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Echo Therapeutics Announces Second Quarter 2012 Financial Results
Date:8/10/2012

PHILADELPHIA, Aug. 10, 2012 /PRNewswire/ -- Echo Therapeutics, Inc. (Nasdaq: ECTE), a company developing its needle-free Symphony® tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring system and its Prelude® SkinPrep System for transdermal drug delivery, today announced financial results for the quarter ended June 30, 2012. Echo's Quarterly Report on Form 10-Q, as filed with the SEC, is available through Echo's website at www.echotx.com.

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Recent Corporate Highlights

  • Echo announced that Platinum-Montaur Life Sciences, LLC will provide the Company a credit facility of up to $20 million.  This transaction will provide the Company with significant, yet flexible, financial resources to fund its development and growth plans.
  • Echo announced positive results from its clinical study conducted at Thomas Jefferson University Hospital in Philadelphia, Pennsylvania.  This study is the second of two studies in critically ill patients that demonstrated that Symphony successfully and continuously monitored glucose levels in the intensive care unit.
  • Echo signed an amended license agreement with Ferndale Pharma Group, Inc. that expanded the territory in which Ferndale can develop, market and sell Prelude for needle-free skin preparation prior to the application of topical 4% lidocaine cream.
  • Echo was included in the Russell Microcap® Index when Russell Investments rebalanced its family of U.S. indexes.  A company's membership in the Russell Microcap Index, which remains in place for one year, means that it is automatically included in the appropriate growth and value style indexes.
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