VirtualScopics, PPD Expand Ties - Analyst Blog
30 Janeiro 2012 - 3:41PM
Zacks
Medical imaging solution provider
VirtualScopics (VSCP) has expanded its strategic
collaboration with North Carolina-based leading contract research
organization (“CRO”) Pharmaceutical Product Development (“PPD”)
Inc.
The companies have extended their partnership in clinical and
medical imaging to now include a range of therapeutic areas such as
oncology, central nervous system, cardiovascular, general medicine
and medical devices.
VirtualScopics collaborated, in October 2010, with PPD Inc., to
deliver a set of clinical and medical imaging solutions to help
biopharmaceutical companies to make rapid decisions in developing
oncology compounds. The scope of the collaboration was limited to
oncology.
Medical imaging plays a significant role in drug development.
The expanded alliance will enable the entities to offer
biopharmaceutical companies with state-of-the-art, integrated and
customized imaging technologies, which will help them to make
important development decisions on their compounds. The pooling of
the technologies and expertise of the two entities will enable
their clients to accelerate their drug development programs.
VirtualScopics offers its imaging solutions to pharmaceutical,
biotechnology and medical devices industries. The company provides
a range of imaging software and applications that are used for
image-based detection and measurement of anatomical structures and
metabolic activity. VirtualScopics competes with BioClinica
Inc (BIOC) and ICON plc (ICLR), among
others.
The company remains committed to investing in infrastructure,
services and additional technical and operational resources to
address customer needs and broaden its global foothold.
Besides PPD, VirtualScopics also joined forces with
Germany-based full-service CRO ABX-CRO in September 2010, which
marked the union of two of the bellwethers in molecular imaging for
the clinical trials of drugs and medical devices.
VirtualScopics’ third-quarter 2011 earnings of 2 cents a share
beat the Zacks Consensus Estimate by a penny. The company’s profit
(attributable to common stockholders) slid roughly 10.5% year over
year, hurt by lower revenues which fell 9% year over year to $3.27
million.
VirtualScopics, in its third quarter call, noted that it has
filed 510(k) with the U.S. Food and Drug Administration (“FDA”) for
its first personalized medicine application. Based on tepid third
quarter results, the company reduced its sales forecast for fiscal
2011. VirtualScopics envisions sales to pick up in first-half 2012,
in part, driven by the PPD alliance.
BIOCLINICA INC (BIOC): Free Stock Analysis Report
ICON PLC (ICLR): Free Stock Analysis Report
VIRTUALSCOPICS (VSCP): Free Stock Analysis Report
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