Neogenomics Inc Stock Price, News & Analysis

NeoGenomics, Inc. (NASDAQ: NEO) announced that its subsidiary, Inivata Limited, received CE mark certification for its RaDaR™ assay, which detects molecular residual disease (MRD) and detects recurrences in patients. This certification allows for clinical use in key territories like the UK and EU. Additionally, Inivata submitted a request for reimbursement for the RaDaR assay under the US MolDX program. RaDaR demonstrates high sensitivity (95%) and specificity (100%) for detecting circulating cancer DNA, marking significant progress in cancer diagnostics.

NeoGenomics, Inc. (NASDAQ:NEO) has appointed Dr. David Eberhard as Chief Medical Officer of its subsidiary Inivata, focusing on liquid biopsy tests, notably the RaDaR™ assay for minimal residual disease detection. Eberhard brings over 20 years of oncology experience, having previously held leadership roles at Illumina and Genomic Health. CEO Mark Mallon emphasized the importance of Eberhard's expertise in maximizing Inivata's assay potential, while Inivata President Clive Morris highlighted his extensive clinical strategy experience as a key asset for advancing their innovative technology.

NeoGenomics, Inc. (NASDAQ:NEO) announced its collaboration with Thermo Fisher Scientific to utilize the Ion Torrent Genexus System for a Phase 1 study focused on myeloid cancers. The Genexus System streamlines the specimen-to-report workflow, enabling result delivery in as little as one day. NeoGenomics gains early access to the Oncomine Myeloid Assay GX v2 to validate its performance. This partnership aims to enhance genomic data delivery speed, improving research capabilities for myeloid cancer treatment development, thus addressing critical patient needs.

NeoGenomics (NASDAQ: NEO) announced its participation in the Stephens Annual Investment Conference 2021 on December 3, 2021, at 9:00am CT, in Nashville, Tennessee. Key executives, including CEO Mark Mallon, will present during the event, which can be accessed via live webcast on the company's investor relations website. NeoGenomics specializes in cancer-focused genetic testing and serves various clients, including pharmaceutical companies. The company operates accredited laboratories across multiple U.S. locations and globally.

NeoGenomics, Inc. (NASDAQ:NEO) has appointed Dave Daly to its Board of Directors as of November 10, 2021. Daly, who holds a BA and MA in Economics, brings extensive experience from his previous roles at Singular Genomics, Thrive Earlier Detection, and Illumina. His expertise in oncology diagnostics is expected to enhance NeoGenomics' growth strategy and improve client service. The company operates globally, focusing on cancer genetic testing and contract research services, and aims to innovate in advanced diagnostics technology.

NeoGenomics, a leader in cancer genetics testing, reported third-quarter 2021 revenue of $121 million, reflecting a 3% decrease year-over-year. Clinical Services revenue fell by 6%, though it grew 11% when excluding prior COVID-19 testing. Notably, Pharma Services revenue increased by 14% to $19 million. Operating expenses surged 76% to $88 million, impacting a net loss of $20 million. The company plans to double its sales team to enhance growth prospects for its RaDaR™ platform. Cash and equivalents totaled $546 million, while adjusted EBITDA stood at negative $3 million.

NeoGenomics, Inc. (NASDAQ:NEO) announced a leadership transition effective January 1, 2022. William Bonello, currently President of the Informatics Division, will become Chief Financial Officer, leveraging his extensive financial background to support growth initiatives. Kathryn McKenzie, the current CFO, will take on the new role of Chief Sustainability and Risk Officer, overseeing Environmental, Social, and Governance initiatives. CEO Mark Mallon expressed optimism about the appointments and their potential to drive the company's growth strategy.

NeoGenomics announced a clinical collaboration between its subsidiary Inivata and the Princess Margaret Cancer Center in Toronto to conduct two studies using liquid biopsy assays. The ACCELERATE study will compare treatment initiation times in advanced non-small cell lung cancer (NSCLC) patients using Inivata's InVisionFirst-Lung biopsy against traditional tissue profiling. The second study, ctDNA Lung, will evaluate RaDaR assay efficacy in detecting minimal residual disease after lung cancer surgery. Both studies aim to enhance treatment outcomes and accelerate patient response.

NeoGenomics, Inc. (NASDAQ:NEO) announces the release of its third quarter 2021 financial results on November 4, 2021. A webcast and conference call are scheduled for 8:30 AM EDT on the same day to discuss results. Investors can dial in or access the replay until November 18, 2021. The company specializes in cancer genetics testing and has a comprehensive testing menu for oncologists. It operates multiple accredited laboratories across the U.S., Europe, and Asia, catering to various healthcare organizations and pharmaceutical firms.