Skip to main content
Premium Trial:

Request an Annual Quote

Increased Revenue, Fallen Expenses Help Trim Pharsight s Q1 Net Loss

NEW YORK, July 31 - Pharsight yesterday reported that a pull-back on fiscal first-quarter expenses, including R&D spending, together with a 26 percent increase in total revenue help narrow net loss.


This, accompanied with a company-wide restructuring announced last week that cost 15 percent of Pharsight's staff their job, will help the firm save as much as $3 million in annual operating costs.


For the period ended June 30, Pharsight reported total revenues of $3.5 million compared with $2.7 million in the same quarter one year ago. Receipts from new and existing software licenses led the charge in the quarter with a $500,000 increase to $1.5 million.


Meantime, R&D spending in the first quarter fell to $1.5 million from $2 million year over year, a move echoed in each of Pharsight's cost centers and reflected in a $2.6 million year-over-year reduction in total expenses.


As a result, the company posted a first-quarter net loss of $3.5 million, or $.19 per share, or $6.5 million, or $.35 per share, year over year.


Pharsight said it had slightly less than $13 million in cash, cash equivalents, and short-term investments as of June 30.


Last week, Mountain View, Calif.-based Pharsight said it decided to restructure in hopes of saving between $2.5 million and $3 million in annual operating costs and help the company better focus on its duo of software platforms and its consulting group. To that end, beside the 15-percent staff reduction, which the firm said will cost between $300,000 and $500,000 in second-quarter charges, Pharsight has created three new business units:


The company's Knowledgebase unit which will focus on Pharsight's PKS products, will be headed by Mark Robillard, senior vice president PKS business and former vice president of global sales; the Strategic Development Group which will focus on new-product design, will be led by Michael Schwartz, senior vice president of strategic development and former vice president of marketing; and the Strategic Consulting Group, which will focus on "applications of modeling and simulation methods" and "strategic decision-making," which will be headed by new recruit Mona Cross Sowiski, who was hired by Pharsight to be its senior vice president of consulting services.


Click here for more information.

The Scan

Study Reveals New Details About Genetics of Major Cause of Female Infertility

Researchers in Nature Medicine conducted a whole-exome sequencing study of mote than a thousand patients with premature ovarian insufficiency.

Circulating Tumor DNA Shows Potential as Biomarker in Rare Childhood Cancer

A study in the Journal of Clinical Oncology has found that circulating tumor DNA levels in rhabdomyosarcoma may serve as a biomarker for prognosis.

Study Recommends Cancer Screening for Dogs Beginning Age Seven, Depending on Breed

PetDx researchers report in PLOS One that annual cancer screening for dogs should begin by age seven.

White-Tailed Deer Harbor SARS-CoV-2 Variants No Longer Infecting Humans, Study Finds

A new study in PNAS has found that white-tailed deer could act as a reservoir of SARS-CoV-2 variants no longer found among humans.