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"This application is an important milestone for Pharsight," said ShawnO'Connor, president, CEO, and chairman of Pharsight. "Three years ago weembarked upon a strategy that we believed would lead to profitable revenuegrowth and enhanced value for our stockholders. Since that time, we havedelivered consistent, positive net income and revenue growth. We believe thesuccessful listing of Pharsight's common stock on the Nasdaq Capital Marketwill encourage an increase in our valuation, one that is more in-line withcompanies with similar dynamics and one that more adequately reflects ourlong-term opportunities for growth."
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As part of the Nasdaq application and approval process, the Company mustmeet certain eligibility criteria. The Company believes it currently meetsevery eligibility criterion with the exception of a minimum bid price of $4.The Company's stockholders recently approved a reverse stock split, which,once completed, the Company believes will allow it to meet this finalrequirement.
About Pharsight Corporation
Pharsight Corporation develops and markets integrated products andservices that enable pharmaceutical and biotechnology companies to achievesignificant and enduring improvements in the development and use oftherapeutic products. Pharsight's goal is to help customers reduce the time,cost and risk of drug development, as well as optimize the post-approvalmarketing and use of pharmaceutical products.
Pharsight's approach enhances the fundamental element of drug developmentsuccess: strong decision-making. By adopting the Pharsight approach, customersacquire a new decision-making process with the potential to systematicallyimprove every level and phase of their business and scientific processes.Pharsight is headquartered in Mountain View, California. Information aboutPharsight is available at http://www.pharsight.com.Safe Harbor
This press release includes forward-looking statements, includingstatements regarding listing on the Nasdaq Capital Market, Pharsight'svaluation and growth opportunities, the completion of a reverse stock splitand Pharsight's stock price. These forward-looking statements involve risksand uncertainties, and factors that could cause actual results to differmaterially include the following: changes in the demand for Pharsight'sproducts and services; changes in Pharsight's operating strategies, pricingmodels or research and development focus; the failure to develop new productsand services or to keep pace with technological changes; the failure of themarket for Pharsight's products and services to develop as expected; thefailure to generate additional sales from existing customers or to generatesales to new customers; the failure to meet customers' expectations;uncertainties involved in pharmaceutical drug development; changes ingovernment regulation of the pharmaceutical industry; and uncertaintiesregarding the listing of our common stock on the Nasdaq Capital Market; andgeneral market conditions. There can be no assurance that Pharsight's commonstock will be approved for listing on the Nasdaq Capital Market. Furtherinformation on potential factors that could affect actual results is includedin Pharsight's Quarterly Report on Form 10-K, as filed with the Securities andExchange Commission on June 27, 2007. All forward-looking statements are basedon information available to Pharsight as of the date hereof, and Pharsightassumes no obligation to update such statements, whether as a result of newdevelopments or otherwise.Contacts: Investors
