ICON plc reports developments for a global contract research organization that provides outsourced clinical development services to pharmaceutical and biotechnology companies. Its news commonly covers operating and financial results, clinical trial management activity, net business wins, revenue guidance, and service areas such as patient recruitment, data analytics, laboratory services and regulatory consulting.
Company updates also address partnerships that connect clinical trial technology with research-site systems, expansion of the Accellacare Site Network in therapeutic areas including oncology, and governance or accounting-control matters tied to revenue recognition and financial reporting.
ICON plc (NASDAQ: ICLR) reported robust financial results for Q3 2020, achieving a record $990 million in net business wins, with a book-to-bill ratio of 1.41. Despite a 1.2% year-on-year decline in revenue to $701.7 million, the company raised its 2020 revenue guidance to $2,750 million - $2,810 million. Operational income for the quarter was $108.4 million, and the net income was $91.6 million. The company reported net cash of $359.8 million, up from $244.0 million in Q2 2020. ICON is well-positioned to leverage COVID-19 opportunities, managing over 100 trials related to the pandemic.
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