Fortrea Holdings Stock Price, News & Analysis

Fortrea (Nasdaq: FTRE), a leading global contract research organization (CRO), has appointed Tracy Krumme as Senior Vice President of Investor Relations, replacing Hima Inguva. Reporting to CFO Jill McConnell, Krumme will lead the company's global investor relations strategy.

Krumme brings over 30 years of experience in investor relations and capital markets, with significant expertise in the CRO, life sciences, and healthcare sectors. Her previous roles include head of investor relations at PPD (acquired by Thermo Fisher Scientific), Galderma, and Nuance Communications (acquired by Microsoft). She has worked alongside Fortrea's current CEO Anshul Thakral during her tenure at PPD.

Fortrea (Nasdaq: FTRE), a leading global contract research organization (CRO), has announced employment inducement awards for its new President and CEO, Anshul Thakral, effective August 4, 2025.

The compensation package includes 1,250,000 performance share units (PSUs) that vest after three years subject to performance goals, and 1,250,000 restricted stock units (RSUs) that vest in three equal annual installments. Both awards are contingent on continuous employment or earlier vesting due to change of control and certain termination events.

The grants were approved by independent board members under the Company's 2025 Inducement Award Plan, complying with Nasdaq Listing Rule 5635(c)(4).

Fortrea (Nasdaq: FTRE), a leading global contract research organization (CRO), has scheduled its second quarter 2025 financial results announcement for Wednesday, August 6, 2025, before market opening. The company will host a conference call at 8:00 am ET the same day.

The earnings call will include a results review and Q&A session. Participants must register through Fortrea's Investor Relations website and are advised to join 10 minutes early. A replay will be available in the events and presentations section after the call.

Fortrea (Nasdaq: FTRE) has announced a strategic collaboration with Emery Pharma to provide rapid lot-by-lot MNP testing of rifampin for drug-drug interaction (DDI) studies. The partnership ensures rifampin impurities remain below FDA's Acceptable Intake Limit.

The collaboration enables sponsors to use rifampin, the preferred agent for DDI studies, by addressing previous concerns about nitrosamine impurity levels. This follows FDA's 2023 guidance updating acceptable MNP limits for rifampin, after their 2021 finding that all tested batches exceeded previous limits.

Through this partnership, Fortrea combines its clinical conduct capabilities with Emery Pharma's GLP and GMP testing expertise to enhance early-phase trial safety and efficiency.

Fortrea (FTRE) has announced the adoption of a limited-duration stockholder rights plan ("poison pill") effective immediately until June 10, 2026. The plan was implemented in response to significant stock price volatility and third-party interest in accumulating shares. Under the plan, stockholders will receive one right per common share as of June 23, 2025. These rights become exercisable if any entity acquires 10% or more of Fortrea's outstanding common stock. When triggered, rights holders can purchase company shares at a 50% discount, excluding the triggering entity. The plan aims to protect stockholder interests, ensure fair treatment in potential takeover situations, and give the Board sufficient time to evaluate any acquisition proposals. Barclays is serving as strategic advisor and Smith Anderson as legal advisor to Fortrea.

Fortrea (FTRE) has appointed Anshul Thakral as its new Chief Executive Officer, effective August 4, 2025. Thakral, who brings over 20 years of life sciences experience, will succeed Interim CEO Peter M. Neupert, who will continue as chairman of the board. The new CEO will focus on executing the company's transformation plan, driving profitable growth, and creating value for customers, employees, and shareholders. Thakral's appointment comes with a board director position, and his extensive background includes roles as an executive, commercial leader, advisor, and entrepreneur in the life sciences sector. The company aims to leverage his expertise in business development and customer engagement to modernize clinical trials and enhance drug development solutions.

Fortrea (FTRE), a global contract research organization (CRO), announced that Chairman and Interim CEO Peter M. Neupert and CFO Jill McConnell will present at the Jefferies Global Healthcare Conference on June 5, 2025, at 8:45 am ET. Investors can access the live webcast through Fortrea's Investor Relations website, with a replay available after the event. The presentation represents an opportunity for the company to share updates and insights with the investment community.

Fortrea (FTRE) reported its Q1 2025 financial results, showing revenues of $651.3 million, down from $662.1 million in Q1 2024. The company posted a significant GAAP net loss of $(562.9) million, largely due to a non-cash goodwill impairment charge of $488.8 million. Adjusted EBITDA improved to $30.3 million from $27.1 million year-over-year.

The company maintained a positive book-to-bill ratio of 1.02x for the quarter and 1.14x for trailing 12 months, with a backlog of $7,721 million. Fortrea reaffirmed its 2025 guidance, projecting revenues of $2,450-$2,550 million and adjusted EBITDA of $170-200 million. Additionally, the company announced a leadership change, with Lead Independent Director Peter M. Neupert replacing Thomas Pike as Interim CEO and Board Chair effective May 13, 2025.

Fortrea (FTRE) announced that CEO Thomas Pike is stepping down from his role as Chief Executive Officer and Chairman of the Board, effective May 13, 2025. Peter M. Neupert, the company's Lead Independent Director, will serve as Interim CEO and Board Chair. The company has already initiated an executive search process at an advanced stage, and Pike will remain as a consultant during the transition period.

Neupert brings significant healthcare and technology industry experience, having served as an Operating Partner at Health Evolution Partners and Corporate Vice President at Microsoft's Health Solutions Group. The leadership change comes as Fortrea approaches its two-year anniversary as an independent contract research organization (CRO).

The company will hold its earnings conference call on May 12, 2025, at 9 a.m. ET.