Science 37 Holdings Inc Stock Price, News & Analysis

Science 37 has enhanced its Operating Systems, enabling deployment of its technology platform into China and Russia. This advancement allows for further penetration into the Asia-Pacific market, facilitating global decentralized clinical trials. The company aims to improve enrollment speed and patient retention, delivering trials in nearly 95 countries across 45 languages. With this upgrade, Science 37 continues to provide flexible and accessible clinical research, vital for developing treatments that can positively affect patients' lives.

Science 37 Holdings, Inc. (Nasdaq: SNCE) has revealed a significant industry shift towards agile and hybrid clinical trials. A recent sentiment study of 127 senior executives indicates that nearly 80% plan to conduct agile trials in 2022, compared to 70% for traditional methods. Oncology is expected to see the highest adoption of decentralized clinical trials (DCT), with 46% of respondents anticipating DCT usage. The study identifies key benefits including increased patient retention and faster recruitment, while also highlighting integration and regulatory challenges.

Science 37 Holdings reported strong financial results for Q3 2021, with revenue of $14.2 million, a 116% increase year-over-year. Net bookings reached $35.9 million, up 342% compared to the same quarter in 2020. Adjusted gross profit was $4.0 million, reflecting an improved adjusted gross margin of 28.4%. However, the company faced a net loss of $14.7 million, leading to diluted earnings per share of $(3.23). For the year, total revenue guidance is set between $53.7 million and $54.2 million.

Science 37 Holdings, Inc. (Nasdaq: SNCE) announced it will report its third quarter 2021 financial results on November 15, 2021, before market opens. A conference call will follow at 5:00 a.m. PT / 8:00 a.m. ET for investors, accessible via phone or archived webcast. The company specializes in decentralized clinical trials, leveraging its Operating System to enhance patient access and accelerate treatment development, achieving faster enrollment and better retention rates.

Science 37 and CMIC HOLDINGS have partnered to enhance decentralized clinical trials, aiming to accelerate treatment development. CMIC will leverage Science 37's Operating System and technology platform to streamline workflows and harmonize data for global studies. This collaboration addresses geographic limitations of traditional trials, allowing broader patient participation. CMIC now joins the Science 37 CRO Certified network, enhancing its capability to execute decentralized studies efficiently. The partnership aligns with Science 37's mission to improve access and speed to market for new therapies.

Science 37 and 3H Medi Solution have announced a partnership to enhance decentralized clinical trials in Japan. This collaboration aims to streamline therapy development by integrating Science 37’s Operating System with 3H Medi Solution’s technology platforms, such as eConsent and telemedicine. By overcoming geographical limits, the partnership promotes greater patient participation and efficiency in drug trials. The alliance positions 3H Medi Solution within the Science 37 CRO Certified network, enhancing their ability to deliver decentralized studies effectively.

Science 37 has strengthened its leadership team by appointing Elisa Cascade as Chief Product Officer and promoting Chris Ceppi to Chief Technology Officer. Cascade, with over 30 years of experience in clinical trial technology, previously held senior roles at ERT and DrugDev. Her expertise aims to enhance Science 37's Operating System, which supports more agile decentralized clinical trials. The company emphasizes its commitment to universal access and diverse patient participation, boasting capabilities like 15x faster enrollment and 28% better retention rates.

Science 37 appointed Emily Rollins to its Board of Directors as Audit Committee chairperson. Rollins, a retired Deloitte partner, brings over 30 years of experience in corporate governance and audit processes, having advised clients across various growth stages. CEO David Coman expressed enthusiasm for her addition, highlighting her commitment to enhancing clinical research access. Rollins emphasized her shared passion for transforming clinical trials to expedite treatment advancements.

Science 37 has officially debuted on Nasdaq under the ticker symbol SNCE following a successful business combination with LifeSci Acquisition II Corp. The merger resulted in approximately $235 million in cash proceeds, aimed at supporting Science 37's growth initiatives. This funding will enhance the company’s decentralized trial technology platform and improve access to clinical research for underserved populations. The goal is to accelerate patient enrollment and retention through innovative approaches in clinical trials.