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Echo Therapeutics Announces Third Quarter 2011 Financial Results
Date:11/8/2011

Prelude are key components of our intellectual property portfolio," commented Patrick T. Mooney, M.D., Chairman and Chief Executive Officer of Echo Therapeutics. "We continue to remain focused on bringing the Symphony System closer to commercialization as we head toward major catalysts this quarter and early next year."

Financial Results for the Nine Months Ended September 30, 2011For the nine months ended September 30, 2011, Echo reported approximately $344,000 in total revenues compared to $325,000 in total revenues in the first nine months of 2010. Operating expenses increased by 32% to $6.0 million, compared to $4.5 million during the first nine months of 2010. This increase included a 22% increase in research and development expense and a 41% increase in selling, general and administrative expense. The net loss for the first nine months of 2011 was approximately $7.9 million, or ($0.30) per common share, compared to a net loss of $3.0 million, or ($0.11) per common share, for the same period in the prior year.  The Company completed the quarter with cash of approximately $2.3 million.

About Echo TherapeuticsEcho Therapeutics is developing the Symphony tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring system for patients with diabetes and for use in hospital critical care units.  Echo is also developing its needle-free Prelude SkinPrep System as a platform technology for enhanced skin permeation for delivery of topical pharmaceuticals.

Cautionary Statement Regarding Forward Looking StatementsThe statements in this press release that are not historical facts may constitute forward-looking statements that are based on current expectations and are subject to risks and uncertainties that could cause actual future results to differ materially from those expressed or implied by such statements. Those risks and uncertainties include, but are not limited to, risks related to regulatory approvals a
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SOURCE Echo Therapeutics, Inc.
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