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Echo Therapeutics Initiates Clinical Trial of its Symphony Continuous Glucose Monitoring System
PHILADELPHIA, Sept. 8, 2011 Echo Therapeutics, Inc. (Nasdaq: ECTE), a company developing the Symphony(TM) tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring (tCGM) system and the Prelude(TM) SkinPrep System for transdermal drug delivery, today announced that it is initiating a clinical study of its Symphony tCGM System. The company expects to complete and announce the results of the study in the near-term.
"Initiating the clinical study of this next generation Symphony System is an important milestone for Echo that represents the steady execution of our objectives in pursuit of FDA approval. We are enthusiastic about Symphony’s potential based on the results of our six previous trials," said Patrick T. Mooney, M.D., Chairman and CEO of Echo Therapeutics. "We are very excited about our significant development progress thus far, and we look forward to making additional progress with Symphony this year."
Echo’s clinical study will enroll healthy volunteer subjects and will compare data obtained from its Symphony tCGM System with both the YSI 2300 STAT Plus Glucose Analyzer and a commercially available professional-use glucometer. The study will collect more than 900 data pairs to be used in the analyses by taking frequent reference glucose measurements for 24 hours. The study data will be blinded to study subjects and study personnel. A comparison of the data relative to the blood glucose values will determine the accuracy of Symphony.
Upon completion of this study, Echo plans to conduct a study in patients with diabetes early in the fourth quarter.
About Continuous Glucose Monitoring (CGM)
Continuous glucose monitoring has the potential to help plan diabetes treatment, guide day-to-day choices about diet, exercise and insulin use, and avoid unwanted low blood glucose (hypoglycemia) and high blood glucose (hyperglycemia) events and the complications that they can cause. Blood glucose levels are affected by many factors such as the carbohydrate and fat content of food, exercise, stress, illness, and variability in insulin absorption among others; therefore, it is often challenging for diabetes patients to avoid frequent and unpredictable excursions above or below normal glucose levels. Patients are often unaware that their glucose levels are either too high or too low, resulting in their inability to control their glucose levels and prevent the complications associated with unwanted glucose excursions.
About Echo Therapeutics
Echo Therapeutics is developing the Symphony tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring system for patients with diabetes and for use in hospital critical care units. Echo is also developing its needle-free Prelude SkinPrep System as a platform technology for enhanced skin permeation for delivery of topical pharmaceuticals.
Cautionary Statement Regarding Forward Looking Statements
The statements in this press release that are not historical facts may constitute forward-looking statements that are based on current expectations and are subject to risks and uncertainties that could cause actual future results to differ materially from those expressed or implied by such statements. Those risks and uncertainties include, but are not limited to, risks related to regulatory approvals and the success of Echo’s and its partners’ ongoing studies, including the safety and efficacy of Echo’s Symphony tCGM and Prelude SkinPrep Systems, the failure of future development and preliminary marketing efforts related to Echo’s Symphony tCGM and Prelude SkinPrep Systems, Echo’s ability to secure additional commercial partnering arrangements, risks and uncertainties relating to Echo’s and its partners’ ability to develop, market and sell diagnostic and transdermal drug delivery products based on its skin permeation platform technologies, including the Symphony tCGM and Prelude SkinPrep Systems, the availability of substantial additional equity or debt capital to support its research, development and product commercialization activities, and the success of its research, development, regulatory approval, marketing and distribution plans and strategies, including those plans and strategies related to its Symphony tCGM and Prelude SkinPrep Systems. These and other risks and uncertainties are identified and described in more detail in Echo’s filings with the Securities and Exchange Commission, including, without limitation, its annual report on Form 10-K for the year ended December 31, 2010, its quarterly reports on Form 10-Q, and its current reports on Form 8-K. Echo undertakes no obligation to publicly update or revise any forward-looking statements.
SAND Technology Completes $1,000,000 Financing
MONTREAL, Sept. 8, 2011 SAND Technology Inc. (OTCBB: SNDTF), provider of the world’s most advanced column store database, today announced the execution of a subscription agreement with three investors pursuant to which the investors subscribed to $1 million principal amount of promissory notes and 500,000 warrants for gross aggregate proceeds of CDN$1 million to the company.
The promissory notes will mature on November 30, 2011 and will bear interest at an annual rate of 15% compounded annually, payable in cash, with 3 months of interest to the maturity date being paid upon closing as a prepayment of said interest. The company may, at its option, repay all or any of the outstanding principal prior to the maturity date.
Each warrant will entitle the holder thereof to purchase one common share of the company for a purchase price of USD$0.50 for a term of 3 years until September 7, 2014.
The proceeds from the financing will improve the cash position of the company and will be used for general corporate purposes, including working capital.
About SAND Technology
SAND is the world’s most advanced analytic database, managing massive amounts of big data, driving unparalleled performance, and deploying information to tens of thousands of concurrent users across the enterprise. With industry-leading software solutions for CRM and Loyalty, and having achieved "Certified for SAP NetWeaver" status and "Powered by SAP NetWeaver" status, SAND delivers best-of-bread analytic performance to over 600 customers around the world. SAND Technology has offices in the United States, Canada, Western and Central Europe, and Australia and can be reached online at
Forward-Looking Statements
Certain statements contained in this press release are "forward looking statements" within the meaning of the United States Securities Act of 1933 and of the United States Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995 or as "forward looking information" under Canadian securities legislation (collectively, "forward looking statements"). The forward-looking statements are intended to be subject to the safe harbour protection provided by these Acts. We have based these forward-looking statements on our current expectations and projections about future results, levels of activity, events, trends or plans. Such forward-looking statements are not guarantees and by their nature are subject to known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of SAND to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. All forward looking statements included in this press release are based on current expectations and on information available to SAND on the date of this press release. For a more detailed discussion of these risks and uncertainties and other business risks, see SAND’s current Annual Report and SAND’s reports to the Securities and Exchange Commission (filed on EDGAR and the Canadian securities authorities (filed on SEDAR at You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. Except as required by applicable laws, we undertake no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated events.
Cortex Announces Revised Date for CEO Presentation at Rodman & Renshaw’s 13th Annual Healthcare Conference on September 12, 2011
IRVINE, Calif. 9-9-2011 Cortex Pharmaceuticals, Inc. (OTCBB: CORX) President and CEO, Mark A. Varney, Ph.D., will present at Rodman & Renshaw’s 13th Annual Healthcare Conference at 4:55 PM (EST) on Monday, September 12, 2011 in the Starlight North Salon at the Waldorf=Astoria Hotel in New York City.
Dr. Varney will discuss the application of CX1739 in the treatment of central sleep apnea (CSA) in Congestive Heart Failure (CHF) patients. Studies have shown that approximately 30% – 40% of CHF patients have CSA and that these patients have considerably poorer cardiac function and far worse outcomes than patients without CSA. Cortex has shown both in animals and human studies that AMPAKINE drugs can positively impact the respiratory rhythm generator in the brain stem and impact central apneas. Dr. Varney also will highlight the product pipeline and clinical plans for Cortex. Additional information regarding the conference can be found access a live audio webcast or the subsequent archived recording, log on to Please connect to the website several minutes prior to the start of the live webcast to ensure adequate time for any software download that may be necessary. An archive of the replay will be available for ninety days at
Cortex Pharmaceuticals, Inc.
Cortex, located in Irvine, California, is a clinical-stage neuroscience company focused on the discovery, development and commercialization of a novel class of glutamate modulators called AMPAKINE compounds, which have been shown to enhance impaired breathing by stimulation of AMPA-type glutamate receptors in neurons in the brain stem. AMPAKINE compounds also represent a novel approach for improving impaired cognition associated with low levels of glutamate neurotransmission commonly associated with mental disorders and neurological diseases. These deficits are improved by AMPAKINE modulators to amplify glutamatergic communication between brain cells. For additional information regarding Cortex, please visit the Company’s website at
Forward-Looking Statement
Note- This press release contains forward-looking statements concerning the Company’s research activities. These statements are based on the Company’s current beliefs and expectations. The success of such activities depends on a number of factors, including the risks that the Company’s proposed products may at any time be found to be unsafe or ineffective for any or all of their proposed indications. As discussed in the Company’sSecurities and Exchange Commission filings, the Company’s proposed products will require additional research, lengthy and costly preclinical and clinical testing and regulatory approval. AMPAKINE compounds are investigational drugs and have not been approved for the treatment of any disease. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this press release. The Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.
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