Labcorp spinoff Fortrea rises in its first day of trading on the Nasdaq

Labcorp
LH,
+0.77%
said Monday it completed the spinoff of Fortrea as an independent contract research organization, or CRO, that specializes in Phase I to IV clinical-trial management, patient access, and technology solutions to pharmaceutical and biotechnology organizations around the world. Fortrea has begun trading Monday on the Nasdaq under the ticker symbol “
FTRE,
+8.32%.
” Fortrea’s stock is up 4.7% from its previous close as a when-issued stock. Labcorp’s stock is currently up about 0.7%.