Healthcare shares are flat in pre-market trade.
Echo Therapeutics ( ECTE ) is up about 23% this morning after it says it will enter into a strategic collaboration agreement with Medical Technologies Innovation Asia, Ltd., Hong Kong, for a license arrangement and equity investment in Echo.
Under the terms of the License, Development and Commercialization Agreement, dated December 9, 2013, between MTIA and Echo, Echo granted MTIA rights to develop, manufacture, market and distribute Echo's Symphony CGM System on an exclusive basis.
And Avanir Pharmaceuticals Inc. ( AVNR ) has been downgraded by analysts at Mizuho Securities to a Neutral rating from a Buy. The firm slashed the price target on the stock by more than half to $5 from $11.
Shares of AVNR have tumbled 11.19% to $3.81 in pre-market trading, and have a 52-week range of $2.34 - $6.
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