Navigation Links
VirtualScopics Backlog Rises to a Record $27 Million
Date:12/2/2008

ROCHESTER, N.Y., Dec. 2 /PRNewswire-FirstCall/ -- VirtualScopics, Inc. (Nasdaq: VSCP), a leading provider of quantitative imaging for clinical trials, today announced that its backlog currently exceeds $27 million compared to $14.7 million at the same time a year ago, a greater than 80% increase. The company calculates backlog as the amount remaining to be recognized from active and awarded contracts. The duration of the studies included within the backlog ranges from 2 months to 6 years and the company anticipates that awarded contracts will be signed within the next several months as the projects near their start dates.

"We continue to be extremely pleased with the growth in our project backlog which has not only showed greater than 80% growth compared to last year at this time, but is also 35% higher than the $20 million we announced just five months ago," said VirtualScopics' President and Chief Executive Officer, Jeff Markin. "Not only does the strength of our backlog demonstrate our future revenue potential it also shows the continued momentum in the demand for our services within the industry." He further added, "As we near the end of 2008, we remain confident in our ability to achieve our 2008 financial targets announced at the beginning of this year and are looking forward to a solid close to the year."

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 about VirtualScopics, visit www.virtualscopics.com .

Forward-Looking Statements

The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbors created thereby. These forward-looking statements include, but are not limited to, statements regarding the backlog and new customer awards in 2008 and/or statements preceded by, followed by or that include the words "believes," "could," "expects," "anticipates," "estimates," "intends," "plans," "projects," "seeks," or similar expressions. Forward-looking statements deal with the Company's current plans, intentions, beliefs and expectations. Investors are cautioned that all forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Many of these risks and uncertainties are discussed in the Company's Annual Report on Form 10-KSB for the fiscal year ended December 31, 2007 filed with the Securities and Exchange Commission (the "SEC"), and in any subsequent reports filed with the SEC, all of which are available at the SEC's website at www.sec.gov. These include without limitation: the risk of cancellation or delay of customer contracts or specifically as it relates to awards of contracts currently under negotiation, the risk that they may not get signed. Other risks include the company's dependence on its largest customers and risks of contract performance. All forward-looking statements speak only as of the date of this press release and the Company undertakes no obligation to update such forward-looking statements.

    CONTACT:  Company Contact:
              Molly Henderson
              Chief Business and Financial Officer
              500 Linden Oaks
              Rochester, New York 14625
              (585)249.6231

'/>"/>
SOURCE VirtualScopics, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. VirtualScopics Announces $4.35 Million Private Placement
2. VirtualScopics Backlog Exceeds a Record $20 Million
3. VirtualScopics Receives NASDAQ Delisting Notice; Company Files Appeal to Stay Delisting
4. VirtualScopics Reports Second Quarter 2008 Results
5. VirtualScopics Schedules Third Quarter 2008 Earnings Announcement
6. VirtualScopics to Present at Two Upcoming Investor Conferences
7. VirtualScopics Reports Record Third Quarter 2008 Revenue and Gross Profit
8. Kendle Delivers Record Sales and Backlog and Strong Growth in Operating Margin for Third Quarter 2007
9. Hispanic drug use rises in US culture
10. Medsphere & Keane Join Forces to Provide Healthcare Enterprises With Integrated Electronic Health Record & Revenue Cycle Management Systems
11. Dr. Andrew K. Palmer Joins BMEs (BioMedical Enterprises, Inc.) Board of Directors
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/5/2016)... ... May 05, 2016 , ... A local ... that more than 40 percent of participating fifth-grade students already have or are ... and Asthma Clinical Research in the Division of Pulmonary, Allergy and Critical Care ...
(Date:5/5/2016)... (PRWEB) , ... May 05, 2016 , ... Dr. Benjamin ... in non-surgical hair loss treatment. Dr. Stong is double board certified and the ... for the treatment of hair loss. Non-surgical therapies such as stem cells can ...
(Date:5/5/2016)... , ... May 05, 2016 , ... The 2016 Nike ... Derek Pittman, along with his university coaching staff. Together they bring their winning Vandals ... sessions run for youth players ages 5-13, and high school players. Session dates are ...
(Date:5/5/2016)... ... May 05, 2016 , ... When stiff and achy ... alleviate the pain that’s a common osteoarthritis (OA) symptom. Yet, numerous clinical studies ... with arthritis. , “Physical therapy exercises are commonly prescribed to individuals with ...
(Date:5/5/2016)... ... May 05, 2016 , ... The Lung Institute will celebrate its three-year ... seminar at most clinic locations throughout the month of May. To date, the Lung Institute ... rapid growth that we’ve seen is a testament to the success of this treatment and ...
Breaking Medicine News(10 mins):
(Date:5/4/2016)... 2016 Yissum Research Development ... today that it had signed an exclusive world-wide licensing ... of novel protein degradation and immunomodulatory drugs for cancer ... drug candidates representing first-in-class therapy for hematologic and solid ... The novel technology was developed by ...
(Date:5/4/2016)... , May 4, 2016 ... addition of the  "Global Acute Myeloid Leukemia ...  report to their offering.       ... Acute Myeloid Leukemia Market and Competitive Landscape ... Myeloid Leukemia pipeline products, Acute Myeloid Leukemia ...
(Date:5/3/2016)... -- Research and Markets has announced the ... Market Outlook 2020" report to their offering. ... technology has improved significantly in past years due to ... coming years. Many cancer drugs have been developed by ... also expected to be developed with its help. They ...
Breaking Medicine Technology: