Charles Riv Labs Intl Inc Stock Price, News & Analysis

Charles River Laboratories (NYSE: CRL) has expanded its Charles River Accelerator and Development Lab (CRADL) network by adding five new locations across California and Washington. This expansion follows the recent acquisition of Explora BioLabs and aims to enhance support for biopharmaceutical research. The new facilities provide flexible, turnkey vivarium rental space and access to a full suite of integrated drug discovery services. With 27 combined facilities, the network offers over 370,000 square feet of capacity in key biotech hubs globally.

Charles River Laboratories (NYSE: CRL) has received Good Manufacturing Practice (GMP) certification from the European Medicines Agency (EMA) for its Memphis CDMO facility. This approval allows the company to commercially produce allogeneic cell therapy drug products for European distribution. The certification follows a successful inspection by the Italian regulatory authority, marking Charles River as the first North American CDMO to achieve this milestone. This expands the company's capabilities in cell and gene therapy, enhancing its portfolio.

Charles River Laboratories International, Inc. (NYSE: CRL) reported second-quarter 2022 revenue of $973.1 million, up 6.4% year-over-year. GAAP earnings per share (EPS) were $2.13, a 23.8% increase, while non-GAAP EPS rose to $2.77, reflecting a 6.1% increase. However, the company reduced its 2022 revenue growth guidance from 13.5%-15.5% to 9.0%-11.0% due to headwinds in the CDMO business and unfavorable foreign exchange impacts. Despite robust demand in Discovery and Safety Assessment segments, challenges from foreign currency and rising interest rates were highlighted.

Charles River Laboratories International (NYSE: CRL) is set to release its second-quarter 2022 financial results on August 3 before the market opens. A conference call will follow at 9:30 a.m. ET to discuss these results. Investors can access a live webcast of the call through the Investor Relations section of the company’s website. Charles River provides critical products and services aiding pharmaceutical and biotech companies in drug development and research.

Charles River Laboratories (NYSE: CRL) has announced the opening of its High Quality (HQ) Plasmid DNA Centre of Excellence in Cheshire, UK, aiming to enhance plasmid DNA manufacturing for cell and gene therapy development. This 16,000 square foot facility will quadruple the company’s capacity to address global supply shortages and expedite the delivery of therapeutic materials. The expansion follows the acquisition of Cognate BioServices in March 2021.

Charles River Laboratories (NYSE: CRL) and Ziphius Vaccines announced a partnership to manufacture plasmid DNA, a key component for clinical-phase research. The collaboration aims to expedite the development of Ziphius' self-amplifying RNA technology, which promises enhanced protein expression at lower doses. This deal leverages Charles River's expertise in GMP plasmid production, beneficial for Ziphius’ clinical testing and vaccine development timelines. The partnership reflects a growing focus on advanced therapies, particularly in vaccine development.

Charles River Laboratories (NYSE: CRL) and ASC Therapeutics have expanded their partnership to manufacture ASC618, a second-generation gene therapy targeting hemophilia A. This collaboration leverages Charles River's expertise in Good Manufacturing Practice (GMP) for virus production established since 2019. ASC618 aims to deliver a modified version of the F8 gene to treat hemophilia A, following ASC Therapeutics' receipt of IND clearance and key regulatory designations in the U.S. and Europe. The partnership underscores a strong relationship built on trust and shared objectives for therapeutic development.

Charles River Laboratories (NYSE: CRL) will present at the Jefferies Healthcare Conference on June 8 at 10:00 a.m. ET, and at the William Blair 42nd Annual Growth Stock Conference on June 9 at 10:40 a.m. CT (11:40 a.m. ET). The presentations will cover the company's strategic focus and recent business developments. Live webcasts will be available on the Investor Relations section of the Charles River website, with replays accessible for two weeks after each event.

Charles River supports drug development for biotech and pharmaceutical sectors globally.

Charles River Laboratories (CRL) reported a strong performance for Q1 2022, with revenues reaching $913.9 million, marking a 10.8% increase year-over-year. Adjusted earnings per share (EPS) stood at $2.75, up 8.7% from the previous year. Key growth was driven by acquisitions (4.7% contribution) and organic growth of 9.4%. However, revenue was negatively impacted by foreign currency translation and divestitures. The company updated its 2022 guidance, raising reported revenue growth expectations to 13.5% - 15.5%.