Echo Therapeutics to Present at OneMedForum 2010 Emerging Company Finance Conference
PR Newswire "US Press Releases "
FRANKLIN, Mass., Jan. 7 /PRNewswire-FirstCall/ -- Echo Therapeutics, Inc. (OTC Bulletin Board: ECTE), a diabetes management company developing the needle-free Symphonyâ„¢ tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring (tCGM) system and the Preludeâ„¢ SkinPrep System for transdermal drug delivery, announced today that Patrick T. Mooney, M.D., Chairman and Chief Executive Officer, will present at the OneMedPlace Finance Forum 2010 at 11.45 a.m. (PT) on Wednesday, January 13, 2010 at The Sir Francis Drake Hotel in San Francisco, CA.
Company management will be available for one-on-one meetings on January 12th and 13th. Please contact Brett Maas at (646) 536-7331 or brett@haydenir.com to request a meeting.
"Building on the significant positive momentum of 2009, we believe that we have set the stage for an exciting and productive 2010, as we enter the year with most of the initial product development work behind us and two significant strategic partnerships in place," commented Patrick T. Mooney, M.D., Chairman and Chief Executive Officer of Echo Therapeutics.  "We are now focused on completing milestone events, including key clinical trials, which will enable us to begin generating revenue. We anticipate near-term revenue for Echo from the royalties on Prelude disposables and lidocaine sales by Ferndale Pharma Group in the topical anesthetic market in the US and UK during 2010.  Additionally, we are positioned to be 'first-to-market' with tCGM in the hospital critical care market and we estimate that the hospital market opportunity for continuous glucose monitoring is greater than $1 billion. Finally, we plan to develop our Symphony system for use in the consumer market, providing additional upside potential and partnership possibilities in this more than $10 billion market opportunity. We are excited to share our vision and discuss our future opportunities with investors at this conference."
About the OneMedForum 2010
Held annually in San Francisco, the OneMedPlace Finance Forum was created to connect emerging healthcare and life science companies with investors and strategic partners. Over 100 company presentations will occur by some of the most promising - and typically least recognized - companies in the world. Recognizing the impacts and opportunities connected to healthcare reform and the stimulus package, the conference has added a third day dedicated to Health Information.
Echo Therapeutics is focused on medical devices and specialty pharmaceuticals. Echo is developing the Symphony tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring system for patients with diabetes and for use in hospital critical care units.  Echo is also developing its needle-free Prelude SkinPrep System for transdermal drug delivery of a wide range of novel topical reformulations of widely-used, FDA-approved products.
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3Company Highlights •Non-invasive, wireless, continuous blood glucose monitoring system •Novel platform technology that increases skin permeability •Two recent licensing transaction validate platform –Symphony™ tCGM licensed in South Korea to Handok Pharmaceuticals –Prelude™SkinPrep licensed to Ferndale Pharma for enhanced lidocaine delivery •Six consecutive positive pilot studies in glucose monitoring conducted to date •510-k filing in 1Q10 and approval for Prelude lidocaine 2Q10 –Revenues in 2Q10 •Pivotal trial and PMA filing anticipated in 2010 for glucose monitoring •Strategic partnership with Cato Research, a global CRO •Strong IP portfolio •Experienced public company management
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MR II Study •Completed in November 2009 •Goal: Evaluate performance of Symphony tCGM by comparing needle-free, wireless, real-time BG monitoring to YSI glucose analyzer in an outpatient setting •Device: Prelude SkinPrep and the Symphony tCGM incorporating one-piece, single use biosensor technology •Design: –Ten transdermal biosensors were used in evaluation of subjects with confirmed diagnosis of Type I or Type II diabetes –Continuous blood glucose readings collected by Symphony for up to 24 hours –Symphony data compared to reference measurements from YSI glucose analyzer
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Seems like Echo has got things really going on. I really like this. developing the needle-free Symphony(TM) tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring (tCGM) system !!!
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Echo Therapeutics is a transdermal medical device and specialty pharmaceuticals company. Echo's Symphony™ tCGM System is a non-invasive (needle-free), wireless, transdermal continuous glucose monitoring (tCGM) system focused on changing the paradigm of invasive, episodic glucose testing in diabetes home use and hospital critical care markets.
Echo's AzoneTS™ transdermal drug reformulation technology is focused on building a pipeline of safer and improved versions of widely-prescribed, FDA-approved specialty pharmaceutical products. Echo is developing most of its AzoneTS pipeline in accordance with the FDA's Section 505(b)(2) guidelines. Durhalieve™, Echo's lead AzoneTS drug candidate, is an advanced topical reformulation of triamcinolone acetonide for treatment of corticosteroid responsive dermatoses. Echo has submitted its Durhalieve New Drug Application (NDA) to the FDA .
Symphony™ tCGM System Transdermal Continuous Glucose Monitoring (tCGM) System Echo's Symphony™ tCGM System is a non-invasive (needle-free), wireless, transdermal continuous glucose monitoring (tCGM) system designed to provide reliable, continuous blood glucose data throughout the day and night, improve patient compliance to one-point-in-time glucose testing, and achieve better overall glucose control for people with diabetes and for use in hospital critical care units.
Importance of Continuous Blood Glucose Monitoring We believe that continuous blood glucose monitoring can be an important part of a diabetes patient’s daily disease management program. Continuous blood glucose monitoring can help plan diabetes treatment, guide day-to-day choices about diet, exercise and insulin use, and avoid unwanted low blood glucose (hypoglycemia) and high blood glucose (hyperglycemia) events and the complications that they can cause. Blood glucose levels are affected by many factors such as the carbohydrate and fat content of food, exercise, stress, illness, and variability in insulin absorption among others; therefore, it is often challenging for diabetes patients to avoid frequent and unpredictable excursions above or below normal glucose levels. Patients are often unaware that their glucose levels are either too high or too low, resulting in their inability to tightly control their glucose levels and prevent the complications associated with unwanted glucose excursions.
In an attempt to achieve and maintain blood glucose levels within a desired range, diabetes patients must measure their glucose levels. The ADA recommends that patients test their blood glucose levels at least three or four times per day; however, despite evidence that intensive glucose management reduces the long-term complications associated with diabetes, industry sources estimate that people with diabetes test, on average, less than twice per day. We believe our Symphony tCGM System has the potential to improve patient compliance to frequent glucose testing, achieve better glucose control and make a positive impact on overall day-to-day diabetes management.
Hospital Critical Care Market We believe Symphony has the potential to offer a non-invasive, wireless, tCGM solution for use in the rapidly emerging hospital critical care market. A primary cause of infection in critically ill patients is hyperglycemia which is a result of insulin resistance and total parenteral nutrition. Clinical studies have demonstrated that intensive insulin therapy to maintain tight glycemic control significantly reduces patient mortality, complications and infection rates, as well as hospital stays, services and overall hospital costs.
Regular monitoring of blood glucose levels is rapidly becoming a necessary procedure performed by hospital critical care personnel to achieve tight glycemic control and ensure improved patient outcomes. In a recent survey by Boston Biomedical Consultants of more than 60 hospital critical care unit managers and nurse clinicians in the United States, more than 90% of those surveyed acknowledged the benefits of tight glycemic control protocols in the hospital critical care setting. We believe tight glycemic control protocols are becoming the new standard of care in hospital critical care units across the United States, for patients with and without diabetes.
Today, standard practice by critical care nurses is to measure blood glucose at the patient’s bedside periodically. We believe that a CGM system such as Symphony will save valuable nursing time and expense by avoiding the need for frequent blood glucose sampling, in addition to providing more clinically relevant, real-time glucose level and trending information needed to develop better control algorithms for insulin administration.
Diabetes Home Use Market Diabetes is a chronic and life-threatening disease caused by the body’s inability to produce or properly use insulin, a key hormone the body uses to manage glucose, which fuels the cells in the body. Insulin regulates the uptake of sugar from the blood into the cells. When glucose builds up in the blood instead of going into cells, it can cause the cells to become starved for energy and, over time, damage the eyes, kidneys, nerves or heart. Although not all of the causes of diabetes are known, genetics and lifestyle factors such as obesity and lack of exercise appear to play important roles. According to the American Diabetes Association (ADA), about 21 million people in the United States, or approximately seven percent (7%) of the population, have diabetes, including over 6 million people who remain unaware that they have the disease. In addition, before people develop Type 2 diabetes (discussed below), they usually have “pre-diabetes,” or blood glucose levels that are higher than normal but not yet high enough to be diagnosed as diabetes. According to the ADA, there are 54 million people in the United States who have pre-diabetes.
When blood glucose levels are high, diabetes patients often administer insulin to reduce their blood glucose level. Unfortunately, insulin administration can reduce blood glucose levels below the normal range, causing hypoglycemia. In cases of severe hypoglycemia, diabetes patients risk severe and acute complications, such as loss of consciousness or death. Due to the drastic nature of acute complications associated with hypoglycemia, many diabetes patients are afraid of sharply reducing their blood glucose levels and often remain in a hyperglycemic state, exposing themselves to long-term complications of that condition.
Diabetes is typically classified into two major groups: Type 1 and Type 2. Type 1 diabetes usually develops in children and young adults and is characterized by the body’s inability to produce insulin. People with Type 1 diabetes rely on frequent administration of insulin to regulate their blood glucose levels. Type 2 diabetes, by far the most common form of the disease worldwide, results when either the body does not produce enough insulin or cells in the body ignore the insulin produced and become insulin-resistant. People with Type 2 diabetes often require diet and nutrition management, exercise, oral medications or insulin administration to regulate their blood glucose levels.
According to the ADA, the cost of diabetes care in the United States in 2007 was more than $174 billion, including $116 billion in excess medical expenditures attributed to diabetes and $58 billion in reduced national productivity. The ADA estimates that people with diabetes, on average, have medical expenditures that are approximately 2.3 times higher than the expenditures would be in the absence of diabetes and that approximately $1 in $10 healthcare dollars is attributed to diabetes. A significant portion of overall diabetes care costs, approximately $7 billion according to industry sources, is attributable to costs associated with monitoring blood glucose levels, and that market segment is projected to grow substantially by 2010 as patients and their physicians seek ways to manage glucose levels more effectively.
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Echo Therapeutics Announces Major Milestone: The Completion of Product Development Work of its Revolutionary, Patented Prelude(TM) SkinPrep System
PR Newswire "US Press Releases "
FRANKLIN, Mass., Jan 11 /PRNewswire-FirstCall/ -- Echo Therapeutics, Inc. (OTC Bulletin Board : ECTE), a company developing the needle-free Symphonyâ„¢ tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring (tCGM) system and the Preludeâ„¢ SkinPrep System for transdermal drug delivery, announced today that the Company has completed the product development work for its Prelude SkinPrep System and now has the commercially ready product to be used in final clinical trials.
Echo anticipates that no further changes will be made to the Prelude SkinPrep System and that the current device will be the one used for sale, subject to FDA market clearance of the product. The final Prelude device replaces the prototype device used in earlier clinical trials and will be tested in the near-term in a study using LMX4 lidocaine cream which should form the basis for a 510-k filing with Ferndale Pharma Group for the enhanced delivery of lidocaine. The Company believes that the addressable market for enhanced, fast acting topical lidocaine exceeds $1 billion.
"The completion of the product development work on our Prelude SkinPrep System, our skin preparation platform technology used for both transdermal drug delivery and skin preparation prior to the application of the Symphony tCGM glucose biosensor represents one of the most important milestone events in the Company's history," stated Patrick T. Mooney, M.D., Chairman and CEO of Echo Therapeutics. "We are now prepared to complete our clinical validation and begin commercialization efforts in enhanced topical lidocaine delivery. This next generation skin preparation device incorporates substantial improvements beyond the prototype used in earlier studies. We anticipate testing Prelude with LMX4 anesthetic cream for enhanced local dermal anesthesia in the near-term and subsequently seeking 510-k market clearance from the FDA."
The Company also anticipates that the completed Prelude will be tested in the near future with its recently completed one-piece, cost-effective, single-use Symphony tCGM glucose biosensor in patients with diabetes and critically ill patients who require aggressive glucose monitoring. Prelude incorporates Echo's patented skin permeation control feedback technology into a comfortable, wireless, hand-held device used to prepare a small area of the skin for the non-invasive, biosensor and monitoring components of its Symphony tCGM system or for transdermal drug delivery.
About Echo Therapeutics
Echo is developing the Symphony tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring system for patients with diabetes and for use in hospital critical care units. Echo is also developing its needle-free Prelude SkinPrep System for transdermal drug delivery of a wide range of novel topical reformulations of widely-used, FDA-approved products.
The statements in this press release that are not historical facts 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 and its partners' ongoing studies, including the efficacy of the Symphony tCGM System and Prelude SkinPrep System, the failure of future development and preliminary marketing efforts related to the Symphony tCGM System and Prelude SkinPrep System, Echo's ability to secure additional commercial partnering arrangements, risks and uncertainties relating to Echo's ability to develop, market and sell diagnostic and transdermal drug delivery products based on its skin permeation platform technologies, including the Symphony tCGM System and Prelude SkinPrep 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 the Symphony tCGM System and the Prelude SkinPrep 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, 2008, its quarterly reports on Form 10-Q, and its current reports on Form 8-K. Echo Therapeutics, Inc. undertakes no obligation to publicly update or revise any forward-looking statements.
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Demand for Diabetes Monitoring and Therapies is booming...because the number of Type 1 and Type 2 Diabetic Patients is increasing dramatically. One study that analysed the $11 billion U.S. Diabetes monitoring product and therapy industry stated, "US demand for diabetes monitoring products and therapies is expected to grow 9.5 percent annually through 2008. Gains will be driven by more diabetes patients and more aggressive treatments." Furthermore, it indicated that there were 24 major players including:
Eli Lilly GlaxoSmithKline Bristol-Myers Squibb Johnson & Johnson Sanofi-Aventis Roche Bayer Abbott Laboratories Novo Nordisk Medtronic MiniMed
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Critical Care Market Opportunity Initial critical care and hospital market opportunities greater than $1 Billion which includes 6,000 hospitals in the U.S alone with 120,00 critical care hospital beds.
ECTE's needle-free continuous monitoring system could be offered at a competitive price point directly to patients
ECTE is positioned to be "first-to-market" with their system
Additional upside potential and partnership possibilities create multi-billion dollar opportunities with general population use
Overall, ECTE creates a compelling trade idea! The Company has completed 6 clinical studies of its Symphony SkinPrep System and one-piece tCGM Biosensor that resulted in positive results.
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Echo's Symphony™ tCGM System is a non-invasive (needle-free), wireless, transdermal continuous glucose monitoring (tCGM) system in development for people with diabetes and for use in hospital critical care units. Symphony includes the Prelude™ SkinPrep System that incorporates Echo's patented feedback mechanism for optimal skin ablation control and its non-invasive, continuous transdermal biosensor. With Symphony, Echo is focused on changing the paradigm of invasive, episodic glucose testing for people with diabetes and for use in hospital critical care settings with technology designed to assist clinical professionals, improve patient compliance and achieve better overall glucose control.
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Echo Therapeutics Chairman and CEO to be Interviewed on Steve Crowley's American Scene Radio Program and Featured on Money Channel Inc. FRANKLIN, Mass., Jan 19, 2010 /PRNewswire via COMTEX/ -- Echo Therapeutics, Inc. /quotes/comstock/11k!ecte (ECTE 2.00, +0.10, +5.26%) , a company developing the needle-free Symphony(TM) tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring (tCGM) system and the Prelude(TM) SkinPrep System for transdermal drug delivery, announced today that Patrick T. Mooney, M.D., the Company's Chairman and CEO, will be interviewed on "Steve Crowley's American Scene National Radio" on Wednesday, January 20, 2010 at 9:42 AM ET and Friday January 22, 2010 at 10:24 AM ET. Dr. Mooney also will be a regular on-air guest on American Scene twice weekly and will be interviewed by host Steve Crowley regarding relevant corporate events, news releases and updates.
Steve Crowley's American Scene National Radio, owned by the Money Channel Inc., airs for three hours daily Monday through Friday. Money Channel also produces a national weekly television program, WallStreetCast, which airs on the FOX Business Network during certain times of the year. American Scene was launched nationally in June 1990, and WallStreetCast has been produced since 2005. Both programs feature personal finance advice, stock market-related news and advice, and they include regular CEO interviews of Micro-cap and Small-cap companies. American Scene has over 3,000,000 listeners on the three-hour daily radio broadcasts and airs on hundreds of radio channels nation-wide through the IRN/USA Radio Network affiliates.
"We are extremely excited to be interviewed by Steve Crowley, a Wall Street legend, on his American Scene radio program," commented Dr. Mooney. "Echo Therapeutics recently completed the initial product development work on our Prelude SkinPrep System and we are now focused on completing steps for our regulatory advance to commercialization and leveraging our strategic partnerships to generate product-related revenue. We believe the investors who listen to these shows will be interested in our story because we are positioned to be 'first-to-market' with a proven, needleless, transdermal continuous glucose monitoring system in the $1 billion-plus hospital critical care market. In addition, we anticipate near-term revenue for Echo from the royalties on Prelude disposables and lidocaine sales, and we look forward to working with Ferndale Pharma Group to generate cash flow to Echo from the topical anesthetic market in the US and UK during 2010. Finally, we are targeting an application to secure a national exchange listing in the near future, further increasing our visibility to investors and expanding our audience of potential investors. With these important milestones in view, we believe we have reached a compelling point in Echo's history, so the timing couldn't be better for us to share our story with the American Scene and WallStreetCast audiences."
About Echo Therapeutics
Echo is developing the Symphony tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring system for patients with diabetes and for use in hospital critical care units. Echo is also developing its needle-free Prelude SkinPrep System for transdermal drug delivery of a wide range of novel topical reformulations of widely-used, FDA-approved products.
About Money Channel Inc.
The Money Channel Inc. is headquartered in Coconut Creek, Florida and has operated as a Media Company since 2004, and its CEO, Stephen Crowley is a former Price Waterhouse and Co. CPA-Manager, the former Money Editor of ABC's Good Morning America as well as the author of Money for Life, published by Simon & Schuster Inc.
Mr. Crowley and his team have produced more than 9,000 national Radio and Television programs since 1982 in markets ranging from New York to San Diego and from Seattle to Miami. American Scene Radio is also co-branded with Investors Business Daily at www.investors.com/americanscene and with "thestreet.com" founded by Jim Cramer.
The statements in this press release that are not historical facts 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 and its partners' ongoing studies, including the efficacy of the Symphony tCGM System and Prelude SkinPrep System, the failure of future development and preliminary marketing efforts related to the Symphony tCGM System and Prelude SkinPrep System, Echo's ability to secure additional commercial partnering arrangements, risks and uncertainties relating to Echo's ability to develop, market and sell diagnostic and transdermal drug delivery products based on its skin permeation platform technologies, including the Symphony tCGM System and Prelude SkinPrep 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 the Symphony tCGM System and the Prelude SkinPrep 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, 2008, its quarterly reports on Form 10-Q, and its current reports on Form 8-K. Echo Therapeutics, Inc. undertakes no obligation to publicly update or revise any forward-looking statements.
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Snapshot - "ECTE is our new big biotech play for this week! Biotechs have just started to become very hot in 2010! ECTE is a transdermal medical device company developing its needle-free Symphony™ tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring (tCGM) system and its Prelude™ SkinPrep System as a platform technology for transdermal drug delivery. ECTE's technology is revolutionary and the company believes that the Symphony tCGM System will change the paradigm of invasive, needle-based, pisodic glucose testing in the diabetes consumer and hospital critical care markets to one of continuous, needle-free monitoring. ECTE believes that the Symphony system is an ideal solution for diabetics and critically ill patients allowing for continuous, pain-free monitoring of glucose levels. The most common type of Diabeties, Type II, occurs in appx. 3 - 5% of Americans under 50 and 10 - 15% in those over 50. ECTE has uptrended since mid-December and we could see ECTE continue to uptrend!"
It is important to identify stocks in an uptrend, either at the start of an uptrend or in a sustained uptrend! ECTE is now in a type of sustained uptrend where it is also reaching new 52-week highs as well!
ECTE just reached a new 52-week high and we believe we could see ECTE keep uptrending and keep reaching new 52-week highs!
ECTE shattered resistance at $1.99, which we believe is now acting as a support level as well! We believe that the timing could not be better on ECTE!
ECTE released important news on January 11th that the company completed product development work on its Prelude™ SkinPrep System.
ECTE has signed a $15 million agreement, giving Ferndale Pharmaceuticals a license to develop, market and sell Prelude for enhanced delivery of Ferndale's topical lidocaine product, LMX4, in North America and the UK. Echo received $750,000 up front and will receive $750,000 upon FDA approval, as well as $12.5 million in milestones and guaranteed minimum royalty payments. Echo will also receive a double digit royalty on net sales of the product.
The final Prelude device replaces the prototype device used in earlier clinical trials and will be tested in the near-term in a study using LMX4 lidocaine cream which should form the basis for a 510-k filing with Ferndale Pharma Group for the enhanced delivery of lidocaine. The Company believes that the addressable market for enhanced, fast acting topical lidocaine exceeds $1 billion.
We believe ECTE is a highly compelling stock that could create gains for investors over the next several trading days! ECTE has one-of-a-kind technology!
We will have more on this hot opportunity in the Biotech space! Keep up to date on ECTE within our Stock Hub and this Stock Newsletter!
Take the time to check out ECTE's Web site at www.echotx.com for more information!
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• Market opportunities for continuous glucose monitoring systems are substantial and expanding.
• A growing body of clinical research demonstrates that continuous glucose monitoring can provide short- and long-term clinical benefits, both in ambulatory and hospital settings.
• In June, 2008, The Centers for Medicare and Medicaid Services (CMS) issued billing codes for continuous glucose monitoring systems. These three new billing codes can be used by public and private healthcare providers when processing this new, breakthrough technology.
• Two key licensing agreements -- with Ferndale Pharma Group and Handok Pharmaceuticals -- affirms the potential of the Echo Therapeutics’ Prelude™ SkinPrep System.
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Six consecutive positive pilot studies in glucose monitoring to date 510-k filing in 1Q10 for Prelude with the use of lidocaine Prelude lidocaine sales offer best near-term revenue opportunity Minimum sales would reduce cash burn and move company toward cash flow positive business Revenues projected to begin during 2Q10 Pivotal trial and PMA filing for Symphony™ anticipated in 2010 for glucose monitoring Symphony™ tCGM licensed in South Korea to Handok Pharmaceuticals ---------------------------------------------
ECTE Could Be a High Growth Top-Shelf Pharmaceutical/Biotech Stock
I've mentioned that there are some stocks that perform extremely well because they are "Story Stocks" whose one-of-a-kind, unique technology is intriguing and special enough that it makes entertaining discussions for those not even involved in development-stage companies that are abundant in the OTC/OTCBB Markets. And, there are other stocks that have highly compelling reasons from a technical viewpoint that suggest a profitable breakout could put traders into outstanding profit positions. So, how does this relate to Echo Therapeutics (OTCBB: ECTE)? Simple...I believe that ECTE has both categories of trading philosophies in its corner, and that could be the ingredients for an explosive opportunity wherein the symbol could absolutely soar!
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Some nice news out this morning, look forward to catching the interview. Also looks like a nice dip for an entry point!!
quote: Patrick T. Mooney, M.D., the Company's Chairman and CEO, will be interviewed on "Steve Crowley's American Scene National Radio" on Wednesday, January 20, 2010 at 9:42 AM ET and Friday January 22, 2010 at 10:24 AM ET. Dr. Mooney also will be a regular on-air guest on American Scene twice weekly and will be interviewed by host Steve Crowley regarding relevant corporate events, news releases and updates.
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ECTE has signed a $15 million agreement, giving Ferndale Pharmaceuticals a license to develop, market and sell Prelude for enhanced delivery of Ferndale's topical lidocaine product, LMX4, in North America and the UK. Echo received $750,000 up front and will receive $750,000 upon FDA approval, as well as $12.5 million in milestones and guaranteed minimum royalty payments. Echo will also receive a double digit royalty on net sales of the product.
The final Prelude device replaces the prototype device used in earlier clinical trials and will be tested in the near-term in a study using LMX4 lidocaine cream which should form the basis for a 510-k filing with Ferndale Pharma Group for the enhanced delivery of lidocaine. The Company believes that the addressable market for enhanced, fast acting topical lidocaine exceeds $1 billion.
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18 Month High of $2.04! Volume Highest since December 2006! Highest Number of Trades for at least past year!
ECTE Receives $3.00 Price Target
Last month Boenning & Scattergood one of the oldest independent securities, asset management and investment banking firms in its region released an analyst report.
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Top 6 Highlights of ECTE's Patented Diabetes Monitoring System
The ECTE System is a non-invasive, wireless, continuous blood glucose monitoring system. The ECTE System utilizes a novel, needle-free platform technology that increases skin permeability The ECTE System is an efficient, remote monitoring platform compared to platforms using needle-based technologies for accuracy The ECTE System has a low manufacturing cost and a razor/razor blade model with a single-use consumable
The ECTE System has readings that are obtained every minute with a wireless data transmission to a portable monitor The ECTE System has a short, one-hour warm-up
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Missed the interview, going to try and catch it today...but ECTE had a nice EOD bounce!! I hope to expect to be back at 2$ here soon!
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Echo Therapeutics, Inc. (OTCBB: ECTE) hit a bottom and cruised up for a green close of 9.47%...
...and is poised to drift back towards its 52-week high of $2.15!
Hence, traders appear to be accumulating shares with the optimistic expectation of playing the rebound!
And, if it's true that the resistance is lighter now then I think ECTE is ready to make another attempt at closing over $2.00. When reviewing the resistance levels, once it moves past $1.95 it could be easier to accomplish this milestone and hopefully continue uptrending.
As for the chart, we have a bullish piercing candle pattern on the daily chart and a pincher play on the 60 minute chart.
Speaking of the daily and 60 minute chart... did you see those prints during the last two hours of trading!!?? ECTE surged upwards from $1.62 to $1.90 in about 120 minutes!
In fact, both of my top favorite indicators suggest ECTE could cruise upwards:
(1) The 20-Day Bollinger Band is $2.12...which I believe is an indication of where ECTE could move towards
(2) The 14-Day RSI is 59.32...which suggests ECTE could be "undersold"
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Life Tech Capital initiated coverage of ECTE with a Strong Speculative Buy and $4.50 Target Price...which is higher than the previous $3.00 Target Price from another analyst!
The report mentioned that "The FDA PMA approval of the Symphony™ tCGM system could occur within the forecast period and could result in a market capitalization of approximately $100 to $150 million.
"This is a discount to DexCom (Nasdaq:DXCM) (see Competition), the only pure-play comparable, which has FDA approval for their invasive, implantable biosensors with a market capitalization of approximately $460 million."
The report describes Echo's commercialization strategy, outlines the analysts' views of Echo's market opportunity, and includes the analysts' estimates for Echo's future financial performance. Echo Therapeutics is making this announcement as a service to its shareholders and is not endorsing the report nor commenting on its contents.
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Echo Therapeutics Announces Research Initiation by LifeTech Capital
PR Newswire "US Press Releases "
FRANKLIN, Mass., Jan. 22 /PRNewswire-FirstCall/ -- Echo Therapeutics, Inc. (OTC Bulletin Board: ECTE), a company developing the needle-free Symphonyâ„¢ tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring (tCGM) system and the Preludeâ„¢ SkinPrep System for transdermal drug delivery, is pleased to announce the availability of an independent research report that was issued yesterday with a "Strong Speculative Buy" recommendation and a 12 to 18 month price target of $4.50. The report is authored by Stephen M. Dunn, Senior Managing Director, Research, and William D. Dawson, Senior Vice President, Research, for LifeTech Capital, a division of Aurora Capital LLC. It can be found online at www.lifetechcapital.com/reports.htm.
The report describes Echo's commercialization strategy, outlines the analysts' views of Echo's market opportunity, and includes the analysts' estimates for Echo's future financial performance. Echo Therapeutics is making this announcement as a service to its shareholders and is not endorsing the report nor commenting on its contents.
About Echo Therapeutics
Echo is developing the Symphony tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring system for patients with diabetes and for use in hospital critical care units. Echo is also developing its needle-free Prelude SkinPrep System for transdermal drug delivery of a wide range of novel topical reformulations of widely-used, FDA-approved products.
The statements in this press release that are not historical facts 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 and its partners' ongoing studies, including the efficacy of the Symphony tCGM System and Prelude SkinPrep System, the failure of future development and preliminary marketing efforts related to the Symphony tCGM System and Prelude SkinPrep System, Echo's ability to secure additional commercial partnering arrangements, risks and uncertainties relating to Echo's ability to develop, market and sell diagnostic and transdermal drug delivery products based on its skin permeation platform technologies, including the Symphony tCGM System and Prelude SkinPrep 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 the Symphony tCGM System and the Prelude SkinPrep 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, 2008, its quarterly reports on Form 10-Q, and its current reports on Form 8-K. Echo Therapeutics, Inc. undertakes no obligation to publicly update or revise any forward-looking statements.
posted
Echo Therapeutics, Inc. (OTCBB: ECTE) hit a bottom and cruised up for a green close of 9.47%...
...and is poised to drift back towards its 52-week high of $2.15!
Hence, traders appear to be accumulating shares with the optimistic expectation of playing the rebound!
And, if it's true that the resistance is lighter now then I think ECTE is ready to make another attempt at closing over $2.00. When reviewing the resistance levels, once it moves past $1.95 it could be easier to accomplish this milestone and hopefully continue uptrending.
As for the chart, we have a bullish piercing candle pattern on the daily chart and a pincher play on the 60 minute chart.
Speaking of the daily and 60 minute chart... did you see those prints during the last two hours of trading!!?? ECTE surged upwards from $1.62 to $1.90 in about 120 minutes!
In fact, both of my top favorite indicators suggest ECTE could cruise upwards:
(1) The 20-Day Bollinger Band is $2.12...which I believe is an indication of where ECTE could move towards
(2) The 14-Day RSI is 59.32...which suggests ECTE could be "undersold"
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posted
is pleased to announce the availability of an independent research report that was issued yesterday with a "Strong Speculative Buy" recommendation and a 12 to 18 month price target of $4.50. The report is authored by Stephen M. Dunn, Senior Managing Director, Research, and William D. Dawson, Senior Vice President, Research, for LifeTech Capital, a division of Aurora Capital LLC. It can be found online at www.lifetechcapital.com/reports.htm.Posts: 598 | Registered: Mar 2005
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