PRAGUE, Czech Republic and DURHAM, N.C., Dec. 04, 2025 (GLOBE NEWSWIRE) -- SCTbio, a leading European CDMO specializing in GMP manufacturing for cell-based products, and Fortrea, a leading global contract research organization (CRO), today announced a strategic collaboration agreement between the two companies. This partnership aims to streamline development, accelerate timelines and bring advanced therapies to patients faster. This collaboration represents a forward-looking model for how CDMOs and CROs can ...

Fortrea Holdings (NasdaqGS:FTRE) FY Conference December 03, 2025 10:50 AM ET Company ParticipantsAnshul Thakral - CEOJill McConnell - CFOConference Call ParticipantsElizabeth Anderson - Health Care Services and CRO AnalystElizabeth AndersonAll right, kicking off. Thank you, everybody, for joining us in person and online. It's very nice to have you with us today. My name is Elizabeth Anderson. I'm the Health Care Services and CRO analyst here at Evercore. Very, very happy to be joined by Anshul Thakral, CEO ...

Question-and-Answer SessionAnd we can just dive in, Anshul, I guess to start, 3Q, obviously, you saw a nice bounce back on the book-to-bill side. I think it was 1.13x. Can you just discuss what you saw from 2Q to 3Q sequentially on the customer sentiment biotech, large pharma, would be great to just dive into the backdrop and what drove the nice step up for you guys.Anshul ThakralCEO & Director Yes, sure. Happy to. Well, first of all, Patrick, thanks for having us here. I think -- thanks for picking a nice ...

Fortrea Holdings (NasdaqGS:FTRE) FY 2025 Conference December 02, 2025 01:00 PM ET Company ParticipantsJill McConnell - CFOAnshul Thakral - CEOConference Call ParticipantsNone - Analyst 2None - Analyst 1Patrick Donnelly - AnalystPatrick DonnellyAll right. We can look to get started. Thank you for joining us. I'm Patrick Donnelly, the tools diagnostics CRO analyst here at Citi. Happy to have Anshul and Jill with us from Fortrea, and we can just dive in. Anshul, I guess to start, 3Q obviously saw a nice bounce ...

Fortrea Holdings (NasdaqGS:FTRE) FY 2025 Conference December 02, 2025 01:00 PM ET Company ParticipantsJill McConnell - CFOAnshul Thakral - CEOConference Call ParticipantsNone - Analyst 2None - Analyst 1Patrick Donnelly - AnalystPatrick DonnellyAll right. We can look to get started. Thank you for joining us. I'm Patrick Donnelly, the tools diagnostics CRO analyst here at Citi. Happy to have Anshul and Jill with us from Fortrea, and we can just dive in. Anshul, I guess to start, 3Q obviously saw a nice bounce ...

Financial Data and Key Metrics Changes - The company reported a book-to-bill ratio of 1.13 times in Q3, indicating a recovery from Q2 [3] - The management highlighted a significant improvement in cash flow and a reduction in debt, having paid down approximately $77 million of senior secured notes [38][39] Business Line Data and Key Metrics Changes - The company has seen an increase in RFP volumes, particularly from new clients across various phases of clinical trials, including small biotech and large pharma [5][6] - The phase one business has continued to grow, contributing positively to the overall performance [50] Market Data and Key Metrics Changes - The biotech funding environment is showing signs of improvement, although it has not yet returned to the levels seen in 2018 and 2019 [12] - The company has not experienced significant cancellations, maintaining a consistent cancellation rate in line with historical norms [85][86] Company Strategy and Development Direction - The company is focusing on operational excellence, project management, and financial discipline to enhance profitability and growth [20][21] - A bespoke go-to-market strategy is being implemented to better serve biotech clients, emphasizing the right resource allocation and project-level profitability [10][11][72] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the market, noting a return to growth and improved customer sentiment following a leadership transition [2][3] - The company is committed to continuous improvement in project management and operational efficiency, with a focus on long-term growth [20][21][72] Other Important Information - The company has set a revenue guidance of $2.7-$2.75 billion for the year, with a focus on maintaining margins despite the impact of pass-throughs [58][60] - Cost-saving initiatives are on track, with a target of $150 million in gross savings, of which a portion is being reinvested in employee development [52][53] Q&A Session Summary Question: How does the company view the current debt situation? - The company has focused on debt repayment since the spin-off, successfully reducing debt by approximately 30% and continuing to prioritize debt pay down alongside targeted investments for growth [38][39][44] Question: What is the company's approach to pricing in the competitive landscape? - The company has chosen not to engage in aggressive pricing strategies, focusing instead on maintaining healthy margins and project profitability [30][31][32] Question: How does the company plan to manage operational changes moving forward? - Management emphasized the importance of project-level profitability and the need for the right systems and processes to manage projects effectively [72][73][74] Question: What is the outlook for cancellations in the industry? - The company has maintained a consistent cancellation rate, with no significant deviations from historical norms, unlike some competitors facing higher cancellation rates due to specific market exposures [85][86] Question: How is the company responding to the evolving pharma landscape? - Management noted a shift in customer willingness to move forward with trials, indicating a more stable operating environment following recent policy changes [87][89]

Core Insights - Fortrea, a leading global contract research organization (CRO), is actively participating in key healthcare conferences in December 2025, showcasing its commitment to engaging with investors and stakeholders [1][2]. Company Overview - Fortrea (Nasdaq: FTRE) provides clinical development solutions to the life sciences industry, partnering with biopharmaceutical, biotechnology, medical device, and diagnostic companies to accelerate healthcare innovation [3]. - The company offers a range of services including phase I-IV clinical trial management, clinical pharmacology, and consulting, leveraging over three decades of experience across more than 20 therapeutic areas [3]. - Fortrea operates in approximately 100 countries, emphasizing a diverse and talented team to deliver agile solutions globally [3].

Core Viewpoint - Fortrea has successfully completed a debt tender offer, purchasing $75,743,000 of its outstanding Senior Secured Notes, which is part of its strategy to optimize its capital structure and manage its financial resources effectively [1][2]. Group 1: Debt Tender Offer Details - The tender offer involved repurchasing a portion of the 7.500% Senior Secured Notes due 2030, reducing the outstanding principal from $570,000,000 to $494,257,000 [1]. - The total principal amount of Notes validly tendered exceeded $75,744,000, and the company accepted for purchase $75,743,000 based on a Final Proration Factor of 0.154199 [2]. Group 2: Financial Management and Strategy - The transaction was funded entirely with cash on hand, highlighting the strength of Fortrea's balance sheet and disciplined financial management [2]. - The completion of the tender offer aligns with the company's divestiture of its Fortrea Patient Access and Endpoint Clinical businesses, which was finalized in June 2024 [1]. Group 3: Company Overview - Fortrea is a leading global provider of clinical development solutions, partnering with biopharmaceutical, biotechnology, medical device, and diagnostic companies to drive healthcare innovation [3]. - The company offers a range of services including phase I-IV clinical trial management and consulting, leveraging over three decades of experience across more than 20 therapeutic areas [3].

Core Insights - Fortrea has appointed Agnieszka (Aggie) M. Gallagher as general counsel, responsible for the company's legal strategy and operations, succeeding J. Stillman Hanson [1][2] - Gallagher brings over 25 years of experience in the life sciences sector, having held leadership roles in various companies including Standard Biotools, Orasure Technologies, and Alnylam Pharmaceuticals [2][3] - Gallagher expressed enthusiasm about joining Fortrea during a pivotal moment and looks forward to collaborating with the global team to accelerate innovative treatments [4] Company Overview - Fortrea is a leading global contract research organization (CRO) that provides clinical development solutions to the life sciences industry, partnering with biopharmaceutical, biotechnology, medical device, and diagnostic companies [1][4] - The company offers phase I-IV clinical trial management, clinical pharmacology, and consulting services, leveraging over 30 years of experience across more than 20 therapeutic areas [4] - Fortrea operates in approximately 100 countries, delivering focused and agile solutions to its customers globally [4]

Core Insights - Velocity Clinical Research has appointed Andrew (Drew) Reina as Chief Revenue Officer, effective immediately, to enhance its strategic partnerships and revenue growth [1][2][3] Company Overview - Velocity is a leading integrated site organization for clinical trials, operating over 70 sites with more than 200 investigators, partnering with pharmaceutical and biotechnology companies [7] - The company aims to set the standard for strategic relationships between multisite clinical research corporations, Sponsors, and CRO partners [2] Leadership and Experience - Drew Reina brings over two decades of global clinical research experience, previously serving as Vice President and Head of Sales at Fortrea, where he led a high-performing commercial organization [4][5] - His experience includes overseeing a $1 billion+ global portfolio at PPD's Biopharma segment, focusing on strategic partnerships and alliance management [5] Strategic Goals - As CRO, Drew will drive growth through strategic partnerships with Sponsors and CROs, aligning business development, marketing, and network operations to ensure consistent revenue performance [6] - The organization is positioned to meet the evolving needs of clinical research, helping to accelerate speed to market and alleviate burdens on sites and patients [4][6] Technological Advancements - Velocity operates a technology hub in India, developing innovative systems to leverage expansive site, patient, and historical performance data, enhancing efficiency in clinical trials [8]