Welcome to our dedicated page for Clarivate Plc news (Ticker: CLVT), a resource for investors and traders seeking the latest updates and insights on Clarivate Plc stock.
Clarivate Plc (NYSE: CLVT) is a leading global provider of transformative intelligence, offering enriched data, insights, analytics, workflow solutions, and expert services across various sectors including Academia & Government, Intellectual Property, and Life Sciences & Healthcare. Formerly part of Thomson Reuters, Clarivate became an independent company in 2016 and went public on the New York Stock Exchange in 2019. The company is headquartered in London with operations in over 100 countries and a workforce of over 4,000 employees.
Clarivate serves a diverse clientele, ranging from academia, government, law, life sciences, and healthcare. Some of its most trusted brands include Web of Science™, Cortellis™, Derwent™, CompuMark™, MarkMonitor®, and Techstreet™. These brands offer specialized services such as scientific and academic research, patent analytics, pharmaceutical and biotech intelligence, and IP management. Researchers and organizations globally rely on Clarivate's curated knowledge bases to accelerate innovation and bring new ideas to market more efficiently.
Recently, Clarivate has been recognized for its ongoing efforts and achievements. The company has made significant strides in the realm of cancer treatment research, particularly in the area of CAR T-cell therapies. According to a three-part report published by BioWorld™, Clarivate is exploring the rapid pipeline growth and clinical trials in CAR T therapy development in China. This report is part of the company’s commitment to providing valuable insights into groundbreaking treatments and their potential market impacts.
Additionally, Clarivate has launched key updates to its Cortellis CMC Intelligence™ solution, introducing a new post-approval variations module. This update assists pharmaceutical, biotech, and generics companies in streamlining regulatory tracking and optimizing lifecycle management for both small molecules and biologics.
The company also introduced Epidemiology Intelligence™, combining epidemiological data with U.S. claims-based population insights to help biopharma companies accurately gauge market size and target patient demographics. Another significant launch was the Trademark Watch Analyzer, an AI-enhanced trademark protection solution providing faster and more accurate answers to critical business questions by leveraging global trademark and case law data.
Financially, Clarivate reported a slight decrease in revenues for the first quarter of 2024, yet showed resilience and strategic focus on long-term growth. The company continues to invest in product development and operational initiatives to drive future organic revenue growth. Their financial stability is underscored by substantial cash flow and a clear strategy for debt management.
Clarivate’s strategic partnerships, such as the recent collaboration with HealthWise Data, further enhance its offerings by integrating Social Determinants of Health (SDoH) attributes into its Real-World Data repository, contributing to enhanced patient outcomes and healthcare equity.
For more information about Clarivate, its products, and services, visit www.clarivate.com.
On September 9, 2021, Clarivate Plc (NYSE: CLVT) announced an underwritten public offering of 25 million ordinary shares, managed by Citigroup and Barclays. The offering includes a 30-day option for underwriters to purchase an additional 3.75 million shares. The proceeds from this offering will be received entirely by the Selling Shareholders, Onex Corporation and Baring Private Equity Asia Group Ltd. The sale will occur under an effective shelf registration statement, and investors are encouraged to review all related documents filed with the SEC for complete information.
Clarivate Plc (NYSE: CLVT) announced that Jerre Stead, Executive Chairman and CEO, along with CFO Richard Hanks, will speak at the Barclays Global Financial Services Conference on September 15, 2021, at 11:15 AM ET. A live webcast will be available on their Investor Relations page, with a replay accessible for 30 days post-event. Clarivate is dedicated to accelerating innovation by providing trusted information and insights to help customers navigate complex problems in science and intellectual property.
On August 19, 2021, Clarivate Plc (NYSE: CLVT) announced the successful settlement of private exchange offers for its outstanding 3.875% Senior Secured Notes due 2028 and 4.875% Senior Notes due 2029. Approximately 92.1% of these notes were tendered, allowing the issuance of new notes totaling around $921 million each. The new notes extend the redemption deadline to April 29, 2022. Additionally, a notice of redemption for untendered notes was sent out, with a redemption date set for August 23, 2021. These offers were conducted without registration under the U.S. Securities Act, targeting eligible holders only.
Clarivate announced the expiration of two private exchange offers for outstanding notes as of August 13, 2021. The offers, which affected the 3.875% Senior Secured Notes due 2028 and 4.875% Senior Notes due 2029, allowed for the exchange of old notes for new notes with an extended redemption date to April 29, 2022. A principal amount of $920,897,000 for the 3.875% notes and $920,349,000 for the 4.875% notes is expected to be accepted. The settlement date is anticipated on August 19, 2021, with no cash proceeds to Clarivate from the exchange.
Clarivate Plc (NYSE: CLVT) has announced an exchange offer for two series of its outstanding notes, totaling $2 billion, as part of its ongoing acquisition of ProQuest. The exchange is in response to a second request for documents from the FTC, extending the acquisition completion date to December 31, 2021. If the acquisition is not finalized by this date, the company may redeem the old notes. The new notes will mirror the old ones, with terms extending up to April 29, 2022, and will mature shortly after the old notes. The exchange offers are set to expire on August 13, 2021.
Clarivate Plc (NYSE:CLVT) has acquired Bioinfogate, a provider of analytics solutions in life sciences, including the OFF-X™ portal. The OFF-X portal is a significant resource, containing over 1.2 million safety alerts related to 23,000 drugs and biologics. This acquisition aims to enhance drug toxicity data integration across the life science cycle, allowing for improved decision-making in drug development. Although financial terms were not disclosed, the acquisition is expected to strengthen Clarivate's offerings, particularly in translational safety intelligence.
Clarivate Plc (NYSE: CLVT; CLVT PR A) announced a $250 million share repurchase program to be executed through October 31, 2021. The Board of Directors expressed confidence in the company's growth prospects and stated that this buyback represents an attractive investment opportunity. The purchases will be funded with existing cash balances, reflecting strong earnings and cash flow, as noted by Executive Chairman and CEO Jerre Stead.
Clarivate reported strong Q2 2021 results, with revenues of $445.6 million, a 62.9% increase year-over-year. Adjusted EBITDA reached $189.0 million (up 88.8%). Despite a net loss of $82.2 million, adjusted net income was $110.0 million, a 58.3% rise. The company saw organic revenue growth of 5% at constant currency. Cash flow from operations increased to $261.7 million. Looking ahead, Clarivate expects organic revenue growth for 2021 to be at the upper end of 6% to 8%.
Clarivate Plc (NYSE: CLVT) has launched the Cortellis Supply Chain Network™, aimed at enhancing supply chain efficiency in the biopharma sector. This platform connects over 70,000 buyers and sellers, facilitating better identification of partners and management of procurement processes. The initiative addresses vulnerabilities exposed by the COVID-19 pandemic, which highlighted the need for greater supply chain transparency. By providing continuously updated manufacturing data and insights on supply risks, the network aims to ensure more accessible therapies for patients.
Clarivate Plc (NYSE:CLVT; CLVT PR A) declared a quarterly dividend of approximately $1.12 per share on its 5.25% Series A Mandatory Convertible Preferred Shares. This dividend is payable on September 1, 2021, to shareholders of record by August 15, 2021. The payment will be made in ordinary shares rather than cash, as per the governing Statement of Rights. The number of shares delivered will be based on the average volume-weighted price over the five trading days ending before the payment date.
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