The poster session presentation is being hyped by the company as the second coming. The infomation that was presented was nothing new. And the market is telling us that as well. Other than some premarket and early interest whick took the stock as high as $1.45 the stock is down into the$1. 20's on selling. So, where do we go from here? I wonder if those with expertise in the deveopment of the ecte glucose detection system see something that is not positive? Or since nothing new was presented are we back to square one with a 12-18 month horizon before hoped for FDA approval?
I first learned about echo at the beginning of the decade. I rode them down from around $10 and gave up but I always thought they were a good bio without a good product. Maybe they'll get their justice this year. This non-invasive monitoring is a wonderful technology IMHO.
It's a huge breakthrough. The technology will improve over time - but this is good enough to make investors very happy. The results weren't just good, they were through the roof.
But as an investor in small cap biotechs, I know that patience and timing are important. So I don't know if we'll go lower from here. We may or may not. But even if we do, I am expecting EU approval and to see the stock price as a minimum of $3 per share in 2013. Hopefully much more.
I think that it has come down to everyone is waiting and acquiring slowly. The excitement of a buyout or things of that sort have not been present. The team is in place, the product is about ready, the plan is in place, but the game hasn't started yet. I think that when it does, it will move so fast that anyone that is not on the field will not have much of a chance. Patience is the key here. I acquire on pullbacks and wait. Yes, waiting is hard
Don't wait for FDA approval which will take time. Near term catalyst is EU approval and even before that clarity on what is needed for that approval. Since all that is within the next 3 quarters the stock is already showing life.