Neogenomics Inc Stock Price, News & Analysis

NeoGenomics (NEO) reported strong Q3 2024 results with consolidated revenue increasing 10% to $168 million. Clinical Services revenue grew 14% to $146 million, while Advanced Diagnostics revenue decreased 10% to $22 million. The company achieved a 305% increase in Adjusted EBITDA to $13 million, marking its fifth consecutive quarter of positive Adjusted EBITDA. Net loss decreased 4% to $18 million. Based on strong performance, NeoGenomics raised its full-year 2024 Adjusted EBITDA guidance to $37-$40 million. Clinical test volume increased 9% year-over-year, with average revenue per test rising 5% to $463.

NeoGenomics (NASDAQ: NEO) has received conditional approval from the New York State Department of Health for its Neo Comprehensive Solid Tumor assay and NeoTYPE® DNA & RNA Lung test. This approval allows for immediate commercial access in New York, known for its stringent validation standards for laboratory-developed tests.

These next-generation sequencing (NGS) tests offer improved diagnostic value and cost-effectiveness compared to single gene testing, guiding first-line treatment for various solid tumors, including non-small cell lung cancer. The approval enables NeoGenomics to expand its services to more healthcare providers and patients in New York, where approximately 116,000 people are diagnosed with cancer annually.

The tests align with National Comprehensive Cancer Network (NCCN) guidelines and can detect less common genetic markers that cancer-specific profiles or single-gene tests might miss. NeoGenomics operates CLIA-certified and CAP-accredited laboratories across the U.S., ensuring high-quality standards for clinical testing.

NeoGenomics (NASDAQ: NEO), a leading oncology testing services company, has announced it will release its third quarter 2024 financial results before the U.S. financial markets open on Tuesday, November 5, 2024. The company's management will host a webcast and conference call at 8:30 a.m. ET to discuss the financial results and recent highlights.

Investors can access the live webcast through the Investor Relations section of NeoGenomics' website at ir.neogenomics.com. The webcast will be archived for replay shortly after the call concludes. For those preferring to join via telephone, the dial-in numbers are (888) 506-0062 (domestic) or (973) 528-0011 (international), with the participant access code 676597. Callers are advised to dial in at least five minutes before the call starts.

NeoGenomics (NASDAQ: NEO) has announced progress with a new version of its RaDaR® technology and resolved litigation with Natera regarding RaDaR 1.0. The company will host a business update conference call on September 24, 2024, at 8:30 a.m. ET.

The settlement with Natera is confidential but not material to the company's bottom line and does not impact its adjusted EBITDA guidance range or liquidity expectations. Investors can access the live webcast through the Investor Relations section of NeoGenomics' website or join the call via telephone using the provided dial-in numbers and access code.

NeoGenomics (NASDAQ: NEO) will present three studies at the ESMO Congress 2024 in Barcelona, showcasing advancements in cancer diagnostics using ctDNA and NGS. Key findings include:

1. NGS testing for 19 drug-targetable fusions can identify up to 4x more patients for matched therapies compared to testing.

2. A large-scale study on ctDNA in early-stage NSCLC identifies high-risk patients who may benefit from aggressive treatment.

3. A Phase II trial evaluating ctDNA as a marker for treatment decisions in high-risk melanoma patients.

These studies highlight the potential of advanced molecular diagnostics to improve early cancer detection and personalized treatment strategies.

NeoGenomics, Inc. (NASDAQ: NEO), a leading oncology testing services company, has announced its participation in the Morgan Stanley 22nd Annual Global Healthcare Conference. The company's top executives, including CEO Chris Smith, CFO Jeff Sherman, and CCO Warren Stone, will engage in an in-person fireside chat on Friday, Sept. 6, 2024, at 10:45 a.m. ET in New York City.

The presentation will be webcast live and can be accessed online through a provided link. For those unable to attend or watch live, a replay will be made available on the Investor Relations section of NeoGenomics' website at ir.neogenomics.com.

NeoGenomics (NASDAQ: NEO) reported strong Q2 2024 results, with consolidated revenue increasing 12% to $165 million. Clinical Services revenue grew 15% to $141 million, while Advanced Diagnostics revenue decreased 3% to $23 million. The company's net loss decreased 23% to $19 million, and Adjusted EBITDA increased 630% to positive $11 million.

Key highlights include:

• Clinical test volume up 6% year-over-year
• Average revenue per clinical test increased 9% to $454
• Gross profit margin at 44.1%, with Adjusted Gross Profit Margin at 47.3%
• Cash and cash equivalents totaled $388 million at quarter-end

NeoGenomics raised its full-year 2024 guidance, projecting revenue between $655-$667 million and Adjusted EBITDA of $33-$37 million.

NeoGenomics (NASDAQ: NEO), a premier oncology testing services company, will release its Q2 2024 financial results on July 29, 2024, after U.S. markets close. A webcast and conference call to discuss the financial outcomes and recent highlights are scheduled for 4:30 p.m. ET the same day. Interested parties can access the live webcast through the Investor Relations section on NeoGenomics' website, with a replay available afterward. For phone access, dial (888) 506-0062 (domestic) or (973) 528-0011 (international) using the participant code 276062.

NeoGenomics (NASDAQ: NEO), a leader in oncology testing services, announced that Fort Myers’ Mayor Kevin Anderson will proclaim June as NeoGenomics’ Commitment to Cancer Month. This proclamation honors cancer survivors and those living with cancer. NeoGenomics, headquartered in Fort Myers, serves over 600,000 patients annually and aims to serve one million patients per year by 2028. The formal announcement will take place at the City Council meeting on June 17. CEO Chris Smith will attend to accept the honor. The proclamation acknowledges NeoGenomics' dedication to supporting cancer patients and survivors. This follows NeoGenomics' signing of the Working with Cancer Pledge, showcasing their support for team members affected by cancer or caring for loved ones with the disease.