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Echo Therapeutics Announces Second Quarter 2011 Financial Results
Date:8/12/2011

ith Echo's CEO, Dr. Patrick Mooney, was posted on May 31, 2011.  On June 8, 2011, Dr. Stanley Nasraway, Director of the Surgical Intensive Care Units at Tufts Medical Center and ICU glycemic control thought leader discussed Echo's Symphony tCGM System in his BioMedReports article, "Tight Glycemic Control: What do we really know, and what should we expect?"
  • Echo's common stock began trading on The NASDAQ Capital Market on June 29, 2011. Echo continues to trade under the ticker symbol "ECTE."
  • Equity research coverage of Echo was initiated by Morgan Joseph TriArtisan, JMP Securities, Feltl and Company, Chardan Capital Markets, and Noble Financial Capital Markets.

  • "Our progress during the first half of 2011 is exemplified by the continued advancement of our Symphony tCGM System, the appointment of Chris Schnittker as Chief Financial Officer, and the move to Nasdaq," commented Patrick T. Mooney, M.D., Chairman and Chief Executive Officer of Echo Therapeutics. "As we head into the second half of the year, our focus is to drive Symphony through clinical trials and, ultimately, to the market.  With several important milestones still ahead, we look forward to continued progress and increased shareholder value."

    First Quarter 2011 Financial ResultsFor the six months ended June 30, 2011, Echo reported approximately $243,000 in licensing revenue compared to $182,000 revenue in the first half of 2010. The company increased operating expenses by 5% to $3.8 million compared to $3.6 million during the first half of 2010. This increase included an 11% increase in research and development and almost no change in selling, general and administrative expenses. The net loss and ne
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    SOURCE Echo Therapeutics, Inc.
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