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

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3,876,3143,209,986CommitmentsStockholders' Equity:Perpetual redeemable preferred stock, Series B

22Convertible preferred stock, Series C & D

35,10949Common stock

339,798311,264Additional paid-in capital

87,661,22679,646,385Common stock subscribed for but not paid for or issued

-285,000Accumulated deficit

(78,077,371)  (71,540,416)  Total stockholders' equity

9,958,7648,702,284Total liabilities and stockholders' equity

$   13,835,078$   11,912,270Condensed Consolidated Statements of OperationsThree Months EndedJune 30,Six Months EndedJune 30,2011201020112010Licensing revenue

$
21,455$
7,599$
242,910$
81,571Other revenue

37,06596,520145,15296,520Total revenues

158,520264,119388,062278,091Operating Expenses:Research and development

996,149564,6161,862,0991,678,101Selling, general and administrative

978,150610,8751,900,2651,888,498Total operating expenses

1,974,2991,175,4913,762,3643,566,599Loss from operations

(1,815,779)  (911,372)  (3,374,302)  (3,288,508)  Other Income (Expense):Interest income (expense), net

606(137)  (10,065)  (535)  Gain (loss) on extinguishment of debt/payables

--(1,514)  200,000Gain (loss) on disposals of assets

(2,531)  -834-Derivative warrant liability gain (loss)

(122,011)  375,948(3,151,908)  671,936Other income (expense), net

(123,936)  375,811(3,162,653)  871,401Net loss

(1,939,715)  (535,561)  (6,536,955)  (2,417,107)  Accretion of dividends on Convertible Perpetual
Redeemable Preferred Stock

(47,558)  (28,815)  (93,242)  (56,674)  Deemed dividend on beneficial conversion feature of
Series D Convertible Preferred Stock

-  -(1,975,211)  -Net loss applicable to common shareholders

$  (1,987,273)  $  
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SOURCE Echo Therapeutics, Inc.
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