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.
Clarivate Plc (NYSE:CLVT) has announced the full agenda for the 15th annual Clarivate Pharmavision India conference, scheduled for September 25-26, 2024, in Ahmedabad and Hyderabad. The event focuses on improving patient outcomes and building resilience in the healthcare ecosystem. Key topics include AI in healthcare, cell and gene therapy, and market access.
The conference aims to address challenges such as healthcare affordability and access in India. Industry leaders will discuss strategies for patient-centric innovation, R&D, generics, biosimilars, and healthcare manufacturing. Notable sessions will cover topics like balancing generics and innovation, AI's role in healthcare, and addressing barriers to cell and gene therapy integration in India.
Clarivate Plc (NYSE:CLVT) has launched Primo™ Research Assistant, a generative AI-powered library discovery solution. Developed in collaboration with library partners, it offers students and researchers a seamless experience with natural language queries and immediate answers grounded in trusted sources. Key features include:
- Semantic search and natural language queries
- AI-powered answers with source references
- Search suggestions for topic expansion
- Multi-language support
The solution is built on a Retrieval Augmented Generation (RAG) architecture and utilizes the Ex Libris Central Discovery Index (CDI), containing over 5 billion records. The beta program, which began in June 2024, involved 18 institutions across 10 countries. Clarivate aims to responsibly apply AI in academia, fostering trust and innovation in research.
Clarivate Plc (NYSE:CLVT) has released its first Pulse of the Library™ report, revealing insights on Artificial Intelligence (AI) implementation in libraries. The report, based on a survey of over 1,500 librarians worldwide, shows that:
- Over 60% of libraries are evaluating or planning for AI integration
- 43% prioritize AI-powered tools for users in the next 12 months
- Key AI goals include supporting student learning (52%), research excellence (47%), and content discoverability (45%)
- 42% believe AI can automate routine tasks, freeing librarians for strategic activities
- Challenges include shrinking budgets (47%) and lack of AI expertise (32% report no training available)
The report highlights regional differences in priorities and emphasizes the need for collaboration between IT experts and senior leadership to advance AI implementation in libraries.
Clarivate Plc (NYSE: CLVT), a global leader in transformative intelligence, has announced its participation in the upcoming Goldman Sachs Communacopia + Technology Conference. Jonathan Collins, Executive Vice President and Chief Financial Officer, will represent the company at the event on Thursday, September 12, 2024, at 8:50 am Pacific Time (11:50 am Eastern Time).
Interested parties can access the live webcast of the presentation through a provided link. For those unable to attend in real-time, a replay will be available on the same platform. Additionally, the presentation will be archived on Clarivate's investor relations website for 180 days, ensuring extended access for stakeholders and interested investors.
Clarivate Plc (NYSE:CLVT) has launched the Web of Science™ Research Assistant, a generative AI-powered tool designed to enhance research efficiency. Developed in partnership with the research community, this tool leverages the Web of Science Core Collection™ to help researchers:
- Find key papers faster
- Handle complex research tasks
- Visualize connections in research fields
The Research Assistant offers flexible document searches, guided prompts, and unique data visualizations. It entered beta testing in December 2023 and was created in collaboration with librarians and researchers worldwide to ensure high standards of quality, accuracy, and privacy.
Clarivate (NYSE: CLVT), a global provider of transformative intelligence, has appointed Melanie Margolin to the expanded role of Chief Administrative and Legal Officer.
Joining the company in September 2023 as Executive Vice President and Chief Legal Officer, Margolin will now oversee human resources, facilities, communications, and brand functions, in addition to global legal affairs, risk, sustainability, privacy, and compliance.
CEO Matti Shem Tov commended Margolin for her strategic insights and emphasis on talent development, reflecting her people-centric leadership style. Margolin expressed her commitment to fostering collaboration and growth at Clarivate.
Clarivate Plc (NYSE: CLVT), a leading global provider of transformative intelligence, has announced its participation in the Oppenheimer 27th Annual Technology, Internet & Communications Virtual Conference. Jonathan Collins, Executive Vice President and Chief Financial Officer, will present on Monday, August 12, 2024, at 2:55 pm Eastern Time.
Investors and interested parties can access the live webcast of the presentation through a provided link. A replay of the webcast will be available on Clarivate's investor relations website for 90 days following the event. This presentation offers an opportunity for stakeholders to gain insights into Clarivate's current position and future strategies in the technology and information services sector.
Clarivate Plc (NYSE: CLVT) has announced a significant leadership change. Matti Shem Tov, former CEO of ProQuest, will become the company's new CEO effective August 9, 2024, replacing Jonathan Gear. Shem Tov will also join the Board of Directors. Gear will transition to a non-executive role until November 1, 2024.
The Board and Gear mutually agreed on this transition, aiming to take Clarivate into its next phase of value creation. Under Gear's leadership, Clarivate restructured into three end-market segments, enhanced product innovation, and strengthened its balance sheet. The company is now positioned to leverage expertise within each business segment to deliver tailored solutions globally.
Shem Tov's appointment is expected to accelerate Clarivate's organic growth, leveraging his experience in product innovation and market delivery. The change comes as Clarivate reported its second quarter 2024 results.
Clarivate (NYSE: CLVT) reported its Q2 2024 financial results, showing a 2.8% revenue decrease to $650.3 million. Organic revenues dipped 0.6%, with an increase of 0.7% in subscription revenues offset by declines in re-occurring and transactional revenues.
The company posted a net loss of $304.3 million, with adjusted net income down 6.6% to $142.2 million. Adjusted diluted EPS fell 4.8% to $0.20. Adjusted EBITDA decreased by 3.7% to $274.4 million, with a margin contraction to 42.2%.
For the six months ending June 30, 2024, revenues totaled $1.27 billion, a 2% decline. Net loss for this period was $379.3 million, and adjusted net income dropped 13.2% to $245.7 million. Adjusted diluted EPS was down 12.8% to $0.34. Adjusted EBITDA was $510.7 million, a 5% decrease.
Free cash flow plummeted by $44.5 million in Q2 to $60.3 million and by $100.9 million for the first half of the year to $172.1 million.
The company reaffirmed its 2024 outlook and highlighted new product launches and positive customer responses.
Clarivate Plc (NYSE:CLVT) has launched the new OFF-X™ platform, an enhanced solution for preclinical and clinical safety intelligence in biopharma. The platform offers a seamless user experience and unique translational insights, delivering important drug and target safety intelligence to proactively identify risks. Fully integrated with Cortellis Drug Discovery Intelligence™, OFF-X™ provides a comprehensive resource for safety information, streamlining processes and enhancing efficiency.
Key improvements include an 80% reduction in loading times for targets, drugs, drug combinations, and adverse events, faster search capabilities, clearer visual design, full-screen visualization, and additional analytic tools. The platform empowers users to monitor and anticipate toxicology and safety signals, mitigate safety liabilities, and de-risk assets across all phases of drug R&D and post-marketing.
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