MOUNTAIN VIEW, Calif., Nov. 13 PharsightCorporation (OTC Bulletin Board: PHRS), a leading provider of software,strategic consulting, and regulatory services for optimizing clinical drugdevelopment, announced today that its previously-announced one-for-threereverse stock split became effective at 5:00 p.m., Eastern Time today.Effective at the open of market tomorrow, Pharsight's shares will begintrading on a split-adjusted basis on the OTC Bulletin Board under a new symbol"PHRS.OB," which replaces the previous symbol "PHST.OB."
The reverse split has reduced the number of shares of Pharsight commonstock outstanding from approximately 28.2 million to approximately 9.4million. The exercise price and the number of shares of common stock issuableunder Pharsight's outstanding warrants and options have been proportionatelyadjusted to reflect the reverse stock split. Existing stockholders will besent instructions for exchanging existing stock certificates for new stockcertificates, and for receiving cash payments for fractional shares.
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 Corporation is headquartered in Mountain View, California.Information about Pharsight is available at http://www.pharsight.com.
SOURCE Pharsight Corporation