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

strategies, including those plans and strategies related to its Symphony tCGM and Prelude SkinPrep Systems. These and other risks and uncertainties are identified and described in more detail in Echo's filings with the Securities and Exchange Commission, including, without limitation, its annual report on Form 10-K for the year ended December 31, 2010, its quarterly reports on Form 10-Q, and its current reports on Form 8-K. Echo undertakes no obligation to publicly update or revise any forward-looking statements.

For More Information:
Christine Olimpio
Director, Corporate Communications
(215)717-4100Connect With Us:- Visit our website at www.echotx.com

- Follow us on Twitter at www.twitter.com/echotx

- Join us on Facebook at www.facebook.com/echotxEcho Therapeutics, Inc.Condensed Consolidated Balance SheetsJune 30,2011December 31,2010ASSETS(Unaudited)Current Assets:Cash and cash equivalents

$   3,199,661$   1,342,044Restricted cash

393,750-Other current assets

315,872621,693Total current assets

3,909,2831,963,737Net property and equipment (including assets under capitalized leases)

280,23048,034Other Assets:Intangible assets, net of accumulated amortization

9,625,0009,625,000Restricted cash, deposits and other assets

20,565275,499Total other assets

9,645,5659,900,499Total assets

$  13,835,078$  11,912,270LIABILITIES AND STOCKHOLDERS' EQUITYCurrent Liabilities:Accounts payable

$
430,289$
5,634Deferred revenue

244,724405,454Derivative warrant liability

2,526,1771,544,996Accrued expenses and other liabilities

670,063565,546Total current liabilities

3,871,2533,121,630Deferred revenue, notes payable and capital lease obligation, net of current portion

5,06188,356Total liabilities'/>"/>

SOURCE Echo Therapeutics, Inc.
Copyright©2010 PR Newswire.
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