Neogenomics Inc Stock Price, News & Analysis

NeoGenomics reported a record revenue of $126 million for Q4 2020, an 18% increase year-over-year. Clinical Services revenue rose 14% to $107 million, boosted by $9 million in COVID-19 testing. Pharma Services revenue surged 43% to $19 million with a backlog growth of 60% to $209 million. Although net income for 2020 declined to $4 million from $8 million in 2019, adjusted EBITDA fell to $35 million from $57 million. The company completed stock and convertible note offerings, generating $553 million for corporate growth and acquisitions.

NeoGenomics, Inc. announces a leadership transition with Mark Mallon set to become CEO on April 19, 2021, succeeding Douglas M. VanOort, who will assume the role of executive chairman. VanOort, who led the company for 12 years, helped grow revenues from $20 million to approximately $500 million, and increased market capitalization from $26 million to over $6 billion. Mallon, previously CEO of Ironwood Pharmaceuticals, brings extensive experience from AstraZeneca. The change aims to build on NeoGenomics' strong competitive position in oncology testing and enhance value for stakeholders.

NeoGenomics, Inc. (NASDAQ:NEO) will participate in the BTIG Virtual Medtech, Digital Health, Life Science & Diagnostic Tools Conference on February 19, 2021 at 9:30am ET. Presenters include CEO Douglas VanOort, CFO Kathryn McKenzie, and Chief Strategy Officer Doug Brown. The event will be available via live webcast on the company's investor relations website. NeoGenomics specializes in cancer genetics testing and provides comprehensive services for diagnostics and drug development for various healthcare entities worldwide.

NeoGenomics, Inc. (NASDAQ:NEO) announced plans to release its fourth quarter and full year 2020 financial results on February 24, 2021. A conference call to discuss these results is scheduled for 8:30 AM EDT on the same day. Investors can access the call by dialing the provided numbers. NeoGenomics specializes in cancer genetics testing and offers comprehensive oncology-focused testing services. The Company operates accredited laboratories across the U.S., Switzerland, and Singapore, serving a variety of healthcare entities.

Parexel and NeoGenomics have announced a strategic partnership aimed at enhancing oncology clinical trials through the application of real-world genomic data. This collaboration will facilitate better patient matching and optimize trial design by identifying genomic mutations and linking patient data with clinical datasets. The partnership seeks to accelerate patient enrollment in clinical trials and improve treatment outcomes. Both companies aim to expand their relationship in the oncology space by exploring advancements in lab services and biomarker capabilities.

The Access to Comprehensive Genomic Profiling Coalition has welcomed NeoGenomics (NASDAQ: NEO) and Tempus, emphasizing advocacy for broad U.S. insurance coverage of comprehensive genomic profiling (CGP) for advanced cancer patients. NeoGenomics offers extensive cancer diagnostics and services, while Tempus utilizes AI to enhance precision medicine efforts. Both companies aim to improve patient outcomes through better access to CGP, which informs treatment decisions. The coalition will also engage insurers to highlight the clinical and economic benefits of CGP.

NeoGenomics announced the pricing of public offerings of 4,081,632 shares of common stock at $49.00 per share, aiming for gross proceeds of $200 million, and $300 million in 0.25% convertible senior notes due 2028. The offerings are set to close around January 11, 2021. The convertible notes have an initial conversion price of approximately $66.15 per share, with a conversion premium of 35%. Proceeds will be utilized for general corporate purposes and potential investments. Underwriters have a 30-day option to purchase additional shares and notes.

NeoGenomics, Inc. has announced public offerings of approximately $200 million in common stock and $250 million in convertible senior notes due 2028. The offerings are not contingent on each other and are subject to market conditions. The convertible notes will bear interest and can be converted into cash or shares based on specific circumstances. Funds will be utilized for general corporate purposes and capped call transactions, with potential investments in complementary businesses. Market reactions may vary based on derivatives transactions related to these offerings.

NeoGenomics, Inc. (NASDAQ: NEO) will participate in the virtual 39th Annual J.P. Morgan Healthcare Conference on January 11, 2021, at 5:20pm ET. Key executives, including Chairman Douglas VanOort and CFO Kathryn McKenzie, will present. The event will be accessible via the company's investor relations website. NeoGenomics specializes in cancer genetic testing and offers extensive services globally, catering to pathologists, oncologists, and pharmaceutical firms. The company operates accredited laboratories in multiple U.S. locations and internationally in Switzerland and Singapore.