Neogenomics Inc Stock Price, News & Analysis

NeoGenomics, Inc. has achieved CAP certification for its Suzhou laboratories with zero deficiencies, enhancing its capabilities in oncology drug development for clients in China. This certification will benefit global pharmaceutical partners by facilitating clinical trials from early discovery research to drug development. The company has established partnerships with local CROs and offers a variety of testing services including next-generation sequencing. The strategic move aims to strengthen NeoGenomics' position in the growing biopharma sector.

NeoGenomics, Inc. (NASDAQ:NEO) announced the appointment of Lynn Tetrault as Chair of the Board and Interim CEO effective May 12, 2022, following the previous CEO's resignation. Tetrault, who has been with the company since 2015, will ensure operational continuity during the search for a permanent CEO. The company also disclosed the departure of Douglas Brown, Chief Strategy and Corporate Development Officer, on May 27. The firm remains focused on enhancing operational efficiency and providing extensive cancer genetic testing services.

NeoGenomics (NASDAQ: NEO) announced that its subsidiary Inivata will present new data on its RaDaR assay for minimal residual disease detection at the ASCO Annual Meeting from June 3-7, 2022. The presentations will include three posters and one oral presentation showcasing RaDaR's sensitivity and specificity across tumor types, along with data on the InVisionFirst-Lung test for advanced lung cancer. The advancements highlight the potential of these assays to transform cancer care.

NeoGenomics, Inc. (NASDAQ: NEO) announced the appointment of Vishal Sikri as President and Chief Commercial Officer of Inivata, effective May 23, 2022, following the departure of Dr. Clive Morris. Vishal brings over 20 years of experience in somatic diagnostics, previously serving as President of Oncology at Invitae. The transition aims to enhance leadership in precision oncology, particularly with the upcoming launch of the RaDaR assay. Separately, Dr. Gina Wallar resigned as President of Pharma Services, with Jennifer Rose taking interim responsibilities.

NeoGenomics (NASDAQ: NEO) announced its participation in the BofA 2022 Healthcare Conference on May 12, 2022, in Las Vegas, with a fireside chat scheduled at 9:20 AM PT. Senior management will discuss the company's cancer-focused genetic testing services and operational strategies. The event will be webcasted live and accessible via the company’s website. NeoGenomics specializes in comprehensive oncology services and is dedicated to connecting patients with innovative therapies and clinical trials.

NeoGenomics (NASDAQ:NEO) reported its first-quarter results for 2022, showing a 1% increase in consolidated revenue to $117 million. The Clinical Services segment grew by 2% to $99 million, while Pharma Services revenue fell 4% to $18 million. Gross profit decreased by 8% to $38.2 million, resulting in a net loss of $49 million. Operating expenses surged 59% to $34 million, mainly due to acquisitions. Despite challenges, the company aims to improve performance and is actively searching for a new CEO.

NeoGenomics, Inc. (NASDAQ:NEO) has partnered with Eli Lilly to launch a sponsored testing program for patients with metastatic non-small cell lung cancer (NSCLC). This program offers the NeoTYPE® DNA and RNA Assay at no cost to eligible patients, helping them access targeted genomic testing. The initiative aims to enhance patient care by improving access to comprehensive tumor genomic profiling, which remains underutilized. Additionally, for patients unable to provide tissue samples, the InVisionFirst®-Lung Liquid Biopsy will be available at no cost.

NeoGenomics, Inc. (NASDAQ: NEO) announced significant findings from its subsidiary, Inivata, regarding the RaDaR assay for minimal residual disease (MRD) in stage III urothelial cancer, presented at the AACR Annual Meeting. Data from the NABUCCO study indicated that ctDNA detection post-treatment correlated with patient outcomes. Notably, 76% of patients with undetectable ctDNA post-treatment had a complete pathological response. These findings underscore RaDaR's potential for clinical application and future commercialization efforts by Inivata.

Biognosys has entered a strategic partnership with NeoGenomics (NASDAQ: NEO), enhancing NeoGenomics' multiomics solutions for biopharma clinical trials. This partnership will enable NeoGenomics labs to leverage Biognosys' advanced proteomics technology, including the TrueDiscovery™ platform. The collaboration aims to improve oncology drug development through joint scientific initiatives and presentations at the AACR Annual Meeting 2022. Initial efforts focus on combining proteomics and multiplexed immunofluorescence for analyzing tumor samples, potentially advancing biomarker identification for immunotherapy.