Sontra, Echo merge in $15m stock deal:
This article was originally published in Clinica
Executive Summary
Sontra Medical and Echo Therapeutics are merging to bring together their respective know-how in transdermal drug delivery technologies. Franklin, Massachusetts-based Sontra specialises in transdermal delivery and is better known for its SonoPrep ultrasound-mediated skin permeation technology. Echo, based in Durham, North Carolina, develops transdermally-delivered drugs. Under the terms of the agreement, Sontra will acquire all Echo stock in exchange for 6.25 million Sontra shares. Based on Sontra's closing share price of $2.39 the day before the announcement (September 16), this gives the transaction a total value of $14.9m.
You may also be interested in...
US Q1 Consumer Health Earnings Preview: Label This One Historic And Challenging But Promising
US OTC drug and supplement firms’ reports of results for the first three months of 2024 began on April 19 with P&G. JP Morgan analysts say while “some retailers in the US in particular” are reducing consumer health inventories, for the overall sector they expect “a healthier balance of positive volume and lower pricing contribution.”
Keeping Track: Cancer Approvals From Lumisight Imaging To Adjuvant Alecensa
The US FDA’s approval of Lumicell’s optical imaging agent Lumisight makes a dozen novel approvals in 2024 for the Center for Drug Evaluation and Research.
Partisan Politics Returns To US FDA Congressional Oversight
The US FDA has stood out as an agency that tends to draw broad bipartisan support amid a generally rancorous and divided Congress. A House hearing, however, may be a sign that those days are over.