March 21, 2011
Echo Therapeutics Drops Revenue, Loss
Echo Therapeutics Inc. of Franklin reduced its revenues to $428,460 in 2010, compared with $1.3 million in 2009, while also reducing its net loss to $4.1 million from $11 million.
The company, which makes needle-free glucose monitoring and drug delivery systems, said it made progress on its product development over the year, including submission of a pre-market notification to the FDA for its Prelude system for drug delivery.
Echo said it anticipates listing on a national exchange soon to generate more investment. It also plans to gain product clearance for the Prelude system and move the clinical development of its glucose monitoring system forward.
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