Why Is Inotiv (NOTV) Stock Down 35% Today?

Inotiv (NASDAQ:NOTV) stock is down on Tuesday after the drug discovery and development services company reported preliminary results for Q1 2024. This has the company noting that its revenue for the six months ended on March 31, 2024 will be $254.5 million. That represents a 7.2$274.2 million in the same period of the year prior. According to Inotiv, this lower revenue is the result of a $22.9 million decrease in Research Models and Services revenue. The company attribute ...