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Syneos Health (SYNH) Expands Catalyst Site Program to China
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Syneos Health recently signed an agreement with Union Hospital, Tongji Medical College and the Huazhong University of Science and Technology (Wuhan Union Hospital). This expands the company’s clinical trial capabilities across a broad range of therapeutic areas in China.
Via the agreement, Wuhan Union Hospital is now part of Syneos Health’s Catalyst Site Program. The program was introduced in 2016 to strengthen collaborations with clinical research sites worldwide.
More About the Clinical Site Program
The Syneos Health Catalyst Site Program is aimed at streamlining every aspect of the clinical development process and supporting the development of new methodologies to deliver faster therapies to patients. It harnesses insights from clinical research sites worldwide to drive continuous improvement and develop the best practices in clinical research delivery.
Image Source: Zacks Investment Research
The company has been acknowledged by the Society for Clinical Research Sites as a recipient of the Eagle Award for demonstrating dedication to establishing strong site partnerships. The Catalyst Site Network includes more than 100 high-performing sites worldwide, including individual practices, academic centers of excellence and site networks.
News in Detail
Syneos Health’s venture with Wuhan Union Hospital is part of Syneos Health’s global strategy to accelerate its clinical development impact on China’s rapidly growing and changing market. The cooperation aims to expedite study timelines and enable sites, sponsors and patients to be more engaged throughout the entire clinical trial process.
Recognizing Wuhan Union Hospital as a first-class site, management notes that the strategic collaboration will foster a stronger development of its clinical business in Central China and enhance the benefits of serving patients in this region.
Industry Prospects
Per a Research report, the global eClinical solution market was valued at $7.89 billion in 2022 and is expected to witness a CAGR of 13.9% by 2030.
Recent Highlights
The company recently expanded the Catalyst Site Program in New Zealand via an agreement with Aotearoa Clinical Trials and Optimal Clinical Trials Ltd. SYNH’s collaboration with the University Malaya Medical Centre in Malaysia leverages its deep site relationships to help customers navigate the region’s highly regulated and complex operating environment to deliver consistent quality, predictable results and streamlined processes in the clinical trial.
In June 2023, SYNH announced a collaboration with uMotif, aiming to bring new therapies to patients faster through a more efficient, end-to-end digital platform that includes robust Electronic Clinical Outcome Assessment (eCOA) and Electronic Patient-reported Outcomes (ePRO) capabilities.
Price Performance
In the past six months, Syneos Health shares have increased 5.6% against the industry’s fall of 18.8%.
Zacks Rank and Key Picks
Syneos Health currently carries a Zacks Rank #3 (Hold).
Haemonetics’stock has risen 19.9% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 in 2023 and $3.96 to $4.07 in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%.
Estimates for Quanterix’s 2023 loss per share have narrowed from $1.19 to 97 cents in the past 30 days. Shares of the company have increased 167.5% in the past year against the industry’s decline of 1.7%.
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for SiBone’s2023 loss have narrowed from $1.42 to $1.27 per share in the past 30 days. Shares of the company have increased 31% in the past year compared with the industry’s rise of 1.9%.
SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 20.37%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%.
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Syneos Health (SYNH) Expands Catalyst Site Program to China
Syneos Health recently signed an agreement with Union Hospital, Tongji Medical College and the Huazhong University of Science and Technology (Wuhan Union Hospital). This expands the company’s clinical trial capabilities across a broad range of therapeutic areas in China.
Via the agreement, Wuhan Union Hospital is now part of Syneos Health’s Catalyst Site Program. The program was introduced in 2016 to strengthen collaborations with clinical research sites worldwide.
More About the Clinical Site Program
The Syneos Health Catalyst Site Program is aimed at streamlining every aspect of the clinical development process and supporting the development of new methodologies to deliver faster therapies to patients. It harnesses insights from clinical research sites worldwide to drive continuous improvement and develop the best practices in clinical research delivery.
Image Source: Zacks Investment Research
The company has been acknowledged by the Society for Clinical Research Sites as a recipient of the Eagle Award for demonstrating dedication to establishing strong site partnerships. The Catalyst Site Network includes more than 100 high-performing sites worldwide, including individual practices, academic centers of excellence and site networks.
News in Detail
Syneos Health’s venture with Wuhan Union Hospital is part of Syneos Health’s global strategy to accelerate its clinical development impact on China’s rapidly growing and changing market. The cooperation aims to expedite study timelines and enable sites, sponsors and patients to be more engaged throughout the entire clinical trial process.
Recognizing Wuhan Union Hospital as a first-class site, management notes that the strategic collaboration will foster a stronger development of its clinical business in Central China and enhance the benefits of serving patients in this region.
Industry Prospects
Per a Research report, the global eClinical solution market was valued at $7.89 billion in 2022 and is expected to witness a CAGR of 13.9% by 2030.
Recent Highlights
The company recently expanded the Catalyst Site Program in New Zealand via an agreement with Aotearoa Clinical Trials and Optimal Clinical Trials Ltd. SYNH’s collaboration with the University Malaya Medical Centre in Malaysia leverages its deep site relationships to help customers navigate the region’s highly regulated and complex operating environment to deliver consistent quality, predictable results and streamlined processes in the clinical trial.
In June 2023, SYNH announced a collaboration with uMotif, aiming to bring new therapies to patients faster through a more efficient, end-to-end digital platform that includes robust Electronic Clinical Outcome Assessment (eCOA) and Electronic Patient-reported Outcomes (ePRO) capabilities.
Price Performance
In the past six months, Syneos Health shares have increased 5.6% against the industry’s fall of 18.8%.
Zacks Rank and Key Picks
Syneos Health currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Haemonetics (HAE - Free Report) , Quanterix (QTRX - Free Report) and SiBone (SIBN - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Haemonetics’stock has risen 19.9% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 in 2023 and $3.96 to $4.07 in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%.
Estimates for Quanterix’s 2023 loss per share have narrowed from $1.19 to 97 cents in the past 30 days. Shares of the company have increased 167.5% in the past year against the industry’s decline of 1.7%.
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for SiBone’s2023 loss have narrowed from $1.42 to $1.27 per share in the past 30 days. Shares of the company have increased 31% in the past year compared with the industry’s rise of 1.9%.
SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 20.37%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%.