Covalent Group Changes Name to Encorium Group, Inc.
31 10월 2006 - 1:34AM
Business Wire
Covalent Group, Inc. (Nasdaq: CVGR), a leader in the design,
development, and management of complex clinical trials and patient
registries for many of the world's leading pharmaceutical and
biotechnology companies, announced today that its common stock
began trading on NASDAQ under the ticker symbol �ENCO� this
morning. The change in the Company�s name to Encorium Group, Inc.
was recently approved at its Annual Meeting of Shareholders on
October 20, 2006. About Encorium Group, Inc. Encorium Group, Inc.
is a global clinical research organization that is a leader in the
design and management of complex clinical trials and Patient
Disease Registries for the pharmaceutical, biotechnology and
medical device industries. The Company�s mission is to provide its
clients with high quality, full-service support for their
biopharmaceutical development programs. Encorium offers therapeutic
expertise, experienced team management and advanced technologies.
The Company has drug and biologics development as well as clinical
trial experience across a wide variety of therapeutic areas such as
cardiovascular, endocrinology/metabolism, diabetes, vaccines,
infectious diseases, gene therapy, immunology, neurology, oncology,
gastroenterology, dermatology, hepatology, women�s health and
respiratory medicine. Encorium believes that its leadership in the
design of complex clinical trials, its therapeutic expertise and
commitment to excellence, and its application of innovative
technologies, offer its clients a means to more quickly and cost
effectively move products through the clinical development process.
Encorium is headquartered in Wayne, Pennsylvania and has its
European base of operations in Espoo, Finland. The Company has more
than 200 employees based in North America, Scandinavia, and
throughout Europe with a direct geographic reach that covers 25
countries. This press release contains forward-looking statements
identified by words such as �estimate,� �project,� �expect,�
�intend,� �believe,� �anticipate� and similar expressions. Actual
results might differ materially from those projected in, expressed
in or implied by the forward-looking statements. Potential risks
and uncertainties that could affect the Company's future operating
results and financial condition include, without limitation: (i)
our success in attracting new business and retaining existing
clients and projects; (ii) the size, duration, and timing of
clinical trials we are currently managing may change unexpectedly;
(iii) the termination, delay or cancellation of clinical trials we
are currently managing could cause revenues to decline
unexpectedly; (iv) the timing difference between our receipt of
contract milestone or scheduled payments and our incurring costs to
manage these trials; (v) outsourcing trends in the pharmaceutical,
biotechnology and medical device industries; (vi) the ability to
maintain profit margins in a competitive marketplace; (vii) our
ability to attract and retain qualified personnel; (viii) the
sensitivity of our business to general economic conditions; (ix)
other economic, competitive, governmental and technological factors
affecting our operations, markets, products, services and prices;
(x) announced awards received from existing and potential customers
are not definitive until fully negotiated contracts are executed by
the parties;(xi) our backlog may not be indicative of future
revenues and may not generate the revenues expected;(xii) our
ability to successfully integrate the businesses of Encorium and
Remedium and (xiii) the performance of the combined business to
operate successfully and generate growth. You should not place any
undue reliance on these forward looking statements which speak only
as of the date of this press release. Additional information
concerning factors that might affect our business or stock price
which could cause actual results to materially differ from those in
forward-looking statements is contained in Encorium Group's SEC
filings, including its Annual Report on Form 10-K for the year
ended December 31, 2005 and other periodic reports under the
Securities Exchange Act of 1934, as amended, copies of which are
available upon request from Encorium Group's investor relations
department or The Equity Group Inc. Covalent Group, Inc. (Nasdaq:
CVGR), a leader in the design, development, and management of
complex clinical trials and patient registries for many of the
world's leading pharmaceutical and biotechnology companies,
announced today that its common stock began trading on NASDAQ under
the ticker symbol "ENCO" this morning. The change in the Company's
name to Encorium Group, Inc. was recently approved at its Annual
Meeting of Shareholders on October 20, 2006. About Encorium Group,
Inc. Encorium Group, Inc. is a global clinical research
organization that is a leader in the design and management of
complex clinical trials and Patient Disease Registries for the
pharmaceutical, biotechnology and medical device industries. The
Company's mission is to provide its clients with high quality,
full-service support for their biopharmaceutical development
programs. Encorium offers therapeutic expertise, experienced team
management and advanced technologies. The Company has drug and
biologics development as well as clinical trial experience across a
wide variety of therapeutic areas such as cardiovascular,
endocrinology/metabolism, diabetes, vaccines, infectious diseases,
gene therapy, immunology, neurology, oncology, gastroenterology,
dermatology, hepatology, women's health and respiratory medicine.
Encorium believes that its leadership in the design of complex
clinical trials, its therapeutic expertise and commitment to
excellence, and its application of innovative technologies, offer
its clients a means to more quickly and cost effectively move
products through the clinical development process. Encorium is
headquartered in Wayne, Pennsylvania and has its European base of
operations in Espoo, Finland. The Company has more than 200
employees based in North America, Scandinavia, and throughout
Europe with a direct geographic reach that covers 25 countries.
This press release contains forward-looking statements identified
by words such as "estimate," "project," "expect," "intend,"
"believe," "anticipate" and similar expressions. Actual results
might differ materially from those projected in, expressed in or
implied by the forward-looking statements. Potential risks and
uncertainties that could affect the Company's future operating
results and financial condition include, without limitation: (i)
our success in attracting new business and retaining existing
clients and projects; (ii) the size, duration, and timing of
clinical trials we are currently managing may change unexpectedly;
(iii) the termination, delay or cancellation of clinical trials we
are currently managing could cause revenues to decline
unexpectedly; (iv) the timing difference between our receipt of
contract milestone or scheduled payments and our incurring costs to
manage these trials; (v) outsourcing trends in the pharmaceutical,
biotechnology and medical device industries; (vi) the ability to
maintain profit margins in a competitive marketplace; (vii) our
ability to attract and retain qualified personnel; (viii) the
sensitivity of our business to general economic conditions; (ix)
other economic, competitive, governmental and technological factors
affecting our operations, markets, products, services and prices;
(x) announced awards received from existing and potential customers
are not definitive until fully negotiated contracts are executed by
the parties;(xi) our backlog may not be indicative of future
revenues and may not generate the revenues expected;(xii) our
ability to successfully integrate the businesses of Encorium and
Remedium and (xiii) the performance of the combined business to
operate successfully and generate growth. You should not place any
undue reliance on these forward looking statements which speak only
as of the date of this press release. Additional information
concerning factors that might affect our business or stock price
which could cause actual results to materially differ from those in
forward-looking statements is contained in Encorium Group's SEC
filings, including its Annual Report on Form 10-K for the year
ended December 31, 2005 and other periodic reports under the
Securities Exchange Act of 1934, as amended, copies of which are
available upon request from Encorium Group's investor relations
department or The Equity Group Inc.
Covalent (NASDAQ:CVGR)
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Covalent (NASDAQ:CVGR)
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