships and build a critical mass of field sales representatives. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the reports and other documents we file with the
Contact:
ARTH Investor Relations
Toll Free: +1-855-340-ARTH (2784) (US and
Email: investors@archtherapeutics.com
Website: www.archtherapeutics.com
or
Chief Financial Officer
Phone: 617-680-7841
Email: mabrams@archtherapeutics.com
Website: www.archtherapeutics.com
1 AC5-G, AC5-V, and AC5 Surgical Hemostat are currently investigational devices limited by law to investigational use.
2 AC5, AC5-G, AC5-V and associated logos are trademarks and/or registered trademarks of
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