Welcome to our dedicated page for Inotiv news (Ticker: NOTV), a resource for investors and traders seeking the latest updates and insights on Inotiv stock.
Inotiv Inc (NOTV) provides essential nonclinical research services and analytical solutions for pharmaceutical and medical device development. This news hub offers investors and industry professionals centralized access to official updates and strategic developments impacting the company's position in contract research organizations.
Track critical announcements including quarterly earnings reports, regulatory milestones, scientific partnerships, and operational expansions. Our curated collection ensures timely access to press releases covering drug discovery advancements, facility upgrades, and leadership changes.
Key updates feature developments from both business segments: Discovery & Safety Assessment services for preclinical research and Research Models & Services supporting biomedical studies. Stay informed about technological innovations in laboratory instrumentation and compliance achievements affecting therapeutic development pipelines.
Bookmark this page for verified updates on Inotiv's contributions to pharmaceutical research, including collaborations with biotech firms and regulatory submissions. Check regularly for objective reporting on operational developments that shape the CRO industry landscape.
Inotiv, Inc. (NASDAQ:NOTV), a prominent contract research organization, will join the Russell 3000® and Russell 2000® Indexes effective June 28, 2021. This inclusion, which reflects a strong market capitalization, highlights the company’s successful expansion in drug discovery and development services. CEO Robert Leasure Jr. views this milestone as a significant opportunity for increased institutional investor awareness and growth potential. The Russell indexes, benchmarked against approximately $10.6 trillion in assets, play a key role in investment strategies.
Inotiv, Inc. (NASDAQ:NOTV) has purchased its St. Louis facility for approximately $4.7 million. Construction on the facility's 20,000 square foot expansion will begin in June 2021, enhancing service offerings in drug metabolism and pharmacokinetics. Funding for the purchase and expansion will come from a public offering completed in April and a new $4.8 million term loan. CEO Robert Leasure noted this expansion will foster growth opportunities and extend Inotiv’s capabilities in drug discovery and histopathology services.
On May 11, 2021, Inotiv, Inc. (NASDAQ:NOTV) announced the appointment of Kenneth Swart, Ph.D., as Vice President of Bioanalytical Sciences. This strategic move follows recent business acquisitions aimed at enhancing the company’s pharmacology and histopathology services. Dr. Swart brings over 30 years of experience, including a leadership role at Parexel, where he advanced bioanalytical sciences. His expertise aligns with Inotiv's focus on supporting clients in drug discovery across chronic inflammation, oncology, and infectious diseases.
Inotiv, Inc. (NASDAQ:NOTV) reported Q2 FY 2021 revenue of $18.8 million, a 17.1% increase from Q2 FY 2020. Gross profit rose 20.9% to $6.3 million, with a gross margin expansion to 33.59%. However, operating loss increased to $(521,000) due to higher expenses, resulting in a net loss of $(723,000) or $(0.06) per share. For H1 FY 2021, revenue grew 26.6% to $36.6 million, and the net loss improved to $(1.1) million. A recent public offering raised $49.0 million, aiding strategic investments and acquisitions.
Inotiv, Inc. (NASDAQ:NOTV) has completed the acquisition of HistoTox Labs for $22 million and merged with Bolder BioPATH, valued at $18.5 million plus shares and notes. These strategic moves aim to enhance Inotiv’s nonclinical pharmacology and histopathology services, expanding their capabilities in drug discovery and development. To support these acquisitions, Inotiv secured $28 million in debt financing from First Internet Bank. This expansion positions Inotiv to offer comprehensive laboratory solutions for preclinical drug safety and efficacy programs.
Inotiv, Inc. (NASDAQ: NOTV) will release its fiscal 2021 second quarter financial results on May 5, 2021, after market close. A conference call to discuss these results will follow at 4:30 p.m. Eastern Time. Interested participants can join via phone or through a live webcast on the company's website. Inotiv specializes in nonclinical and analytical drug discovery services, supporting both emerging and leading pharmaceutical companies. The release also includes a forward-looking statement warning of various market risks and uncertainties.
Inotiv, Inc. (NASDAQ:NOTV) announced the successful closing of an underwritten public offering of 3,044,117 common shares, including 397,058 shares from an overallotment option, priced at $17.00 per share. The offering garnered approximately $51.7 million in gross proceeds before expenses. The shares were sold under an effective shelf registration statement, and the offering was managed by Colliers Securities LLC. Inotiv specializes in contract research services for pharmaceutical companies, aiming to enhance efficiency and reduce drug development costs.
Inotiv, Inc. (NASDAQ:NOTV) announced a public offering of 2,647,059 common shares priced at $17.00 each, aiming to raise approximately $45 million before expenses. The offering is set to close around April 23, 2021. Proceeds will primarily fund the $40.5 million acquisition of Bolder BioPATH, Inc. and HistoTox Labs, Inc. Additionally, part of the funds may finance a $4.7 million purchase of a facility in St. Louis. The underwriter has a 30-day option to buy an extra 397,058 shares. Colliers Securities LLC is the bookrunner for this offering.
Inotiv, Inc. (NASDAQ:NOTV) announced plans for an underwritten public offering of its common shares. The offering includes a 30-day option for the underwriter to purchase an additional 15% of the shares. The company aims to use the proceeds, along with existing resources, for acquiring Bolder BioPATH and HistoTox Labs, totaling approximately $40.5 million, and potentially for a St. Louis facility purchase of $4.7 million, contingent on financing. There is no assurance on the offering's completion or terms due to market conditions.
Inotiv, Inc. (NASDAQ:NOTV) announced preliminary unaudited financial results for Q2 and the first half of fiscal 2021. Expected total revenues are between $18.5 million and $18.8 million for Q2, reflecting a 16.6% increase year-over-year, and between $36.3 million and $36.6 million for the six months, a 26.1% increase. The services business reported a book-to-bill ratio of approximately 1.5x for Q2 and 1.3x for the six months, with a backlog of $53.9 million as of March 31, 2021, up from $45.3 million in December 2020.
