Sontra Medical (Franklin, Massachusetts) said it received a deficiency letter Oct. 17 indicating it is not in compliance with the continued listing requirements of The Nasdaq Capital Market because for the previous 30 consecutive business days, the bid price had closed below the $1 minimum per share requirement for continued listing. Sontra will be allowed 180 calendar days to regain compliance with the minimum bid price rule. The letter from Nasdaq has no effect on the listing of Sontra’s common stock.
Sontra has 180 calendar days to regain compliance by having the bid price of its common stock close at $1 per share or more for at least 10 consecutive business days. If it does not regain compliance by April 16 Sontra will be issued a delisting letter.
Sontra develops a non-invasive, continuous transdermal glucose monitor for principal use in the Intensive Care market and Sontra makes products for transdermal delivery of large molecule drugs and vaccines.
New CPT codes describe S&N’s IDET
The Endoscopy division of Smith & Nephew (S&N; Andover, Massachusetts) reported that the American Medical Association (AMA; Chicago) has created two new Category I Current Procedural Terminology (CPT) codes that will describe the company’s Intradiscal Electrothermal Therapy (IDET) procedure. They become effective Jan. 1.
The new codes apply to intradiscal annuloplasty procedures that use electrothermal energy. The new CPT Codes for Percutaneous Intradiscal Electrothermal Annuloplasty are: 22526 — Percutaneous intradiscal electrothermal annuloplasty, unilateral or bilateral including fluoroscopic guidance, single level; and 22527 — one or more additional levels.
The IDET Procedure is a minimally-invasive outpatient procedure for treating disc-related low back pain in patients who have not responded to non-operative therapy. During the procedure, controlled levels of thermal heat are applied directly to the affected disc.
Mike Frazzette, president of S&N Endoscopy, said that the new codes are important “because they recognize the widespread acceptance of the procedure and the clinical evidence supporting IDET. These codes will also help distinguish IDET from procedures with less clinical data supporting effectiveness.”
S&N specializes in endoscopy, orthopedic reconstruction, orthopedic trauma and advanced wound management.