Shares of ICON Public Limited Company (ICLR) tanked on Thursday morning after the contract research firm disclosed an internal investigation into its accounting practices and withdrew full-year guidance.
The stock is currently trading at $75.15, down $57.99 or 43.53%, on the Nasdaq. The stock opened at $79.49 after closing Wednesday's trading at $133.14. The stock has traded between $66.58 and $211.00 in the past 52-week period.
ICON said its audit committee initiated an investigation in October 2025 into certain accounting practices and internal controls, primarily focusing on revenue recognition from fiscal 2023 through 2025. The company expects to report one or more material weaknesses in internal controls.
Preliminary findings indicate revenue for 2023 and 2024 may have been overstated by less than 2% for each year. Due to the ongoing probe and reporting delays, ICON has withdrawn its previously issued 2025 financial guidance, weighing heavily on investor sentiment.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.