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Bioanalytical Systems, Inc. has officially changed its name to Inotiv, Inc., a decision approved by shareholders on March 18, 2021. This change will take effect on March 22, 2021, with the new ticker symbol NOTV. The name shift aligns with the company's strategy to unify its contract research services, following acquisitions of several firms. CEO Robert Leasure, Jr. emphasized the importance of this change in enhancing brand visibility and communication. Shareholders' rights remain unaffected, and no action is needed on their part regarding name or ticker adjustments.
Bioanalytical Systems, Inc. (NASDAQ:BASI), known as Inotiv, announced on March 17, 2021, plans to enhance its service offerings by adding cardiovascular safety pharmacology capabilities. This expansion aims to provide integrated pharmacology packages for cardiovascular, respiratory, and central nervous system evaluations. Inotiv intends to reduce reliance on subcontractors, which is expected to improve service speed, quality, and margins. This initiative supports the company's growth strategy and enhances its service suite.
Bioanalytical Systems, Inc. (NASDAQ:BASI), operating as Inotiv, is enhancing its West Lafayette vivarium to meet client demand and growth expectations. The facility has been accredited by AAALAC International for its excellent support and infrastructure. CEO Robert Leasure, Jr. emphasized the importance of these investments in delivering quality and efficiency to clients. The West Lafayette site features advanced in vivo capabilities and state-of-the-art equipment, including the Culex Automated Pharmacology and Empis systems, to support drug candidate characterization.
Bioanalytical Systems, Inc. (NASDAQ:BASI), operating as Inotiv, will participate in the H.C. Wainwright Global Life Sciences Virtual Conference on March 9-10, 2021. Key executives, including CEO Robert Leasure, Jr. and CFO Beth Taylor, will be available for one-on-one meetings. A webcast of the presentation will start on March 9, 2021, at 7:00 a.m. ET, accessible through the Company’s Investor section of its website. Inotiv specializes in providing contract research services to pharmaceutical companies, focused on enhancing efficiency and reducing drug development costs.
Bioanalytical Systems, Inc. (NASDAQ:BASI), now known as Inotiv, has announced significant investments in laboratory infrastructure and data management technologies to align with its growth strategy. The company has appointed Todd Francisco as Director of Laboratory Information Systems and partnered with Centric Consulting to enhance study management processes. These initiatives aim to streamline operations, reduce outsourcing, and improve client deliverables. The company emphasizes that having a unified data platform is essential for future growth and enhancing client experience.
Bioanalytical Systems, Inc. (NASDAQ:BASI), operating as Inotiv, announced the appointment of Greg Beattie as Chief Operating Officer, effective February 15, 2021. Beattie, with over 30 years of experience, previously held significant roles at Charles River Laboratories and was instrumental in growing their operations across several divisions. His expertise includes strategic planning and process improvement. The CEO expressed optimism about Beattie's ability to enhance the company's leadership and drive stakeholder value, highlighting Inotiv's strong service orientation and growth potential.
Bioanalytical Systems, Inc. (BASI) reported impressive financial results for Q1 FY 2021 with a 38.5% revenue growth to $17.9 million, up from $12.9 million in Q1 FY 2020. Gross profit surged by 69.0% to $5.9 million, boosting gross margins to 32.86%. The net loss improved to $366,000 or $(0.03) per diluted share. Adjusted EBITDA rose by 169.4% to $1.3 million. The company also experienced a strong backlog of $45.3 million, reflecting its growth prospects.
Bioanalytical Systems, Inc. (NASDAQ:BASI), known as Inotiv, will release its fiscal 2021 Q1 financial results on February 9, 2021, post-market. A conference call will follow at 4:30 p.m. ET. The webcast will be available on the company’s website. Inotiv provides essential nonclinical and analytical contract research services aimed at enhancing pharmaceutical development efficiency and data quality. This press release outlines key participation details for stakeholders interested in the upcoming financial discussion.
Bioanalytical Systems, Inc. (NASDAQ:BASI), operating as Inotiv, announced the hiring of Adam Aulbach, DVM, DACVP, as Director of Clinical Pathology effective January 18, 2021. This move aims to enhance their pathology service offerings. Dr. Stewart Jacobson emphasized the value added by veterinary clinical pathology expertise, which complements existing anatomic pathology services. The company is committed to expanding service capacity and talent to meet client needs, according to President and CEO Robert Leasure, Jr.
Bioanalytical Systems, Inc. (NASDAQ:BASI), now operating as Inotiv, announced the appointment of Dr. Daniel Smeak as Vice President of Surgical Models, effective December 30, 2020. Dr. Smeak brings over 40 years of veterinary surgical expertise, enhancing the company's credibility in surgical device services. Inotiv has invested nearly $1 million in upgrades to its Fort Collins, CO facility to improve energy efficiency and capacity. This strategic move aims to solidify Inotiv's position as a premier contract research organization in both the U.S. and internationally.
