FRANKLIN, Mass., March 30 /PRNewswire-FirstCall/ -- Sontra Medical
Corporation (Pink Sheets: SONT) filed its Annual Report on Form 10-KSB for
the fiscal year ended December 31, 2006 with the Securities and Exchange
Commission yesterday. The Annual Report on Form 10-KSB is now available on
the SEC's website at http://www.sec.gov. For the three months ended December 31,
2006, the net loss applicable to common stockholders was $1,117,545 or $.38
per share, as compared to $1,186,744 or $.53 per share, for the same period
in 2005. For the year ended December 31, 2006, the net loss applicable to
common stockholders was $5,346,831, or $1.97 per share, as compared to
$5,743,003, or $2.59 per share, in 2005. The Company ended the year with a
total of $559,017 in cash and short term investments.
During the last half of 2006, the Company had been working on seeking
additional capital; however, the Company was not successful in completing a
financing transaction at that time. As previously reported, during the
first quarter of fiscal 2007 the Company closed on a $660,000 common stock
and warrant financing with Sherbrooke Partners, LLC, certain other
accredited investors and certain members of the Company's board of
directors and management team. Proceeds from the financing will be used for
working capital purposes. The Company will continue its research and
development efforts with its continuous glucose monitoring system and plans
to pursue opportunities for partnering in drug delivery as well as
transdermal diagnostics.
About Sontra Medical Corporation (http://www.sontra.com)
Sontra Medical Corporation, a technology leader in transdermal science,
is developing a non-invasive, continuous transdermal glucose monitor
("CTGM") for use in the Diabetes and Intensive Care Markets. In addition,
the Company owns the FDA approved SonoPrep(R) ultrasound-mediated skin
permeation technology, presently used with topical lidocaine to achieve
rapid (within five minutes) skin anesthesia. The Company is using its
technical competencies in transdermal drug formulation, delivery systems
and biosensors to develop a new paradigm in transdermal drug delivery and
diagnosis.
SonoPrep is a registered trademark of Sontra Medical Corporation. All
other company, product or service names mentioned herein are the trademarks
or registered trademarks of their respective owners.
Any statements contained in this press release that do not describe
historical facts may constitute forward-looking statements as that term is
defined in the Private Securities Litigation Reform Act of 1995. Any
forward- looking statements contained herein are based on current
expectations, but are subject to a number of risks and uncertainties. The
factors that could cause actual future results to differ materially from
current expectations include, but are not limited to, risks and
uncertainties relating to the Company's ability to develop, market and sell
products based on its technology, including a continuous transdermal
glucose monitor for the Diabetes and hospital ICU market; the expected
benefits and efficacy of the SonoPrep device in connection with
diagnostics, vaccine delivery, glucose monitoring and transdermal science;
the availability of substantial additional funding to continue our
operations and to conduct research and development, clinical studies and
future product commercialization; and, the Company's business, research,
product development, regulatory approval, marketing and distribution plans
and strategies. These and other factors are identified and described in
more detail in our filings with the SEC, including, without limitation, our
respective annual reports on Form 10-KSB for the year ended December 31,
2006, and our current reports on Form 8-K. We do not undertake to update
these forward-looking statements made by us.
Investor Relations Contacts:
Harry G. Mitchell, Interim CEO
508-530-0311
hmitchell@sontra.com
SOURCE Sontra Medical Corporation
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Related links:
http://www.sontra.com
CONTACT:
Investor Relations, Harry G. Mitchell,
Interim CEO, +1-508-530-0311, hmitchell@sontra.com
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