FRANKLIN, Mass., July 29 /PRNewswire/ -- Sontra Medical Corporation
(Nasdaq: SONT) today announced that it has sent a cease and desist letter to
the Berlin-Bremen Stock Exchange demanding an immediate halt of trading and
the delisting of Sontra Medical Corporation. The Company's common stock is
currently listed on the Berlin-Bremen Stock Exchange without the Company's
prior request, approval or consent.
Sontra Medical Corporation is one of numerous US companies that have been
added to the Berlin-Bremen Stock Exchange without permission. These listings
may be part of an effort by stock traders to avoid recently enacted SEC
restrictions prohibiting "naked short selling". Such practices may allow for
market manipulation by selling non-existent shares of a stock in an effort to
force the price down.
Thomas W. Davison, PhD, Sontra's CEO said "We believe that this
unauthorized listing on the Berlin-Bremen Stock Exchange may have contributed
to the recent decline in our share price. We have no interest in having our
stock trade on any exchange that may subject Sontra's common stock to price
manipulation. Sontra has authorized only the NASDAQ Small Cap Exchange to
trade our shares which is required by federal securities laws to have rules
and regulations in place to prevent fraudulent and manipulative practices, to
promote just and equitable principles of trade, and to protect investors. We
want our stock price to reflect only the intrinsic value of our business".
About Sontra Medical Corporation (http://www.sontra.com)
Sontra Medical Corporation is a leading developer of transdermal drug
delivery and diagnostic products that combine Sontra's SonoPrep ultrasound-
mediated skin permeation technology with synergistic biosensor and transdermal
drug delivery technologies. Sontra's products under development include:
SonoPrep and a topical anesthetic kit for rapid (within five minutes) skin
anesthesia; a continuous non-invasive glucose monitor developed in
collaboration with Bayer Diagnostics and the use of SonoPrep for the
transdermal delivery of vaccines and large molecule drugs.
Contact:
Sean Moran, CFO
Sontra Medical Corporation
Tel: 508-553-8850
Evan Smith, CFA/Erica Pettit
KCSA Worldwide
Tel: 212-896-1248 / 212-896-1289
SOURCE Sontra Medical Corporation
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Related links:
http://www.sontra.com
CONTACT:
Sean Moran, CFO, Sontra Medical Corporation,
+1-508-553-8850; or Evan Smith, CFA, +1-212-896-1248, or Erica
Pettit, +1-212-896-1289, both of KCSA Worldwide
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