WEST LAFAYETTE, Ind., Nov. 21, 2024 (GLOBE NEWSWIRE) -- Inotiv today announced it ranked 138 on the Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America. Over the last five years Inotiv grew 847%. Inotiv’s president and chief executive officer, Robert Leasure, Jr., credits the company’s growth trajectory to listening to customers’ concerns and needs. He said, "Inotiv is incredibly proud t ...

Core Viewpoint - Inotiv, Inc. will release its financial results for the fiscal 2024 fourth quarter and full year on December 3, 2024, after market close [1] Financial Results Announcement - The financial results will cover the period ended September 30, 2024 [1] - A conference call will be held on the same day at 4:30 p.m. Eastern Time to discuss the results [3] - Interested parties can participate via domestic and international dialing options, with a conference ID of "INOTIV" [3] Company Overview - Inotiv, Inc. is a leading contract research organization specializing in nonclinical and analytical drug discovery and development services [4] - The company focuses on enhancing efficiency, improving data quality, and reducing costs associated with bringing new drugs and medical devices to market [4] - Inotiv is committed to supporting research and development objectives and aims to contribute to a healthier and safer world [4]

WEST LAFAYETTE, Ind., Sept. 16, 2024 (GLOBE NEWSWIRE) -- Inotiv, Inc. (Nasdaq: NOTV) (the "Company" or "Inotiv"), a leading contract research organization specializing in nonclinical and analytical drug discovery and development services and research models and related products and services, has amended certain terms of its Credit Agreement. In addition, Inotiv has closed the sale of $22.6 million aggregate principal amount of 15% Senior Secured Second Lien PIK Notes due February 2027 (the "Second Lien Note ...

WEST LAFAYETTE, Ind., Aug. 28, 2024 (GLOBE NEWSWIRE) -- Inotiv, Inc. (Nasdaq: NOTV), a leading contract research organization specializing in nonclinical and analytical drug discovery and development services and research models and related products and services, announced today that Robert Leasure Jr., Inotiv's President and Chief Executive Officer, and Beth Taylor, Chief Financial Officer, will participate in the 8th Annual Lake Street Best Ideas Growth Conference on Thursday, September 12, 2024, in New Y ...

Financial Data and Key Metrics Changes - For Q3 2024, total revenue was $105.8 million, a decrease of 33% from $157.5 million in the prior year, primarily due to a decrease in NHP sales and a 35% reduction in NHP average price [17] - For the nine months ended June 30, 2024, consolidated revenue was $360.3 million, down 16.5% from $431.7 million for the same period last year [17] - Adjusted EBITDA for Q3 was $0.1 million, less than 1% of total revenues, compared to $30.5 million or 19.4% of total revenue for the same quarter last year [24] Business Line Data and Key Metrics Changes - DSA revenues in Q3 2024 decreased by approximately 6% to $44.2 million compared to $46.8 million in the prior year, driven by a decrease in general toxicology services [18] - RMS revenue for Q3 was down 44.4% to $61.6 million compared to $110.7 million in the same quarter last year, primarily due to lower NHP-related product and service revenue [20] - Year-to-date RMS revenue was down 24.3% to $224.8 million compared to $296.8 million in the same period last year [20] Market Data and Key Metrics Changes - The DSA segment saw net new orders running ahead of last year’s pace by approximately 5% for the nine months ended June 30, 2024 [12] - The average sales price of NHPs in Q3 2024 decreased approximately 23% sequentially from Q2 2024 and 35% compared to the same period in fiscal 2023 [21] - The company is beginning to see early signs of recovery in the NHP market, with expectations to potentially double the volume of NHPs sold in Q4 2024 compared to Q3 2024 [8] Company Strategy and Development Direction - The company aims to be a leading mid-sized preclinical CRO and is focusing on diversifying its customer base and migrating to long-term recurring contracts [9] - The company has completed significant investments to grow its service offerings and improve operational efficiencies [15] - The company is committed to building a business that creates value for customers, employees, and shareholders while addressing legal challenges and industry headwinds [16] Management's Comments on Operating Environment and Future Outlook - Management noted that improved funding levels for biotech companies in early 2024 have positively impacted project awards, but biopharma companies are expected to remain conservative in their preclinical pipeline investments [11] - The company anticipates a significant improvement in Q4 2024, with potential sales of NHPs expected to increase by 120% to 130% compared to Q3 2024 [34] - Management expressed confidence in the future of the industry and the company, emphasizing the importance of focusing on customer service and operational improvements [59] Other Important Information - The company reached a resolution of the Virginia DOJ investigation and related settlement, which is expected to reduce legal expenses by approximately $2 million to $3 million per quarter [31] - The company amended its loan agreement with senior debt holders for the DOJ settlement and received a waiver for non-compliance with financial covenants as of June 30, 2024 [9] Q&A Session Summary Question: What does the resolution of the Florida DOJ situation mean for legal expenses? - Legal expenses are expected to decrease significantly, potentially by $2 million to $3 million per quarter [31] Question: When can improvements in NHP sales be expected? - Q4 is expected to show improvements, with potential sales of NHPs increasing significantly compared to Q3 [34] Question: How is the company addressing pricing pressures in the market? - The company is focusing on differentiating its services and has seen some success in maintaining demand despite pricing pressures [36] Question: Can you elaborate on the customer base and inventory levels? - The company has diversified its customer base, with no single customer representing over 10% of sales, and is seeing good inquiry levels for NHPs [40] Question: What is the outlook for long-term contracts? - The company expects a significant portion of its sales to be committed to long-term contracts, potentially over 75% [49]

Inotiv, Inc. (NOTV) came out with a quarterly loss of $0.20 per share versus the Zacks Consensus Estimate of a loss of $0.09. This compares to earnings of $0.07 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -122.22%. A quarter ago, it was expected that this company would post earnings of $0.05 per share when it actually produced a loss of $0.29, delivering a surprise of -680%. Over the last four quarters, the company has not ...

https://viavid.webcasts.com/starthere.jsp?ei=1677787&tp_key=b286b1a375 For those who cannot listen to the live broadcast, an online replay will be available in the Investors section of Inotiv's web site at: https://www.inotivco.com/investors/investor-information/. About Inotiv Inotiv, Inc. is a leading contract research organization dedicated to providing nonclinical and analytical drug discovery and development services and research models and related products and services. The Company's products and servi ...

"We are also pleased OBRC agreed to further extend the maturity date of the OBRC payable note. Inotiv will continue to evaluate opportunities to optimize our balance sheet. Inotiv acquired Orient BioResource Center's ("OBRC") primate quarantine and holding facility, located near Alice, Texas, in 2022. As part of the original purchase consideration, the Company agreed to leave in place a payable note owed by OBRC to the seller in the amount of $3.7 million. Originally, the payable note bore no interest and w ...

WEST LAFAYETTE, Ind., June 03, 2024 (GLOBE NEWSWIRE) -- Inotiv Inc. – Inotiv Inc. ("Inotiv" or the "Company") (Nasdaq: NOTV), a leading contract research organization dedicated to providing nonclinical and analytical drug discovery and development services and research models, today announced that it reached an agreement with the U.S. Department of Justice ("DOJ") to resolve a previously-announced criminal investigation into the shuttered canine breeding facility located in Cumberland, Virginia, which was o ...

Moving forward, the Company plans to continue to take important steps toward best-in-class animal welfare practices and a culture of compliance across its operations. Additional details about Inotiv's longstanding commitment to animal welfare and a timeline of the facts can be found at www.Inotivco.com/about/Cumberland. WEST LAFAYETTE, Ind., June 03, 2024 (GLOBE NEWSWIRE) -- Inotiv Inc. – Inotiv Inc. ("Inotiv" or the "Company") (Nasdaq: NOTV), a leading contract research organization dedicated to providing ...