Nothing but Silence Arch update
Well I wish I had something positive to report. I only have my observations and opinions.
We are 9 months into dosing in Turkey at 5 sites. Arch management reluctant to update the markets regarding number of patients dosed. Reading the tea leaves, the only positive is no adverse reactions!
Arch recently advised markets that Calgary dosed first patient, only took 8 months to get approval and still nothing from 2 sites in Toronto.
If you check clinical trials website here:
https://clinicaltrials.gov/study/NCT05879432?cond=Lsalt&rank=2
You will note Arch has extended the completion date for AKI trial from Feb 2025 to August 2025. Management quietly updated this but I suspect the shorts picked up on it.
When you add that to the fact Calgary became live, it suggests Arch is very conservative and selective regarding the patients dosed. I guess it is like the tortoise and the hare ( ha ha ha).
On the flip side this sends a clear message to the shorts, dont worry you can continue to short we wont be releasing data anytime soon.
The shorts have been aggressive the past month, putting up walls but problem is the only consistent buyers are the two market makers.
We need new buyers to step in, unfortunately with zero institutional ownership, this is a retail play which places a big bullseye on their back for shorts. This all falls back on management, it is their job to promote and drive new buyers into the market.
Arch management avoid to operate in a similar fashion to their peers, possibly this why we have a $92 M usd market cap and similar staged peers have $750M to $2B valuations. They all have significant institutional ownership plus they are on bonafide exchanges.
I will say the fact the CEO owns 9M shares provides me a lot of comfort, skin in the game is positive and ge has added not sold!
The shorts are working extremely hard to keep this at $2 or lower.
We need to get off the TSX Venture, its corrupt and easily manipulated, I would suggest much of the short selling is naked.
We need to get this to $10 usd and on Nasdaq!