Key Developments For Phase Forward Incorporated
Phase Forward Incorporated (PFWD.O) (Nasdaq)
Phase Forward Incorporated Signs Multi-Year Agreement With Quotient Clinical For Use Of InForm Electronic Data Capture Solution
Phase Forward Incorporated announced a multi year agreement with Quotient Clinical, Quotient Clinical, a strategic business unit of Quotient Bioresearch (Quotient), is implementing Phase Forward`s InForm Global Trial Management (GTM) electronic data capture (EDC) solution to support data collection, management and analysis for its clinical trials. In addition, the company will use Phase Forward`s Central Designer module to enhance eCRF design efficiency and improve workflow in the study development process for EDC trials.
Phase Forward Incorporated Announces Share Repurchase Program
Phase Forward Incorporated announced that its Board of Directors has authorized the repurchase of up to $40.0 million of its common stock over the next twelve months. Under the program Phase Forward may repurchase shares from time to time at prevailing prices in the open market or in negotiated transactions off the market. The Company expects to use cash on hand and cash generated from future operations to fund repurchases of its common stock.
Phase Forward Incorporated Teams With PharmaNet Development Group
Phase Forward Incorporated announced a multi-year agreement with PharmaNet Development Group, Inc., a global drug development services company, that enables PharmaNet to offer Phase Forward`s InForm electronic data capture (EDC) solution to PharmaNet customers worldwide.
Phase Forward Incorporated Announces FDA Contract Award For Production Rollout Of WebSDM With Empirica Study
Phase Forward Incorporated announced a contract award to support the FDA's production rollout of the Company's WebSDM Release 3.0 software, including the Empirica Study Clinical Trials Signal Detection system. The WebSDM tool was originally developed under a Cooperative Research and Development Agreement (CRADA) for the FDA to validate and review submission data in CDISC Study Data Tabulation Model (SDTM) format, and has been installed at FDA since 2005. Empirica Study provides advanced statistical screening and visualization tools for review of SDTM data. Under the contract, the Comapny will be providing extended support, training, expanded statistical documentation for reviewers, software updates and enhancements to the Center for Drug Evaluation and Research`s (CDER`s) Computational Science Center (CSC) as it works to make standards-based review tools such as WebSDM more readily available to reviewers. The WebSDM solution is also installed at the National Cancer Institute (NCI) for use with the FDA`s Janus data warehouse.
Phase Forward Incorporated Issues Q4 2009 Outlook; EBIT Outlook Above Analysts' Estimates; Issues FY 2009 Outlook; Earnings Outlook Above Analysts' Estimates
Phase Forward Incorporated announced that for the fourth quarter of 2009, it expects non-GAAP revenues to be between $58.0 and $59.5 million, non-GAAP operating income to be between $8.2 and $8.9 million, non-GAAP earnings per share (EPS) to be between $0.12 and $0.13, GAAP EPS to be between $0.05 and $0.06. For fiscal 2009, the Company expects non-GAAP revenues to be between $215.0 and $216.5 million, non-GAAP operating income to be between $33.0 and $33.7 million, with non-GAAP EPS to be between $0.50 and $0.51 and GAAP EPS to be between $0.23 and $0.24. According to Reuters Estimates, analysts on an average were expecting the Company to report EPS of $0.12 and EBIT of $7.9 million on revenue of $58.9 million for the fourth quarter of 2009; EPS of $0.49 and EBIT of $31.4 million on revenue of $216.3 million for fiscal 2009.
