Medidata Solutions (
NASDAQ:MDSO) sells a software platform called Medidata Rave that helps
biotech and
pharmaceutical companies enhance the efficiency of their
clinical development processes.
[1] It achieves this by integrating electronic data capture (EDC) with a clinical data management system (CDMS) in a single product.
Medidata Rave is a comprehensive platform that replaces traditional paper-based methods of capturing and managing clinical data.
The company also sells a protocol authoring tool (Medidata Designer), a grant management system (Medidata Grant Manager) and a CRO contracting platform (Medidata CRO Contractor). In 2007, 2008 and the first quarter of 2009, the company's top five customers by revenue were
Johnson & Johnson,
AstraZeneca,
Amgen, Astellas Pharma and
Takeda Pharmaceutical.
[1]
Medidata's initial public offering (IPO) of stock is scheduled for 18 June 2009. It plans to sell 6.3 million shares at between $11 and $12 per share. In 2008, the company had $106 million in total revenues, up 67.9% from $63.0 million in 2007. However, it still made a net loss of $18.3 million, down 22.8% from the $23.7 million net loss made in 2007.[2] In the same year, 69% of revenues came from customers in the United States, 21% from Europe and 10% from Asia (including Australia). In the first quarter of 2009, the company had $33.6 million in total revenues, up 60.2% from $21.0 million in the same quarter of the 2008.[2] It also had $1.7 million in net income, up 120% from the $8.6 million net loss made in 2007. Existing investors in the company include Insight Venture Partners (33.9%), chief executive officer and chairman Tarek Sherif (9.0%), president and director Glen M. de Vries (9.0%) and Milestone Venture Partners (7.6%).
References
- ↑ 1.0 1.1 Business, 2009 MDSO S-1/A
- ↑ 2.0 2.1 Selected Consolidated Financial Information, 2009 MDSO S-1/A
