Analyst Coverage

Firm	Analyst
H.C. Wainwright & Co.	Raghuram Selvaraju, Ph.D.
Maxim Group LLC	Jason McCarthy, Ph.D.
Ladenburg Thalmann & Co. Inc.	Michael Higgins

Arch Therapeutics, Inc. is followed by the analysts listed above. Please note that any opinions, estimates or forecasts regarding Arch Therapeutics, Inc.'s performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of Arch Therapeutics, Inc. or its management. Arch Therapeutics, Inc. does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.