Charles River Laboratories International, Inc. - CRL STOCK NEWS

Charles River Laboratories (NYSE: CRL) reported Q3 2024 revenue of $1.01 billion, down 1.6% from $1.03 billion in Q3 2023, with a 2.7% organic decline. The company's GAAP operating margin decreased to 11.6% from 14.8%, while non-GAAP operating margin fell to 19.9% from 20.5%. GAAP earnings per share dropped 21.3% to $1.33, and non-GAAP EPS decreased 4.8% to $2.59. The decline was primarily driven by lower revenue and higher restructuring costs, despite improvements in all three business segments' operating margins.

Charles River Laboratories International, Inc. (NYSE: CRL) has launched the Retrogenix® Non-Human Protein Library, a first-in-class in vitro library designed to assess off-target binding and de-risk in vivo studies. This innovative tool helps biopharmaceutical clients evaluate how therapeutics interact with non-human protein targets, providing early insights without the lead time and expense of ex vivo or in vivo studies.

The library builds on the established Retrogenix® platform, which offers the industry's largest library of human proteins for screening. By confirming whether potential off-targets are conserved across species, the new non-human library enhances the interpretability of in vivo results and aids in selecting appropriate models for safety studies. This approach aligns with the 3Rs principles (Reduction, Refinement, Replacement) in animal research and supports Charles River's Alternative Methods Advancement Project (AMAP).

Charles River Laboratories International, Inc. (NYSE: CRL) has announced the schedule for its third-quarter 2024 earnings release and conference call. The company will release its financial results on Wednesday, November 6th, before the market opens. A conference call to discuss the results has been scheduled for the same day at 9:30 a.m. ET.

Investors can access a live webcast of the conference call through the Investor Relations section of the Company's website at ir.criver.com. For those unable to attend the live event, a replay of the webcast will be made available on the same website.

Charles River Laboratories International, Inc. (NYSE: CRL) announced its participation in Neuroscience 2024, the annual Society for Neuroscience meeting from October 5-9 in Chicago. The company's neuroscience experts will present 18 scientific posters, showcasing their commitment to advancing neuroscience research. Key presentations include studies on in vitro co-culture models for myelination and neuroinflammation using iPSC-derived cells.

Charles River's team will also discuss advancements in ALS research and their impact on drug discovery. The company's global team of nearly 200 neuroscientists has supported 80% of new neuroscience drugs approved by the FDA since 2018. Recent initiatives include collaborations with CEBINA, integration of Insightec's ultrasound platform, and the AI-powered Logica® drug discovery solution in partnership with Lundbeck.

Charles River Laboratories International, Inc. (NYSE: CRL) has announced an agreement with H. Lundbeck A/S to utilize Logica®, an AI-powered drug discovery solution, to advance research into neurological diseases. Logica® integrates Valo Health's AI-powered Opal Computational Platform™ with Charles River's expertise in drug discovery and preclinical development.

The collaboration aims to create optimized small molecules for novel therapies in neurological research. Lundbeck will deploy Logica® to work on unprecedented molecular targets with causal biology, potentially overcoming drug design challenges that often slow down the translation of promising targets into drug candidates.

This partnership combines Lundbeck's industry-leading neurology expertise with Charles River's agile approach, leveraging AI-augmented processes to progress critical brain disease research.

Charles River Laboratories (NYSE: CRL) and CEBINA GmbH have announced a strategic collaboration within the DanubeNeuro acceleration program. This initiative aims to identify and advance pioneering academic research projects in the field of neurodegeneration. The collaboration will leverage CEBINA's experience in acceleration programs and Charles River's expertise in drug discovery and development for central nervous system (CNS) disorders.

The partnership seeks to address the growing global challenge of age-related neurodegenerative disorders, such as Alzheimer's and Parkinson's diseases. DanubeNeuro will focus on creating innovative drugs, diagnostic methods, disease biomarkers, and imaging techniques. The program is supported by a dedicated fund, Danube BioVentures, and features a rolling application process.

Charles River Laboratories (NYSE: CRL) and Insightec have announced a five-year strategic collaboration to advance drug discovery and preclinical development in neuroscience using focused ultrasound (FUS) technology. The partnership aims to provide Charles River's clients access to a comprehensive global service and technology platform for FUS applications.

Insightec's low-frequency ultrasound platform non-invasively disrupts the blood-brain barrier, enabling targeted drug delivery to brain areas. This technology has shown positive clinical evidence in various neurological diseases, including Parkinson's, Alzheimer's, and oncology indications. The collaboration is designed to meet the increasing demand for advancing therapeutic development and delivery of genetic medicines, biologics, and immunotherapies in multiple Good Laboratory Practice (GLP) preclinical models in neuroscience.

Charles River Laboratories International (NYSE: CRL) has announced its participation in two upcoming investor conferences. The company will present at the Morgan Stanley 22nd Annual Global Healthcare Conference on September 5th at 9:15 a.m. EDT and the Baird 2024 Global Healthcare Conference on September 10th at 10:15 a.m. EDT.

During these presentations, management will provide an overview of Charles River's strategic focus, business developments, and recent trends. Investors and interested parties can access live webcasts of both presentations through the Investor Relations section of Charles River's website at ir.criver.com. Webcast replays will be available for at least two weeks after each presentation.

Charles River Laboratories (NYSE: CRL) reported its Q2 2024 results, showing a 3.2% decrease in revenue to $1.03 billion. The company's GAAP earnings per share fell 7.9% to $1.74, while non-GAAP earnings per share rose 4.1% to $2.80. The GAAP operating margin decreased to 14.8%, but the non-GAAP operating margin improved to 21.3%. The company's Board approved a new $1.0 billion stock repurchase authorization. Charles River revised its 2024 guidance due to ongoing market challenges. The Manufacturing Solutions segment showed organic revenue growth, while the Discovery and Safety Assessment and Research Models and Services segments experienced lower revenue.