Question-and-Answer Session
(Operator Instructions) Your first question comes from the line of Bret Jones - Leerink Swann.
Bret Jones - Leerink Swann.
Thank you and good evening. Mike, can we talk about the cancellation rate a little bit? I mean I know it is traded up for the last four quarters but generally it has been within your range and you did talk about some large chemotherapy trials that ended prematurely or did they end prematurely or just without as many thoroughs as you talked about or as you were expecting?
Mike McKelvey
No, these were long-term Phase III trials, oncology trials that started a couple of years ago and they just ended with zero patients enrolled and therefore fewer ECGs required.
Bret Jones - Leerink Swann
Okay, is there any way to quantify what impact that had on the cancellation rate?
Mike McKelvey
We could. I am not probably prepared to do that right now but I can certainly get back to you on that but we do have that data that would allow us to do that.
Bret Jones - Leerink Swann
That will be great. So, when we talk about the economy and I know you said 10% of your business is from small cap biotech and you talked about the thoroughs, I know Keith had mentioned that some thoroughs, some of those 15 thoroughs were expected to start in Q4 and they are now going to go in Q1 and I think Mike, you said there was only going to be one. Is that one of those trials or were there more than one?
Mike McKelvey
There is one or two right now. We know of one, there may be another here.
Bret Jones - Leerink Swann
Okay but are you seeing any other delays outside of the thorough area? I cannot imagine anything but thoroughs. Thoroughs are the ones where the clinical trial sponsors have the most leeway when they start, right?
Mike McKelvey
Right, we have not seen any delays directly related to what we are doing. I mean maybe people have delayed things that we are not aware of but of the trials that we have run or we have been awarded, we have not seen any other delays.
Bret Jones - Leerink Swann
Okay and then since you brought up the ICH guidelines, I do not know, are you familiar with the Q&A that was published in June that the ICH put out?
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