Life Sciences Software Pioneer Included in Annual Listing of Top-Performing Massachusetts-Based Public Companies
WALTHAM, Mass.--(BUSINESS WIRE)--May 29, 2007--Phase Forward
(NASDAQ: PFWD), a leading provider of data management solutions for
clinical trials and drug safety, has been named to the "Globe 100"
list of top-performing public companies in Massachusetts.
Based on a composite score derived from financial data for the
four quarters ending December 31, 2006, Phase Forward was ranked
twenty-first among Massachusetts-based companies whose stock is
publicly traded on NASDAQ, New York Stock Exchange or American Stock
Exchange. Phase Forward frequently merits inclusion in the Globe's
weekly listing of the "Life Sciences 25," a roster of the top
companies in the sector, ranked by market value.
"The companies in the Globe 100 have distinguished themselves in
not only their respective fields but among other Massachusetts
businesses," said Globe Business Editor Shirley Leung. "This year's
Globe 100 highlights the broad spectrum of both old and new
Massachusetts companies, from cutting-edge sectors like biotechnology
to long-standing staples like construction."
To qualify for the Globe 100, a company must have been public for
the entire 2006 calendar year and have reported a positive net income
for both 2005 and 2006.
"As we approach our tenth anniversary in June, this marks another
important milestone for Phase Forward," said Bob Weiler, CEO and
president, Phase Forward. "The company's success is based on the hard
work of our sharp, dedicated employees, who are helping some of the
world's largest life sciences organizations aggressively advance
clinical research while maintaining high safety standards."
The Globe 100, now in its 19th year, ranks Massachusetts-based
public companies based on financial data from the four quarters ending
closest to December 31, 2006, and for corresponding quarters a year
earlier.
About The Boston Globe
The Boston Globe is wholly owned by The New York Times Company
(NYSE: NYT), a leading media company with 2006 revenues of $3.3
billion, including The New York Times, the International Herald
Tribune, The Boston Globe, 15 other daily newspapers, WQXR-FM and more
than 30 Web sites, including NYTimes.com, Boston.com and About.com.
The Company's core purpose is to enhance society by creating,
collecting and distributing high-quality news, information and
entertainment.
About Phase Forward
Phase Forward is a leading provider of integrated data management
solutions for clinical trials and drug safety. The company offers
proven solutions for electronic data capture (InForm(TM)), clinical
data management (Clintrial(TM)), clinical trials signal detection
(CTSD(TM)), strategic pharmacovigilance (WebVDME(TM) and Signal
Management), adverse event reporting (Clintrace(TM)) and applied data
standards (WebSDM(TM)). In addition, the company provides services in
the areas of application implementation, hosting and validation, data
integration, business process optimization, safety data management and
industry standards. Phase Forward's products and services have been
utilized in over 10,000 clinical trials involving more than 1,000,000
clinical trial study participants at over 250 organizations and
regulatory agencies worldwide including: AstraZeneca, Boston
Scientific, Dana-Farber Cancer Institute, Eli Lilly, the U.S. Food and
Drug Administration, or FDA, GlaxoSmithKline, Harvard Clinical
Research Institute, Merck & Co., Merck Serono, Novartis, Novo Nordisk,
PAREXEL International, Procter & Gamble, Quintiles, sanofi-aventis,
Schering-Plough Research Institute, Tibotec, the U.K. Medicines and
Healthcare Products Regulatory Agency and Servier. Additional
information about Phase Forward is available at www.phaseforward.com.
Cautionary Statement
Certain statements made in this press release that are not based
on historical information are forward-looking statements which are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. This press release contains express or
implied forward-looking statements relating to, among other things,
our financial performance and operating results. These statements are
neither promises nor guarantees, but are subject to a variety of risks
and uncertainties, many of which are beyond our control, which could
cause actual results to differ materially from those contemplated in
these forward-looking statements. In particular, the risks and
uncertainties include, among other things, changes in our customers'
industries; our ability to convince prospective customers to adopt our
solutions; competition and changes in competition during future
periods; changing customer requirements; governmental regulation; our
ability to maintain profitability; fluctuations in our operating
results; long sales and implementation cycles; our dependence on a
limited number of customers or suppliers; product performance; third
party service interruptions or delays; technology failures; our
ability to maintain customer relationships and contracts; our ability
to retain and hire skilled personnel; our ability to protect our
intellectual property rights; product liability or intellectual
property infringement claims brought against us; acquisitions; our
ability to manage our rapid growth; our ability to obtain capital when
desired on favorable terms; and the volatility of the market price of
our common stock.. Existing and prospective investors are cautioned
not to place undue reliance on these forward-looking statements, which
speak only as of the date hereof. Phase Forward undertakes no
obligation to update or revise the information contained in this press
release, whether as a result of new information, future events or
circumstances or otherwise. For additional disclosure regarding these
and other risks faced by Phase Forward, see the disclosure contained
in our public filings with the Securities and Exchange Commission
including, without limitation, its most recent Quarterly Report on
Form 10-Q.
CONTACT: Phase Forward
Gretchen Dock, 781-902-4413
gretchen.dock@phaseforward.com
or
CHEN PR, Inc.
Juli Greenwood, 781-672-3137
jgreenwood@chenpr.com
SOURCE: Phase Forward
