Technical Trading Alert for Echo Therapeutics (OTC:ECTE.OB)
MivInvestments Inc. has initiated an independent bullish technical trading alert for 11/20/09 on Echo Therapeutics, Inc. (OTC:ECTE.OB). Shares of the company finished the day at $1.35, up 8.15% from the opening bell on heavy buying pressure. The excitement was due to the announcement on positive results of a clinical study testing symphony(TM) tCGM System in Patients with Type 1 and Type 2 Diabetes. Despite the fact that there has been a recent common shares financing scheduled, companies usually take their time and let the price consolidate before engaging in these activities, thus a short-term buy could be a smart investment. Towards the end of this alert a technical analysis will also be issued.
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 health care 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.
About Echo Therapeutics, Inc.
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 acute and critical care. Echo’s non-invasive Symphony tCGM System consists of its Prelude SkinPrep System, which incorporates patented and leading-edge skin ablation control technology, and wireless transmission and proprietary transdermal biosensor technologies. Echo’s Symphony tCGM System is designed to provide both diabetes and hospital patients with a reliable, needle-free, easy-to-use, affordable and comfortable-to-wear continuous glucose monitoring device. 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 full special report on the company appears today at http://www.stockshaven.com/technical-trading-alert-for-echo-therapeutics-otcecte-ob/
Disclosure: Long ECTE
To feature your publicly traded company in StocksHaven.com Alerts or as a fully profiled company, email us at firstname.lastname@example.org or visit http://www.stockshaven.com/ir_contract/ for more info
About MiV Investments Inc.
MiV Investments Inc. can be found at StocksHaven.com. It is a company offering a news portal covering the world financial news and equities sector. It features its own blog, free level 2 quotes, two way linking capability, mass e-mail distribution alerts, stock research reports, conference calls, news feeds, mailing list, videos, press release capability, stock commentaries, company reviews and other unique content including expert stock analysis from Michael Vlaicu. The company also offers Investor Relations contracting services.
For more financial and investment news, visit www.StocksHaven.com
Certain sections of this report contain forward-looking statements that are based on our reporters’ expectations, estimates, projections and assumptions. Words such as “expects,” “anticipates,” “plans,” “believes,” “scheduled,” “estimates” and variations of these words and similar expressions are intended to identify forward-looking statements, which include but are not limited to projections of revenues, earnings, segment performance, cash flows, contract awards, FDA announcements, trial and drug approvals, and company stability. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors including but not limited to the status or outcome of legal and/or regulatory proceedings.
All forward-looking statements speak only as of the date of this report or, in the case of any document incorporated by reference, the date of that document. All subsequent written and oral forward-looking statements attributable to the company or any person acting on the company’s behalf are qualified by the cautionary statements in this section. StocksHaven.Com on behalf of MiV Investments Inc. does not undertake any obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this report.
- Contact Information
- Michael Vlaicu
- President & CEO
- MiV Investments Inc.
- Contact via E-mail
This news content may be integrated into any legitimate news gathering and publishing effort. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.