Echo Therapeutics Announces Pricing of Public Offering of Common Stock

    Echo Therapeutics Announces Pricing of Public Offering of Common Stock

PR Newswire

PHILADELPHIA, June 13, 2013

PHILADELPHIA, June 13, 2013 /PRNewswire/ --Echo Therapeutics, Inc. (Nasdaq:
ECTE), a company developing its needle-free Symphony^® CGM System as a
non-invasive, wireless continuous glucose monitoring system, today announced
the pricing of a previously announced underwritten public offering of
4,025,000 shares of its common stock, offered at a price to the public of
$2.70 per share. The gross proceeds to Echo from this offering are expected
to be approximately $10,867,500 before deducting the underwriting discount and
other estimated offering expenses payable by Echo. Echo Therapeutics has
granted the underwriters a 45-day option to purchase up to an aggregate
of603,750 additional shares of its common stock to cover over-allotments, if
any. The offering is expected to close on or about June 19, 2013, subject to
customary closing conditions.

(Logo: http://photos.prnewswire.com/prnh/20120801/NE50071LOGO )

Aegis Capital Corp. is acting as the sole book-running manager for the
offering.

The offering is being made pursuant to a shelf registration statement that
Echo previously filed with the Securities and Exchange Commission (the "SEC")
and which is effective. A preliminary prospectus supplement and accompanying
base prospectus relating to the offering were filed with the SEC on June 7,
2013, and a final prospectus supplement and accompanying base prospectus will
be filed with the SEC. Electronic copies of the preliminary prospectus
supplement and, when available, electronic copies of the final prospectus
supplement, as well as the accompanying base prospectus, may be obtained by
contacting Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue,
18^th Floor, New York, NY, 10019, telephone: (212) 813-1010 or email:
prospectus@aegiscap.com. Electronic copies of the final prospectus supplement
and accompanying base prospectus will also be available on the SEC's website
located at www.sec.gov.

This press release does not constitute an offer to sell, or the solicitation
of an offer to buy, these securities, nor will there be any sale of these
securities in any state or other jurisdiction in which such offer,
solicitation or sale is not permitted.

About Echo Therapeutics

Echo Therapeutics is developing the Symphony CGM System as a non-invasive,
wireless continuous glucose monitoring system. Our target is patients who
could benefit from glucose monitoring in the hospital setting, including
critical care. Significant opportunity also exists for patients with diabetes
to use Symphony in the outpatient setting. Echo is also developing its
needle-free skin preparation component of Symphony, the Prelude^® SkinPrep
System, as a platform technology to enhance drug delivery of topical
pharmaceuticals.

Cautionary Statement Regarding Forward Looking Statements

The statements in this press release that are not historical facts may
constitute forward-looking statements including, without limitation, the
statements regarding Echo Therapeutics' proposed offering, 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 general market conditions, risks related to
regulatory approvals and the success of Echo's ongoing studies, including the
safety and efficacy of Echo's Symphony CGM System, the failure of future
development and preliminary marketing efforts related to Echo's Symphony CGM
System, Echo's ability to secure additional commercial partnering
arrangements, risks and uncertainties relating to Echo's and its partners'
ability to develop, market and sell the Symphony CGM System, the availability
of substantial additional equity or debt capital to support its research,
development and product commercialization activities, and the success of its
research, development, regulatory approval, marketing and distribution plans
and strategies, including those plans and strategies related to its Symphony
CGM System. These and other risks and uncertainties are identified and
described in more detail in Echo's filings with the Securities and Exchange
Commission, including, without limitation, its Annual Report on Form 10-K for
the year ended December 31, 2012, its Quarterly Reports on Form 10-Q, and its
Current Reports on Form 8-K. Echo undertakes no obligation to publicly update
or revise any forward-looking statements.

For More Information:
Christine H. Olimpio
Director, Investor Relations and Corporate Communications
(215) 717-4104

Connect With Us:
- Visit our website at www.echotx.com
- Follow us on Twitter at www.twitter.com/echotx
- Join us on Facebook at www.facebook.com/echotx

SOURCE Echo Therapeutics, Inc.

Website: http://www.echotx.com
 
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