20th Annual Listing of Top-Performing Massachusetts-Based Public
Companies Spotlights Life Sciences Software Pioneer for Second
Consecutive Year
WALTHAM, Mass.--(BUSINESS WIRE)--May 20, 2008--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, 2007, Phase Forward was ranked 16th
among Massachusetts-based companies whose stock is publicly traded on
NASDAQ, New York Stock Exchange or American Stock Exchange. It is the
second time Phase Forward has been included in the Globe 100. Phase
Forward consistently merits inclusion in the Boston Globe's weekly
listing of the "Life Sciences 25," a roster of the top companies in
the sector, ranked by market value. The company also boasts recent
product wins including the prestigious Bio-IT World Best Practices
award for Lincoln Safety Group's Clinical Trials Signal Detection
(CTSD(TM)) product.
"These companies represent the resiliency of Massachusetts
business, surviving recessions, merger manias and dramatics shifts in
their industries," said Shirley Leung, business editor of the Boston
Globe.
"As a software and service company providing products to the life
sciences industry, Phase Forward is at a unique intersection - one
that allows us to draw on two thriving local Massachusetts markets,"
said Bob Weiler, CEO and president, Phase Forward. "The state's strong
roots in technology provide a natural foundation for companies like
Phase Forward, as well as an inherent spirit of innovation and
collaboration of which we're proud to be a part. We'll continue to
work with other leading companies and world-renowned academic
institutions to drive growth in the state."
Phase Forward closed 2007 with record revenues of $134 million, up
26 percent from 2006, and announced a 26 percent increase in revenues
for the first quarter of 2008 over the same quarter last year. Later
this year the company will move its headquarters to one of the
suburb's greenest buildings, 77 CityPoint in Waltham, to further
expand and accommodate growth.
The Globe 100, now in its 20th year, ranks Massachusetts-based
public companies based on financial data from the four quarters ending
closest to December 31, 2007, 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), which is a leading media company with 2007 revenues of
$3.2 billion, and includes The New York Times, the International
Herald Tribune, The Boston Globe, 16 other daily newspapers, WQXR-FM
and more than 50 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)), phase I
clinic automation (LabPas(TM)), clinical data management
(Clintrial(TM)), clinical trials signal detection (CTSD(TM)),
strategic pharmacovigilance (WebVDME(TM) and Signal Management),
adverse event reporting (Empirica(TM) Trace) 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 280 organizations and
regulatory agencies worldwide including: AstraZeneca, Boston
Scientific, Dana-Farber Cancer Institute, Eli Lilly, the U.S. Food and
Drug Administration, GlaxoSmithKline, Harvard Clinical Research
Institute, Merck Serono, Novartis, Novo Nordisk, PAREXEL
International, Procter & Gamble, Quintiles, sanofi-aventis,
Schering-Plough Research Institute, Servier, Tibotec and the U.K.
Medicines and Healthcare Products Regulatory Agency. 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,
Phase Forward's expectations and assumptions concerning management's
forecast of financial performance, the performance of Phase Forward's
products and services, future business and operations plans of Phase
Forward's customers, the ability of Phase Forward's customers to
realize benefits from the use of Phase Forward's products and
services, and management's plans, objectives and strategies. These
statements are neither promises nor guarantees, but are subject to a
variety of risks and uncertainties, many of which are beyond Phase
Forward's 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;
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 Phase Forward's public
filings with the Securities and Exchange Commission including, without
limitation, its most recent Annual Report on Form 10-K.
CONTACT: Phase Forward
Elaine Maynard, 781-902-4371
elaine.maynard@phaseforward.com
or
CHEN PR, Inc.
Juli Greenwood, 781-672-3137
jgreenwood@chenpr.com
SOURCE: Phase Forward
