Netramark talks Q4 contract backlog

Executive Summary

• Netramark Holdings Inc. reported a significant quarter of execution, highlighting a contract backlog increase to approximately $2.5 million and the completion of onboarding with major channel partner Worldwide Clinical Trials.
• The company achieved a key regulatory milestone by completing a Critical Path Innovation Meeting (CPIM) with the FDA, receiving feedback on its NetraAI platform for use in clinical trial enrichment methodologies.
• Scientific validation was reinforced through the acceptance of a peer-reviewed study in npj Digital Medicine (Nature Portfolio) and the awarding of an Ontario Research Fund grant for a collaboration with the Centre for Addiction and Mental Health (CAMH).

Key Details

• Contract Backlog: Increased to approximately $2.5 million during the quarter, driven by new project commitments. This supports the company's guidance to reach $8 million to $10 million in contract backlog by mid-2026.
• Channel Partnership: Completed onboarding and quality assurance with Worldwide Clinical Trials following a master services agreement executed on April 3, 2025. Netramark is now eligible for phase 2 and phase 3 bids in central nervous system (CNS) and oncology indications.
• Regulatory Engagement: Completed an FDA Critical Path Innovation Meeting (CPIM) in December. The FDA provided non-binding feedback on NetraAI’s approach to prespecified, alpha-controlled predictive enrichment and suggested exploring the Model-Informed Drug Development (MIDD) paired meeting program.
• Scientific Publication: A study co-written with researchers from the U.S. National Institute of Mental Health (NIMH) was accepted for publication in npj Digital Medicine (Nature Portfolio) on December 8, 2025. The paper demonstrates NetraAI’s ability to identify clinically meaningful patient subgroups in a phase II depression trial.
• Research Collaboration: Awarded an Ontario Research Fund – Research Excellence (ORF-RE) Award for a collaboration with the Centre for Addiction and Mental Health (CAMH). NetraAI is being deployed in CAMH’s secure environment to analyze genetic and epigenetic data for schizophrenia and major depressive disorder.
• Outlook: The company reiterates its guidance of achieving $8 million to $10 million in booked contract backlog by mid-2026, citing growing commercial momentum and an active pipeline of late-stage opportunities.

Notable Quotes

• "This quarter reflects disciplined execution across key areas of our business. We are seeing growing commercial traction, constructive scientific engagement with the FDA regarding NetraAI's regulatory positioning, and increasing third party validation through peer-reviewed publication and academic recognition... Together, these milestones reinforce that our approach is both novel and increasingly aligned with the direction of modern clinical development." — George Achilleos, CEO