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. 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, a leading contract research organization, announced participation in the virtual 2021 Colliers Institutional Investor Conference on September 9, 2021. Robert Leasure Jr., CEO, and Beth Taylor, CFO, will represent the company. Inotiv specializes in nonclinical and analytical drug discovery and development services, focusing on enhancing efficiency, data quality, and cost reduction in bringing new drugs to market. The conference presents an opportunity for investors to gain insights into Inotiv's advancements and strategies.
Inotiv, Inc. (NASDAQ: NOTV) reported significant Q3 FY 2021 financial results with a 45.2% revenue growth to $22.9 million, driven by internal growth and contributions from recent acquisitions. Gross profit rose 51.0% to $7.6 million, while the gross margin improved to 33.4%. However, the company recorded an operating loss of $(1.7) million due to increased operational expenses. Net loss widened to $(2.3) million or $(0.15) per diluted share. Total 9M FY 2021 revenue also surged 33.2% to $59.5 million. Ending backlog stands at $62 million, marking a 15% increase quarter-over-quarter.
Inotiv, Inc. (NASDAQ:NOTV) has acquired Gateway Pharmacology Laboratories LLC, effective August 2, 2021. This acquisition is aimed at enhancing Inotiv's capabilities in drug metabolism and pharmacokinetics (DMPK), reinforcing its expansion in St. Louis. The deal will bolster Inotiv's support in cardiovascular and renal pharmacology, allowing for better evaluation of new molecular entities for kidney and heart diseases. With Gateway's team onboard, Inotiv aims to provide comprehensive solutions for clients in early drug discovery.
Inotiv, Inc. (NASDAQ: NOTV) announced it will release its fiscal 2021 Q3 financial results on August 11, 2021, following market closure. A conference call to discuss the results will follow at 4:30 p.m. ET. Interested parties can join via phone or through a live webcast accessible on the company's investors' webpage. Inotiv specializes in contract research services for drug discovery and development, focusing on increasing efficiency and reducing costs for its clients.
Inotiv (NASDAQ: NOTV) announced the acquisition of laboratory assets from a Tennessee-based provider that ceased operations for approximately $1.3 million, significantly below fair market value. This strategic purchase includes lab instrumentation and chemicals, accelerating Inotiv's expansion into regulated laboratory services for biopharmaceutical firms focusing on cell and gene therapy. The investment aligns with Inotiv's broader initiative to enhance biotherapeutics offerings and follows recent expansions in their St. Louis and Boulder operations.
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.