New Lifetech Capital report out - Near Term Capital Raise expected
Capital Raise Soon – Expect Near-Term Volatility: While our target price is for the long-term, we caution investors that Echo Therapeutics will be required to raise additional funds soon and is expected to result in near-term share price volatility. Long-term investors should remain focused on the fact that data from multiple feasibility studies for Symphony was shown to be consistent and accurate across patients and clinical sites. Feedback from Key Opinion Leaders, including on-the-record statements made at last year’s FDA workshop on hospital continuous glucose monitoring, provides evidence of both the clinical need and healthcare demand for this technology. Furthermore, Medtronic’s (NYSE:MDT) recent European CE Mark approval of their Sentrino® CGM system for use in hospital critical care units (CCU) demonstrates that regulatory approval can be achieved. In addition, Medtronic’s Sentrino sensor requires an invasive penetrating wire versus Echo’s Symphony system which uses a non-invasive transdermal sensor, we believe Symphony would be especially attractive to European health authorities.