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 (Nasdaq: NOTV) has announced its participation in two major investor conferences. Robert Leasure Jr., President and CEO, will present at the Jefferies London Global Healthcare Conference on November 19th at 1:30 p.m. GMT at the Waldorf-Hilton Hotel, London. The presentation will be available via live webcast on Inotiv's website.
Additionally, Beth Taylor, CFO, will attend the 15th Annual Craig-Hallum Alpha Select Conference on November 19th at the Sheraton NY Times Square Hotel, where she will host one-on-one meetings with investors. The company, a leading contract research organization, specializes in nonclinical and analytical drug discovery services, research models, and related products.
Inotiv, Inc. (Nasdaq: NOTV) has amended its Credit Agreement and secured additional liquidity through the sale of $22.6 million in 15% Senior Secured Second Lien PIK Notes due February 2027. The company also issued warrants to purchase common shares. This move aims to increase liquidity and strengthen Inotiv's balance sheet. The Credit Agreement amendment provides financial covenant relief through June 30, 2025, and establishes new covenant tests thereafter.
CEO Robert Leasure Jr. stated that this will give Inotiv more flexibility to see results from recent site optimization plans, NHP market recovery, and efforts to grow market share and cashflow. The company continues to focus on improving customer experience, organic revenue growth, and evaluating opportunities to enhance its balance sheet.
Inotiv (Nasdaq: NOTV), a leading contract research organization, announced its participation in the 8th Annual Lake Street Best Ideas Growth Conference on September 12, 2024, in New York City. Robert Leasure Jr., President and CEO, and Beth Taylor, CFO, will represent the company at the event.
The conference provides an opportunity for Inotiv's management to host one-on-one meetings with investors and attendees. This engagement allows the company to showcase its expertise in nonclinical and analytical drug discovery and development services, as well as its offerings in research models and related products.
Investors interested in arranging meetings with Inotiv's leadership should contact their Lake Street conference representative to schedule appointments.
Inotiv (NOTV) reported Q3 FY2024 financial results, with revenue down 32.8% to $105.8 million. Key highlights include:
- YTD fiscal 2024 revenue down 16.5% to $360.3 million
- Q3 net loss of $26.1 million, compared to $0.4 million net income in Q3 FY2023
- Adjusted EBITDA of $0.1 million in Q3 FY2024, down from $30.5 million in Q3 FY2023
- DSA backlog at $139.4 million, down from $149.1 million year-over-year
- Conclusion of certain government investigations
- Completion of site optimization projects
The company faced challenges due to lower non-human primate demand and pricing, but sees signs of recovery in various segments of its business.
Inotiv, Inc. (NASDAQ: NOTV), a leading contract research organization, has announced it will release its fiscal 2024 third quarter financial results on Thursday, August 8, 2024, after market close. The company will host a conference call at 4:30 p.m. Eastern Time on the same day to discuss the results. Interested parties can participate by dialing 1-800-225-9448 (Domestic) or 1-203-518-9708 (International) with the Conference ID: INOTIV. A live webcast will be available on the company's website, and a replay will be accessible in the Investors section for those unable to attend the live broadcast.
Inotiv, a leading contract research organization (CRO), has completed its Hillcrest, U.K. expansion project. This expansion allows two new customers to start their long-term contracts and enables the transfer of operations from the Blackthorn facility to Hillcrest by September 2024.
Inotiv has also extended the maturity date of its $3.7 million OBRC payable note to July 2025, which will start accruing interest at 4.6% per annum from July 2024. CEO Robert Leasure Jr. highlighted these steps as part of the company's transformation plan initiated in 2022, focusing on growth, efficiency, and improvements in infrastructure and animal welfare.
The company aims to ramp up sales and marketing efforts and develop new services, positioning itself as a global mid-sized CRO. The consolidation and integration projects are expected to yield efficiency gains.
Inotiv has reached an agreement with the U.S. Department of Justice to resolve a criminal investigation into the closed canine breeding facility in Cumberland, Virginia, initially operated by Envigo RMS. Envigo RMS and Envigo Global Services pleaded guilty to charges related to the Animal Welfare Act and the Clean Water Act, respectively. The resolution includes $22 million in fines, payable over four years, and a commitment to invest $7 million in animal welfare improvements. Additionally, Inotiv has paid $6.5 million towards various environmental and animal welfare initiatives and agreed to non-monetary conditions. This agreement aims to eliminate uncertainty and allow Inotiv to focus on its core business of drug discovery and development services while reinforcing its dedication to animal welfare.
Inotiv (Nasdaq: NOTV) announced participation in the 21st Annual Craig Hallum Institutional Investor Conference in Minneapolis on May 29, 2024, and the Jefferies Global Healthcare Conference in New York from June 4-6, 2024. Key executives, including CEO Robert Leasure Jr. and CFO Beth Taylor, will engage in one-on-one meetings and presentations aimed at institutional investors, with a notable presentation at 10:30 AM ET on June 6, 2024. Investors can schedule meetings via their sales reps at Craig Hallum and Jefferies.
Inotiv (NASDAQ: NOTV) reported a 21.5% decline in Q2 fiscal 2024 revenue, amounting to $119.0 million, driven by reduced demand in Research Models and Services (RMS). Year-to-date revenue also fell by 7.2% to $254.5 million. The company's consolidated net loss for Q2 FY 2024 reached $48.1 million, significantly impacted by a $26.5 million charge related to an agreement in principle with the U.S. Department of Justice (DOJ). Adjusted EBITDA for Q2 FY 2024 was $3.1 million. Management noted weak non-human primate (NHP) demand and ongoing site optimization projects. The company has withdrawn its fiscal 2024 outlook due to uncertain NHP demand but continues to focus on long-term strategic goals, including expense reduction and revenue growth initiatives.
Inotiv (NASDAQ: NOTV), a prominent contract research organization, will release its fiscal 2024 Q2 financial results on May 15, 2024, after market close. The results will cover the period ending March 31, 2024.
Following the release, the company will hold a conference call at 4:30 p.m. Eastern Time to discuss the results. Interested individuals can join the call by dialing the provided numbers or via a live webcast accessible through Inotiv's investor section.
A replay will also be available online for those unable to attend the live session.
