By Nicholas G. Miller
Shares of Medpace soared after the company's second-quarter earnings and revenue surpassed expectations.
The stock was up 53% to $472.63 in Tuesday's session and is now up 42% on the year.
The Cincinnati clinical-research company late Monday reported $3.10 in earnings per share and $603.3 million in revenue, beating analysts' expectations of a $2.98 per-share profit and $538.8 million in sales.
In its earnings call Tuesday, the company said it benefited from decreased cancellations as well as from a shifting away from oncology research and toward clinical trials in areas such as metabolic studies, which it said results in faster revenue and more reimbursable costs.
Chief Executive August Troendle also said that even amid concerns about a broad decline in funding for biotech research, its clients with ongoing studies "were able to obtain sufficient funding to keep the trials running."
Write to Nicholas G. Miller at nicholas.miller@wsj.com.
(END) Dow Jones Newswires
July 22, 2025 12:57 ET (16:57 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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