• SKIP TO CONTENT
  • SKIP NAVIGATION
  • Patient Resources
    • COVID-19 Patient Resource Center
    • Clinical Trials
    • Search Clinical Trials
    • Patient Notification System
    • What is Clinical Research?
    • Volunteering for a Clinical Trial
    • Understanding Informed Consent
    • Useful Resources
    • FDA Approved Drugs
  • Professional Resources
    • Research Center Profiles
    • Clinical Trial Listings
    • Market Research
    • FDA Approved Drugs
    • Training Guides
    • Books
    • eLearning
    • Events
    • Newsletters
    • White Papers
    • SOPs
    • eCFR and Guidances
  • White Papers
  • Trial Listings
  • Advertise
  • COVID-19
  • iConnect
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Home » Encorium Cuts Loss by $1.8M

Encorium Cuts Loss by $1.8M

May 22, 2009
CenterWatch Staff

Following Encorium Group’s announcement of plans to sell its assets, the Wayne, Pa.-based contract research organization (CRO) released its first quarter financial results earlier this week, reporting a significant decrease in net loss for Q1 2009 compared with the same period last year.

Encorium’s loss for the quarter was $195,220, or $(0.01) per diluted share, down from $2 million, or $(0.10) per diluted share, in the first quarter 2008. Encorium CEO David Ginsburg attributed the decrease to staff reductions and a reduction in overhead expenses.

“We are very pleased with the results of our cost-cutting efforts, which significantly reduced our direct expenses and SG&A to better align our costs to our current book of business, ” Ginsburg said in a company statement.

Net revenues for the first quarter of 2009 were also down from the same period last year. Revenue for the quarter was $7 million, down 6.1% from $7.5 million last year.

Encorium has entered into two non-binding letters of intent to sell the assets of its U.S. operations and its European subsidiary, Encorium Oy. The first letter of intent, for the U.S. business, is with Italian CRO Pierrel SpA. The company did not release any specific information about the pending European deal, other than to say it’s with a global clinical research organization based in the U.S.

Upcoming Events

  • 16Feb

    Fundamentals of FDA Inspection Management: Reduce Anxiety, Increase Inspection Success

  • 21May

    WCG MAGI Clinical Research Conference – 2023 East

Featured Products

  • Spreadsheet Validation: Tools and Techniques to Make Data in Excel Compliant

    Spreadsheet Validation: Tools and Techniques to Make Data in Excel Compliant

  • Surviving an FDA GCP Inspection

    Surviving an FDA GCP Inspection: Resources for Investigators, Sponsors, CROs and IRBs

Featured Stories

  • SurveywBlueBackground-360x240.png

    Sites Name Tech Acceptance as Essential Factor in Selection of Sponsors, Survey Finds

  • TrendsInsights2023-360x240.png

    WCG Clinical Research Trends and Insights for 2023, Part Two

  • TimeMoneyEffort-360x240.png

    Time is Money and So Is Effort, Budgeting Experts Say

  • TrendsInsights2023A-360x240.png

    WCG Clinical Research Trends and Insights for 2023, Part Three

Standard Operating Procedures for Risk-Based Monitoring of Clinical Trials

The information you need to adapt your monitoring plan to changing times.

Learn More Here
  • About Us
  • Contact Us
  • Privacy Policy
  • Do Not Sell or Share My Data

Footer Logo

300 N. Washington St., Suite 200, Falls Church, VA 22046, USA

Phone 617.948.5100 – Toll free 866.219.3440

Copyright © 2023. All Rights Reserved. Design, CMS, Hosting & Web Development :: ePublishing