ECHTA.....SNUS had similar news about FDA and stock went from .50 to 2.50 in one
day....float 8 mil
ECHTA float is 500k!!! look at what the Director (insider) paid for 1.3 mil shares. $0.75!!
biz.yahoo.com
EchoCath's Portable Blood Velocity Measurement System Receives FDA 510K Clearance-To-Market
PRINCETON, N.J.--(BUSINESS WIRE)--March 26, 2001--EchoCath, Inc. (NASD-OTC:ECHTA) announced today it has been granted permission by the U.S. Food and Drug Administration to market its EchoFlow(TM) battery powered, portable blood velocity measurement system (EchoFlow PEF-1).
EchoFlow PEF-1 is a battery powered and portable angle-independent blood velocity measuring system that enables physicians to evaluate and quantify blood flow in vessels using ultrasound technology. Blood velocity is an important parameter of circulatory system health. In addition to EchoCath's EchoFlow(TM) BVM-1 system designed for use in the operating room for blood velocity measurement, the EchoFlow(TM) PEF-1 extends the usefulness of EchoCath's proprietary ultrasound technology. Intensive care units, dialysis facilities and clinics are areas of hospitals where physicians have had the need for accurate blood velocity measurement but have not had cost
effective readily available equipment. The EchoFlow(TM) PEF-1 system addresses these needs.
EchoCath President, Frank DeBernardis commented, ``We are pleased that surgeons who have been using our EchoFlow(TM) BVM-1 in clinical evaluations have been impressed with the systems and have identified a number of applications for the technology outside of the operating room. The EchoFlow(TM) PEF-1 is EchoCath's response to their input.'' The Company will be exhibiting this technology at the Society for Clinical Vascular Surgery 29th Annual Symposium in Boca Raton, Florida on April 5-7th.
Certain statements herein constitute ``forward-looking statements'' within the meaning of the Private
Securities Litigation Reform Act of 1995, including without limitation statements regarding
acceptability by vascular surgeons and physicians of the Company's technology. Such
forward-looking statements involve known and unknown risks, uncertainties and other factors which
may cause the actual results, performance or achievements of the Company to be materially different
from any future results, performance or achievements expressed or implied by such forward-looking
statements. Such factors include, among others, the following: limited commercial operations; no
assurances of success; need for additional financing; uncertainty of market acceptance; failure to
receive or delays in receiving regulatory approval; lack of a distribution channel for the Company's
products; and limitations on third party reimbursement. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date hereof.
Contact:
EchoCath, Inc.
Frank DeBernardis, 609/987-8400 |
