Allstocks.com's Bulletin Board Post New Topic  Post A Reply
my profile login | register | search | faq | forum home

  next oldest topic   next newest topic
» Allstocks.com's Bulletin Board » NASDAQ, AMEX, NYSE Stocks » ECTE Echo Therapeutics, Inc.

 - UBBFriend: Email this page to someone!    
Author Topic: ECTE Echo Therapeutics, Inc.
BooDog
Member


Icon 1 posted      Profile for BooDog     Send New Private Message       Edit/Delete Post   Reply With Quote 
Hedge fund attacks small cap Echo Therapeutics, Inc.

Echo has fired the CEO, Mooney is out. This is following a RS and a round of financing. Basically they've gotten the crap kicked out of them by their own doing.
Platinum (one of the hedge funds that owns about 20%) has filed a lawsuit due to the self destruction.

--------
Platinum fired a letter to Echo saying they'd save them if they did a number of things. It took a few days for Echo to respond saying they would meet with them.

Drama.

Anyway, because of the RS the float is pretty small and this can result in some pretty wide price fluctuations.

Do your DD for sure!

---------------

As of August 8, 2013, 10,674,919 shares of the registrant’s Common Stock, $0.01 par value, were issued and outstanding.


InPlay: Echo Therapeutics sends response to shareholder letter; Echo has communicated with Platinum-Montaur to discuss the matters raised in the August 30, 2013 communicationBriefing.com(Thu, Sep 5)Echo Therapeutics Sends Response to Shareholder LetterPR Newswire(Thu, Sep 5)

Platinum-Montaur Announces Proposal To Reverse The Destruction Of Shareholder Value At Echo Therapeutics, Inc.PR Newswire(Fri, Aug 30)

ECHO THERAPEUTICS, INC. Files SEC form 8-K, Change in Directors or Principal Officers, Financial Statements and ExhibEDGAR Online(Thu, Aug 29)

http://finance.yahoo.com/q?s=ECTE


About Echo Therapeutics

Echo Therapeutics is developing the Symphony CGM System as a non-invasive, wireless, continuous glucose monitoring system for use initially in the critical care setting. Significant opportunity also exists for Symphony to be used in the hospital beyond the critical care setting, as well as in patients with diabetes in the outpatient setting. Echo is also developing its needle-free skin preparation component of Symphony, the Prelude® SkinPrep System, as a platform technology to enhance delivery of topical pharmaceuticals.

--------------------
All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

Posts: 7800 | From: Virginia | Registered: May 2006  |  IP: Logged | Report this post to a Moderator
BooDog
Member


Icon 1 posted      Profile for BooDog     Send New Private Message       Edit/Delete Post   Reply With Quote 
Echo Therapeutics Provides Corporate Update and Implements Substantial Cost Reduction Initiatives
PR NewswirePress Release: Echo Therapeutics, Inc. – 3 minutes 52 seconds ago..
ECTE 2.75

PHILADELPHIA, Oct. 3, 2013 /PRNewswire/ -- Echo Therapeutics, Inc. (ECTE), a medical device company developing its Symphony® CGM System as a non-invasive, wireless, continuous glucose monitoring system, today announced a corporate update covering Company activities, expected near-term achievements and comments on recent events.

Corporate Objectives

The Company's corporate objectives for the remainder of 2013 are as follows:
1. Complete the EU Regulatory Clinical Trial
2. File for CE Marking
3. Attain Food & Drug Administration (FDA) Guidance for U.S. Regulatory Pathway
4. Implement Significant Cost Reduction Initiatives

EU Regulatory Clinical Trial

Echo continues to enroll subjects in its multi-center European regulatory trial of the Symphony CGM System in surgical patients in hospital critical care units. Slower than expected initial enrollment in the trial and other issues inherent in clinical studies conducted in hospital critical care units caused delays in the anticipated completion of the trial in the 3rd quarter of 2013. Echo now expects to announce the top-line clinical results during the 4th quarter of 2013.

Submit for CE Marking

Following successful completion of the EU clinical trial and preparation of the Conformite Europeenne (CE) Technical File, the Company plans to submit the file for European approval late in the 4th quarter of 2013. Subsequent to the completion of the EU approval process, a decision will be made on when to initiate a limited launch of the Symphony CGM System. The decision will be based on a number of factors including the timing and implementation of product enhancements that have been identified in the ongoing clinical trial.

U.S. Food & Drug Administration Guidance

Echo has received comments from the FDA Center for Devices and Radiological Health on the pre-submission package that was filed in June 2013. The FDA has notified the Company that the meeting scheduled for the 4th quarter of 2013 may be postponed due to a lapse in appropriations resulting from the recent U.S. Federal Government shutdown. The outcome of the meeting will assist Echo in identifying and defining its strategy to complete the product and clinical development pathway for U.S. regulatory submission of the Symphony CGM System for use in the hospital critical care environment. Echo plans to commence its multi-center, pivotal FDA clinical trial in the second half of 2014, following completion of certain system enhancements and receipt of Institutional Review Board (IRB) approvals.

Cost Reduction Initiatives

The Company has implemented a number of substantial cost reduction measures in ways that will not diminish Echo's ability to execute on its short-term objectives as part of a restructuring plan recommended by Robert F. Doman, Echo's Executive Chairman and Interim CEO, and approved by Echo's Independent Board of Directors on September 30, 2013. This will be achieved through cost-cutting initiatives aimed at reducing operating costs, particularly marketing and manufacturing expenditures and corporate general and administrative costs. While improving operating efficiency and containing costs are on-going priorities, Echo has targeted cost reductions across all aspects of its operations in both external spend and head count. On September 30, 2013, Echo implemented a staff reduction of approximately 33% of the Company's workforce. As a result of these initiatives, the 4th quarter burn rate is expected to decrease by approximately 35-40% from the quarterly burn rate experienced during the first three quarters of 2013.

"It's important to recognize this shift as part of a continuing effort to focus our efforts and resources on our short-term corporate objectives in order to drive future shareholder value. I strongly believe in our management team's ability to execute on our plan to better position the Company to realize its long-term potential," said Mr. Doman. "We highly value all of our employees and deeply regret having to make these workforce reductions. However, these reductions were essential to better align ongoing expenses with our short-term objectives and position Echo for future growth."

Other Corporate Updates

Patrick T. Mooney, M.D.'s employment with the Company, as Chairman and Chief Executive Officer, terminated effective September 27, 2013. The Company thanks Dr. Mooney for his service and wishes him well in all future endeavors. As previously announced, Robert F. Doman currently serves as Executive Chairman and Interim Chief Executive Officer. The Board has commenced a search for a new Chief Executive Officer. William Grieco, the Chairman of the Company's Nominating and Corporate Governance Committee, is leading the search for Dr. Mooney's replacement.

Following Platinum-Montaur's August 30, 2013 public communication, Echo has held productive meetings with Platinum to discuss the proposals outlined in the communication. The Company will continue to foster open and effective lines of communication with Platinum and will keep shareholders apprised of material developments that may emanate from those cooperative discussions.

About Echo Therapeutics

Echo Therapeutics is developing the Symphony CGM System as a non-invasive, wireless, continuous glucose monitoring system for use initially in the critical care setting. Significant opportunity also exists for Symphony to be used in the hospital beyond the critical care setting, as well as in patients with diabetes in the outpatient setting. Echo is also developing its needle-free skin preparation component of Symphony, the Prelude® SkinPrep System, as a platform technology to enhance delivery of topical pharmaceuticals.

Cautionary Statement Regarding Forward Looking Statements

The statements in this press release that are not historical facts including, but not limited to, statements about Echo completing the EU regulatory clinical trial and announcing clinical trial results, filing for CE marking, conducting a limited launch of the Symphony CGM System, meeting with the FDA, attaining FDA guidance for Symphony CGM System's U.S. regulatory pathway, commencing its multi-center FDA clinical trial of the Symphony CGM System, implementing significant cost reduction initiatives and decreasing Echo's burn rate, may constitute forward-looking statements that are based on current expectations and are subject to risks and uncertainties that could cause actual future results to differ materially from those expressed or implied by such statements. Those risks and uncertainties include, but are not limited to, risks related to regulatory approvals and the success of Echo's ongoing studies, including the safety and efficacy of Echo's Symphony CGM System, the failure of future development and preliminary marketing efforts related to Echo's Symphony CGM System, Echo's ability to secure additional commercial partnering arrangements, risks and uncertainties relating to Echo's and its partners' ability to develop, market and sell the Symphony CGM System, the availability of substantial additional equity or debt capital to support its research, development and product commercialization activities, and the success of its research, development, regulatory approval, marketing and distribution plans and strategies, including those plans and strategies related to its Symphony CGM System. These and other risks and uncertainties are identified and described in more detail in Echo's filings with the Securities and Exchange Commission, including, without limitation, its Annual Report on Form 10-K for the year ended December 31, 2012, its Quarterly Reports on Form 10-Q, and its Current Reports on Form 8-K. Echo undertakes no obligation to publicly update or revise any forward-looking statements.

For More Information:
Christine H. Olimpio
Director, Investor Relations and Corporate Communications
Echo Therapeutics, Inc.
(215) 717-4104

or

Seth Lewis
Senior Vice President, Trout Group, LLC
(646) 378-2952

Connect With Us:
- Visit our website at www.echotx.com
- Follow us on Twitter at www.twitter.com/echotx
- Join us on Facebook at www.facebook.com/echotx

--------------------
All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

Posts: 7800 | From: Virginia | Registered: May 2006  |  IP: Logged | Report this post to a Moderator
BooDog
Member


Icon 1 posted      Profile for BooDog     Send New Private Message       Edit/Delete Post   Reply With Quote 
3.60 HOD

http://www.forbes.com/sites/greatspeculations/2013/10/08/five-stocks-analysts-se e-tripling-in-price/?partner=yahootix
Five Stocks Analysts See Tripling In Price
Bryan Rich, Contributor

gave ECTE a PPS target of $9.33.

--------------------
All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

Posts: 7800 | From: Virginia | Registered: May 2006  |  IP: Logged | Report this post to a Moderator
BooDog
Member


Icon 1 posted      Profile for BooDog     Send New Private Message       Edit/Delete Post   Reply With Quote 
dead cat bounce. Took some on the dip.

--------------------
All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

Posts: 7800 | From: Virginia | Registered: May 2006  |  IP: Logged | Report this post to a Moderator
BooDog
Member


Icon 1 posted      Profile for BooDog     Send New Private Message       Edit/Delete Post   Reply With Quote 
early pincher radar, yi yi yi.

okay, VERY early radar [Eek!]

[Wall Bang]

--------------------
All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

Posts: 7800 | From: Virginia | Registered: May 2006  |  IP: Logged | Report this post to a Moderator
BooDog
Member


Icon 1 posted      Profile for BooDog     Send New Private Message       Edit/Delete Post   Reply With Quote 
printed 3.57 ah

[Were Up] [Were Up]

--------------------
All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

Posts: 7800 | From: Virginia | Registered: May 2006  |  IP: Logged | Report this post to a Moderator
BooDog
Member


Icon 1 posted      Profile for BooDog     Send New Private Message       Edit/Delete Post   Reply With Quote 
Echo Therapeutics Schedules Release of Symphony® CGM System CE Mark Regulatory Trial Results for Tuesday, November 26, 2013

Conference Call to begin at 9:00 a.m. ET


.

PR Newswire
Echo Therapeutics, Inc.
1 hour ago





..

.


.


..
.
.





PHILADELPHIA, Nov. 25, 2013 /PRNewswire/ -- Echo Therapeutics, Inc. (ECTE), a medical device company developing its Symphony® CGM System as a non-invasive, wireless continuous glucose monitoring system, today announced that it will release the results of the Symphony CE Mark Regulatory Trial on Tuesday, November 26, 2013. Management will hold a conference call to review the study results and other recent developments starting at 9:00 a.m. ET on Tuesday, November 26, 2013.

The dial-in number is (877) 300-8521 and reference Echo Therapeutics call. The archived audiocast will be available for fourteen days following the call by visiting the Events section of Echo's website at www.echotx.com.

About Echo Therapeutics

Echo Therapeutics is developing the Symphony CGM System as a non-invasive, wireless, continuous glucose monitoring system for use initially in the critical care setting. Significant opportunity also exists for Symphony to be used in the hospital beyond the critical care setting, as well as in patients with diabetes in the outpatient setting. Echo is also developing its needle-free skin preparation component of Symphony, the Prelude® SkinPrep System, as a platform technology to enhance delivery of topical pharmaceuticals.

For More Information:
Christine H. Olimpio
Director, Investor Relations and Corporate Communications
(215) 717-4104
colimpio@echotx.com

Connect With Us:
- Visit our website at www.echotx.com
- Follow us on Twitter at www.twitter.com/echotx
- Join us on Facebook at www.facebook.com/echotx

--------------------
All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

Posts: 7800 | From: Virginia | Registered: May 2006  |  IP: Logged | Report this post to a Moderator
BooDog
Member


Icon 1 posted      Profile for BooDog     Send New Private Message       Edit/Delete Post   Reply With Quote 
Okay, so today was a great day.

Echo Therapeutics, Inc. (ECTE)-NasdaqCM  Follow
4.65 Up 1.96(72.86%) 4:00PM EST|After Hours : 5.30 Up 0.65 (13.98%) 6:33PM EST - Nasdaq Real Time Price

Add to Portfolio
Prev Close: 2.69
Open: 4.50
Bid: 5.07 x 1300
Ask: 5.09 x 100
1y Target Est: 5.00
Beta: 1.67
Next Earnings Date: N/A
Day's Range: 3.63 - 4.91
52wk Range: 1.80 - 14.50
Volume: 11,053,374
Avg Vol (3m): 150,994
Market Cap: 49.09M
P/E (ttm): N/A
EPS (ttm): -2.62


After hours pushing.


ITS BEEN A LONG TIME since I've seen (this time IN) a major double gapper.


low floater, I have it at around 8mm share float.

--------------------
All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

Posts: 7800 | From: Virginia | Registered: May 2006  |  IP: Logged | Report this post to a Moderator
BooDog
Member


Icon 1 posted      Profile for BooDog     Send New Private Message       Edit/Delete Post   Reply With Quote 
Echo Therapeutics Announces Positive CE Mark Regulatory Trial Results of Symphony® CGM System
Symphony meets primary safety and effectiveness endpoints
Company on target to file CE Mark Technical File by year end
.
Echo Therapeutics, Inc.
22 hours ago
0 shares
...


...Content preferences ....Done ..
....
PHILADELPHIA, Nov. 26, 2013 /PRNewswire/ -- Echo Therapeutics, Inc. (ECTE), a medical device company developing its Symphony® CGM System as a non-invasive, wireless continuous glucose monitoring system, today announced positive results from its multi-center clinical trial of the Symphony CGM System in surgical patients in hospital critical care units. Data collected from this study will serve as the basis for the CE Mark Technical File submission for marketing approval in Europe, which the Company expects to submit in the fourth quarter of 2013.

Symphony met the primary safety and effectiveness endpoints of the trial which involved the continuous monitoring of glucose levels in 32 subjects in the critical care units at four investigational sites. In the trial, Symphony monitored glucose levels with a mean absolute relative difference (MARD), or error rate, of 12.5%. The Continuous Glucose-Error Grid Analysis (CG-EGA) showed that 97.9% of the readings were clinically accurate (A) and 1.8% were benign (B) errors with a combined A+B categorization of 99.7%.

"We are extremely pleased with the positive results of this trial. Importantly, this was the largest study of Symphony to date and it was the first time that all of the components of the system were used together in a clinical trial. We believe Symphony demonstrated satisfactory safety, accuracy and reliability during the clinical trial to satisfy CE Mark requirements," said Robert F. Doman, Executive Chairman and Interim CEO of Echo Therapeutics. "We believe that there is great clinical need in the hospital for a non-invasive continuous glucose monitoring system, like Symphony, to support glycemic control protocols in hospital critical care units, leading to improved clinical outcomes."

Study Results

Using over 630 Symphony CGM glucose readings paired with reference blood glucose measurements in thirty-two (32) study subjects, CG-EGA showed that 97.9% of the readings were clinically accurate and 1.8% were benign errors, with a combined A+B value of 99.7%. The MARD for the study was 12.5%. There were no adverse events reported from the skin preparation or the Symphony CGM sensor session. The range of glucose values was 49 - 324 mg/dL.

Trial Design

This trial was designed to evaluate the performance of Echo's Symphony CGM System in thirty-two (32) post-surgical patients in the critical care setting at four investigational sites. Three enrolled patients who were administered an IV formulation of acetaminophen were subsequently excluded from the study based on an observed interference with the glucose sensor. The skin of each patient was prepared using the skin preparation device, and a Symphony CGM sensor was then applied to the prepared site. During the 24-hour study period, a maximum of thirty reference blood samples were taken from arterial line catheters and measured on a YSI 2300 STAT Plus Glucose Analyzer as a reference. The data collected by Symphony was blinded to study subjects and investigational institution clinical staff. At the conclusion of the study period, the prepared skin sites were inspected for redness or other undesirable effects immediately following sensor removal, and again 7 days after sensor removal.

Analytical Methods

Continuous data from the Symphony CGM System were compared to reference measurements from the YSI 2300 STAT Plus Glucose Analyzer. Those reference measurements were paired with the Symphony results through a data analysis algorithm. Data from the three subjects with the observed IV acetaminophen interference were excluded from the analysis, as these subjects were not considered evaluable due to the interference issue. The primary statistical analytical tools used to evaluate the performance of Symphony were MARD and CG-EGA. Numerical accuracy is measured using MARD, an error calculation tool that was used to measure the absolute value of the average relative difference between Symphony and the reference measurements, on a percentage basis. The CG-EGA is a categorization of all data pairs based on the clinical significance of the accuracy. Accurate readings result in the same clinical decision when based on the CGM value versus the blood glucose value. Benign errors lead to the same clinical outcome as accurate readings even though the actual clinical decision may differ. Erroneous readings lead to clinical errors. CGM performance is measured as the sum of accurate readings and benign errors.

Safety was assessed using a five point dermatological scale immediately after sensor removal and again seven days post sensor removal.

Conference Call

Management will host a conference call today starting at 9:00 AM ET to discuss the trial results and other recent developments. To listen in and/or participate in the call, please dial (877) 300-8521 and reference Echo Therapeutics' call. The archived audiocast will be available for fourteen days following the call by visiting the Events section of Echo's website at www.echotx.com.

About Echo Therapeutics

Echo Therapeutics is developing the Symphony CGM System as a non-invasive, wireless, continuous glucose monitoring system for use initially in the hospital critical care setting. Significant opportunity also exists for Symphony to be used in the hospital beyond the critical care setting. The Prelude® SkinPrep System, a component of the Symphony CGM System, allows for enhanced skin permeation that will enable extraction of analytes, such as glucose, and enhanced delivery of topical pharmaceuticals.

Cautionary Statement Regarding Forward Looking Statements

The statements in this press release that are not historical facts, including those regarding Echo's submission of a CE Mark Technical File for marketing approval in Europe, may constitute forward-looking statements that are based on current expectations and are subject to risks and uncertainties that could cause actual future results to differ materially from those expressed or implied by such statements. Those risks and uncertainties include, but are not limited to, risks related to regulatory approvals and the success of Echo's ongoing studies, including the safety and efficacy of Echo's Symphony CGM System, the failure of future development and preliminary marketing efforts related to Echo's Symphony CGM System, Echo's ability to secure additional commercial partnering arrangements, risks and uncertainties relating to Echo's and its partners' ability to develop, market and sell the Symphony CGM System, the availability of substantial additional equity or debt capital to support its research, development and product commercialization activities, and the success of its research, development, regulatory approval, marketing and distribution plans and strategies, including those plans and strategies related to its Symphony CGM System. These and other risks and uncertainties are identified and described in more detail in Echo's filings with the Securities and Exchange Commission, including, without limitation, its Annual Report on Form 10-K for the year ended December 31, 2012, its Quarterly Reports on Form 10-Q, and its Current Reports on Form 8-K. Echo undertakes no obligation to publicly update or revise any forward-looking statements.

For More Information:
Christine H. Olimpio
Director, Investor Relations and Corporate Communications
(215) 717-4104
colimpio@echotx.com

Connect With Us:
- Visit our website at www.echotx.com
- Follow us on Twitter at www.twitter.com/echotx
- Join us on Facebook at www.facebook.com/echotx

--------------------
All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

Posts: 7800 | From: Virginia | Registered: May 2006  |  IP: Logged | Report this post to a Moderator
BooDog
Member


Icon 1 posted      Profile for BooDog     Send New Private Message       Edit/Delete Post   Reply With Quote 
Echo Therapeutics Announces Strategic Partnership with Medical Technologies Innovation Asia (MTIA)

Echo to receive a $10 million cash investment from MTIA and Platinum Partners
Company will withdraw the offering identified in recent Form S-1 filing


.

PR Newswire
Echo Therapeutics, Inc.
50 minutes ago





..

.


.


..
.
.




PHILADELPHIA, Dec. 10, 2013 /PRNewswire/ -- Echo Therapeutics, Inc. (ECTE) ("Echo"), a medical device company developing its Symphony® CGM System as a non-invasive, wireless continuous glucose monitoring system, today announced that it entered into a strategic collaboration agreement with Medical Technologies Innovation Asia (MTIA), Ltd., Hong Kong, for a license arrangement and equity investment in Echo. Under the terms of the License, Development and Commercialization Agreement, dated December 9, 2013, between MTIA and Echo (the "Agreement"), Echo granted MTIA rights to develop, manufacture, market and distribute Echo's Symphony CGM System on an exclusive basis for the Chinese market, including the Peoples' Republic of China, Hong Kong, Macau and Taiwan.


Under the terms of the Agreement, MTIA is responsible for development costs, as well as manufacturing and marketing costs, relating to the Symphony CGM System for the Chinese market, and for obtaining regulatory approval for the product in the licensed territories. Upon the earlier of regulatory approval from the China Food and Drug Administration or upon Echo's termination of the Agreement, MTIA is entitled to reimbursement of development costs up to $1.5 million in the form of shares of Echo's common stock valued at $2.71, which was the NASDAQ closing price on December 9, 2013. The parties will share net sales of the product generated in the territory. The term of the Agreement is ten (10) years, subject to certain rights to earlier termination for breach, change of control and certain performance obligations.

The worldwide market for glucose monitoring devices is approximately $10 billion, and is largely composed of blood glucose meters and test strips which provide single blood glucose values. Symphony has the potential to offer a non-invasive, continuous glucose monitoring solution for use in the emerging hospital market. This strategic partnership offers Echo both the potential to accelerate Symphony's commercialization in China and to access to the Chinese market, where MTIA has established sales channels in more than 1,000 hospitals spanning the country's provinces.

"This collaboration addresses a specific market need in China and we believe that, with our medical device expertise and extensive sales channels, the Symphony CGM System has the potential to revolutionize the standard of care for glucose monitoring in China," said Bai Ge, Managing Director of MTIA. "We are exceptionally pleased to work together with Echo and look forward to a long and productive partnership."

As partial consideration for the Agreement, MTIA and its affiliate purchased 1,818,182 shares of Echo's common stock, par value $0.01 per share, at $2.75 per share, a premium to NASDAQ's closing market price of Echo's common stock on December 9, 2013. MTIA will also receive 181,818 warrants, having a five-year term and an exercise price of $2.75 per warrant. The warrants are exercisable commencing on June 9, 2014. Additionally, Platinum Partners and certain of its affiliates, increased their position in Echo by purchasing 69,569 shares of Echo's common stock at $2.75 per share, a premium to NASDAQ's closing market price on December 9, 2013. Platinum is also purchasing 1,748,613 shares of Series E Convertible Preferred Shares at a purchase price of $2.75 per share which are convertible into shares of Echo's common stock on a one-for-one basis. Platinum will also receive 181,818 warrants on the same terms and conditions as the warrants issued to MTIA. The securities are subject to certain piggy-back registration rights. As a result of the investment in the Company of $10 million, Echo will withdraw the registration statement on Form S-1 filed by the Company on December 2, 2013. The Company had filed the Form S-1 as a potential back-up financial alternative in the event that negotiations with MTIA were not successful.

"We are excited to be working with MTIA in this new relationship to meet the growing glucose monitoring needs in China. We believe MTIA's expertise and relationships in China will enhance Echo's success in this region and our overall value proposition," said Robert F. Doman, Executive Chairman and Interim CEO of Echo Therapeutics, Inc. "In addition to strengthening the balance sheet, this $10 million cash infusion, following the recent positive clinical results for use of our Symphony CGM System, represents an important achievement for Echo as we progress toward regulatory clearance."

"Platinum's decision to invest in Echo at this time reflects our view of the Company's opportunity for future growth and confidence in the technology and we congratulate the new management and the Board of Directors for working diligently to close this deal which we are confident will create shareholder value and help deliver against the Company's strategic goals. As a result of the MTIA collaboration, we believe that Echo can leverage MTIA's manufacturing and clinical development skills and capitalize on the significant Chinese market," said Michael M. Goldberg M.D., Principal of Platinum-Montaur Life Sciences, LLC. "This investment reinforces Platinum's long-term commitment to Echo."

"The Company is pleased to finally have the opportunity to arrange this constructive financing with Platinum and to partner with MTIA, who was introduced to us by Platinum, after extensive due diligence and product development analyses. Although this joint process took more time than all three parties initially anticipated, its comprehensive and cooperative nature has been highly beneficial to the alignment of our interests and that of all of our shareholders," added Robert Doman.

About Medical Technologies Innovation Asia

Medical Technologies Innovation Asia (MTIA) is a fully integrated medical device company focused on accelerating and delivering game-changing technologies that improve existing standards of care to meet unmet significant clinical needs and challenges, especially in oncology, diabetic, cardiovascular and other aging-related disease. Headquartered in Hong Kong, the company has manufacturing and sales facilities throughout mainland China. MTIA has established sales channels in more than 1,000 hospitals across China's provinces, including national, top-tier regional and military institutions. MTIA is also the leading investor to pilot a number of State-Owned Enterprise giants of China in the healthcare area plus one of the potentially biggest market capitalization pharmaceutical companies who also has dramatic marketing and sales presence in the diabetic and cardiovascular disease treatment field.

About Echo Therapeutics

Echo Therapeutics is developing the Symphony CGM System as a non-invasive, wireless, continuous glucose monitoring system for use initially in the critical care setting. Significant opportunity also exists for Symphony to be used in the hospital beyond the critical care setting, as well as in patients with diabetes in the outpatient setting. Echo is also developing its needle-free skin preparation component of Symphony, the Prelude® SkinPrep System, as a platform technology to enhance delivery of topical pharmaceuticals.

Cautionary Statement Regarding Forward Looking Statements

The statements in this press release that are not historical facts, including Symphony's market potential and its commercialization in China, may constitute forward-looking statements that are based on current expectations and are subject to risks and uncertainties that could cause actual future results to differ materially from those expressed or implied by such statements. Those risks and uncertainties include, but are not limited to, risks related to regulatory approvals and the success of Echo's ongoing studies, including the safety and efficacy of Echo's Symphony CGM System, the failure of future development and preliminary marketing efforts related to Echo's Symphony CGM System, Echo's ability to secure additional commercial partnering arrangements, risks and uncertainties relating to Echo's and its partners' ability to develop, market and sell the Symphony CGM System, the availability of substantial additional equity or debt capital to support its research, development and product commercialization activities, and the success of its research, development, regulatory approval, marketing and distribution plans and strategies, including those plans and strategies related to its Symphony CGM System. These and other risks and uncertainties are identified and described in more detail in Echo's filings with the Securities and Exchange Commission, including, without limitation, its Annual Report on Form 10-K for the year ended December 31, 2012, its Quarterly Reports on Form 10-Q, and its Current Reports on Form 8-K. Echo undertakes no obligation to publicly update or revise any forward-looking statements.

For More Information:
Christine H. Olimpio
Director, Investor Relations and Corporate Communications
(215) 717-4104
colimpio@echotx.com

Connect With Us:
- Visit our website at www.echotx.com
- Follow us on Twitter at www.twitter.com/echotx
- Join us on Facebook at www.facebook.com/echotx

--------------------
All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

Posts: 7800 | From: Virginia | Registered: May 2006  |  IP: Logged | Report this post to a Moderator
BooDog
Member


Icon 1 posted      Profile for BooDog     Send New Private Message       Edit/Delete Post   Reply With Quote 
3.44 AH
134,276 $ 3.70
(17:52:58 PM) $ 2.90
(17:39:51 PM)

--------------------
All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

Posts: 7800 | From: Virginia | Registered: May 2006  |  IP: Logged | Report this post to a Moderator
BooDog
Member


Icon 1 posted      Profile for BooDog     Send New Private Message       Edit/Delete Post   Reply With Quote 
ECTE

$3.55


*

0.62

21.16%


150,816 $ 3.70
( 17:52:58 PM ) $ 2.90
( 17:39:51 PM )


Read more: http://www.nasdaq.com/symbol/ecte/after-hours#ixzz2n7Wn3tsj

Read More: http://investorshangout.com/post/1107903/-ECTE-3-55-0-62-21-16-View-most-recent- 100-trades-#ixzz2n7X8V7uF

--------------------
All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

Posts: 7800 | From: Virginia | Registered: May 2006  |  IP: Logged | Report this post to a Moderator
BooDog
Member


Icon 1 posted      Profile for BooDog     Send New Private Message       Edit/Delete Post   Reply With Quote 
Insiders buying
http://www.sec.gov/Archives/edgar/data/1031927/000114036113045902/xslF345X03/doc 1.xml

Here's the cold hard truth...
run the stock up with good news, sell and the cause everyone else to sell threatening another offering, the stock dumps, buy back in, then PR a deal with a manufacturing deal through China no less, the stock rallies yet again. We'll see how it works out.

--------------------
All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

Posts: 7800 | From: Virginia | Registered: May 2006  |  IP: Logged | Report this post to a Moderator
Lockman
Member


Member Rated:
4
Icon 1 posted      Profile for Lockman     Send New Private Message       Edit/Delete Post   Reply With Quote 
http://stockcharts.com/h-sc/ui?s=ECTE&p=D&b=5&g=0&id=p72809386754

Seems like a little gap to fill...2.90 looks like a soft bottom

--------------------
Let's Go METS!!!

Posts: 3317 | From: CT | Registered: Dec 2006  |  IP: Logged | Report this post to a Moderator
   

Quick Reply
Message:

HTML is not enabled.
UBB Code™ is enabled.

Instant Graemlins
   


Post New Topic  Post A Reply Close Topic   Feature Topic   Move Topic   Delete Topic next oldest topic   next newest topic
 - Printer-friendly view of this topic
Hop To:


Contact Us | Allstocks.com Message Board Home

© 1997 - 2021 Allstocks.com. All rights reserved.

Powered by Infopop Corporation
UBB.classic™ 6.7.2

Share