Simulations Plus Inc. announced on Thursday that it is launching its newest software product, a program called PKPlus, which evaluates clinical trial data for submission to regulatory agencies.

The Lancaster pharmaceutical software company originally introduced PKPlus as an optional component of its GastroPlus software, but it has now made it a standalone program.

The program predicts physical reactions to drugs, manages and examines clinical data, compares the data to an extensive library of records and produces tables and figures for reporting purposes.

Simulations Plus is expecting a beta release of PKPlus in November with a full release scheduled for January.

“We believe PKPlus represents a major addition to our product line with the potential to become one of our leading sources of revenues and earnings,” said John DiBella, vice president of marketing and sales for Simulations Plus, in a prepared statement.

Simulations Plus closed down .33 cents or 3.5 percent to $9.17 on the Nasdaq.