NeoGenomics, Inc. reports developments in oncology diagnostic testing, cancer genetics and information services. The company serves oncologists, pathologists, hospital systems, academic centers and pharmaceutical firms through cancer-focused laboratory testing, professional interpretation, clinical trial and research services, validation laboratory services and oncology data solutions.
Recurring news themes include clinical revenue trends, next-generation sequencing growth, reimbursement and coverage decisions, and additions to the company’s testing menu. Updates also cover products such as PanTracer LBx, PanTracer Tissue and RaDaR ST, electronic health record access through Epic Aura, research presentations using Oncology Data Solutions, and the operation of CAP-accredited and CLIA-certified laboratory capabilities in the United States and the United Kingdom.
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.
NeoGenomics, a leader in oncology testing services, will unveil its comprehensive lung solutions and COMPASS® Hematopathology Services at the ASCO conference in Chicago from May 31 to June 4. Targeting the rise in cancer cases, the company emphasizes the importance of proper test selection for precision medicine. The new testing solutions include an early-stage NSCLC therapy panel, a 50-gene NGS panel, a liquid biopsy assay, and a 517-gene solid tumor test. NeoGenomics' COMPASS provides single-order, sample-to-diagnosis services for hematological malignancies, offering actionable insights for over 100 subtypes of leukemia, lymphoma, and myeloma. A poster presentation on gene reporting in solid tumor samples will also be featured.
NeoGenomics, Inc. (NASDAQ: NEO) reported a 14% increase in consolidated revenue to $156 million for the first quarter of 2024. Clinical Services revenue rose by 17% to $135 million, while Advanced Diagnostics revenue declined by 3% to $22 million. The net loss decreased by 12% to $27 million, with Adjusted EBITDA reaching positive $3 million, a 149% increase year-over-year.
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