March 30, 2007
Sontra reports shrinking loss
By Matthew L. Brown
Franklin-based Sontra Medical Corp. announced a $5.3 million net loss for 2006.
The loss is narrower than the company's reported $5.7 million loss in the previous year.
Sontra ended 2006 with $559,017 in cash and short term investments, the company said.
For the fourth quarter of 2006, Sontra reported a net loss of $1.17 million compared to a net loss of $1.18 million for the fourth quarter of 2005.
During the last half of 2006, "the company had been working on seeking additional capital," but "was not successful…"
In order to remain afloat in the first half of 2007, Sontra closed on $660,000 in financing from investors and members of the company's board of directors.
Sontra, a drug and medical device company, is developing a non-invasive glucose monitor for diabetes and intensive care patients.
The loss is narrower than the company's reported $5.7 million loss in the previous year.
Sontra ended 2006 with $559,017 in cash and short term investments, the company said.
For the fourth quarter of 2006, Sontra reported a net loss of $1.17 million compared to a net loss of $1.18 million for the fourth quarter of 2005.
During the last half of 2006, "the company had been working on seeking additional capital," but "was not successful…"
In order to remain afloat in the first half of 2007, Sontra closed on $660,000 in financing from investors and members of the company's board of directors.
Sontra, a drug and medical device company, is developing a non-invasive glucose monitor for diabetes and intensive care patients.
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