Echo Therapeutics Announces $3.6 Million Warrant Exercises
PHILADELPHIA, Jan. 4, 2012 /PRNewswire/ -- Echo Therapeutics, Inc. (Nasdaq: ECTE) today announced that it has received warrant exercises generating a total of approximately $3.6 million in cash proceeds. These warrant exercises bring the company's year-end cash balance to approximately $9.2 million.
"This cash infusion, following the recent positive clinical results for use of our Symphony System, represents important achievements for Echo as we progress toward regulatory clearance and commercialization," said Patrick T. Mooney, M.D., Chairman and CEO of Echo Therapeutics. "We believe this additional capital strengthens the balance sheet and will provide greater flexibility in the accelerated product development and clinical validation of our products."

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