Phase Forward won a contract award for its deal to provide the Food & Drug Administration with its WebSDM software and Empirica Study clinical trials signal detection system.
The Waltham, Mass.-based clinical trial data management provider said the WebSDM tool was originally developed in cooperation with the FDA and has been in use since 2005. It’s used to validate and review data in submitted in the standardized CDISC Study Data Tabulation Model format. Empirica Study provides advanced statistical screening and visualization tools for review of SDTM data.
Under the terms of the deal, Phase Forward support the federal watchdog’s Center for Drug Evaluation and Research’s rollout and use of the tools.
Phase Forward beat Wall Street’s expectations with its third-quarter results, posting net earnings of $1.2 million, or 4 cents a share, for the three months ended Sept. 30. Excluding acquisition and other one-time costs, Phase Forward recorded an 11-cent profit, topping its previous guidance for the quarter and also beating consensus analyst estimates by a penny.
Adjusted third-quarter revenues were $53.1 million, rising 24 percent over year-ago levels but missing forecasts by about $500,000. Phase Forward reported a $4.3 million net profit on $43 million in revenues during the September 2008 quarter.