ICON falls after CEO transition

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04/09/2025 15:55

Updates

** Shares of contract research firm ICON ICLR.O fall 3.4% to $173.95

** CEO Dr. Steve Cutler is retiring; COO Barry Balfe to replace him on October 1 and join the board, company says

** Dr. Cutler will continue to serve on the board as a non-executive director

** In August, a next-generation COVID-19 vaccine study, ICON was running, had been paused by U.S. funding agency BARDA after it issued a stop-work notice to the study sponsor

** "We think ICLR has been navigating an unprecedented level of uncertainty as best as possible and should be well-positioned as market conditions improve" Leerink Partners analysts said

** Including session's move, ICON stock down 17.3% YTD

 (Reporting by Padmanabhan Ananthan)

 ((Padmanabhan.Ananthan@thomsonreuters.com))