Inotiv Inc (NASDAQ:NOTV) stock rose% (As on Dec 17, 11:22:38 AM UTC-4, Source: Google Finance) after the company in the fourth quarter of FY 21 has reported 90.7% increase in the revenue to $30.1 million, from $15.8 million during the three months ended September 30, 2020 (“Q4 FY 2020”), driven by internal growth of $6.7 million and incremental revenue from HistoTox Labs, Inc. (“HistoTox Labs”), Bolder BioPATH, Inc. (“Bolder BioPATH”) and Gateway Pharmacology Laboratories LLC (“Gateway Pharmacology”) totaling $7.6 million. Gross profit increased 123.0% to $10.3 million, from $4.6 million in Q4 FY 2020, reflecting higher revenue and a 496 basis point expansion in gross margin to 34.3%. Operating loss totaled $(3.4) million, compared to an operating loss of $(1.4) million in Q4 FY 2020, reflecting an increase in operating expenses, which more than offset higher gross profit on higher revenue. The company has reported net income of $9.4 million, or $0.06 per diluted share, compared to a net loss of $(1.8) million, or $(0.16) per diluted share, in Q4 FY 2020. Adjusted EBITDA increased to $4.3 million, from $156,000 in Q4 FY 2020. Book-to-bill ratio was of 1.77x for services business. Ending backlog of $81.4 million, up 31.3% compared to $62.0 million at June 30, 2021, and up 85.8% from $43.8 million at September 30, 2020.

On the other hand, during fourth quarter, the company had announced the acquisition of assets from MilliporeSigma’s BioReliance portfolio to expand genetic toxicology offering and hiring of Gopala Krishna, PhD, to build and lead the startup of the genetic toxicology business. The company had announced the acquisition of laboratory instrumentation to accelerate the startup and development of laboratory services pursuing cell and gene therapy as well as traditional biotherapeutics and immunotherapies. The company had announced the acquisition of Gateway Pharmacology for increased drug metabolism & pharmacokinetics (DMPK) technology and capability, as well as a new cell and molecular biology suite capable of delivering in vitro solutions in pharmacology and toxicology early in drug discovery. The company announced the entry into an agreement to purchase Envigo, a leading global provider of research models and services.

Additionally, subsequent to the quarter, the company had announced the acquisition of Plato BioPharma, Inc., a Colorado-based in vivo pharmacology research and drug discovery company specializing in cardiovascular, renal, pulmonary and hepatic therapeutic areas.