Inotiv drops after FDA says phasing out animal testing of monoclonal antibodies

Shares of Inotiv (NOTV) were down $1.39, or 50%, to $1.42 near the close of trading after the Food and Drug Administration announced that it is replacing animal testing in the development of monoclonal antibody therapies and other drugs with “more effective, human-relevant methods.” Shares of Charles River Laboratories (CRL) were also down about 30% to $98.45 near the close of trading.