Charles River Laboratories International, Inc. - CRL STOCK NEWS

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.

Charles River Laboratories International, Inc. (NYSE: CRL) has announced a collaboration with the FOXG1 Research Foundation (FRF) to advance gene therapy development for FOXG1 syndrome, a severe rare neurological genetic disorder. The partnership highlights FRF's innovative model for independently driving drug development through clinical phases.

Charles River will provide FRF with access to its cell and gene therapy expertise, generating materials for FRF's Phase I-II AAV vector-based gene therapy clinical trials. This includes supplying High Quality (HQ) plasmid starting materials and GMP AAV9 viral vectors from its centers of excellence.

The collaboration aims to streamline FRF's path to clinical trials, leveraging Charles River's integrated manufacturing and biologics testing portfolio. This partnership exemplifies a new approach to rare disease drug development, with patient advocacy groups taking control and driving the process when no treatment options exist.

Charles River Laboratories (NYSE: CRL) and Autobahn Labs have announced a collaborative program to accelerate academic drug discovery. The agreement establishes Charles River as the preferred research partner for Autobahn Labs, providing access to its drug discovery and development capabilities. Key points include:

1. Charles River has made an equity investment in Autobahn Labs.
2. Justin Bryans, Charles River's Chief Scientific Officer of Discovery, joins Autobahn's Board of Directors.
3. The partnership aims to advance novel academic science into transformational therapies across various modalities and disease areas.
4. Autobahn gains preferred access to Charles River's state-of-the-art drug discovery and development capabilities.
5. The collaboration is expected to expand partnerships with top-tier academic institutions and advance preclinical programs.

Charles River Laboratories International (NYSE: CRL) has announced its schedule for the release of second-quarter 2024 financial results. The company will disclose its earnings on Wednesday, August 7th, before the market opens. Following the release, a conference call is planned for 9:00 a.m. ET on the same day to discuss the financial results.

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

Charles River Laboratories and AAVantgarde have announced a CDMO agreement for the production of GMP plasmid DNA. AAVantgarde, a clinical-stage biotech firm, will use Charles River’s manufacturing expertise for their AAV-based gene delivery platforms, targeting inherited retinal diseases like Stargardt’s disease. This disease, affecting 1 in 6,500 people, causes progressive vision loss due to ABCA4 gene mutations. The collaboration will utilize Charles River’s GMP plasmid DNA center in Keele, UK, enhancing Charles River's cell and gene therapy portfolio and supporting AAVantgarde’s clinical trials.

Charles River Laboratories (NYSE: CRL) and the Gates Institute at the University of Colorado Anschutz Medical Campus have announced a strategic collaboration to develop and manufacture Good Manufacturing Practice (GMP)-grade lentiviral vectors (LVVs) for use in chimeric antigen receptor (CAR) T-cell therapies targeting hematological cancers.

The Gates Institute will leverage Charles River’s expertise in cell and gene therapy CDMO services to support its mission of advancing cellular and gene therapies. This partnership will utilize Charles River's manufacturing platforms and services, including process development, phase-appropriate research-grade and High-Quality plasmid DNA production, and GMP LVV manufacturing. Materials produced will support an upcoming Investigational New Drug (IND) application for Phase I clinical trials.

Charles River aims to expedite clinical and commercial manufacturing through standardized protocols and optimized methods, reducing development time and costs while ensuring high-quality production. This collaboration aligns with Charles River’s efforts to expand its cell and gene therapy portfolio and simplify complex supply chains.

Charles River Laboratories and Captain T Cell have announced a strategic alliance for the production of plasmid DNA and viral vectors to support T-cell immunotherapy clinical trials. This collaboration, part of Charles River's Cell and Gene Therapy (CGT) Accelerator Program, will leverage Charles River's extensive CDMO capabilities to aid Captain T Cell's development of TCR-T cell therapies for solid tumors. Captain T Cell focuses on creating T cells equipped with advanced tumor-specific receptors to treat patients whose tumors are unresponsive to existing treatments. Charles River's well-established production capabilities will streamline Captain T Cell's path from pre-clinical to commercial scale, aimed at enhancing the availability and efficacy of T-cell immunotherapies for cancer patients.

Charles River Laboratories (NYSE: CRL), in collaboration with MatTek , has secured a $1.3 million grant from the Foundation for Chemistry Research & Initiatives (FCRI) to develop a New Approach Methodology (NAM) for inhalation toxicology, aiming to reduce the reliance on animal testing. This multidisciplinary project involves Charles River’s Edinburgh team, MatTek’s in vitro EpiAirway™ model, dosimetry modeling by Battelle, and consultancy from Greek Creek Toxicokinetics. The initiative is part of Charles River's Alternative Methods Advancement Project (AMAP) and supported by the American Chemistry Council’s Long-Range Research Initiative (ACC LRI). The goal is to enhance chemical safety assessments and regulatory evaluations through innovative, non-animal testing methods.

Charles River Laboratories (NYSE: CRL) has announced the opening of a new Charles River Accelerator and Development Lab (CRADL®) facility in Somerville, Massachusetts. This AAALAC-accredited site provides flexible vivarium and laboratory space, addressing the growing demand within Massachusetts' biopharmaceutical sector. Strategically co-located with Nest.Bio, the new facility offers scalable contract vivarium space and access to Charles River's comprehensive drug discovery and non-clinical development resources. The facility's unique setup includes private lab suites, rentable lab benches, and office space on the same floor, fostering efficient communication and productivity. This is the fourth CRADL site in Massachusetts, joining nearly 30 facilities worldwide. The grand opening event is scheduled for July 31, 2024.