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Biotech / Medical : Covalent Group Inc (CVGR) an undiscovered CRO -- Ignore unavailable to you. Want to Upgrade?

To: vampire who wrote (64)	11/9/1998 11:06:00 AM
From: JanyBlueEyes	Respond to of 107

NEWS - $13.6 MILLION STUDY Covalent Group, Inc. to Conduct $13.6 Million Clinical Development Study WAYNE, Pa., Nov. 9 /PRNewswire/ -- Covalent Group, Inc. (NASDAQ:CVGR) today announced receiving the award of a $13.6 million contract from a leading pharmaceutical firm to conduct a major, multi-year, clinical development study. The contract also provides for Covalent to administer and manage an additional $25 million in investigator grants, clinical development fees, and other related expenses. Bruce LaMont, President and Chief Executive Officer commented, "We are extremely pleased to have been selected by a world class organization to manage a study which is of great importance to the success of our client's drug in the marketplace." Mr. LaMont added, "This new study of a flagship product in a major therapeutic area interfaces with our core competency in advanced clinical research, and continues to demonstrate our company's experience and expertise in providing innovative solutions to meet clients' needs." Covalent provides drug development and health management solutions to pharmaceutical and device manufacturers, as well as managed care organizations. To aid its pharmaceutical and managed care customers, Covalent has developed a disease assessment system using interactive voice recognition technology -- Virtual HouseCall. This press release contains forward-looking statements........ Contact Covalent on-line: cracorp.com

To: vampire who wrote (64)	11/9/1998 11:17:00 AM
From: JanyBlueEyes	Read Replies (1) \| Respond to of 107

News - Third Quarter Results Covalent Group, Inc. Reports Third Quarter Results WAYNE, Pa., Nov. 9 /PRNewswire/ -- Covalent Group, Inc. (NASDAQ:CVGR) today announced results for the third quarter ended September 30, 1998. Covalent reported revenues of $2,709,000 and a net loss of $20,000 or $.00 per share. These financial results are in comparison to revenues of $3,545,000 and net income of $322,000 or $.03 per share for the third quarter of last year. Bruce LaMont, President and Chief Executive Officer, commented, "The third quarter reflects our continued focus on cost containment with modest growth in revenues over the preceding quarter. Our recent efforts have resulted in converting one of our previously announced letters of intent into an awarded contract. Our outlook for increasing operating profits for the fourth quarter 1998 and 1999 has improved based upon the awarding of a $13.6 million, multiyear, clinical study as announced in the accompanying press release." Contact Covalent on-line: cracorp.com