InVitro International (OTCMKTS:IVRO) Stock Gains After Earnings Update

InVitro International (OTCMKTS:IVRO) has been in business for 37 years and is best known for having been the pioneer marketer and developer of animal-free testing methodologies.

IVRO Advances Core Strategy to Make Non-Animal Testing Famous, Announces Fiscal Q1 2023 Results

The company was in the news on Wednesday after it announced its financial results for the first fiscal quarter of the year. The company announced that it had managed to generate sales of as much as $209250 for the quarter and that worked out to a year-on-year rise of as much as 14%. On the other hand, the company suffered an operating loss of $31169 in the quarter. That being said, it should be noted that it reflected a reduction of losses year on year by as much as 47% and that can only be seen as a positive by most investors.

The investors reacted positively to the company’s financial results and the stock went up by as much as 6% as a consequence. It is going to be interesting to see if it can manage to hold on to its momentum today and add to its gains over the rest of the week. The losses made by the company was partly due to the mergers and acquisitions activities that the company had been involved in.