Inotiv Inc Stock Price, News & Analysis

Inotiv, Inc. (NASDAQ:NOTV) has acquired genetic toxicology assets from MilliporeSigma's BioReliance portfolio, including operating procedures and client data. This transaction is structured as a sales-based royalty agreement, avoiding upfront costs for Inotiv. The acquisition enables Inotiv to expand its internal capabilities in genetic toxicology, critical for advancing drug candidates to clinical trials.

Gopala Krishna, PhD, joins Inotiv as Senior VP of Genetic Toxicology to lead the new service offering.

Inotiv, Inc. (NASDAQ:NOTV) has expanded its pathology services to include medical device pathology, appointing Nicolette Jackson as Director. This move aims to reduce reliance on third-party services and bolster in-house capabilities. Inotiv's expansion follows its acquisition of Preclinical Research Services in 2019, enhancing support for clients in the medical device sector. Dr. Jackson's expertise is expected to strengthen service offerings, building on Inotiv's established reputation in drug discovery and development.

Inotiv, Inc. (NASDAQ:NOTV), a prominent contract research organization, will join the Russell 3000® and Russell 2000® Indexes effective June 28, 2021. This inclusion, which reflects a strong market capitalization, highlights the company’s successful expansion in drug discovery and development services. CEO Robert Leasure Jr. views this milestone as a significant opportunity for increased institutional investor awareness and growth potential. The Russell indexes, benchmarked against approximately $10.6 trillion in assets, play a key role in investment strategies.

Inotiv, Inc. (NASDAQ:NOTV) has purchased its St. Louis facility for approximately $4.7 million. Construction on the facility's 20,000 square foot expansion will begin in June 2021, enhancing service offerings in drug metabolism and pharmacokinetics. Funding for the purchase and expansion will come from a public offering completed in April and a new $4.8 million term loan. CEO Robert Leasure noted this expansion will foster growth opportunities and extend Inotiv’s capabilities in drug discovery and histopathology services.

On May 11, 2021, Inotiv, Inc. (NASDAQ:NOTV) announced the appointment of Kenneth Swart, Ph.D., as Vice President of Bioanalytical Sciences. This strategic move follows recent business acquisitions aimed at enhancing the company’s pharmacology and histopathology services. Dr. Swart brings over 30 years of experience, including a leadership role at Parexel, where he advanced bioanalytical sciences. His expertise aligns with Inotiv's focus on supporting clients in drug discovery across chronic inflammation, oncology, and infectious diseases.

Inotiv, Inc. (NASDAQ:NOTV) reported Q2 FY 2021 revenue of $18.8 million, a 17.1% increase from Q2 FY 2020. Gross profit rose 20.9% to $6.3 million, with a gross margin expansion to 33.59%. However, operating loss increased to $(521,000) due to higher expenses, resulting in a net loss of $(723,000) or $(0.06) per share. For H1 FY 2021, revenue grew 26.6% to $36.6 million, and the net loss improved to $(1.1) million. A recent public offering raised $49.0 million, aiding strategic investments and acquisitions.

Inotiv, Inc. (NASDAQ:NOTV) has completed the acquisition of HistoTox Labs for $22 million and merged with Bolder BioPATH, valued at $18.5 million plus shares and notes. These strategic moves aim to enhance Inotiv’s nonclinical pharmacology and histopathology services, expanding their capabilities in drug discovery and development. To support these acquisitions, Inotiv secured $28 million in debt financing from First Internet Bank. This expansion positions Inotiv to offer comprehensive laboratory solutions for preclinical drug safety and efficacy programs.

Inotiv, Inc. (NASDAQ: NOTV) will release its fiscal 2021 second quarter financial results on May 5, 2021, after market close. A conference call to discuss these results will follow at 4:30 p.m. Eastern Time. Interested participants can join via phone or through a live webcast on the company's website. Inotiv specializes in nonclinical and analytical drug discovery services, supporting both emerging and leading pharmaceutical companies. The release also includes a forward-looking statement warning of various market risks and uncertainties.

Inotiv, Inc. (NASDAQ:NOTV) announced the successful closing of an underwritten public offering of 3,044,117 common shares, including 397,058 shares from an overallotment option, priced at $17.00 per share. The offering garnered approximately $51.7 million in gross proceeds before expenses. The shares were sold under an effective shelf registration statement, and the offering was managed by Colliers Securities LLC. Inotiv specializes in contract research services for pharmaceutical companies, aiming to enhance efficiency and reduce drug development costs.