Arch Therapeutics is an early-stage biotech company developing wound care products based on its proprietary AC5 self-assembling peptide (SAP) technology. When applied to a wound, AC5 self-assembles into a nanoscale fibrous barrier that stops bleeding and supports tissue healing without relying on the body's normal clotting mechanisms, making it effective even in patients on blood thinners. Arch's only commercial product is AC5 Advanced Wound System, an FDA-cleared topical liquid dressing targeting chronic and acute wounds such as diabetic foot ulcers, pressure ulcers, and surgical wounds. Arch sells primarily to physician offices and government healthcare facilities — VA hospitals, military treatment facilities, and Indian Health Services — through a small internal sales team and independent distributors. The government channel is the more immediate sales path, as reimbursement barriers are lower. Broader physician office adoption depends on establishing coverage and payment rates under a dedicated CMS reimbursement code (HCPCS A2020) received in April 2023. Beyond wound care, Arch is developing a pipeline of internal-use BioSurgery products, including a surgical hemostat, a vascular anastomosis hemostat, and a gastrointestinal endoscopy product, all of which require clinical trials and FDA approval before commercialization. Arch has funded operations almost entirely through debt and equity issuances and carries a going concern warning, with cash runway limited into mid-2024.