| Catalyst | Drug/Treatment | Stage | Probability of Approval | Description | Drug Type | Therapeutic Area | Source |
|---|---|---|---|---|---|---|---|
PDUFA 2026 | Phase 3 | -% | FDA review of the new drug application for the treatment of example condition. Read More | Small Molecule | Oncology | ||
PDUFA 2026 | Phase 3 | -% | FDA review of the new drug application for the treatment of example condition. Read More | Small Molecule | Oncology | ||
PDUFA 2026 | Phase 3 | -% | FDA review of the new drug application for the treatment of example condition. Read More | Small Molecule | Oncology |
Recent Updates
Recently added Catalysts
Fortrea Holdings Inc. Common Stock$20.79
+0.08 (+0.39%)
Market Cap
858.33 M
EPS
-10.91
P/E Ratio
-0.84 $
Value Trade
15.78 M
SEC Financials
Q1 2026Dilution Risk
25%Revenue
636.50 M
Operating CF
-17.00 M
Total Assets
2.68 B
Total Liabilities
2.16 B
Equity
525.90 M
D/E Ratio
12,345
%
Week
%
1 Month
%
3 Month
%
6 Month
%
5 Year
%
All Time
Cash Data
Cash Position
147.50 M
Monthly Burn
5.67 M
Runway
23.2 mo
Burn Trend
SEC Filing
May 5, 2026
Overview
Volume
701.13 K
52 Week Range
3.97 - 18.67
% held by Insiders
0.78 %
% held by Institutions
106.32 %
Enterprise Value
1.80 B
Total Shares
94.61 M
Short %
10.85 %
Float Shares
94.51 M
Company Description
locked
Upcoming Catalyst
Past FDA Catalysts & PDUFA Decisions
| Date | Drug | Catalyst | Stage | Outcome | Reaction | Event Move % | Best Trade % |
|---|---|---|---|---|---|---|---|
— | Example Drug | Phase 3 data readout | Phase 3 | — | – | 0% | 0% |
— | Example Drug | Phase 3 data readout | Phase 3 | — | – | 0% | 0% |
— | Example Drug | Phase 3 data readout | Phase 3 | — | – | 0% | 0% |
Drug Pipeline Intelligence
Clinical Trial Results
| Drug Name | Indications | Phase | Date | Trial Results Summary | Title | Source |
|---|---|---|---|---|---|---|
Example Drug | Example indication for clinical evaluation | Phase 3 | 2025-12-01 | The study met its primary endpoint demonstrating statistically significant improvement. Read More | Phase 3 Study Results Announcement | |
Example Drug | Example indication for clinical evaluation | Phase 3 | 2025-12-01 | The study met its primary endpoint demonstrating statistically significant improvement. Read More | Phase 3 Study Results Announcement | |
Example Drug | Example indication for clinical evaluation | Phase 3 | 2025-12-01 | The study met its primary endpoint demonstrating statistically significant improvement. Read More | Phase 3 Study Results Announcement |
Inside Trades
YEARLY INSIDER TRANSACTIONS
Sector Avg.
INSIDERS
SOLDINSIDERS
BOUGHT
SOLDINSIDERS
BOUGHT
POSITIVE SENTIMENT Based on 22 Insiders Transactions
Hedge Funds
Shares Held
HEDGE FUNDS
SOLDHEDGE FUNDS
BOUGHT
SOLDHEDGE FUNDS
BOUGHT
POSITIVE SENTIMENT Based on 27 hedge funds in the last quarter
18 buying (3 new)·9 selling (1 exited)·2 unchanged
Hedge Funds invested in FTRE
| HedgeFund Name ( 3 ) | % of Portfolio | Current MV - | Shares Owned - | Activity Avg Price $0 |
|---|---|---|---|---|
Example Capital Management | 2.5 % | 15.00 M | 250.00 K | |
Example Capital Management | 2.5 % | 15.00 M | 250.00 K | |
Example Capital Management | 2.5 % | 15.00 M | 250.00 K |
FTRE Institutional Ownership Trends
Current Insider %
5.20%
—+0.00%
Current Institutional %
62.40%
—+0.00%
Total Ownership
67.60%
Insider + Institutional
Data Points
1
1 Ticker(s)
Option Chain Statistics
| Expiration | Volume | Open Interest | Implied Volatility Calls | Implied Volatility Puts | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Calls | Puts | Put-Call Ratio | Calls | Puts | Put-Call Ratio | IV | OiWaIv | VWaIv | IV | OiWaIv | VWaIv | |
| 2026-08-21 | 0 | 0.00 | 0 | 0 | - | - | - | - | - | - | ||
| 2026-08-21 | 0 | 0.00 | 0 | 0 | - | - | - | - | - | - | ||
| 2026-08-21 | 0 | 0.00 | 0 | 0 | - | - | - | - | - | - | ||
Option Chain
| Calls | Strike | Puts | ||||
|---|---|---|---|---|---|---|
| Last Price | Volume | Open Interest | Last Price | Volume | Open Interest | |
| No data available | ||||||
Open interest
Today's Open Interest
1.00 M
Put-Call Ratio
1.1
Put Open Interest
480.00 K
Call Open Interest
520.00 K
Open Interest Avg (30-day)
900,000
Today vs Open Interest Avg (30-day)
11.11%
Option Volume
Today's Volume
750.00 K
Put-Call Ratio
0.95
Put Volume
360.00 K
Call Volume
390.00 K
Volume Avg (30-day)
800,000
Today vs Volume Avg (30-day)
-6.25%
Company News
-FTRE
Jul 29, 2026▲ +0.4%today
Fortrea Reports Second Quarter 2026 Results
Fortrea reported its second quarter 2026 financial results, showcasing revenues of $678.2 million and an adjusted net income of $22.7 million. The company has raised its full-year guidance, reflecting confidence in its operational strategy. Despite a GAAP net loss, Fortrea achieved a book-to-bill ratio of 1.06x, marking its fourth consecutive quarter above this threshold.
Read more →-FTRE
Jul 13, 2026Fortrea Announces Date for Second Quarter 2026 Financial Results and Conference Call
Fortrea has announced the release date for its second quarter 2026 financial results, which will occur before the market opens on July 29, 2026. A conference call will follow at 8:00 a.m. ET to discuss these results. Participants can pre-register for the call and access a live webcast on the company's investor website.
Read more →-FTRE
Jun 26, 2026Fortrea Names Jason Knoblauch as Chief Financial Officer
Fortrea has appointed Jason Knoblauch as its new Chief Financial Officer, effective July 6, 2026. He succeeds Jill McConnell, who played a pivotal role in the company's growth as a leading global contract research organization. Knoblauch's previous experience includes CFO roles at Clario and Curia, and he is expected to contribute significantly to Fortrea's strategic objectives.
Read more →-FTRE
Jun 10, 2026Fortrea Announces Grant of Inducement Awards Under Nasdaq Listing Rule 5635(c)(4)
Fortrea has announced the granting of 240,500 restricted stock units (RSUs) to 10 new employees as an inducement under Nasdaq Listing Rule 5635(c)(4). The RSUs will vest in three equal annual installments starting June 10, 2027, contingent on the employees' continuous employment. This initiative aims to attract new talent to the company.
Read more →-FTRE
Jun 2, 2026Fortrea to Attend Jefferies Global Healthcare Conference
Fortrea, a global contract research organization, announced its participation in the Jefferies Global Healthcare Conference on June 4, 2026. CEO Anshul Thakral, CFO Jill McConnell, and SVP of Investor Relations Tracy Krumme will represent the company. The event will feature a fireside chat format, allowing for investor interaction and engagement.
Read more →-FTRE
May 5, 2026▲ +18.6%on this news
Fortrea Reports First Quarter 2026 Results Strong first-quarter performance reinforces confidence in FY 2026 guidance Book-to-bill of 1.15x is third consecutive quarter above 1.1x Highlights For the three months ended
Fortrea reported its financial results for the first quarter of 2026, revealing a revenue of $636.5 million, a decrease from $651.3 million in the same quarter of 2025. Despite a net loss of $23.6 million, the company confirmed its full-year guidance and maintained a book-to-bill ratio of 1.15x for the quarter. The adjusted net income showed significant improvement, and the company expressed confidence in its strategic growth plans and operational effectiveness.
Read more →-FTRE
Apr 21, 2026Fortrea Announces Date for First Quarter 2026 Financial Results and Conference Call
Fortrea has announced the release date for its first quarter 2026 financial results, scheduled for May 5, 2026. The company will host a conference call at 8:00 a.m. ET to discuss these results. Participants are encouraged to pre-register for the call to receive dial-in details. A live webcast will also be available for access.
Read more →-FTRE
Feb 26, 2026Fortrea Reports Fourth Quarter and Full-Year 2025 Results; Issues Full-Year 2026 Guidance
Fortrea reported its financial results for Q4 and full year 2025, showing a revenue of $660.5 million for Q4 and $2,723.4 million for the full year. The company experienced a significant GAAP net loss due to a goodwill impairment charge. Despite challenges, Fortrea's adjusted net income improved, and it provided optimistic guidance for 2026, targeting revenues between $2,550 million and $2,650 million.
Read more →-FTRE
Feb 17, 2026Fortrea Expands Executive Team, Appointing Oren Cohen as Chief Medical Officer and Scott Dove as President of Clinical Pharmacology Services
Fortrea has expanded its executive team by appointing Oren Cohen as Chief Medical Officer and Scott Dove as President of Clinical Pharmacology Services. Cohen will focus on medical strategy and client relationships, while Dove brings over 25 years of drug development experience to enhance early clinical development solutions. This leadership change aims to strengthen Fortrea's offerings in clinical research.
Read more →-FTRE
Jan 29, 2026Fortrea Announces Date for Fourth Quarter and Full Year 2025 Financial Results and Conference Call
Fortrea has announced the release date for its fourth quarter and full year 2025 financial results, scheduled for February 26, 2026. The company will host a conference call at 8:00 am ET to discuss these results and answer questions. Participants are encouraged to register in advance to ensure smooth access to the call.
Read more →-FTRE
Jan 27, 2026Fortrea to Present at the Jefferies Global Healthcare Conference
Fortrea, a prominent global contract research organization, will present at the Jefferies Global Healthcare Conference on June 5, 2025. The presentation will be led by Chairman Peter M. Neupert and CFO Jill McConnell. Investors can access the live webcast on the company's Investor Relations website, with a replay available afterward.
Read more →-FTRE
Jan 27, 2026Fortrea Appoints William Sharbaugh to Board of Directors
Fortrea has appointed William Sharbaugh to its Board of Directors, bringing over three decades of experience in the pharmaceutical industry. Sharbaugh's background includes leadership roles in CRO and pharmaceutical operations, which Fortrea's CEO believes will enhance the company's ability to deliver high-quality drug development. He aims to provide valuable insights and create stakeholder value.
Read more →-FTRE
Jan 9, 2026Fortrea Announces Updated Presentation Time at Upcoming J.P. Morgan Healthcare Conference
Fortrea has announced an updated presentation time for the J.P. Morgan Annual Healthcare Conference, now set for 11:15 am PST on January 13, 2026. The company's CEO, CFO, and SVP of Investor Relations will participate, highlighting its commitment to investor engagement. A live webcast will be available for interested parties.
Read more →-FTRE
Dec 11, 2025Fortrea Announces Grant of Inducement Awards Under Nasdaq Listing Rule 5635(c)(4) - December 10, 2025
Fortrea has announced the granting of 245,000 restricted stock units (RSUs) to two new employees as part of their inducement awards under Nasdaq Listing Rule 5635(c)(4). These RSUs will vest in three equal annual installments starting December 10, 2026, contingent on the employees' continued employment. This move reflects Fortrea's strategy to attract talent and strengthen its workforce.
Read more →-FTRE
Nov 24, 2025▲ +9.6%on this news
Fortrea Completes $75.7 Million Senior Notes Tender Offer Utilizing Cash on Hand
Fortrea has successfully completed a $75.7 million tender offer for its senior secured notes, reducing the outstanding principal from $570 million to $494 million. The transaction was funded entirely with cash on hand, reflecting the company's strong balance sheet and disciplined financial management. This move is part of Fortrea's strategy to optimize its capital structure following a recent divestiture.
Read more →-FTRE
Nov 5, 2025▲ +23.2%on this news
Fortrea Reports Third Quarter 2025 Results For the three months ended
Fortrea reported its financial results for the third quarter of 2025, showing revenues of $701.3 million, an increase from the previous year's $674.9 million. Despite posting a GAAP net loss of $(15.9) million, the company saw improved adjusted EBITDA of $50.7 million. Additionally, Fortrea raised its revenue guidance for the full year 2025, although it highlighted that a significant year-to-date GAAP net loss was primarily driven by a non-cash goodwill impairment. Overall, the company is executing cost-saving initiatives while navigating its financial performance.
Read more →-FTRE
Sep 22, 2025About Fortrea Fortrea (Nasdaq FTRE) is a leading global provider of clinical development solutions to the life sciences industry. We partner with emerging and large biopharmaceutical, biotechnology, medical device and di
Fortrea (Nasdaq FTRE) announced the appointment of William Sharbaugh to its Board of Directors. With over three decades of experience in the pharmaceutical industry, Sharbaugh brings valuable expertise in finance, operations, and quality. CEO Anshul Thakral expressed confidence in Sharbaugh's ability to enhance the company's strategic direction and deliver high-quality drug development. Sharbaugh also emphasized his commitment to creating value for all stakeholders as Fortrea continues to focus on its future growth and partnerships.
Read more →-FTRE
Aug 6, 2025Fortrea Reports Second Quarter 2025 Results For the three months ended
Fortrea reported its financial results for the second quarter of 2025, revealing revenues of $710.3 million but showing a GAAP net loss of $(374.9) million due to a non-cash goodwill impairment charge. The company raised its 2025 revenue guidance to a range of $2,600 million to $2,700 million, reflecting increased confidence in future performance. Anshul Thakral recently joined as CEO, emphasizing operational excellence and customer value as key focuses moving forward. Despite strong revenue growth, potential issues with the backlog and net losses raise caution among investors.
Read more →-FTRE
Jun 12, 2025▲ +15.5%on this news
Fortrea Adopts Limited-Duration Stockholder Rights Plan Board Committed to Protecting Long-Term Value for All Stockholders DURHAM, N.C.
Fortrea's Board of Directors has approved a limited-duration stockholder rights plan to protect stockholder interests in light of stock price dislocation and potential takeover interests. Effective immediately, this plan aims to secure long-term value for all stockholders and ensure fair treatment during any acquisition attempts. The rights will allow stockholders to purchase additional shares at a discount if a significant ownership stake is acquired by any party. The Board maintains that the plan does not impede offers but establishes a framework for direct engagement with potential acquirers.
Read more →-FTRE
Jun 11, 2025Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as
Fortrea has appointed Anshul Thakral as the new Chief Executive Officer, effective August 4, 2025, succeeding interim CEO Peter M. Neupert. Thakral brings over 20 years of experience in life sciences and has a strong background in the contract research organization industry. He is expected to lead the company’s transformation plan and focus on profitable growth while enhancing value for customers and shareholders. The company believes that Thakral's leadership will help capitalize on significant growth opportunities in the coming years.
Read more →-FTRE
May 12, 2025▼ -15.6%on this news
Fortrea Reports First Quarter 2025 Results For the three months ended
Fortrea reported its financial results for the first quarter of 2025, showing revenues of $651.3 million and a significant GAAP net loss of $562.9 million, largely due to a goodwill impairment charge. However, the adjusted EBITDA improved to $30.3 million, an increase from the previous year. The company maintained a positive book-to-bill ratio of 1.02x and reiterated its revenue guidance for the full year. Leadership changes are also underway as the interim CEO will step in after the current CEO's departure.
Read more →-FTRE
May 12, 2025▼ -15.6%on this news
Fortrea Announces CEO Stepping Down Peter M. Neupert, Fortrea's Lead Independent Director, will serve as Interim CEO as Thomas Pike steps down DURHAM, N.C.
Fortrea has announced that CEO Thomas Pike will step down, with Peter M. Neupert appointed as Interim CEO. This transition is part of a planned succession process as Fortrea approaches its two-year anniversary as an independent company. Pike will support the leadership team during the transition under a consulting agreement. The company is proactively searching for a new CEO, reflecting a commitment to continued strategic leadership.
Read more →-FTRE
Mar 3, 2025▼ -25.1%on this news
Fortrea Reports Fourth Quarter and Full-Year 2024 Results Issues Full-Year 2025 Guidance For the three months and full-year ended
Fortrea (Nasdaq: FTRE) reported its financial results for Q4 and the full year ending December 31, 2024, showing a revenue of $697.0 million in Q4 and $2,696.4 million for the full year. The company experienced a net loss increasing to $(271.5) million for the year, along with a decline in adjusted EBITDA. Despite these setbacks, Fortrea reported a book-to-bill ratio of 1.35x and noted improvements in customer satisfaction metrics. Looking forward, Fortrea has issued guidance for 2025, targeting revenues between $2,450 million and $2,550 million.
Read more →-FTRE
Feb 21, 2025Fortrea to Add Erin L. Russell to Board of Directors Fortrea and Starboard enter into Cooperation Agreement DURHAM, N.C.
Fortrea has announced the appointment of Erin L. Russell to its Board of Directors in connection with a cooperation agreement with Starboard Value LP. The agreement aims to enhance governance and drive financial performance, with Russell bringing her substantial background in finance and healthcare to the board. Starboard, which holds a 5.4% stake in Fortrea, believes this collaboration will help maximize shareholder value. Russell's prior board roles and expertise are expected to assist Fortrea in achieving its strategic goals.
Read more →-FTRE
Nov 8, 2024▲ +30.2%on this news
Fortrea Reports Third Quarter 2024 Results For the three months ended
Fortrea (Nasdaq: FTRE) reported its financial results for the third quarter ended September 30, 2024, revealing revenues of $674.9 million. The company experienced a GAAP net loss of $(18.5) million, up from a loss of $(16.1) million in the same quarter last year. However, adjusted EBITDA showed a positive trend with a sequential increase of 16.3%. The company's backlog grew to $7,571 million, indicating strong future business potential amidst the challenges faced in year-to-date performance.
Read more →-FTRE
Aug 12, 2024▼ -20.3%on this news
Fortrea Reports Second Quarter 2024 Results For the three months ended
Fortrea (Nasdaq: FTRE) released its financial results for Q2 2024, reporting revenues of $662.4 million and a GAAP net loss of $(99.3) million. The company noted an adjusted EBITDA increase of 103.7% from the previous quarter. Additionally, Fortrea achieved a debt reduction of $504 million through divestitures, but reduced its full-year revenue guidance due to anticipated lower earnings from service fees. CEO Tom Pike emphasized operational improvements and strategic focus amidst these results.
Read more →-FTRE
Jul 11, 2024▲ +5.4%on this news· ran to +19% by day 3
Fortrea Appoints Robert Parks as Chief Accounting Officer DURHAM, N.C.
Fortrea has appointed Robert Parks as Chief Accounting Officer (CAO), effective August. Parks, who has extensive experience in contract research organizations and public accounting, will oversee Fortrea's accounting function, financial reporting, and compliance. He succeeds Amanda Warren, who will transition to an advisory role during the fall. CFO Jill McConnell expressed optimism about Parks's strategic thinking and ability to contribute to the company's growth.
Read more →-FTRE
Jun 4, 2024Fortrea Completes Divestiture of Endpoint Clinical and Patient Access Businesses to Arsenal Capital Partners DURHAM, N.C.
Fortrea has completed the divestiture of its Endpoint Clinical and Patient Access businesses to Arsenal Capital Partners. This strategic move allows Fortrea to concentrate on its core contract research organization services while reducing debt through the proceeds from the sale. Arsenal has appointed Sam Osman as the CEO of the newly acquired entities and aims to drive growth and innovation in patient access and trial management solutions. The divested businesses have significant expertise and a proven track record in supporting complex clinical trials.
Read more →-FTRE
May 16, 2024Fortrea Appoints Machelle Sanders to Board of Directors DURHAM, N.C.
Fortrea has announced the appointment of Machelle Sanders to its Board of Directors. With over 30 years in operational and quality assurance roles within the pharmaceutical and biotechnology sectors, Sanders aims to provide insightful perspectives as the company seeks to enhance its differentiation strategy. Her previous roles include serving as North Carolina's Secretary of Commerce since 2021 and leadership positions at Biogen and Purdue Pharmaceuticals. The company anticipates that her expertise will contribute significantly to its mission of delivering life-changing treatments to patients faster.
Read more →-FTRE
May 13, 2024▼ -14.9%on this newsshared move
Fortrea Reports First Quarter 2024 Results For the three months ended
Fortrea has reported its financial results for the first quarter of 2024, showing revenues of $662.1 million, a decrease from $693.9 million in the same quarter last year. Despite this, the company recorded a book-to-bill ratio of 1.11x, indicating good demand for its services. However, the company also faced a GAAP net loss of $81.6 million, a significant drop from a profit reported in Q1 2023. The planned divestiture of its Endpoint Clinical and Patient Access businesses remains on track as part of its overall strategy to refocus operations.
Read more →-FTRE
Mar 11, 2024Fortrea Reports Fourth Quarter and Full-Year 2023 Results Issues Full-Year 2024 Guidance For the three months ended
Fortrea (Nasdaq: FTRE) reported its Q4 and full-year 2023 financial results, highlighting revenues of $775.4 million for the fourth quarter and $3,109.0 million for the full year. Despite revenue growth, the company recorded a net loss of $(36.0) million in Q4, marking a substantial decline compared to the previous year. Fortrea's 2024 guidance projects revenues between $3,140 million and $3,205 million, aiming for adjusted EBITDA of $280 million to $320 million, as the company navigates through a significant divestiture of its Patient Access and Endpoint businesses with Arsenal Capital Partners.
Read more →-FTRE
Jan 8, 2024Fortrea Previews J.P. Morgan Healthcare Conference Updates Fortrea (Nasdaq FTRE), a leading global contract research organization ("CRO"), today previewed key updates that Tom Pike, chairman and chief executive officer,
Fortrea (Nasdaq: FTRE) previewed key updates ahead of the J.P. Morgan Healthcare Conference. The organization is successfully transitioning from its previous parent company, with a strong book-to-bill ratio of over 1.2x in Q4 2023. Fortrea has engaged an industry expert for a review of its conduct in two clinical trials, which could bolster client confidence. Despite some recent business impacts related to these trials, the company aims to reassure customers through its commitment to quality and safety.
Read more →-FTRE
Nov 13, 2023▲ +9.6%on this news
Fortrea Reports Third Quarter 2023 Results For the three months ended
Fortrea reported its financial results for the third quarter of 2023, revealing revenues of $776.4 million but a GAAP net loss of $13.1 million. The company's adjusted EBITDA fell significantly from $105.2 million in the previous year to $70.5 million. Although the book-to-bill ratio improved and the company maintained a positive cash flow, there are concerns about the company's transition as an independent entity and the impact of this change on future performance. For 2023, Fortrea forecasts revenues between $3,075 million and $3,130 million.
Read more →-FTRE
Aug 24, 2023UPDATED - AUGUST 24, 2023 Fortrea Reports Second-Quarter 2023 Results and Provides Full-Year 2023 Guidance For the three months ended
Fortrea, now an independent contract research organization, reported second-quarter 2023 revenues of $793 million, showing flat growth compared to the previous year. The company's GAAP net income decreased to $28.3 million from $66.4 million in the same quarter last year, and adjusted EBITDA also saw a decline. Despite these challenges, Fortrea is optimistic about future growth, providing guidance for full-year revenue between $3,034 million and $3,096 million. The company aims to leverage customer relationships to drive revenue and margin improvements.
Read more →-FTRE
Aug 14, 2023▼ -12.2%on this news
Fortrea Reports Second-Quarter 2023 Results Company and Provides Full-Year 2023 Guidance For the three months ended
Fortrea (Nasdaq: FTRE) reported its financial results for the second quarter of 2023, with revenues of $793 million, remaining flat compared to the previous year. The company, which recently completed its spin-off from Labcorp, is now focusing on growth in clinical services, projecting full-year revenue of approximately $3.03 billion to $3.1 billion. Despite the successful transition, the company faced a decline in net income and adjusted EBITDA compared to the same quarter in 2022, raising concerns about operational effectiveness and financial stability in the coming year.
Read more →-FTRE
Jun 15, 2023South Main Street Burlington, North Carolina 27215 United States Adam Schechter Chairman, President and Chief Executive Officer
Labcorp's board has approved the spinoff of its Clinical Development and Commercialization Services business into a new company, Fortrea Holdings Inc. Labcorp stockholders will receive shares of Fortrea on June 30, 2023, with a one-to-one distribution ratio. Fortrea aims to provide comprehensive services across clinical trial phases and enhance capabilities for its clients in the biopharmaceutical sector. No action is required from stockholders to receive these shares, and the spinoff is designed to be tax-free for U.S. federal income tax purposes.
Read more →-FTRE
Jun 12, 2023Document FOR IMMEDIATE RELEASE Labcorp Contacts Media Rachael Valdez - 336-436-8263 Media Labcorp.com Investors Chas Cook - 336-436-5076 Investor Labcorp.com Labcorp Announces Pricing of Fortrea $570 Million Notes Offeri
Labcorp has announced the pricing of a $570 million senior secured notes offering by its subsidiary Fortrea, in relation to an anticipated spinoff. The notes will carry an annual interest rate of 7.500% and are set to mature in 2030. Proceeds from this offering are intended for a substantial cash distribution to Labcorp and cover associated expenses. However, the transaction is conditional on specific factors being fulfilled by September 30, 2023, raising some risks regarding the spinoff's success.
Read more →Competitive Position
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