Welcome to our dedicated page for Science 37 Holdings news (Ticker: SNCE), a resource for investors and traders seeking the latest updates and insights on Science 37 Holdings stock.
Science 37 Holdings, Inc. (SNCE) is frequently featured in clinical research news for its role in expanding patient access to trials through virtual and direct-to-patient models. Company announcements highlight its Metasite™ Virtual Site, Direct-to-Patient Site, and Patient Recruitment solutions, which are used by clinical trial sponsors and CROs to address enrollment and study conduct challenges across a range of therapeutic areas.
News about Science 37 often focuses on its participation in Phase 2 and Phase 3 studies, including rare disease, asthma, infectious disease, and immunocompromised patient cohorts. The company has reported contributing significant portions of total enrollment in pivotal trials, as well as helping under-enrolling studies trend back toward projected recruitment targets. These updates provide insight into how its decentralized and virtual site models function in real-world clinical programs.
Another recurring theme in Science 37 news is regulatory oversight and quality. The company has disclosed multiple FDA inspections of its Metasite™ and Direct-to-Patient Site models, with outcomes described as No Action Indicated and no Form 483s issued. Coverage of these inspections details how regulators have reviewed internal processes, technology platforms, data integrity, subject safety, and Principal Investigator oversight.
Investors and industry observers following SNCE news can expect updates on new partnerships with sponsors and service providers, case studies on enrollment performance, and developments related to its headquarters and operational footprint in Morrisville, North Carolina. This news stream offers context on how Science 37’s virtual and direct-to-patient approaches are being applied across different studies and therapeutic areas.
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Science 37 Holdings, Inc. (Nasdaq: SNCE) has announced a multi-year partnership with Amazon Web Services (AWS) to enhance the adoption and scaling of its Metasite platform, which allows clinical trial sponsors to engage patients beyond traditional sites. This collaboration aims to leverage AWS's robust analytics, security, and machine learning capabilities to expedite trial processes and improve patient safety. The partnership is set to expand Science 37's customer reach and support patient recruitment efforts. AWS's involvement is expected to modernize clinical research, leading to quicker trial enrollment and fostering diverse patient populations.
Science 37 Holdings, Inc. (Nasdaq: SNCE) has appointed Irena Lambridis as its new Global Head of Quality Assurance & Compliance, aiming to enhance the company's quality oversight as it expands globally across its new Centers of Excellence in India, Pakistan, and Slovakia.
Irena brings nearly 20 years of clinical research quality assurance experience, previously holding leadership roles at KCR and Novella Clinical, now part of IQVIA Biotech. Her expertise will help ensure adherence to quality standards and regulatory compliance.
This appointment aligns with Science 37's mission to lead in quality within the decentralized clinical trials (DCT) industry and supports its goal of accelerating patient access to clinical research.
Science 37 Holdings (Nasdaq: SNCE) announced a business update conference call scheduled for April 12, 2023, at 8:30 a.m. Eastern Time. The call will assess recent business developments and can be joined via toll-free or international numbers, as well as through a dedicated link. The live webcast will be accessible on the company’s investor relations webpage, with a replay available for 90 days post-event.
Science 37 is recognized for its innovative Metasite™ model, which enhances clinical research by allowing universal patient access through technology, mobile nursing, and remote coordination. This approach facilitates patient participation from various locations, broadening patient diversity and ensuring high-quality data collection. For more information, visit their website.
Science 37 Holdings, Inc. (Nasdaq: SNCE) announced the launch of three global Centers of Excellence (COEs) in India, Pakistan, and Slovakia to enhance its Metasite offering. This initiative aims to improve operational efficiency and accelerate profitability. The COEs will focus on technology platform development and employ skilled talent in data management. As of end-2022, the company employed 85 individuals in these regions, expecting to expand this number to nearly 200 by year-end 2023, while simultaneously eliminating approximately 140 positions in the U.S. and Europe.
In a strong first quarter, preliminary results indicated gross bookings exceeding $23 million and revenue surpassing $13.5 million, ahead of expectations. However, the company anticipates a $12 million adjustment to gross bookings due to prior halted projects. The preliminary financial results are subject to final adjustments.
Science 37 Holdings (Nasdaq: SNCE) announced on April 10, 2023, the granting of inducement equity awards under its 2022 Employment Inducement Incentive Award Plan. This plan, approved by the Board of Directors in November 2022, aims to attract non-executive employees. Three new employees received options to purchase a total of 110,800 shares of common stock at an exercise price of $0.29 per share, the closing price on the grant date. The options have a ten-year term and a four-year vesting schedule, with the first 25% vesting on the anniversary of the grant date. Science 37 focuses on improving clinical research accessibility through its Metasite™, leveraging proprietary technology for enhanced patient participation.
On March 10, 2023, Science 37 Holdings, Inc. (NASDAQ: SNCE) announced the granting of inducement equity awards under its 2022 Employment Inducement Incentive Award Plan. This was approved by the company's Board of Directors and Compensation Committee. A total of 86,300 stock options were granted to 13 new employees at an exercise price of $0.24 per share, equal to the closing price on the grant date. The options have a 10-year term and a four-year vesting schedule. Science 37 aims to enhance clinical research accessibility through its Metasite™ model, allowing patients to participate conveniently from various locations.
Science 37 Holdings reported its Q4 and full-year results for 2022, revealing a 22% decline in quarterly revenue to $15.9 million. Net bookings for the quarter fell 57% year-over-year to $18.6 million. Gross profit decreased to $3.6 million, with a gross margin of 22.9%. The net loss for Q4 was $66.5 million, equating to a loss per share of $0.57. For the year, revenue totaled $70.1 million, an 18% increase, but net bookings dropped 52%.
Looking ahead, the company forecasts 2023 revenue between $55.0 million and $60.0 million with adjusted EBITDA guidance of a loss between $(50.0) million and $(48.0) million.
Science 37 Holdings, Inc. (Nasdaq: SNCE) will present at the Cowen 43rd Annual Health Care Conference in Boston on March 8, 2023, at 9:10 a.m. ET. The presentation will be accessible live and archived on the company's investor relations website.
Science 37 is a leader in accelerating clinical research through its unique Metasite™, allowing universal access for patients. This innovative model expands patient recruitment capabilities while ensuring diversity, enabling participation from home or local providers. The company is committed to delivering high-quality data using advanced technology and in-house expertise.
Science 37 Holdings (Nasdaq: SNCE) will announce its fourth quarter 2022 financial results before the market opens on March 6, 2023. The management team will hold a conference call at 8:30 a.m. ET on the same day to discuss the results, accessible via phone or through an online link for immediate connection. Science 37 focuses on accelerating clinical research by providing universal trial access, employing a proprietary technology platform to enhance patient diversity and participation flexibility. The firm operates as a single Metasite™ to facilitate research participation, allowing remote access or traditional site involvement as needed.
