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Echo Therapeutics Announces Pricing Of Public Offering Of Common Stock

PHILADELPHIA, Dec. 20, 2012 /PRNewswire/ -- Echo Therapeutics, Inc. (Nasdaq: ECTE), a company developing its needle-free Symphony ® tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring system, today announced the pricing of a previously announced underwritten public offering of 3,200,000 shares of its common stock, offered at a price to the public of $0.95 per share.  The gross proceeds to Echo from this offering are expected to be approximately $3.0 million, 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 of 480,000 additional shares of its common stock to cover over-allotments, if any.  The offering is expected to close on or about December 27, 2012, 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.

Feltl and Company is acting as co-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 November 27, 2012, and a final prospectus supplement and accompanying base prospectus will be filed with SEC. Electronic copies of the preliminary prospectus supplement and, when available, electronic copies of the final prospectus supplement, as well as 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.

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