WALTHAM, Mass.--(BUSINESS WIRE)--Phase Forward Incorporated (NASDAQ: PFWD), a leading provider of data management solutions for clinical trials and drug safety, announced today that its board of directors has authorized the repurchase of an additional $25.0 million of its common stock, to be completed by December 31, 2010. This follows the completion of the Company’s previously announced $40.0 million share repurchase program. Under terms of the newly announced program, Phase Forward may repurchase shares from time to time at prevailing prices in the open market or in negotiated transactions off the market. The Company expects to use cash on hand and cash generated from future operations to fund repurchases of its common stock.
