The 21st Century Stocks & Sectors page highlights undiscovered micro-cap companies – typically low-priced companies with market caps of 500 million or less in three key sectors we believe are headed for substantial growth over the next decade: (1) Healthcare; (2) Internet and IT; and (3) energy and environmentally clean technology. Micro-cap companies typically lack Wall Street analyst coverage, and are inefficiently priced and/or often thinly trading the proverbial “tree in the forest.”
We are adding Echo Therapeutics ($ECTE: Nasdaq) to our watch list and have added a landing page for ECTE on our website’s Stocks & Sectors section under Health Care. Echo Therapeutics, Inc. (Echo) is a medical device and specialty pharmaceutical company. It is developing a non-invasive, wireless, transdermal continuous glucose monitoring (tCGM) system for use in clinical settings and for people with diabetes together with a range of transdermal reformulations of specialty pharmaceutical products previously approved by the United States Food and Drug Administration (FDA). Echo’s platform for needle-free drug delivery and a wireless biosensor is a game changer that gives Echo a shot at the $10 billion market of diabetes monitoring.
The Company recently announced that the Company’s partner, Ferndale Pharma Group, LLC, received comments from the U.S. Food and Drug Administration (FDA) on the 510(k) submission of the Prelude SkinPrep System that were deemed minor and were consistent with both companies’ expectations. Echo anticipates that the comments will be addressed quickly and that the planned commercial launch date for the product will remain on track, pending FDA clearance.
As a result of the feedback from the FDA, the Company is accelerating the final Prelude manufacturing validation and scale-up in order to prepare for commercial launch. Management of the Company believes that Prelude could receive market clearance and start generating revenues in the 2nd quarter of 2012. In January, Echo Therapeutics disclosed that it has completed a $6.5 million of financing at $2.25, and its shares were recently was accepted for listing on Nasdaq. The Company was picked up last week by Northland Securities, who initiated coverage with an outperform rating and a 12 month target of $4.00 per share. ECTE closed Monday at $1.83 up 3.39 % or $.06 on the day.
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