-- $1.2 million contract signed for Phase III schizophrenia study -- In total, nine sales contracts signed since 1 July 2008, worth $2.3
-- $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 200
|SOURCE CogState Ltd|
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