MOUNTAIN VIEW, Calif., Sept. 18 /PRNewswire-FirstCall/ -- Pharsight Corporation (OTC Bulletin Board: PHST), a leading provider of software and strategic services for optimizing clinical drug development, today announced that it has filed an application to list its common stock on the Nasdaq Capital Market. The Company will work with Nasdaq to complete the application process.
"This application is an important milestone for Pharsight," said Shawn O'Connor, president, CEO, and chairman of Pharsight. "Three years ago we embarked upon a strategy that we believed would lead to profitable revenue growth and enhanced value for our stockholders. Since that time, we have delivered consistent, positive net income and revenue growth. We believe the successful listing of Pharsight's common stock on the Nasdaq Capital Market will encourage an increase in our valuation, one that is more in-line with companies with similar dynamics and one that more adequately reflects our long-term opportunities for growth."
As part of the Nasdaq application and approval process, the Company must meet certain eligibility criteria. The Company believes it currently meets every eligibility criterion with the exception of a minimum bid price of $4. The Company's stockholders recently approved a reverse stock split, which, once completed, the Company believes will allow it to meet this final requirement.
About Pharsight Corporation
Pharsight Corporation develops and markets integrated products and services that enable pharmaceutical and biotechnology companies to achieve significant and enduring improvements in the development and use of therapeutic products. Pharsight's goal is to help customers reduce the time, cost and risk of drug development, as well as optimize the post-approval marketing and use of pharmaceutical products.
Pharsight's approach enhances the fundamental element of drug
development success: strong decision-making. By adopting the Pharsight
|SOURCE Pharsight Corporation|
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