Mobile Edition
Print
Get the Mag
Weekly UpdatesVirtualScopics, Inc. (NASDAQ:VSCP), Rochester, N.Y., a provider of quantitative imaging for clinical trials, has announced preliminary revenues for the third quarter ended September 30, 2008 were approximately $1.8 million, representing over a 32% increase over the comparable period in 2007. The company also announced other highlights during the third quarter of 2008, including:
-- Initial contract awards from two of the leading pharmaceutical/biotechnology companies, bringing the total to 12 of the top 15 pharmaceutical/biotechnology companies currently under contract or award.
-- Award of the company's first oncology clinical trial using FLT-PET imaging, a technique that provides important insights as to the aggressiveness of tumors at a cellular level.
-- Award of the company's first clinical trial utilizing fMRI, an imaging procedure that enables the characterization of brain activity during the performance of cognitive and motor tasks which is important in the study and development of therapies in certain neurological disorders.
"We are extremely pleased to deliver another quarter of record revenue growth," stated Jeff Markin, president and CEO of VirtualScopics, Inc. "Securing two new top tier companies within the pharmaceutical/biotechnology industry is especially rewarding in that it affords us the opportunity to further broaden the delivery of our innovative high quality services." He added, "We are equally pleased with the expansion of our scientific capabilities during the third quarter by securing two clinical studies which will be using progressive new imaging techniques, this aligns very well with our business model and growth plan."
VirtualScopics plans to report its complete third quarter 2008 financial results on Thursday, November 13, 2008.
About VirtualScopics, Inc.
VirtualScopics, Inc. is a leading provider of imaging solutions to accelerate drug and medical device development. VirtualScopics has developed a robust software platform for analysis and modeling of both structural and functional medical images. In combination with VirtualScopics' industry-leading experience and expertise in advanced imaging biomarker measurement, this platform provides a uniquely clear window into the biological activity of drugs and devices in clinical trial patients, allowing sponsors to make better decisions faster.
For more information, visit http://www.virtualscopics.com or call 585/249-6231.
FEED