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 (NASDAQ: NOTV) has acquired Orient BioResource Center (OBRC) for $51.3 million, including $28.3 million in cash and approximately 677,339 shares valued at $23.0 million. The acquisition aims to enhance Inotiv's capabilities by integrating OBRC's primate facility in Alice, Texas, which spans 500 acres and generated $23 million in revenue in fiscal 2021. This strategic move seeks to fulfill client demands for increased research model access while maintaining high animal welfare standards.
Inotiv, Inc. (NASDAQ: NOTV) announced the acquisition of Integrated Laboratory Systems, LLC (ILS) for $56 million, comprising $38 million in cash and 429,118 shares valued at $18 million. ILS, specializing in genetic toxicology and related services, reported $20 million in revenue for 2021. This acquisition enhances Inotiv's capacity in toxicology services and extends its expertise into genomics and bioinformatics. The addition of ILS is anticipated to broaden Inotiv's market reach and create significant cross-selling opportunities, retaining all existing ILS employees.
Inotiv, Inc. (NASDAQ: NOTV) has announced the acquisition of the rabbit breeding and supply business from Robinson Services Inc. (RSI). This move aims to enhance Inotiv's Research Models and Services (RMS) sector by consolidating RSI's assets, including its customer list and a supply agreement for rabbits. The acquisition is expected to optimize Inotiv’s global footprint and offer a wider range of options for clients. Inotiv plans to integrate RSI's operations into its existing facilities throughout 2022, positioning itself for future growth in the research and drug development markets.
Inotiv, Inc. (NASDAQ: NOTV) and Synexa Life Sciences announced a strategic collaboration aimed at enhancing the development of biotherapeutics through advanced biomarker analysis. This partnership is expected to broaden Inotiv's service offerings, enhance customer reach, and create cost and revenue synergies. Synexa will establish U.S. operations at Inotiv's Rockville, MD facility, supporting the development of GLP-compliant biomarker services. The collaboration aims to simplify outsourcing for biopharmaceutical companies and foster preferred provider partnerships in an increasingly complex drug development landscape.
Inotiv, Inc. (NASDAQ: NOTV) reported significant growth in Q4 and FY 2021. Q4 revenue surged by 90.7% to $30.1 million, driven by acquisitions and internal growth, while FY 2021 revenue increased 48.2% to $89.6 million. Net income for Q4 reached $9.4 million compared to a net loss of $(1.8) million in Q4 2020, aided by PPP loan forgiveness. Operating expenses rose 128.8% in Q4 due to strategic investments. The company reported a backlog of $81.4 million by quarter-end, indicating strong future revenue potential.
Inotiv, Inc. (NASDAQ: NOTV) will release its financial results for Q4 fiscal 2021, ending September 30, 2021, on December 16, 2021, after market close. A conference call will follow at 4:30 p.m. ET to discuss the results. Participants can join by calling (877) 407-9753 (domestic) or (201) 493-6739 (international). The call will be accessible via the company's website, with a replay available post-broadcast. Inotiv specializes in nonclinical and analytical drug discovery, aiming to enhance efficiency and reduce costs in bringing new drugs to market.
Inotiv, Inc. (NASDAQ: NOTV) has launched new transgenic rodent models tailored for SARS-CoV-2 research. These models, developed by its RMS business and the recently acquired Envigo, include a mouse model with human ACE2 and TMPRSS2 genes, and a rat model with human ACE2. Designed to address the limitations of existing models, Inotiv's new offerings enable more accurate studies of COVID-19 and associated treatments. Utilizing CRISPR technology, the models mimic human disease pathologies closely, enhancing research capabilities for vaccine and drug testing.
Inotiv, Inc. (NASDAQ: NOTV) announces preliminary unaudited financial results for Q4 and FY 2021, reporting a substantial revenue increase. Q4 FY 2021 revenue reached $30.1 million, marking a 90.7% rise from Q4 FY 2020. Gross profit for the same period was $10.3 million, up 123.0%. For FY 2021, total revenue was $89.6 million, a 48.2% increase. The company also reported a backlog of $81.4 million, reflecting strong business growth. The earnings call to discuss these results will be rescheduled due to ongoing audit work.
Inotiv, Inc. (NASDAQ: NOTV) will release its fiscal 2021 Q4 financial results on December 7, 2021, after market close, followed by a conference call at 4:30 p.m. ET. Investors can participate by dialing (877) 407-9753 domestically or (201) 493-6739 internationally. The call will also be accessible via a live webcast in the Investors section of the Company’s website. Inotiv specializes in contract research services for drug discovery and development, aiming to enhance efficiency and reduce costs in bringing new products to market.
Inotiv, Inc. (NASDAQ: NOTV) announced the opening of advanced scientific laboratories in St. Louis focused on drug metabolism, pharmacokinetics, and other areas crucial to drug discovery. The expansion, featuring upgraded technologies such as mass spectrometry and gene profiling, positions Inotiv to support clients through early drug development stages. This project aligns with Inotiv's recent acquisition of Envigo, enhancing its pharmacology services to meet growing demand. The new facilities aim to bolster Inotiv's capabilities in drug discovery and development.
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