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Friday, March 24, 2023

Inotiv (NASDAQ: NOTV) Announces Acquisition of all Assets of HistoTox Labs for $22M

Inotiv, Inc. (NASDAQ: NOTV) disclosed that it has decided to acquire all the assets of HistoTox Labs, Inc. The firm has inked a purchase agreement with HistoTox for the buying of all the assets of the firm. The competent team and sophisticated approach of HistoTox in cell-typing, gene therapy, etc. are the greatest addition to the firm.

It has been disclosed that for the past three years, HistoTox has been able to generate revenue organically at a compounded yearly growth rate above 30%. Since its inception in 2003, it has been creating a competent team while nurturing a culture devoted to scientific knowledge and experience, excellent customer service, and perfection in both the quality and appropriateness of data the firm offer.

Shares of Inotiv soared 2.10% as the firm gained +0.43 during the trading session of Tuesday. NOTV has recorded a trading volume of 30.28K as compared to the average volume of 103.53K. In the past 52-weeks of trading, the share of the firm fluctuated between the 52-weeks low range of $3.75 and a high range of $21.40. The firm has a total market capitalization of $237.99 million at the time of writing.

Furthermore, it has been revealed that the deal is dependent on the traditional execution procedures and funding. A Current Report on Form 8-K containing further details concerning the anticipated deal will be submitted by Inotiv. It will be made accessible on the U.S. SEC’s EDGAR website.

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