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Echo Therapeutics Announces First Quarter 2013 Financial Results
Date:5/10/2013

>

10,56610,566Total assets

$
21,648,246$
20,021,592LIABILITIES AND STOCKHOLDERS' EQUITYCurrent Liabilities:Accounts payable

$
,499,294$
2,319,219Deferred revenue from licensing arrangements

67,67190,228Capital lease obligations, current portion

2,5912,527Derivative warrant liability

3,904,1555,585,141Accrued expenses and other liabilities

1,759,5371,581,448Total current liabilities

7,233,2489,578,563Deferred revenue, note payable and capital lease obligation, net of current portion 

90,917212,423Total liabilities

7,324,1659,790,986CommitmentsStockholders' Equity:Convertible preferred stock, Series C & D

30,16030,160Common stock

602,449443,737Additional paid-in capital

114,581,812103,658,724Accumulated deficit

(100,890,340)(93,902,015)Total stockholders' equity

14,324,08110,230,606Total liabilities and stockholders' equity

$
21,648,246$
20,021,592Condensed Consolidated Statements of OperationsThree Months Ended March 31,20132012Licensing revenue

$
22,557$
30,927Total revenues

22,55730,927Operating Expenses:Research and development

3,219,7231,391,645Selling, general and administrative

2,299,4471,859,404Total operating expenses

5,519,1703,251,049Loss from operations

(5,496,613)(3,220,122)Other Income (Expense):Interest income (expense), net

(3,172,698)2,809Gain on revaluation of derivative warrant liability

1,680,986231,543Other income (expense), net

(1,491,712)234,352Net loss

(6,988,325)(2,985,770)Net loss per common share, basic and diluted

$
(0.13)$
(0.08)Basic and diluted weighted average common shares outstanding

53,734,76738,742,976
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SOURCE Echo Therapeutics, Inc.
Copyright©2012 PR Newswire.
All rights reserved

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