Inotiv drops on delay in Q4 earnings release

Inotiv

12/12/2022 14:08

** Shares of contract drug development services provider
Inotiv Inc  NOTV.O  drop nearly 23% to $4.4 premarket
    ** Co says it will delay release of its Q4 results and
conference call originally scheduled for after-market close on
Monday
    ** NOTV has lost over 60% in value since mid-November when
it disclosed employees of the company's main non-human primates
(NHPs) supplier and two Cambodian officials had been criminally
charged with conspiring to illegally import NHPs into the U.S. 
    ** Company says given the events, it requires additional
time to complete the financial statement closing process for FY
2022
    ** Also says it has been informed that Cambodia has
currently ceased any exports of NHPs
    ** Co expects total revenue for FY 2022 to increase to about
$547.7 mln from $89.6 mln in FY 2021
    ** Stock down 86.5% YTD, up to last close
 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))