Welcome to our dedicated page for Syneos Health news (Ticker: SYNH), a resource for investors and traders seeking the latest updates and insights on Syneos Health stock.
Syneos Health, Inc. (Nasdaq: SYNH) is a prominent player in the biopharmaceutical solutions industry, offering comprehensive end-to-end clinical and commercial services. With a mission to shorten the distance from lab to life, the company is dedicated to accelerating the success of its clients in the biopharmaceutical sector.
Formed from the merger of INC Research and inVentiv Health, Syneos Health stands out as the only fully integrated biopharmaceutical solutions organization. The company leverages its extensive expertise and data insights to navigate the complexities of today's marketplace, providing smarter and faster solutions to its clients. Its services range from clinical trials to commercialization, ensuring that therapies reach patients efficiently.
Headquartered in Morrisville, N.C., Syneos Health operates in more than 110 countries, employing a talented team of professionals who deeply understand patient and physician behaviors as well as market dynamics. The company is committed to fostering a diverse, equitable, and inclusive culture, focusing on the well-being of its colleagues, customers, patients, communities, and the environment.
One of Syneos Health's recent significant achievements includes an agreement to go private through an acquisition by a consortium of private investment firms, which includes Elliott Investment Management L.P., Patient Square Capital, and Veritas Capital. This transaction, approved by the company's stockholders, is expected to bolster Syneos Health's growth priorities and enhance its ability to deliver integrated solutions to its clients.
Among its current projects, Syneos Health has been enhancing its patient recruitment capabilities through a collaboration with Oracle Cerner LHN to address unmet needs in clinical trial enrollment and diversity. Furthermore, the company continues to invest in technology and data solutions to optimize clinical development and performance for its customers.
Financially, Syneos Health operates on solid footing, with ongoing support from its new private investors poised to further accelerate its transformation and fuel investments in technology. The company's commitment to innovation and customer success positions it as a leading force in the biopharmaceutical industry.
To stay updated on Syneos Health's latest developments, including their quarterly reports and strategic initiatives, visit syneoshealth.com and subscribe to their podcast.
On April 4, 2023, Syneos Health (Nasdaq: SYNH) appointed Jeanine O’Kane as President of Syneos Health Communications, expanding her role from President of the US Public Relations Group. With over 20 years of industry experience and more than a decade at Syneos, O’Kane has been pivotal in creating award-winning communication strategies that integrate with clinical development. Chief Operating Officer Michael Brooks highlighted the importance of her leadership in driving growth and enterprise value amid fast-evolving scientific demands. Syneos Health Communications is recognized for impactful communication programs that enhance customer success globally.
Syneos Health (Nasdaq: SYNH) announced the launch of the Medical Affairs Digital Amplifier, a program aimed at enhancing scientific exchange for Medical Science Liaison teams and medical conferences. This initiative is designed to improve access to medical education for healthcare professionals, ultimately aiming to optimize patient outcomes.
The program features two components: the MSL Digital Amplifier, which automates educational communication, and the Conference Digital Amplifier, enhancing outreach during and post-industry events. This launch demonstrates Syneos Health's commitment to leveraging technology to advance customer success in biopharmaceuticals.
Syneos Health (Nasdaq:SYNH) recently announced a strategic partnership with KX, the creator of the world's fastest time series database. This collaboration aims to enhance clinical trial execution through the innovative Data Timehouse, which utilizes data analytics, AI, and ML. The partnership is designed to improve decision-making and reduce costs for biopharmaceutical customers, accelerating the development of life-saving therapies. The integration of Microsoft Azure technology further amplifies the partnership's capabilities, promising up to 100 times faster performance compared to alternative solutions. This initiative is expected to lead to more efficient clinical trials and improved healthcare outcomes.
Syneos Health (Nasdaq:SYNH) announced a multi-year collaboration with Microsoft to enhance clinical trial and commercial program efficiencies using AI technology. The partnership aims to leverage Microsoft Azure services to develop an advanced analytics platform that facilitates faster data processing and better resource allocation. With this AI-driven approach, Syneos Health intends to improve site selection and reduce patient enrollment timelines, ultimately expediting the delivery of therapies. This collaboration aligns with Syneos' goal of using technology to boost healthcare outcomes.
Creative Medical Technology Holdings (NASDAQ: CELZ) has engaged Syneos Health (NASDAQ: SYNH) as the contract research organization for its Phase 1/2 clinical trial of CELZ-201, aimed at treating Type 1 Diabetes. This trial, set to begin in Q1 2023, follows Institutional Review Board approval and FDA clearance for the investigational new drug. CELZ-201 utilizes Perinatal Tissue Derived Cells to potentially address unmet medical needs in diabetes care. The company's CEO highlighted this milestone as a reflection of their commitment to innovative therapies. The economic impact of Type 1 Diabetes in the U.S. is significant, with costs reaching $14.4 billion.
Syneos Health (Nasdaq: SYNH) announced the launch of its Decentralized Clinical Trial (DCT) Site Network on February 28, 2023, aimed at enhancing DCT adoption and delivering high-quality digital health solutions. Initially covering the US and Canada, the network will expand to include various therapeutic areas and locations, including Europe and APAC. This initiative leverages Syneos Health's global connections and aims to streamline site selection and training, fostering a more effective implementation of DCTs. The company continues to invest in technology that integrates patient insights, driving efficiencies and improving clinical trial outcomes.
Syneos Health (Nasdaq:SYNH) reported Q4 2022 revenue of $1,359.9 million, a slight decrease of 1.0% year-over-year, but a 1.7% rise on a constant currency basis. Net income fell 26.9% to $55.5 million, with diluted EPS at $0.54. The Clinical Solutions segment saw a 2.1% decline in revenue, while Commercial Solutions grew by 2.5%. New business awards totaled $937.5 million with a book-to-bill ratio of 0.69x. For FY 2023, the company projects revenue between $4,975 million and $5,175 million. Despite challenges, CEO Michelle Keefe expressed confidence in customer feedback and ongoing transformation efforts.
Syneos Health (Nasdaq:SYNH) will announce its fourth quarter and full year 2022 financial results on February 16, 2023, prior to an earnings call scheduled for 8:00 a.m. ET. Interested participants can access the live webcast from the Investor Relations section of the company’s website. The call will include a presentation of results, and a replay will be available post-event. Syneos Health is a fully integrated biopharmaceutical solutions organization operating in over 110 countries, focusing on accelerating customer success by translating clinical insights into impactful therapies.
Syneos Health (Nasdaq:SYNH) has announced a strategic partnership with Equicare to implement proXimity™, a cloud-based software platform that streamlines the transfer of clinical trial data from electronic health records (EHR) to electronic data capture systems (EDC). This innovation aims to enhance data accuracy and reduce transfer times significantly, with a proof of concept demonstrating a five-fold increase in speed and zero errors in data entry. The platform will facilitate quicker access to vital data for clinical trials, thereby accelerating the development of new therapies, particularly in oncology.
Syneos Health (Nasdaq: SYNH) announced a strategic partnership with Haystack Health to enhance patient recruitment for clinical trials using advanced AI and NLP solutions. This partnership aims to improve the identification and enrollment process, focusing initially on oncology and immunology trials in the US. The collaboration has successfully facilitated near-real-time identification of eligible patients, reducing the burden of screen failures and enhancing recruitment efficiency. The initiative may later extend to additional therapeutic areas and global sites, aiming to streamline clinical development and improve patient care.
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