SAN FRANCISCO, July 25, 2013 (GLOBE NEWSWIRE) -- CollabRx, Inc. (Nasdaq:CLRX), a data analytics company focused on informing clinical decision making in molecular medicine, announced it has engaged Hayden IR, a 15-year-old, highly recognized, national investor relations firm, to raise the visibility of CollabRx and strengthen its relationships with the investment community
"Over the past year, we have strengthened our financial position and transformed our overall business from development stage to commercialization phase, with our first substantial revenue coming in the fourth quarter of our fiscal 2013," said Thomas R. Mika, Chief Executive Officer of CollabRx. "This is an important foundation as we begin our new fiscal year generating revenue, expanding internationally, and adding partnerships to accelerate the adoption of our commercial offerings and grow our recurring revenue. We believe it is an appropriate time to retain a national investor relations firm to help us target and expand our investor audience and ensure we are communicating effectively with Wall Street. We look forward to working with the team of professionals at Hayden IR to execute this important goal."
With offices in New York, Phoenix, Minneapolis and San Diego, Hayden IR provides a comprehensive range of investor relations services to a growing list of clients. For more than a decade, Hayden IR has been a recognized leader in driving market recognition and creating sustainable competitive advantages for more than 100 micro- and small-cap companies. Hayden delivers expertise and professionalism in such areas as investor management, relationship building, awareness campaigns, online presence and corporate identity.
Brett Maas, Managing Partner of Hayden IR, added, "CollabRx represents a compelling opportunity as it transitions from the development stage into the commercialization phase. The Company has a diverse, scalable business model, with multiple revenue sources including Software-as-a Service (SaaS), 90%-plus gross margins, virtually no CapEx, and approximately $14 million invested in the platform to date. CollabRx has an outstanding reputation; it is growing the number of strong partners it serves with its technology platform, increasing revenue per client, and expanding the portfolio of products provided to individual clients through the cross-marketing of complementary functions."
Mr. Maas continued, "The Company's addressable opportunity includes the $18 billion genetic sequencing market and $1.5 billion next generation sequencing (NGS) market. 1.6 million individuals are diagnosed with cancer annually, 12 million in the United States have or have had cancer, and clinical NGS testing for cancer is projected to grow at 100% per annum. CollabRx is at the convergence of mega trends including genomics, precision medicine, web and mobile apps, and big data analytics. CollabRx efficiently operates at the intersection of these mega trends by combining its technology platform with artificial intelligence (AI) based expert systems that enable the Company to contextualize large quantities of information using insights from leading clinical practitioners based at prestigious academic-based hospitals. The Company is democratizing "thought-leader" medicine, as it begins its commercialization effort with leading partners, positioned as virtually the only pure-play public company in the sector. The team at Hayden IR looks forward to articulating this opportunity to the professional investment community."
About CollabRx
CollabRx, Inc. (Nasdaq:CLRX) is a recognized leader in cloud-based expert systems to inform healthcare decision-making. CollabRx uses information technology to aggregate and contextualize the world's knowledge on genomics-based medicine with specific insights from the nation's top cancer experts, starting with the area of greatest need: advanced cancers in patients who have effectively exhausted the standard of care. More information may be obtained at http://www.collabrx.com.
CollabRx Safe Harbor Statement
This press release includes forward-looking statements about CollabRx's anticipated results that involve risks and uncertainties. Some of the information contained in this press release, including, but not limited to, statements as to industry trends and CollabRx's plans, objectives, expectations and strategy for its business, contains forward-looking statements that are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. Any statements that are not statements of historical fact are forward-looking statements. When used, the words "believe," "plan," "intend," "anticipate," "target," "estimate," "expect" and the like, and/or future tense or conditional constructions ("will," "may," "could," "should," etc.), or similar expressions, identify certain of these forward-looking statements. Important factors which could cause actual results to differ materially from those in the forward-looking statements are detailed in filings made by CollabRx with the Securities and Exchange Commission. CollabRx undertakes no obligation to update or revise any such forward-looking statements to reflect subsequent events or circumstances.