Inotiv, Inc. (NOTV)

Inotiv, Inc. provided nonclinical contract research services and research models to the pharmaceutical, biotechnology and medical device industries. The company traces its roots to Bioanalytical Systems, Inc., which was incorporated in 1974 and based in West Lafayette, Indiana. Bioanalytical Systems began as a provider of analytical chemistry services and instruments, including its BASi product line.

The company was renamed Inotiv in March 2021 and used the name for a broader strategy of becoming an integrated drug discovery and development partner. It acquired Seventh Wave Laboratories and other service businesses, and in November 2021 it completed the acquisition of Envigo, a supplier of research models, diets and related services, in a transaction valued at roughly half a billion dollars.

After the Envigo deal, Inotiv reported in two segments, Discovery and Safety Assessment and Research Models and Services. The first offered services such as toxicology, bioanalysis, pathology and pharmacology, and the second produced and sold laboratory animals and related products. Its customers included pharmaceutical companies, universities and government research organizations in the United States, Europe and elsewhere.

Inotiv's shares traded on the Nasdaq Global Market under the symbol NOTV. The debt used to finance the Envigo acquisition left the company with substantial leverage, and it also faced operational and regulatory difficulties in its research models business and a shifting demand environment for research services.

On June 3, 2026, Inotiv and affiliated entities filed voluntary Chapter 11 petitions in the U.S. Bankruptcy Court for the Southern District of Texas to implement a prepackaged plan of reorganization. Nasdaq suspended trading in the common stock at the opening of business on June 11, 2026, and the shares began trading over the counter under the symbol NOTVQ.

The bankruptcy court confirmed the plan on July 14, 2026, and Nasdaq filed a Form 25 with the SEC on July 10, 2026. The plan became effective on July 19, 2026. All common stock and other equity interests were cancelled, and existing shareholders received no distribution. The reorganized parent, Inotiv Parent, LLC, issued about 5.1 million units of new equity to prepetition lenders and noteholders, with first lien lenders receiving roughly 93 percent.

Immediately before the effective date, Inotiv had about 35.2 million common shares outstanding. The company emerged from Chapter 11 as a private company, with Inotiv Parent, LLC as the successor issuer, and the delisting took effect about ten days after the Form 25 filing.