Shares of Simulations Plus (NASDAQ: SLP) , a specialized software company that serves the biopharmaceutical industry, had fallen 14.3% as of 11:37 a.m. EDT on Tuesday. Investors were caught off guard by service-segment revenue that declined during the company's fiscal third quarter.
Simulations Plus reported fairly positive results for the three months ended May 31, with a glaring exception. The finicky services segment reported an 18% year-over-year decline due to late-quarter project delays and cancellations in drug development programs.
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Here's Why Simulations Plus Stock Is Sliding Today