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Echo Therapeutics Announces Third Quarter 2013 Financial Results
Date:11/7/2013

PHILADELPHIA, Nov. 7, 2013 /PRNewswire/ -- Echo Therapeutics, Inc. (Nasdaq: ECTE), a medical device company developing its Symphony® CGM System as a non-invasive, wireless continuous glucose monitoring system, today announced its financial results for the quarter ended September 30, 2013. Echo's Quarterly Report on Form 10-Q, when filed with the SEC, will be available by visiting the Investors section of Echo's website at www.echotx.com.

Recent Corporate Highlights

  • Echo continued to enroll patients in its multi-center clinical trial of its Symphony CGM System in surgical patients in hospital critical care units.  The Company expects to complete the study in the fourth quarter, and will subsequently submit the CE Mark Technical File for marketing approval in Europe.
  • Echo received comments from the U.S. Food and Drug Administration (FDA) Center for Devices and Radiological Health on the pre-submission package that was filed in June 2013. Subsequent to the end of the third quarter, the Company met with the FDA to obtain guidance regarding the regulatory pathway for Symphony. Based on the FDA's comments and Echo's preliminary statistical analysis, the Company believes the FDA Pivotal Trial will have a sample size of 250-350 patients. Echo also plans to submit an Investigational Device Exemption, or IDE, for a Clamping Study to manipulate glucose levels on healthy volunteers to provide the Company with additional data to support its eventual Premarket Approval, or PMA, submission.
  • Robert F. Doman was appointed Echo's Executive Chairman and Interim Chief Executive Officer, effective August 26, 2013.
  • At the end of the third quarter, Echo implemented a number of substantial cost reduction initiatives aimed at reducing operating costs, particularly marketing and manufactur
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  • SOURCE Echo Therapeutics, Inc.
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