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. (NASDAQ: NOTV) is a leading contract research organization (CRO) dedicated to providing nonclinical and analytical drug discovery and development services, as well as research models and related products. The Company operates through two primary segments: Discovery and Safety Assessment (DSA) and Research Models and Services (RMS). The DSA segment supports the discovery, nonclinical, and clinical development needs of researchers and clinicians, offering a comprehensive suite of services for small molecule drug candidates, biotherapeutics, and biomedical devices.
Inotiv’s RMS segment provides access to a broad range of small and large research models for basic research, drug discovery, and development. The segment also specializes in models for specific diseases and therapeutic areas, contributing significantly to the company’s revenue.
Among Inotiv’s notable products is the innovative Culex® Automated In Vivo Sampling System, which enables efficient collection of various samples and data from awake, freely-moving subjects. This system highlights the company's commitment to cutting-edge scientific instrumentation.
Inotiv has recently achieved significant milestones. It ranked 127th on the Deloitte Technology Fast 500™, boasting a remarkable 1156% revenue growth. This growth is attributed to strategic capacity additions, key integration initiatives, optimization of infrastructure, and a purpose-driven acquisition strategy. The company's president and CEO, Robert Leasure, Jr., attributes this success to the dedicated team, strong organic growth, and a growing client base.
The company’s efforts to enhance its operations include the integration of in-house transportation to streamline processes, increase efficiency, and improve client service. Additionally, Inotiv has reaffirmed its commitment to animal welfare, agreeing to invest $7 million over three years in facility and personnel improvements and making payments totaling $22 million in fines over four years.
Financially, Inotiv reported a 10.3% increase in revenue to $135.5 million for Q1 FY 2024. The company continues to maintain compliance with its financial covenants and expects to generate fiscal 2024 revenues between $580 million and $590 million with an adjusted EBITDA of $75 million to $80 million.
Inotiv’s ongoing projects include the completion of the Hillcrest, U.K. expansion, which will consolidate operations and support growth. The company also extended the maturity date of a payable note related to its OBRC acquisition, reflecting its strategic flexibility and focus on optimizing its balance sheet.
Inotiv, Inc. remains dedicated to advancing drug discovery and development, enhancing data quality, and reducing the cost of bringing new drugs to market. The company’s strategic initiatives aim to improve efficiency, expand service offerings, and build a healthier and safer world.
For more information, visit Inotiv’s official website.
Inotiv, Inc. (NASDAQ: NOTV) will release its financial results for the fiscal 2022 fourth quarter and full year ended September 30, 2022, on January 10, 2023, after market close. A conference call will follow at 5:00 p.m. Eastern Time to discuss these results. Investors can join the call via domestic and international dial-ins. The results and subsequent call are crucial for stakeholders as they will provide insights into the Company's operational performance and market standing.
Inotiv, Inc. (NASDAQ: NOTV) announced a delay in releasing its financial results for FY 2022 due to ongoing U.S. legal issues with a principal supplier of non-human primates (NHPs). Total revenue is preliminarily expected to rise to approximately $547.7 million, significantly up from $89.6 million in FY 2021. The company's DSA backlog increased to $147.2 million. The company is cooperating with authorities while reassessing its financial processes and may need a waiver for financial covenants with lenders.
Inotiv, Inc. (NASDAQ: NOTV) announced significant expansions with the opening of its new lab facility in Rockville, MD, dedicated to bioanalysis and biomarker assays for biotherapeutics. Additionally, a pathology campus and training center in Kalamazoo, MI, is set to open in January 2023, enhancing nonclinical pathology services. The Boulder, CO facility has also expanded, increasing capacity by 30%. Inotiv's organic growth rate exceeded 30% through Q3 FY 2022, aiming to address service bottlenecks and enhance client support in drug development.
Inotiv, Inc. (NASDAQ: NOTV) announced plans to consolidate two facilities in Indianapolis and merge them with existing U.S. locations. The Company will also consolidate sites in France and the U.K. by the end of fiscal 2024, aiming to enhance operational efficiency and reduce capital expenditures. CEO Robert Leasure highlighted that these consolidations, alongside ongoing site optimizations in Virginia, Michigan, and Pennsylvania, are part of their integration strategy. The U.S. consolidation is expected to conclude by the end of fiscal 2023, with minimal associated costs.
Inotiv, Inc. (NASDAQ: NOTV) announced it will release its fiscal 2022 fourth quarter financial results on December 12, 2022, after market close. A conference call is scheduled for the same day at 5:00 p.m. ET to discuss the results. Interested participants can join via phone or access a live webcast through the company's investor relations page. Inotiv specializes in contract research services for drug discovery, aiming to enhance efficiency and reduce costs in the development of new drugs and medical devices.
Inotiv, a prominent contract research organization, announced that its leadership will attend several investor conferences in November 2022. Key events include the Furey Research Partners Hidden Gems Conference (November 7-8), the Jefferies Global Healthcare Conference in London (November 15-16), and the Craig-Hallum Alpha-Select Conference in New York (November 17). Robert Leasure Jr. and Beth Taylor will represent the company, providing insights into their drug discovery services. Presentation materials will be available on their website.
Inotiv, a prominent contract research organization, announced that Robert Leasure Jr. and Beth Taylor will attend two investor conferences in September 2022. The conferences include the 2022 Wells Fargo Healthcare Conference in Boston from September 7-9 and the Lake Street Capital Markets 6th Annual Best Ideas Growth Conference in New York City on September 14, 2022. Inotiv focuses on nonclinical and analytical drug discovery, aiming to enhance efficiency and reduce costs in drug development.
Inotiv, Inc. (Nasdaq: NOTV) reported significant growth in Q3 FY 2022, with revenues reaching $172.7 million, a dramatic rise from $22.9 million in Q3 FY 2021. This growth was fueled by acquisitions and increased demand in its Discovery and Safety Assessment and Research Models and Services sectors. However, the company suffered a net loss of $(3.6) million compared to a profit of $2.6 million in the prior year. Adjusted EBITDA soared to $37.0 million, and guidance for FY 2022 revenue was lifted to at least $550 million.
Inotiv, Inc. (NASDAQ: NOTV) announced the upcoming release of its fiscal 2022 third quarter financial results for the period ending June 30, 2022. The press release states that the results will be issued on August 10, 2022, after market close. A conference call is scheduled for the same day at 5:00 p.m. ET to discuss these results. Interested participants can join through provided domestic and international dial-in numbers. A webcast of the call will be available on the Inotiv website.
Inotiv (NASDAQ: NOTV) announced a significant expansion in its capacity to conduct Good Laboratory Practices (GLP) studies for in vitro cytogenetics and bacterial mutation assays. This enhancement is part of the Standard Battery of genetic toxicology studies needed for first-in-human evaluations of new therapeutics. Following the acquisition of genetic toxicology assets from MilliporeSigma in July 2021 and Integrated Laboratory Systems in January 2022, Inotiv aims to meet increasing demand and achieve full operational capacity by early 2023.
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