Company: NOTV
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-039017
Chunk: 254

Company: Inotiv, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 254
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 immaterial emerge from time to time and it is not possible for us to predict all such risk factors, nor to assess the impact such risk factors might have on our business, financial condition and operating results, or the extent to which any such risk factor or combination of risk factors may impact our business, financial condition and operating results.

Except as set forth below, there have been no material changes to the risk factors previously described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2024. The risk factors set forth below update the risk factors with similar headings in, and should be read together with, the risk factors disclosed under the heading "Risk Factors" appearing in Item 1A of Part I of the Annual Report on Form 10-K for the fiscal year ended September 30, 2024. Realization of any of these risks could have a material adverse effect on our business, financial condition, cash flows and results of operations.

Our business, results of operations, financial condition, including the carrying value of certain of our assets, and cash flows have and may continue to be adversely affected by our dependence on the importation of NHPs from suppliers located outside the U.S., particularly from certain countries in Southeast Asia and Africa, legal issues related to these suppliers, increased costs associated with trade and economic factors, and any inability to diversify our suppliers located outside the U.S.

Our business, results of operations, financial condition, including the carrying value of certain of our assets, and cash flows have and may continue to be adversely affected by our dependence on NHP suppliers that are located outside the U.S. and difficulties in being able to diversify our suppliers located outside the U.S. China exited the NHP exportation market in 2020 during the COVID-19 pandemic, and has repeatedly stated that it strategically intends to dominate, amongst other things, worldwide biomedical research. As such, their demand for NHPs has shifted a previously exported supply to their domestic use. Legal matters affecting the Cambodian supply of NHPs, including those arising as a result of the U.S. 

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Attorney's Office for the Southern District of Florida criminally charging employees of our then-principal supplier of NHPs in November 2022, further exacerbated an already constrained NHP supply for U.S. research.

The number of NHP suppliers located outside the U.S. is limited. If we are unable to obtain NHPs in sufficient quantities of the required species or in a timely