Major Shareholder Wants Changes at Echo Therapeutics

Echo Therapeutics Inc. responded to questions raised by a large shareholder by reiterating its position that the company continues to consider and seek to enter into collaborations or licenses regarding the future development and distribution of its products. Platinum-Montaur Life Sciences of New York sent the Philadelphia medical device company a letter a week ago in which it expressed concerns about the company stock price, which it noted has dropped by about 95 percent in the past two years. Platinum-Montaur and its affiliated funds hold about 20 percent of Echo’s common stock.

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