Inotiv, Inc. reports news as a contract research organization providing nonclinical and analytical drug discovery and development services, research models, and related products for pharmaceutical, chemical, medical device, and biomedical research customers. Its updates commonly address Discovery and Safety Assessment activity, Research Models and Services performance, quarterly and annual financial results, and business trends tied to discovery, preclinical, and translational research demand.
Company announcements also cover collaborations and technology additions such as human-relevant in vitro models, AI-assisted bioinformatics, and multi-omics analysis within Discovery & Translational Sciences. Other recurring items include conference-call schedules, operational business updates, cybersecurity incident notices, and corporate communications affecting Nasdaq-listed common stock.
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.
Inotiv, Inc. (NASDAQ:NOTV) has successfully acquired Envigo RMS Holding Corp. for an aggregate consideration of $271 million comprising cash and stock. This strategic merger enhances the company’s capabilities in drug discovery and development by providing a full-spectrum solution for developers. The acquisition is funded through convertible senior notes and a senior secured term loan, amounting to $299.5 million. Inotiv's leadership aims to leverage Envigo’s research models to accelerate project delivery, aiming for growth through both organic strategies and future acquisitions.
Inotiv, Inc. (NASDAQ: NOTV) announced that its shareholders approved key matters at a special meeting, including an increase in authorized shares and the issuance of common shares for the acquisition of Envigo RMS Holding Corp. This merger will position Inotiv as a leading full-spectrum drug development solution. The acquisition is expected to finalize within one or two business days. Additionally, shareholders approved increasing shares for the equity incentive plan and authorizing common shares related to the Company’s convertible notes.
Inotiv, a leading contract research organization, announced participation in the 12th Annual Craig-Hallum Alpha Select Conference and the Jefferies London Healthcare Conference. Both events are scheduled for November 16, 2021, with a group presentation at 12:20 p.m. GMT on the same day at the Jefferies conference. Inotiv management will also engage in one-on-one meetings during both events. The company focuses on innovative services that enhance drug discovery efficiency while lowering market entry costs. More information is available on their website.
Inotiv, Inc. (NASDAQ:NOTV) has acquired Plato BioPharma, Inc. for $15 million, which includes $10 million in cash, $2 million in common shares, and $3 million in unsecured promissory notes. The acquisition is set to enhance Inotiv's operations in Boulder, Colorado, as PBI expands its facility to double its business capacity. This strategic move aligns with Inotiv's goal to broaden its drug discovery services across various therapeutic areas, ultimately supporting clients in their clinical development endeavors.
On September 27, 2021, Inotiv, Inc. (NASDAQ:NOTV) announced the successful closing of a $140 million offering of 3.25% convertible senior notes due 2027, netting approximately $134.5 million after expenses. The funds will primarily be used to facilitate the acquisition of Envigo RMS Holding Corp. The offering is exempt from registration under the Securities Act. Forward-looking statements highlight potential risks associated with market conditions and the acquisition's completion.
Inotiv, Inc. (NASDAQ:NOTV) announced the pricing of a $125 million offering of 3.25% convertible senior notes due 2027. This amount is up from the initially planned $110 million. The notes, fully guaranteed by BAS Evansville, Inc., will settle on September 27, 2021. The company expects to net approximately $120.5 million, intended to finance its acquisition of Envigo RMS Holding Corp. The notes will mature on October 15, 2027, and can be converted into shares post-April 15, 2027. Inotiv will also have the option to redeem the notes starting October 15, 2024, under specific conditions.