Navigation Links
VirtualScopics' Project Balance Exceeds a Record $35 Million
Date:9/29/2009

ROCHESTER, N.Y., Sept. 29 /PRNewswire-FirstCall/ -- VirtualScopics, Inc. (Nasdaq: VSCP), a leading provider of quantitative imaging for clinical trials, today announced that its project balance (the amount remaining to be recognized from its active and awarded projects and commonly referred to as backlog within the clinical research industry), exceeds $35 million which compares to $18 million at the same time a year ago, a greater than 90% increase. The average duration of the studies included within the backlog is approximately 3-1/2 years. The company anticipates that the awarded contracts included in the project balance will be signed within the next several months as the projects near their start dates.

"We are very pleased with the growth in our project balance as it is the best indicator of future revenue growth," said Jeff Markin, VirtualScopics' president and chief executive officer. He added, "Included in the backlog are eight phase III studies, crossing multiple therapeutic areas and clients, which demonstrate our broad capabilities and our customers' confidence in our ability to provide high quality imaging services for their pivotal studies. This has been a very strong year for the company and we look forward to a solid close to 2009."

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 expected benefits of the Company's investment in infrastructure and new customer contract signings and awards 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-K for the fiscal year ended December 31, 2008 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 contract awards, the risk that they may not get signed. Other risks include the company's dependence on its largest customers and risks of contract performance, protection of our intellectual property and the risks of infringement of the intellectual property rights of others. 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©2009 PR Newswire.
All rights reserved

Related medicine technology :

1. VirtualScopics Quantitative Imaging Provides Primary Endpoint in Cartilage Repair Pivotal Clinical Trial
2. The Female Health Company Receives USAID DELIVER PROJECT Order for 5 Million Units
3. Uncontrolled Blood Pressure Highest Among Hispanics, Prompting New Hypertension Project in Miami
4. The Well Project Web Portal Receives Stevie(R) Website of the Year, InfoWorld 100 Award
5. Hospital Launches Landmark Emergency Medicine Project
6. UM Maryland Industrial Partnerships Program Approves 18 Collaborative Research Projects, Worth $4.4 Million, Between University Faculty, State Technology Companies
7. DATATRAK and COResearch to Collaborate on Six Cardiac Safety Projects
8. ACORNs Oncology-focused Contract Research Organization Exceeds Projections
9. Dutch Top Institute Allocates 150 Million Euro to R&D Projects Targeting Early Diagnosis and Treatment of Disease
10. QMed, Inc. Receives 2-Year Extension of Medicare Coordinated Care Demonstration Project by CMS
11. TriLink Awarded a Phase II Grant for a Second Hot Start PCR Project
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/12/2017)... DIEGO , Oct. 12, 2017 AVACEN ... recognized the company with their  2017 New Product Innovation Award ... based on extensive primary and secondary medical device market research ... Medical, through its first-to-market OTC, drug-free pain relief product, the ... unique approach to treating fibromyalgia widespread pain. ...
(Date:10/11/2017)... , Oct. 11, 2017  BioPharmX Corporation (NYSE ... team that developed an innovative way to use nonlinear ... the delivery of new drugs. ... Clinical Dermatology Conference will show how researchers from BioPharmX ... Harvard Medical School used a suite of imaging techniques ...
(Date:10/11/2017)... -- Hill-Rom Holdings, Inc. ("Hill-Rom") (NYSE: HRC), today provided an ... Puerto Rico , where the company ... Following a comprehensive onsite assessment, ... damage, temporary loss of power and minimal water damage ... operations have resumed, and the company expects to return ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... October 13, 2017 , ... “America On The Brink”: the Christian history ... The Brink” is the creation of published author, William Nowers. Captain Nowers and ... WWII veteran, he spent thirty years in the Navy. Following his career as ...
(Date:10/12/2017)... , ... October 12, 2017 , ... Planet Fitness, one ... U.S., announced today its plans to open a flagship location in Covington, LA at ... former Rooms To Go store next to Office Depot in the Holiday Square shopping ...
(Date:10/12/2017)... ... , ... The American College of Medical Informatics (ACMI) will present the 2017 ... Session of AMIA’s Annual Symposium in Washington, D.C. AMIA’s Annual Symposium is ... pioneer in the field of medical informatics, this prestigious award is presented to an ...
(Date:10/12/2017)... ... October 12, 2017 , ... Dr. Parsa Mohebi, the ... medical article to the newly revamped Cosmetic Town journal section, featuring ... transplant procedure known as Follicular Unit Extraction (FUE). , Dr. Mohebi ...
(Date:10/12/2017)... ... , ... On Saturday, October 21, the Health & Wellness Center at Florida ... money for the American Heart Association Heart Walk. Teams of up to 10 people ... keep their treadmills moving for 5 hours. Treadmills will start at 7:00 p.m. on ...
Breaking Medicine News(10 mins):