For Immediate Release

New York,NY - On September 8, 2014, Taglich Brothers released a research note on Simulations Plus, Inc. (SLP) and reiterated a Speculative Buy rating with the 12-month price target increasing to $8.50 per share from $7.00 due to the acquisition of privately held Cognigen Corporation and increased sector valuation. The report noted the following key investment considerations:

• On September 2, 2014, Simulations Plus closed its acquisition of Cognigen Corporation, a provider of critical path projects delivering mechanistic understanding of disease biology and drug pharmacology at decision milestones. The company’s offerings include clinical program design, the go/no go decisions for its pharmaceutical customers, and clinical trial analysis that is submitted to regulators.

• SLP paid $7 million to acquire this privately held company. The consideration consisted of $2.8 million in cash and $4.2 million of newly issued, unregistered shares of common stock. A two-year $1.8 million will be used to satisfy any claims that may arise pursuant to the terms of the agreement.

• As of September 5, 2014 no audited pro-forma financials for the combined companies have been filed with the SEC. We estimate Cognigen Corporation should add at least $5 million in service revenue at a 10% net margin.

• We project consolidated FY15 revenue of $18 million (prior estimate was $13 million) and net income of $4.6 million or $0.27 per share (prior estimate was $4.1 million or $0.25 per share.

The full report can be viewed at http://www.taglichbrothers.com/equityuniverse/companies/simplus/simplus.aspx.

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Company Description:
Simulations Plus, Inc., based in Lancaster, California, is a developer of drug discovery and development software, which is licensed to and used in drug research by major pharmaceutical and biotechnology companies worldwide.

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Taglich Brothers:
Taglich Brothers, Inc. is full-service broker dealer focused exclusively on microcap companies. The Company defines the microcap segment of the equity market as companies with less than $250 million in market capitalization. Taglich Brothers currently offers institutional and retail brokerage services, investment banking and comprehensive research coverage to the investment community.

The Taglich Brothers' Equity Research department is dedicated to providing research reports that are informative, insightful and illuminating. Reports are designed to distill volumes of investment information into a concise, straightforward format so that busy professional investors can make informed investment decisions.

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