TMO
2nd
Thermo Fisher Scientific
$217,832.92 Mn
589.14
+0.61%
+20.84%
Through its Clinical Research business, the company provides integrated clinical development and analytical services covering Phases I through IV of clinical trials for pharmaceutical and biotechnology sponsors.
IQV
Iqvia Holdings
$39,508.94 Mn
240.03
-0.56%
+24.67%
IQVIA operates a 'Research & Development Solutions' segment that provides outsourced clinical research and clinical trial related services to biopharmaceutical customers. This matches the description of a Contract Research Organization (CRO) that runs clinical development for drug and device sponsors.
HYFT
MindWalk Holdings
$33,316.85 Mn
1.33
+0.00%
-50.74%
The company generates 100% of its revenue from contract research organization (CRO) services, providing end-to-end antibody discovery and development for biopharmaceutical companies and academic institutions. Specific services include custom antigen modeling, B cell sorting, phage display library screening, and antibody characterization.
LH
2nd
Labcorp Holdings
$26,065.98 Mn
322.20
-0.37%
+19.12%
The Biopharma Laboratory Services segment provides end-to-end drug development support, including early-phase research, safety assessment, and clinical trial enablement for pharmaceutical and biotechnology companies. These fee-for-service outsourcing contracts for drug sponsors are the hallmark of Contract Research.
GH
2nd
Guardant Health
$21,394.06 Mn
160.12
-0.96%
+169.24%
The company provides research-focused assays like GuardantINFINITY and GuardantOMNI to biopharmaceutical companies to support clinical trial matching and drug development.
LDOS
2nd
Leidos Holdings
$18,008.10 Mn
143.50
+0.88%
-19.44%
The company provides clinical trials management and research and development support to the National Institutes of Health and the Army Medical Research community.
MEDP
Medpace Holdings
$16,475.63 Mn
590.30
-1.14%
+27.52%
Medpace is a global contract research organization (CRO) that provides outsourced clinical development services, including study design, site management, patient recruitment, and regulatory submissions. It earns fee-for-service revenue from biotechnology, pharmaceutical, and medical device sponsors for Phase I through IV clinical trials.
CRL
Charles River Laboratories International
$13,328.52 Mn
279.26
-2.61%
+77.90%
The company is a leading provider of non-clinical drug development services, specifically offering outsourced drug discovery, target identification, lead optimization, and regulated safety assessment services like toxicology and pathology. These activities are performed for pharmaceutical and biotechnology sponsors as fee-for-service contracts.
ICLR
Icon
$12,888.61 Mn
167.05
-1.42%
-6.45%
ICON is explicitly described as a leading global contract research organization (CRO) that provides outsourced development services, including trial design, execution, and management of Phase I-IV clinical studies for pharmaceutical and biotechnology sponsors.
DVA
2nd
Davita
$11,373.12 Mn
177.83
+0.67%
+33.46%
The company operates a clinical research organization that earns revenue from study sponsorship fees by providing retrospective and prospective studies for drug and device development.
RDY
2nd
Dr Reddys Laboratories
$10,141.08 Mn
12.15
+0.25%
-14.62%
The PSAI segment offers contract research and development services to innovator companies, supporting them from early discovery through the drug development process.
TWST
2nd
Twist Bioscience
$7,276.45 Mn
116.10
-6.68%
+314.35%
The company's Biopharma Services segment provides antibody discovery and optimization services, including high-throughput screening and developability assays, under partnership agreements with pharmaceutical and biotechnology companies.
CAI
2nd
Caris Life Sciences
$5,925.76 Mn
20.97
-3.05%
-41.67%
Through its 'Caris Discovery' segment, the company enters into collaborative research and development arrangements with biopharma firms like Moderna and AbbVie to identify novel drug targets and develop therapeutics.
ADPT
2nd
Adaptive Biotechnologies
$3,906.50 Mn
24.56
-0.85%
+97.90%
The company provides immune receptor sequencing services and target discovery capabilities to biopharmaceutical partners to accelerate therapeutic research in oncology and autoimmune diseases.
ABCL
2nd
AbCellera Biologics
$3,407.94 Mn
11.12
-0.71%
+138.12%
The company provides antibody discovery and development services to pharmaceutical and biotechnology partners, acting as a contract research provider for identifying and optimizing antibodies against challenging targets.
EVOTF
Evotec SE
$2,378.68 Mn
6.69
+0.00%
-21.48%
Evotec provides integrated drug discovery and preclinical development services, including target identification, lead optimization, and IND enabling programs. The company generates the vast majority of its revenue (79% in 2025 and 94% in 2024) through fee-for-service and FTE-based contracts for pharmaceutical and biotechnology partners.
NEO
2nd
Neogenomics
$2,033.90 Mn
15.90
-1.61%
+154.81%
The company provides third-party clinical trials and research support services to pharmaceutical sponsors who require oncology-focused biomarker data.
FTRE
Fortrea Holdings
$1,673.76 Mn
17.60
-2.76%
+122.22%
Fortrea is a global contract research organization (CRO) that provides phase I through IV clinical trial management, patient recruitment, and biostatistics for pharmaceutical and medical device sponsors. Its revenue is derived from fee-for-service and full-service outsourcing contracts for clinical research services.
TOI
2nd
Starling Oncology
$622.91 Mn
6.20
+0.16%
+46.23%
The company manages clinical trial programs and bills pharmaceutical companies or contract research organizations for procedures performed on enrolled patients.
OABI
2nd
OmniAb
$569.93 Mn
3.92
+2.62%
+95.02%
The company generates service revenue by performing research services for partners, including specific programs focused on small molecule ion channels.
CLPT
2nd
ClearPoint Neuro
$463.04 Mn
15.18
-2.06%
+35.29%
The company provides preclinical development services, including protocol consultation, study design, and in vivo biology testing for pharmaceutical and biotechnology partners. These services are sold to over 60 partners to support the development of gene and cell therapies.
DNA
Ginkgo Bioworks Holdings
$415.40 Mn
6.52
-5.78%
-52.75%
Ginkgo Bioworks operates as a platform providing R&D services, cell engineering solutions, and high-throughput data generation for external sponsors. Its revenue model is based on service fees, milestone payments, and value-share arrangements for projects involving therapeutics, vaccines, and industrial chemicals for customers like Biogen and Novo Nordisk.
WDH
2nd
Waterdrop
$359.77 Mn
1.00
+0.00%
-43.82%
The company provides the E-Find patient recruitment service, charging pharmaceutical and biotechnology clients a fixed fee for matching and enrolling suitable participants in clinical trials.
IMRX
2nd
Immuneering
$325.43 Mn
5.03
-3.64%
+43.71%
The company generates current revenue by providing translational bioinformatics analyses and tumor modeling services for pharmaceutical and biotechnology partners such as Johnson & Johnson and Bristol Myers Squibb.
YDES
2nd
YD Bio
$281.74 Mn
3.98
+18.10%
-65.98%
YD Bio generates current revenue from fees received for supplying clinical trial materials and services to pharmaceutical partners, including service agreements with Novartis Taiwan and Alcon Services AG Taiwan Branch.
BDSX
2nd
Biodesix
$235.68 Mn
22.34
-3.91%
+162.82%
The company's Development Services segment provides end-to-end solutions including translational research, biomarker discovery, and testing of clinical trial samples for biopharmaceutical and life sciences clients. This activity constitutes a fee-for-service contract research model for drug and device sponsors.
AGPU
2nd
Axe Compute
$218.84 Mn
10.33
-2.73%
-19.28%
The company provides AI-driven drug response predictions and three-dimensional tumor model services to biopharma partners and contract research organizations to support oncology R&D.
XGN
2nd
Exagen
$159.43 Mn
6.59
-1.64%
-32.41%
The company generates revenue from agreements with pharmaceutical companies and contract research organizations (CROs) for the use of its testing products and the provision of de-identified data for research and development purposes.
KRMD
2nd
KORU Medical Systems
$153.68 Mn
3.33
-0.89%
-20.90%
The company generates revenue from a 'Pharma services and clinical trials' segment, providing feasibility and early-stage trial support to biopharmaceutical firms developing new subcutaneous therapies.
IMDX
2nd
Insight Molecular Diagnostics
$139.63 Mn
4.28
+0.23%
+60.30%
The company earns fees by providing laboratory services to life sciences and biotechnology companies specifically for assay development and clinical testing.
MXCT
2nd
Maxcyte
$134.79 Mn
1.27
-3.79%
-9.29%
Through its acquisition of SeQure Dx, the company provides gene-editing risk assessment services, including GUIDE-seq and ONE-seq assays, to help developers evaluate on-target and off-target editing outcomes for regulatory submissions.
BNR
2nd
Burning Rock Biotech
$87.87 Mn
10.00
+9.89%
-1.67%
The company generates revenue from collaborations with pharmaceutical companies, such as AstraZeneca and Bayer, specifically for clinical trial support and the development of companion diagnostics.
CSBR
Champions Oncology
$70.68 Mn
5.09
+1.19%
-26.97%
The company's largest revenue contributor is its research services business, which provides preclinical study contracts to pharmaceutical and biotechnology firms using its proprietary TumorBank of Patient Derived Xenograft models. These services include in vivo and ex vivo experiments to measure drug response and resistance, fitting the definition of a contract research organization.
XBIT
2nd
XBiotech
$69.21 Mn
2.27
-1.73%
-29.06%
XBiotech has earned revenue by providing clinical trial operations services for a pharmaceutical partner.
NTRB
2nd
NutriBand
$41.94 Mn
3.45
+6.81%
-45.75%
The subsidiary 4P Therapeutics provides contract research and development services, including preclinical efficacy and safety testing, Phase 1 clinical trial support, and regulatory consulting for pharmaceutical and medical device clients.
PBSV
2nd
Pharma-Bio Serv
$12.37 Mn
0.54
+0.00%
-10.00%
The company provides validation, regulatory compliance, and process support services to pharmaceutical and biotechnology companies, which are core activities of contract research and development outsourcing for drug and device sponsors.
TEM
2nd
Tempus AI
$8.88 Mn
49.36
-4.42%
-37.08%
Tempus generates revenue from contracts for clinical trial matching and other research services provided to pharmaceutical and biotechnology companies.
BFRG
2nd
BullFrog AI Holdings
$6.05 Mn
0.53
-5.36%
-59.85%
The company provides fee-for-service contract analysis and data analysis services to biopharmaceutical companies and academic institutions to help identify drug targets and streamline clinical trial design.
VIVS
VivoSim Labs
$1.47 Mn
0.28
-12.50%
-84.53%
VivoSim Labs operates as a service provider for pharmaceutical and biotech partners, offering liver and intestinal toxicology screening and mechanism-of-action studies. These activities match the description of a contract research organization (CRO) that runs preclinical development and safety testing for drug sponsors.
CPMV
2nd
Mosaic ImmunoEngineering
$0.43 Mn
0.06
+0.00%
-88.00%
The company generates limited revenue by providing advisory and related services to collaborators, such as the fees earned under its Master Services Agreement with Oncotelic Therapeutics, Inc.
NOTVQ
Inotiv
$0.35 Mn
0.01
+0.00%
-99.55%
Inotiv explicitly identifies as a contract research organization (CRO) providing nonclinical and analytical drug discovery and development services. Its Discovery and Safety Assessment (DSA) segment provides bioanalytical method development, in vivo pharmacology, and non-clinical toxicology services to pharmaceutical and medical device sponsors.
CBIH
Cannabis Bioscience International Holdings
$0.00 Mn
0.00
—
—
The company operates the Alpha Research Business, which provides clinical trial services including study design, patient recruitment, and data reporting for pharmaceutical and biotech clients such as Pfizer and Novartis.