Charles River Laboratories International (CRL) experienced significant evolution over the entire news cycle. The biotech company made announcements on its third quarter earnings for 2024, beating revenue expectations but falling behind in EPS. Predictably, the company also raised its annual profit forecast and adjusted the profit outlook in reaction to market trends. It is evident the firm is strategically navigating tough circumstances. Some notable events included layoffs of 1,300 workers and shutting down several sites. CRL is seeing a shift in stock holdings - consortium companies have made changes to their positions. Van ECK Associates Corp and US Bancorp DE lessened their stakes, while Stephens Inc. AR and Assenagon Asset Management S.A. boosted their holdings. Additionally, criticism regarding CRL's use of debt and interest environment impact has been raised. On a positive note, the company has unveiled a new Retrogenix® Non-Human Protein Library as well as expanded access to CRADL® Contract Vivarium Space in Somerville. Collaborations have also been entered into, noteworthy is one with Sanofi to develop nonclinical virtual control groups and reduce the use of animals in research.
Charles River Laboratories International CRL News Analytics from Wed, 14 Feb 2024 08:00:00 GMT to Sat, 09 Nov 2024 00:35:21 GMT -
Rating 2
- Innovation 0
- Information 8
- Rumor -5
