BioClinica®, Inc., (NASDAQ: BIOC), a global provider of clinical trial management services, announced that its Board of Directors has authorized a share repurchase program of up to $2.0 million of the Company's common stock over the next 18 months.
Repurchase under the program may be made through open market purchases or privately negotiated transactions in accordance with applicable federal securities laws, including Rule 10b-18. The timing of the repurchases and the exact number of shares of common stock to be purchased will be determined by the discretion of the Company's management, and will depend upon market conditions and other factors. The program will be funded using the Company's cash on hand and cash generated from operations. The program may be extended, suspended or discontinued at any time.
BioClinica currently has 15.2 million shares of common stock outstanding.
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