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Science 37 Holdings, Inc. (Nasdaq: SNCE) is a pioneering company based in Los Angeles that specializes in accelerating biomedical discovery through innovative, patient-centric clinical research models. Utilizing cutting-edge telemedicine technology, Science 37 offers a comprehensive range of services for conducting networked clinical trials, making it an invaluable partner for investigators, inventors, biotech firms, and large pharmaceutical companies.
At the core of Science 37's operations is the Metasite™, a proprietary virtual site platform that allows patients to participate in clinical trials from the comfort of their own homes or local healthcare providers. Powered by in-house medical and operational experts, the Metasite™ ensures uniform study orchestration, greater compliance, and high-quality data, thereby making clinical trials more accessible and efficient.
Science 37 leverages a vast network of partnerships with national mobile nursing companies, pharmacy chains, patient advocacy groups, and technology companies to streamline the clinical trial process. The company's recent achievements include the successful completion of a reverse stock split and a partnership with leading telemedicine companies, which has significantly expanded its reach and capabilities.
Noteworthy recent developments include the approval of a reverse stock split to comply with Nasdaq listing requirements and the commencement of a cash tender offer by eMed to purchase all outstanding shares of Science 37 at $5.75 per share. This move, coupled with the company's continuous efforts in enhancing patient recruitment through AI-powered screening and centralized processes, underscores its commitment to innovation and operational excellence.
Science 37 has also been recognized for its transformative impact on clinical research, winning the “Clinical Efficiency Innovation Award” at the 8th annual MedTech Breakthrough Awards. This award highlights the company's unique approach to patient recruitment, which has significantly improved patient randomization rates and site satisfaction.
For more detailed information and to stay updated on the latest developments, please visit Science 37's website.
Science 37 Holdings (Nasdaq: SNCE) has partnered with Syapse to improve patient recruitment for oncology clinical trials through real-world data analytics. This collaboration aims to address the significant enrollment delays—often costing trial sponsors over $20 million monthly—by leveraging Syapse's patient identification capabilities and Science 37's agile trial systems. With over 3,700 active oncology trials globally and R&D spending projected at $70 billion in 2022, this partnership could enhance trial efficiency and accelerate access to new treatments for patients in need.
Science 37 Holdings, Inc. (SNCE) reported a 54% year-over-year increase in revenue for Q2 2022, totaling $19.3 million. However, net bookings decreased to $25.4 million from $44.1 million year-over-year. The adjusted gross profit rose slightly to $5.9 million, with an adjusted gross margin of 30.6%. The net loss was $5.8 million, improving from a $7.7 million loss in the prior year. The company estimates full-year revenue between $76 million and $86 million, and adjusted EBITDA guidance of $(65) million to $(69) million.
Science 37 Holdings, Inc. (Nasdaq: SNCE) announces it will release its second quarter 2022 financial results on August 11, 2022, before the market opens. The company's management will host a conference call at 8:30 a.m. Eastern Time to discuss the results. Participants can access the call by registering online for dial-in information or through a live audio webcast. A replay will be available shortly after the call and will remain accessible for approximately 90 days.
Science 37 Holdings, Inc. (Nasdaq: SNCE) will participate in two major virtual investor conferences this June. The first is the Lytham Partners Summer 2022 Investor Conference from June 21-22, where a presentation will be available starting June 21 at 9:00 a.m. Eastern Time. The second event is the Cowen 7th Annual FutureHealth Conference on June 23 at 3:25 p.m. Eastern Time, featuring a panel discussion on clinical trial access and affordability. Webcasts can be accessed via the company's Investor Relations page.
Science 37 Holdings (Nasdaq: SNCE) will present at the William Blair Growth Stock Conference in Chicago on June 8, 2022, at 3:20 p.m. CT. The company aims to enhance participation in clinical trials through its Agile Clinical Trial Operating System, designed for decentralized research. This platform boasts significant advantages, including up to 15x faster enrollment and a 28% increase in patient retention rates, ensuring diverse patient participation. A live and archived webcast of the presentation will be available on the investor relations section of Science 37's website.
Science 37 Holdings (Nasdaq: SNCE) has launched a new rapid-deployment virtual site model aimed at addressing slow enrollment in clinical trials. Named Metasite Rescue™, this model allows sponsors to engage patients remotely, without geographic constraints, ultimately enhancing patient access and participation. The solution can be implemented within four weeks and has demonstrated the potential to accelerate enrollment by up to 21 times. This innovative approach seeks to mitigate delays in 16,000 active trials worldwide, improving efficiency in trial execution.
Science 37 Holdings (Nasdaq: SNCE) has launched a groundbreaking technology release designed to optimize decentralized clinical trials (DCTs). This platform enhances compliance, data quality, and unifies stakeholder experiences, addressing the challenges associated with fragmented point-solution technologies. Key features of the release include an eCOA library and automated global study rollout capabilities. Collaborations with Boehringer Ingelheim and Thermo Fisher Scientific underscore its innovative potential, aiming for faster patient-centric clinical development. The enhanced platform promises to streamline clinical trial management significantly.
Science 37 Holdings, Inc. (SNCE) reported a 50% year-over-year revenue growth of $18.7 million for Q1 2022. Net bookings dropped to $30.6 million, influenced by cancellations of major COVID studies, down from $40.7 million in Q1 2021. The company recorded a net income of $44.9 million, driven by a non-cash gain of $75.5 million from revaluation of earn-out liability, contrasting with a net loss of $6.8 million in the previous year. Adjusted net loss increased to $23.3 million. Science 37 maintains its revenue guidance of $86 million to $96 million for FY 2022 while expecting adjusted EBITDA of $(65) million to $(69) million.
Science 37 Holdings, Inc. (Nasdaq: SNCE) will report its first quarter 2022 financial results on May 9, 2022, before market opening. A conference call with management will occur at 5:00 a.m. PT / 8:00 a.m. ET, available via telephone and webcast. Science 37 specializes in decentralized clinical trials, aiming to enhance access and efficiency in clinical research through its Agile Clinical Trial Operating System. The company reports significant advancements in trial enrollment speed, participant retention, and diversity, which are integral to its operational model.
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