11,000 yest for vol and 11,000 so far today by noon...surely not a groundswell but price is
improving incrementally...up to .65 on bid...here is last release about 5 weeks ago
followed by last earnings release...as a very well established CRO i expect the numbers
to continue to improve...BITI trades otc bb w/approx 7.5m shares outstanding...:
(COMTEX) B: Bio-Imaging Technologies, Inc. Announces Participation in
B: Bio-Imaging Technologies, Inc. Announces Participation in NPS Phase III
Osteoporosis Trial
NEWTOWN, Pa., May 16, 2000 /PRNewswire via COMTEX/ -- Bio-Imaging
Technologies, Inc. (OTC Bulletin Board: BITI), announced today that it has
entered into an contract with NPS Pharmaceuticals, Inc. (Nasdaq: NPSP; TSE: NX)
to provide all image handling and analysis for the NPS Phase III osteoporosis
study of ALX1-11, recombinant human parathyroid hormone (1-84). NPS has started
enrolling patients into the first Phase III study of full length human PTH, a
true anabolic agent for the treatment of osteoporosis.
Bio-Imaging Technologies, Inc. (Bio-Imaging) has been retained by NPS to provide
all of the bone densitometry (DXA/DEXA) quality control, quality assurance, and
quantification measures and the reading of all the x-rays for vertebral and
other clinical fractures. The study will enroll 1,800 patients who will be
treated with ALX1-11 or placebo for 18 months. It is estimated that at least
50,000 images will be sent to Bio-Imaging for processing.
Mark L. Weinstein, President and Chief Executive Officer of Bio-Imaging said,
"We are extremely pleased to be involved with NPS in this development program.
It demonstrates our strengths across multiple imaging modalities and builds on
the assets we gained with the purchase of Bona Fide Ltd. This is one of the
largest single trial contracts in Bio-Imaging's history and one that neither
Bio-Imaging, nor Bona Fide could have won separately."
Thomas B. Marriott, Ph.D., NPS Vice President, Development Research, stated that
"NPS recognised the need to centralise and standardise our DEXA and x-ray
imaging and interpretation in order to ensure the integrity of our study. We
needed an imaging company that had experience in this therapeutic area and that
had the ability to react quickly. Bio-Imaging has demonstrated this capability
and has an important role in the conduct of our Phase III study. We started the
planning of this study in the late Fall of last year and we are pleased to have
a quality imaging infrastructure in place to accommodate our aggressive
timeline."
Colin G. Miller, Ph.D., Bio-Imaging Vice President, Business Development,
commented "This is an important study in the area of osteoporosis. The results
of this study will have a significant impact in the future treatment of patients
suffering from this crippling disease. Our involvement demonstrates
Bio-Imaging's capability as the only completely independent `imaging core lab'
in the world with the capabilities of handling multiple imaging modalities in
large Phase III osteoporosis programs."
Bio-Imaging Technologies, Inc. is a pharmaceutical contract service organization
providing services that support the product development process of the
pharmaceutical, biotechnology, and medical device industries. The Company has
specialized in assisting its clients in the design and management of the
medical-imaging component of clinical trials since 1990. Bio-Imaging serves its
clients on a global basis through its Corporate headquarters (Newtown,
Pennsylvania), U.S. Business Offices (New Jersey, Massachusetts and California),
European office (Leiden, The Netherlands) and European business office in
Dusseldorf.
NPS Pharmaceuticals, Inc. is engaged in the discovery and development of
recombinant peptides and small molecule drugs that address a variety of
important diseases. Additional information on NPS is available at www.npsp.com.
Certain matters discussed in this press release are "forward-looking statements"
intended to qualify for the safe harbors from liability established by the
Private Securities Litigation Reform Act of 1995. In particular, statements
regarding trends in the marketplace and potential future results are examples of
such forward-looking statements. The forward- looking statements include risks
and uncertainties, including, but not limited to, the timing of projects due to
the variability in size, scope and duration of projects, regulatory delays,
clinical study results which lead to reductions or cancellations of projects,
and other factors, including general economic conditions and regulatory
developments, not within the control of Bio-Imagining or NPS. The factors
discussed herein and expressed from time to time in filings with the Securities
and Exchange Commission by either company could cause actual results and
developments to be materially different from those expressed in or implied by
such statements. The forward-looking statements are made only as of the date of
this press release and the companies undertake no obligation to publicly update
such forward-looking statements to reflect subsequent events or circumstances.
SOURCE Bio-Imaging Technologies, Inc.
CONTACT: Mark L. Weinstein, Chief Executive Officer of Bio-Imaging
Technologies, 267-757-1360, ext. 239
URL: npsp.com
bioimaging.com
prnewswire.com
(C) 2000 PR Newswire. All rights reserved.
-0-
KEYWORD: New Jersey
INDUSTRY KEYWORD: CPR
MTC
SUBJECT CODE: CON
*** end of story ***
(COMTEX) B: Bio-Imaging Technologies, Inc. Announces Second Quarter R
B: Bio-Imaging Technologies, Inc. Announces Second Quarter Results - 35%
Revenue Growth from First Quarter
NEWTOWN, Pa., May 10, 2000 /PRNewswire via COMTEX/ -- Bio-Imaging
Technologies, Inc. ("Bio-Imaging") (OTC Bulletin Board: BITI) today released
results for the quarter ended March 31, 2000, the Second Quarter of Fiscal 2000.
Net loss for the quarter was approximately $150,000, or $(0.02) per diluted
share, on revenues of approximately $1,463,000. This result compares to net
income of approximately $71,000, or $0.01 per diluted share on revenues of
$1,328,000 for the same period last year.
For the six months ended March 31, 2000, net loss was approximately $450,000, or
$(0.06) per diluted share, on revenues of approximately $2,540,000. This result
compares to a net loss of approximately $275,000, or $(0.04) per diluted share,
on revenues of approximately $2,153,000 for the same period last year.
Commenting on the results, Mark L. Weinstein, president and chief executive
officer of Bio-Imaging, stated, "We continue to be pleased with the progress we
are making in building a sustainable, profitable business. Our revenues grew by
35% from our previous quarter in Fiscal 2000 and our Contracted/Committed
backlog has increased to $13.4M as of March 31, 2000 from previously reported
$12.3M as of December 31, 1999 and $7.0M as of September 30, 1999.
Contracted/Committed backlog is the amount of revenue that remains to be earned
on signed and agreed to contracts. When we compare our first half of 1999 to our
first half of 2000 we see that the number of active clients has increased by 32%
(25 to 33) and the number of active projects has increased by 79% (39 to 70).
Over the past quarter we have increased our operations infrastructure in order
to ensure that our service levels are maintained at the highest levels for our
clients. This increase in expenses is required because of the large number of
projects that have or will be started between February and July of this year. We
believe that revenues associated with these new projects should be seen in
coming quarters.
Through actively expanding our customer base, we have reduced our revenue
concentration. For the first six months of fiscal 1999 8 clients accounted for
approximately 80% of our revenues, and in the same period for fiscal 2000, 13
clients have accounted for approximately 80% of our revenues.
Regulatory authorities, i.e. the Food and Drug Administration ("FDA"), have
recently made public statements wherein they supported processes and submission
packages of the type pioneered by Bio-Imaging for the digital submission of
medical imaging data. This elimination of film-based submissions and the
anticipated release of regulatory guidelines for submission of digital imaging
data should accelerate the growth of our business in the coming quarters."
Bio-Imaging Technologies, Inc. is a pharmaceutical contract service organization
providing services that support the product development process of the
pharmaceutical, biotechnology and medical device industries. The Company has
specialized in assisting its clients in the design and management of the
medical-imaging component of clinical trials since 1990. Bio-Imaging serves its
clients on a global basis through its Corporate headquarters (Newtown, PA), U.S.
Business Offices (New Jersey, Massachusetts and California) and its European
office (Leiden, The Netherlands).
Certain matters discussed in this press release are "forward-looking statements"
intended to qualify for the safe harbors from liability established by the
Private Securities Litigation Reform Act of 1995. In particular, the Company's
statements regarding trends in the marketplace and potential future results are
examples of such forward-looking statements. The forward-looking statements
include risks and uncertainties, including, but not limited to, the timing of
projects due to the variability in size, scope and duration of projects,
regulatory delays, clinical study results which lead to reductions or
cancellations of projects, and other factors, including general economic
conditions and regulatory developments, not within the Company's control. The
factors discussed herein and expressed from time to time in the Company's
filings with the Securities and Exchange Commission could cause actual results
and developments to be materially different from those expressed in or implied
by such statements. The forward-looking statements are made only as of the date
of this press release and the Company undertakes no obligation to publicly
update such forward-looking statements to reflect subsequent events or
circumstances. |
