MORRISVILLE, N.C. — etrials Worldwide, a provider of “eClinical” software and services for use by life science companies, is preparing to launch a stock repurchase program.

etrials (Nasdaq: ETWC) said it would repurchase up to $1 million in stock.

etrials shares traded at $3.08 on Wednesday.

“The authorization of this program reflects our long-term confidence in the eClinical space and our strong belief in etrial’s core business,” said John Cline, chief executive officer of etrials, in a statement. “Current price levels do not reflect our long-term potential and we see etrials as a tremendous investment opportunity.”

etrials has some 12.4 million shares outstanding.