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Echo Therapeutics, Inc. Announces 2011 Financial Results

nd administrative

4,905,7572,760,062Total operating expenses

8,701,8845,338,914Loss from operations

(8,254,673)(4,910,454)Other Income (Expense):Interest income (expense), net

(9,118)(36,030)Gain (loss) on extinguishment of debt/payables

(1,514)183,863Gain (loss) on disposal of assets

(1,348)-Qualified therapeutic research grant

-244,480Derivative warrant liability gain (loss)

(1,762,938)371,345Other income (expense), net

(1,774,918)763,658Net loss

(10,029,591)(4,146,796)Accretion of dividends on Series B Convertible Perpetual
Redeemable Preferred Stock

(157,733)(131,659)Deemed dividend on beneficial conversion feature of Series D Convertible Preferred Stock

(1,975,211)-Deemed dividend on warrant repricings

(4,559,761)-Net loss applicable to common shareholders

$  (16,722,296)$
(4,278,455)Net loss per common share, basic and diluted

(0.15)Basic and diluted weighted average common shares outstanding


SOURCE Echo Therapeutics, Inc.
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