Neogen Corp Stock Price, News & Analysis

NEOGEN Corporation (NASDAQ: NEOG) and Gencove have launched InfiniSEEK™, a groundbreaking solution that integrates low-pass whole genome sequencing and high-coverage genotyping. This innovative technology aims to enhance cattle breeding by providing genomic insights with over 99% accuracy compared to deep genome sequencing. InfiniSEEK minimizes selection bias, facilitates the discovery of new traits, and efficiently manages over 400 bovine genetic traits. This product represents NEOGEN's commitment to offering advanced genomic technologies in the agrigenomics sector.

NEOGEN Corporation (NASDAQ: NEOG) and FOXO Technologies, Inc. have partnered on a significant research initiative exploring the links between epigenetic aging and various health factors. This project taps into the extensive Physicians' Health Study database, analyzing over 11,000 blood samples to create one of the largest epigenetic datasets. The collaboration aims to enhance understanding of lifestyle impacts on health outcomes, contributing to advancements in longevity science.

NEOGEN Corporation (NASDAQ: NEOG) has achieved a CLIA Certificate of Compliance for its genomics business in Lincoln, Nebraska, allowing it to conduct human genome testing. This certification enables NEOGEN to engage in extensive clinical research and genetic variant screening, enhancing its service offerings and participation in epigenome-wide association studies. NEOGEN's CEO, John Adent, highlighted this as a step towards innovative solutions for global customers, while Dr. Jason Lilly emphasized the company's commitment to quality standards in biological testing.

NEOGEN Corporation (NASDAQ: NEOG) has launched the Prozap Protectus Pour-On Insecticide – IGR, a new insect control product for beef cattle. This ready-to-use formula employs a triple-active approach, combining an insect growth regulator (IGR), adulticide, and a synergist to effectively target lice and various fly species. It is designed for easy application and provides season-long control with just one treatment. The product contains 3% diflubenzuron, 2.5% piperonyl butoxide, and 0.5% lambda-cyhalothrin, offering beef producers a more efficient and time-saving solution for insect management.

Neogen Corporation (NEOG) reported third-quarter revenues of $128.2 million, marking a 10% year-over-year increase, with year-to-date revenues up 14%. Net income for the quarter was $5.4 million, adversely affected by $10.6 million in costs related to the merger with 3M's Food Safety business. Gross margins decreased to 44.8%, impacted by rising raw material costs and a shift toward lower-margin products. Both Food Safety and Animal Safety segments experienced revenue growth, while international revenues rose 10%, though China saw a 17% decline due to COVID-19 restrictions.

NEOGEN Corporation (NASDAQ: NEOG) has launched a ready-to-use formulation of its Synergize® disinfectant, enhancing its biosecurity product line. This new formulation simplifies application for users, requiring no mixing and reducing the need for personal protective equipment. The disinfectant effectively eliminates a range of pathogens, including those responsible for avian influenza and COVID-19. NEOGEN aims to streamline processes and reduce costs for producers in animal agriculture, particularly amid high turnover rates and stringent safety requirements.

NEOGEN Corporation has introduced the K-Blue Luminescent substrate, enhancing its K-Blue product line, which now offers a high-sensitivity, two-component solution for laboratories. This substrate achieves excellent light emission at 430 nanometers and maintains a low background, making it suitable for various HRP concentrations. It complies with strict regulatory standards and is manufactured under an ISO 9001 quality system, ensuring reliable results. NEOGEN continues its commitment to providing high-quality testing solutions for food and animal safety.

Neogen Corporation (NASDAQ: NEOG) reported second-quarter fiscal 2022 results with revenues of $130.5 million, a 13% increase compared to the previous year. Notable growth in their Food Safety and Animal Safety segments contributed to this success. However, net income fell to $10.8 million, down 31.8% year-over-year, largely due to $9.3 million in professional fees related to the acquisition of 3M's Food Safety business. Operating expenses rose 42% year-over-year, prompting concerns regarding ongoing costs as they prepare for the integration of the acquired business.