Science 37 Holdings, Inc.
lifesciacquisition.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2023 10-Q, filed Nov 7, 2023. Its latest SEC filing is a 15-12G from Mar 25, 2024.
10-Q for Q3 FY2023, filed Nov 7, 2023
The sections below describe the company as of the FY2022 annual report.
What Did They Do?
Provides clinical-trial services and technology for pharmaceutical and biotech companies, contract research organizations, and academic institutions.
10-K for FY2022, filed Mar 6, 2023Science 37 derives its revenue primarily from two sources: (i) contractual arrangements to enable and enhance clinical trials through…View ↗
1.Full Decentralized Clinical Trial. In this offering, Science 37 is the sole provider delivering for a sponsor. Science 37 is performing…View ↗
2.Metasite. In this case, Science 37 acts as a virtual site to supplement a network of traditional sites. Science 37 leverages its…View ↗
3.Hybrid Clinical Trials. In this offering, Science 37 leverages its virtual site technology and services to digitize a portion of the…View ↗
4.Technology. Science 37 is not conducting the trial, nor is it a Metasite, but configures the technology to support patient engagement…View ↗
Science 37’s customers consist of large and mid-sized pharmaceutical companies, biotech customers, CROs as well as academic institutions.…View ↗
How Did They Make Money?
Customers pay for clinical-trial technology and services, with compensation tied to progress toward completing the work; Science 37 also licenses its hosted platform to life-science institutions.
10-K for FY2022, filed Mar 6, 2023
$70.1M
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10-K for FY2022, filed Mar 6, 2023
$70.1M ↗
Who Were Their Customers?
The company tailors its offerings to each customer's trial design, participant count, therapeutic area, and study complexity. Contract research organizations can also work with it as partners and sales channels.
10-K for FY2022, filed Mar 6, 2023
10-K for FY2022, filed Mar 6, 2023
For the years ended December 31, 2022 and 2021, one and three customers individually (totaling 15.2% and 57.0%, respectively) accounted for…View ↗
Did Revenues Turn Into Profits?
No. It lost $51M in FY2022.
10-K for FY2022, filed Mar 6, 2023
−$152MView ↗
10-K for FY2022, filed Mar 6, 2023
−$51MView ↗
10-K for FY2022, filed Mar 6, 2023
−$75.6MView ↗
How Were They Changing?
- Net income
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Sources
10-Q for Q3 FY2023, filed Nov 7, 2023
−$13.9MView ↗
- ▼ −41% (Loss)
- vs −$23.5M in Q3 FY2022
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Mar 12, 2024
eMed completed its acquisition of the company
The company became eMed's wholly owned subsidiary.
Sources
8-K, filed Mar 12, 2024
As previously disclosed in the Current Report on Form 8-K filed by Science 37 Holdings, Inc., a Delaware corporation (the “Company” or…View ↗
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Jan 29, 2024
Agreed to be acquired by eMed and gave 2024 revenue guidance
The company targeted revenue of approximately $50 to $60 million for 2024.
Sources
8-K, filed Jan 29, 2024
At December 31, 2023, total backlog was $132.2 million, of which approximately $40.1 million was expected to be converted to revenue in…View ↗
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