Navigation Links
Echo Therapeutics Announces Warrant Exercise by Its Largest Shareholder
Date:11/2/2011

PHILADELPHIA, Nov. 2, 2011 /PRNewswire/ -- Echo Therapeutics, Inc. (Nasdaq: ECTE), a company developing the Symphony® tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring (tCGM) system and the Prelude® SkinPrep System for transdermal drug delivery, announced that the Company entered into an agreement with its largest shareholder, Platinum Partners, in which Platinum exercised warrants with an exercise price of $1.7 million. In lieu of delivering cash for the warrant exercises, Platinum surrendered all of the outstanding Series B Perpetual Preferred Stock as full payment for the warrant exercise.  

After this transaction, the Company no longer has any Series B redemption obligation and has no outstanding Series B stock.

The terms of the Series B stock required the Company to use proceeds from certain licensing and financing transactions to redeem outstanding Series B stock.  As the sole holder of the Series B stock, Platinum on several occasions waived the redemption requirement in order to allow the Company to conserve cash from its financing activities and continue to advance its product development.

"This transaction is a very positive event for the Company and its shareholders.  We have now accomplished two additional major goals of our capital structure clean up efforts.  First, we have eliminated numerous warrants which represented both complexity and overhang.  Second, a major driver in our decision to eliminate the Series B stock at this time was to extinguish the requirement that proceeds from financing transactions be used to pay down preferred stock obligations," said Patrick T. Mooney, M.D., Chairman and CEO of Echo Therapeutics.  "This transaction affords us greater financial control and flexibility to invest future cash flows solely to support our growth. We are very pleased that
'/>"/>

SOURCE Echo Therapeutics, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Page: 1 2 3

Related medicine technology :

1. Telik Announces Ezatiostat (Telintra®) Preclinical Presentation at the 2011 AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics
2. Pearl Therapeutics Presents New Scientific Evidence Supporting Versatility of Its Novel Cosuspension MDI Platform
3. Halozyme Therapeutics Announces Positive Results From Enzyme-Augmented Insulin Pump Trial
4. Pneumonia Therapeutics - Pipeline Assessment and Market Forecasts to 2018
5. Epilepsy Therapeutics - Pipeline Assessment and Market Forecasts to 2018
6. Osteoarthritis Therapeutics - Pipeline Assessment and Market Forecasts to 2018
7. Osteoporosis Therapeutics - Pipeline Assessment and Market Forecasts to 2018
8. Central Nervous System Disorders Therapeutics Market to 2017 - Multiple Sclerosis, Major Depressive Disorder and Schizophrenia Accounted for Half the Market Value in 2010
9. Cell Therapeutics Resubmits Pixantrone NDA to FDA for Consideration of Accelerated Approval
10. Halozyme Therapeutics to Present Data on PEGPH20 at the Upcoming 2011 EORTC-NCI-ASCO Annual Meeting
11. Cell Therapeutics, Inc. (CTI) to Present at 10th Annual BIO Investor Forum
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/15/2014)... , Jan. 15, 2014 The Cadence Fitness & ... Center by the Medical Fitness Association, a non-profit organization ... their full potential. The Cadence Fitness & Health Center ... suburbs and second in the Chicagoland area. ...
(Date:1/15/2014)... NEW YORK , Jan. 15, 2014 ... research report is available in its catalogue: ... - India Drug Forecast and Market Analysis ... PharmaPoint: Atopic Dermatitis - India ...
(Date:1/15/2014)... , Jan. 15, 2014 Reportlinker.com ... report is available in its catalogue: ... and Technologies for Advanced Drug Delivery ... Administration http://www.reportlinker.com/p01941928/Global-Markets-and-Technologies-for-Advanced-Drug-Delivery-Systems----Focus-on-Routes-of-Administration.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Drug_Delivery_Technology ...
Breaking Medicine Technology:Cadence Fitness & Health Center Certified as Medical Fitness Facility 2Cadence Fitness & Health Center Certified as Medical Fitness Facility 3PharmaPoint: Atopic Dermatitis - India Drug Forecast and Market Analysis to 2022 2PharmaPoint: Atopic Dermatitis - India Drug Forecast and Market Analysis to 2022 3PharmaPoint: Atopic Dermatitis - India Drug Forecast and Market Analysis to 2022 4PharmaPoint: Atopic Dermatitis - India Drug Forecast and Market Analysis to 2022 5Global Markets and Technologies for Advanced Drug Delivery Systems -- Focus on Routes of Administration 2Global Markets and Technologies for Advanced Drug Delivery Systems -- Focus on Routes of Administration 3Global Markets and Technologies for Advanced Drug Delivery Systems -- Focus on Routes of Administration 4Global Markets and Technologies for Advanced Drug Delivery Systems -- Focus on Routes of Administration 5Global Markets and Technologies for Advanced Drug Delivery Systems -- Focus on Routes of Administration 6Global Markets and Technologies for Advanced Drug Delivery Systems -- Focus on Routes of Administration 7Global Markets and Technologies for Advanced Drug Delivery Systems -- Focus on Routes of Administration 8Global Markets and Technologies for Advanced Drug Delivery Systems -- Focus on Routes of Administration 9Global Markets and Technologies for Advanced Drug Delivery Systems -- Focus on Routes of Administration 10Global Markets and Technologies for Advanced Drug Delivery Systems -- Focus on Routes of Administration 11Global Markets and Technologies for Advanced Drug Delivery Systems -- Focus on Routes of Administration 12Global Markets and Technologies for Advanced Drug Delivery Systems -- Focus on Routes of Administration 13Global Markets and Technologies for Advanced Drug Delivery Systems -- Focus on Routes of Administration 14Global Markets and Technologies for Advanced Drug Delivery Systems -- Focus on Routes of Administration 15Global Markets and Technologies for Advanced Drug Delivery Systems -- Focus on Routes of Administration 16
... 28, 2011 Burg Simpson Eldredge Hersh & Jardine, P.C., ... delighted to announce that shareholder, Seth. A. Katz, has been ... a member of the Plaintiffs, Steering Committee in the multidistrict litigation ... ASR XL Acetabular Hip System. In August 2010, ...
... 28, 2011 Awarepoint Corporation, a privately held ... with 91 hospital sites contracted consisting of 45,062,013 ... network coverage in U.S. hospitals and 135,265 healthcare ... enterprise-wide U.S. hospital client base for RTLS in ...
Cached Medicine Technology:Burg Simpson Leads National Litigation Against DePuy Orthopaedics, Inc. 2Awarepoint Announces RTLS in Healthcare Leadership with 2010 Results 2Awarepoint Announces RTLS in Healthcare Leadership with 2010 Results 3Awarepoint Announces RTLS in Healthcare Leadership with 2010 Results 4
(Date:4/17/2014)... the April issue of Experimental Biology and ... Drs. Rex Gaskins and Paul Kenis in the ... of the University of Illinois Urbana-Champaign describe their ... reactions underlie a variety of cell functions including ... these crucial roles in regulating normal cellular behavior, ...
(Date:4/17/2014)... Pediatrician-in-Chief Jon McCullers, MD, was recently invited to ... Nature Reviews Microbiology , one of the ... world-renowned infectious disease specialist, and chair of the ... Health Science Center, analyzed the epidemiology and microbiology ... pandemics, as well as more recent 2009 novel ...
(Date:4/17/2014)... older Americans suffer from depression, often brought on by ... a project that followed the lives of thousands ... that Internet use among the elderly can reduce the ... "That,s a very strong effect," said Shelia Cotten, a ... media who led the project. "And it all has ...
(Date:4/17/2014)... School of Medicine (BUSM) have discovered that the ... experimental model. The findings, reported in the ... may lead to more effective treatments for alcoholism. ... the leading causes of illness and death in ... by limiting the productivity of workers and necessitating ...
(Date:4/17/2014)... Cesar A. Arias, M.D., Ph.D., at The University of ... a new superbug that caused a bloodstream infection in ... 17 issue of The New England Journal of ... a class of highly-resistant bacteria known as methicillin-resistant ... cause of hospital and community-associated infections. The superbug has ...
Breaking Medicine News(10 mins):Health News:Live cell imaging reveals distinct alterations of subcellular glutathione potentials 2Health News:Internet use can help ward off depression among elderly 2Health News:BUSM researchers find anti-seizure drug may reduce alcohol consumption 2Health News:New MRSA superbug emerges in Brazil 2
... Scientists working at the Medical Research Council have identified ... pre-cancerous cells in the esophagus, a condition called Barrett,s ... these cells before they develop into esophageal cancer. These ... have important implications for patients and may help to ...
... News) -- Soccer players need to use the correct ... or redirect the ball -- to prevent possible brain injury, ... link between the sport and brain damage, Dr. Alejandro Spiotta ... are moving at high speeds when they come into contact ...
... -- A study about how wearing contact lenses affects ... Loyola University Chicago Stritch School of Medicine,s annual St. ... study is Marie Brenner, a fourth-year student at Stritch ... effects of contact lens wear on retinal nerve fiber ...
... an accepted way to simplify a complex array of symptoms ... an independent disease in itself. However, the truth is not ... at work explaining the symptoms. This is also one of ... not bring the hoped result," says Kari Tikkinen, MD, PhD, ...
... The University of Kentucky will be the first site ... the entire country participating in the first stages of a ... human adult stem cell product, on patients with acute ischemic ... stroke protocol B01-02, was recently approved by UK,s institutional review ...
... By Alan Mozes HealthDay Reporter , ... smartphone may not actually be that smart, British researchers ... study that finds an association between the increasingly popular ... levels. The reason: a relentless need to immediately ...
Cached Medicine News:Health News:Researchers use sugar to halt esophageal cancer in its tracks 2Health News:Heading Soccer Balls Could Injure Brain 2Health News:The concept of 'overactive bladder' serves better commercial rather than patient interests 2Health News:Your Smartphone May Be Stressing You Out 2Health News:Your Smartphone May Be Stressing You Out 3
For use with catalog #0540, 0887....
For use with catalog #0454....
Lupus Anticoagulant-Sensitive APTT Reagent.Cephalin with particulate activator (silica), freeze-dried....
Antigenic Free Protein S, ELISA Method...
Medicine Products: