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Inotiv, Inc. - NOTV STOCK NEWS

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.

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Inotiv, Inc. (NASDAQ: NOTV) announced a settlement involving Envigo and the U.S. DOJ/USDA regarding the Cumberland Facility. The court-approved settlement, dated July 15, 2022, does not impose fines and denies any admission of liability by Envigo. It includes a transfer plan for the facility's orderly closure, expected to take about 60 days. Inotiv plans to cease operations at this facility, which contributed less than 1% of total sales and has not been profitable since acquisition. This strategic decision follows prior disclosures about the need for facility improvements.

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Inotiv, Inc. (NASDAQ: NOTV) has successfully acquired Protypia, Inc., a Nashville-based company specializing in protein/peptide bioanalytical services, for approximately $11 million. This acquisition, comprised of $9.5 million in cash and shares, enhances Inotiv’s capabilities in mass spectrometry and supports drug development across key areas such as immuno-oncology and gene therapy. The company aims to integrate Protypia's technology to improve clinical trial efficacy and retain all existing Protypia employees.

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Inotiv, Inc. (NASDAQ: NOTV) announces the appointment of Glenn Washer as Group President, Safety Assessment, effective June 20, 2022. This new role aims to enhance the Company's safety assessment services globally. Washer, a board-certified toxicologist with over 35 years of CRO/biopharma experience, previously led initiatives at Frontage Laboratories and Charles River Laboratories. His responsibilities will focus on growing the safety assessment business, improving processes, and delivering excellent client experiences. Inotiv remains committed to advancing drug discovery and development services.

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Inotiv, Inc. (NASDAQ: NOTV) announced the closure of two Envigo RMS facilities in Virginia, including a canine facility in Cumberland and a rodent breeding facility in Dublin, as part of corporate restructuring. The Cumberland facility, comprising less than 1% of total revenue, will not receive further investments due to the increased costs associated with required improvements. The Dublin closure is aimed at reducing capital expenditures and enhancing operational efficiency. These changes are not expected to impact financial guidance for fiscal year 2022.

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Inotiv, Inc. (NASDAQ: NOTV), a contract research organization, has announced participation in several upcoming investor conferences. Key appearances include:

  • UBS Global Healthcare Conference, May 24, 2022, at 7:45 a.m. ET in New York City.
  • Craig-Hallum Institutional Investor Conference, June 1, 2022, virtually.
  • Jefferies Healthcare Conference, June 10, 2022, at 12:15 p.m. ET in New York City.

Webcasts of the presentations will be available on Inotiv's website.

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Inotiv, a leader in contract research services, reported Q2 FY 2022 revenue of $140.3 million, a remarkable growth of 646.3% year-over-year, attributed to strategic acquisitions and internal initiatives. Gross profit surged 609.5% to $44.7 million. However, the net loss widened to $(6.1) million, with operating expenses increasing significantly due to acquisitions and internal investments. The adjusted EBITDA jumped 1,846.2% to $25.3 million, indicating strong operational leverage. Guidance for H2 FY 2022 projects revenue of $290 million, aiming for a total of at least $510 million for the fiscal year.

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Inotiv, Inc. (NASDAQ: NOTV) announced it will release its financial results for Q2 FY2022 on May 12, 2022, after market close. A conference call will follow at 4:30 p.m. ET the same day to discuss the results. Interested participants can join via specified domestic and international phone numbers. The call will also be webcasted and accessible through the company's investors' section. The company focuses on providing nonclinical and analytical drug discovery services.

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On April 25, 2022, Inotiv, Inc. (NASDAQ: NOTV) announced the acquisition of Histion, LLC, as part of its strategy to expand specialized pathology services. This acquisition enhances Inotiv's histology operations in the plastics and medical device sectors, supporting its previously announced expansion of surgical models and medical device testing services in Fort Collins, CO. Chief Operating Officer Greg Beattie emphasized the benefits of Histion's expertise in improving client support, while Histion's President Peggy Lalor expressed enthusiasm about integrating their pathology services with Inotiv's offerings.

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Inotiv, Inc. (NASDAQ: NOTV) reported a significant 370.4% revenue increase for Q1 FY 2022, totaling $84.2 million, compared to $17.9 million in Q1 FY 2021. This growth was driven by acquisitions and internal growth. However, the company recorded a net loss of $83.0 million, or $(3.93) per share, reflecting increased operating expenses, including $23.0 million in stock compensation due to acquisitions. Adjusted EBITDA rose to $10.1 million, up 621.4%. DSA backlog increased 130.9% to $104.6 million, indicating robust future revenue prospects.

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Inotiv, Inc. (NASDAQ: NOTV) will release its financial results for the fiscal 2022 first quarter, ending December 31, 2021, on February 10, 2022, after market close. The Company will host a conference call at 4:30 p.m. ET on the same day for discussion of the results. Interested participants can join via domestic and international dialing options. The live webcast will be accessible on the Investors section of Inotiv's website, with a replay available post-broadcast. Inotiv specializes in drug discovery and development services, focusing on improving efficiency and reducing costs in bringing new drugs to market.

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FAQ

What is the current stock price of Inotiv (NOTV)?

The current stock price of Inotiv (NOTV) is $4.08 as of December 20, 2024.

What is the market cap of Inotiv (NOTV)?

The market cap of Inotiv (NOTV) is approximately 101.2M.

What services does Inotiv, Inc. provide?

Inotiv, Inc. offers nonclinical and analytical drug discovery and development services, including preclinical toxicology, bioanalysis, and pharmaceutical analysis. It also provides research models and related services.

What are the main segments of Inotiv, Inc.?

Inotiv operates through two segments: Discovery and Safety Assessment (DSA), which supports drug development needs, and Research Models and Services (RMS), which provides research models for drug discovery and specific disease studies.

What recent achievements has Inotiv, Inc. accomplished?

Inotiv recently ranked 127th on the Deloitte Technology Fast 500™, with 1156% revenue growth. The company credits its growth to strategic capacity additions, key integration initiatives, and a focus on optimization.

What is the Culex® Automated In Vivo Sampling System?

The Culex® Automated In Vivo Sampling System is an innovative product by Inotiv that collects various samples and data from awake, freely-moving subjects, enhancing efficiency in scientific research.

How is Inotiv, Inc. enhancing its operations?

Inotiv is integrating in-house transportation to streamline processes and improve efficiency. The company is also focused on optimizing its infrastructure and right-sizing its global footprint.

What is Inotiv's commitment to animal welfare?

Inotiv has committed to investing $7 million in improvements to facilities and personnel related to animal welfare and agreed to pay $22 million in fines over four years as part of its commitment to maintaining high standards.

What are Inotiv's financial highlights for Q1 FY 2024?

In Q1 FY 2024, Inotiv reported a 10.3% increase in revenue to $135.5 million, with a significant reduction in operating loss compared to the previous year. The company also maintained compliance with its financial covenants.

What are Inotiv's fiscal 2024 revenue and EBITDA expectations?

Inotiv expects fiscal 2024 revenues to be between $580 million and $590 million, with adjusted EBITDA in the range of $75 million to $80 million.

What is the significance of the Hillcrest, U.K. expansion for Inotiv?

The Hillcrest, U.K. expansion is a key part of Inotiv's transformation plan, allowing consolidation of operations and supporting growth. It is expected to bring long-term efficiency gains and benefits.

Where can I find more information about Inotiv, Inc.?

For more information, visit Inotiv’s official website at https://www.inotivco.com/.

Inotiv, Inc.

Nasdaq:NOTV

NOTV Rankings

NOTV Stock Data

101.22M
22.19M
13.48%
13.93%
5.66%
Diagnostics & Research
Services-commercial Physical & Biological Research
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