Navigation Links
Sales Contracts Worth $2.3 Million Signed Since 1 July 2008
Date:8/11/2008

Highlights:

-- $1.2 million contract signed for Phase III schizophrenia study -- In total, nine sales contracts signed since 1 July 2008, worth $2.3

million

-- $3 million in revenue already locked in for FY 2009

MELBOURNE, Australia, Aug. 12 /PRNewswire/ -- CogState Ltd (ASX: CGS) today announced that it has signed a contract with an international pharmaceutical company to provide its computerized cognitive testing technology and associated services for use in a phase III schizophrenia study.

Cognition will be a co-primary endpoint in the large phase III study, which will be conducted in over 70 sites and the CogState technology provided in seven languages. CogState Chief Scientific Officer, Professor Paul Maruff, commented, "In addition to the strength of our scientific validation, CogState was selected from among its competitors because of the ability to successfully apply the CogState systems across different cultures and different languages."

The phase III study will generate in excess of $1 million revenue for CogState over the life of the contract. More than 50% of the total revenue from the contract will be recognized by CogState in the year ending 30 June 2009.

CogState also announced that an additional eight contracts have been signed since 1 July 2008, taking the total to nine contracts signed with a combined value of approximately $2.3 million. Of the $2.3 million contract value, CogState expects approximately 63% of that revenue ($1.46 million) to be recognized in the financial year ending 30 June 2009.

Taking into account the contracts in place at 30 June 2008 as well as those signed since 1 July 2008, CogState now has contracts that will generate in excess of $4 million of revenue over the life of the contracts. CogState expects approximately $3 million of that revenue to be recognized in the financial year ending 30 June 2009.

CogState CEO, Brad O'Connor commented, "The value of contracts in place at this early stage of the financial year puts CogState in a tremendous position to continue our revenue growth in the 2009 financial year. This time last year we had contracts in place that would generate $1.4 million of revenue over their life, $1.1 million of that in the 2008 financial year. So our position is significantly stronger than it was only 12 months ago."

About CogState:

CogState Ltd specializes in the development and commercialization of rapid, computerized tests of cognition (brain function). The tests are sold to pharmaceutical, biotechnology, nutraceutical and functional food companies to quantify the effect of drugs or other interventions on human subjects participating in clinical trials.

Since sales into the clinical trials market began in 2004, CogState has secured agreements with organizations including Pfizer, AstraZeneca, GlaxoSmithKline, Merck, Abbott Laboratories, Centres for Disease Control (USA), ALZA Corporation (a member of the Johnson and Johnson group), Lundbeck and Organon USA. CogState is currently expanding its existing activities in the US and European clinical trial markets. For additional information: http://www.cogstate.com

Company inquiries:

Brad O'Connor

Chief Executive Officer

CogState Ltd

Ph: +61 3 9664 1300

Mob: +61 411 888 347

boconnor@cogstate.com


'/>"/>
SOURCE CogState Ltd
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. NanoLogix Inc. Announces Joint Development With CL Solutions and First Sales of Rapid Detection Kits
2. Neurobiological Technologies Reports Receipt of $2.1 Million Royalty Payment for Quarterly Sales of Memantine
3. Shire Delivers Strong Quarter: Driven by $243m of New Product Sales (+164% YOY Growth). Revenue Guidance Upgrade.
4. Cephalon Exceeds Both Sales and Earnings Guidance for Second Quarter of 2008
5. Health Monitoring Systems Appoints Karen S. Dockrell As VP, Sales
6. Sigma-Aldrich (Nasdaq: SIAL) Reports 16.7% Gain in Q2 2008 Diluted EPS. Q2 2008 Sales Rise 14.4%. 2008 Diluted EPS Forecast Raised $.05 to $2.62-$2.72.
7. Pharmasmart International Taps Top Executive Ashton Maaraba to Head Global Sales and Marketing
8. BioElectronics Announces Distribution Agreement for Sales In India
9. AMT Appoints Director Global Marketing and Sales
10. Agendia and Ferrer Announce Exclusive Agreement for Sales of Cancer Diagnostic Services in Four Major European Markets
11. Gerresheimer Further Increases its Sales and Earnings Power
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/25/2016)... ... May 25, 2016 , ... ... became double board-certified in surgery and surgery of the hand by the National ... no stranger to going above and beyond in his pursuit of providing the ...
(Date:5/25/2016)... ... May 25, 2016 , ... Biohaven Pharmaceutical Holding Company Ltd. ... the company’s orphan drug designation request covering BHV-4157 for the treatment of Spinocerebellar ... FDA. , Spinocerebellar ataxia is a rare, debilitating neurodegenerative disorder that is ...
(Date:5/23/2016)... ... ... blood donations in South Texas and across the nation is growing. , But according to ... are on the decline. In fact, donations across the country are at their lowest point ... the last four years alone. , There is no substitute for blood. , “We want ...
(Date:5/23/2016)... North Carolina (PRWEB) , ... May 23, 2016 ... ... automation and building management solutions and services based in Aurora, Ohio, has broken ... of established business in the Research Triangle Park area, this new location solidifies ...
Breaking Biology Technology:
(Date:3/22/2016)... OTTAWA, Ontario , PROVO ... 2016 Newborn Screening Ontario (NSO), which operates ... for molecular testing, and Tute Genomics and ... process management technology respectively, today announced the launch of ... new next-generation sequencing (NGS) testing panel. ...
(Date:3/17/2016)... -- ABI Research, the leader in transformative technology ... will reach more than $30 billion by 2021, ... electronics, particularly smartphones, continue to boost the biometrics ... two billion shipments by 2021 at a 40% ... Analyst at ABI Research. "Surveillance is also gearing ...
(Date:3/14/2016)... March 14, 2016 NXTD ) ("NXT-ID" ... commerce market, announces the airing of a new series of ... week of March 21 st .  The commercials will air ... popular Squawk on the Street show. --> NXTD ... growing mobile commerce market, announces the airing of a new ...
Breaking Biology News(10 mins):