Biotech Values

[DewDiligence]

ECTE suspends operations:

http://finance.yahoo.com/news/echo-therapeutics-suspends-operations-conserve-224000492.html

Echo Therapeutics, Inc., a medical device company, today announced that, as it believes that its current liquidity is insufficient to fund its needs beyond September 30, 2014, it has suspended its product development, research, manufacturing and clinical programs and operations to conserve its liquidity and capital resources.

…Any resumption of operations would be dependent on Echo being able to secure additional third-party funding [duh]. However, no assurances can be given that Echo will be able to secure funding that will be sufficient to enable Echo to resume its operations. Additionally, other recent events, such as the lawsuits filed or threatened by Platinum and its affiliates and the continuing campaign by Platinum to damage Echo, its prospects and its relationships with its vendors and employees, have caused, and are expected to continue to cause, a significant liquidity strain on Echo.

The share price was down 70% in the AH session.