Labcorp Holdings Inc. - LH STOCK NEWS

Labcorp (NYSE: LH) has expanded its collaboration with Ultima Genomics to advance whole genome sequencing (WGS) applications and oncology testing capabilities. The partnership will utilize Ultima's UG 100™ sequencing solution and ppmSeq™ technology to explore new clinical applications, including molecular residual disease (MRD) detection in early-stage solid tumor cancers.

Labcorp recently introduced Labcorp® Plasma Detect™, a WGS-based circulating tumor DNA MRD solution. Preliminary data suggests that combining Plasma Detect with Ultima's technology could improve sensitivity, specificity, and cost-effectiveness in detecting rare variants at extremely low limits. This collaboration aims to transform oncology testing by increasing efficiency, scalability, and affordability of genetic testing in areas with significant unmet needs.

Labcorp (NYSE: LH), a leading global provider of innovative laboratory services, has announced a quarterly cash dividend of $0.72 per share of common stock. The dividend is set to be paid on September 13, 2024, to stockholders of record as of the close of business on August 29, 2024. This declaration by Labcorp's Board of Directors demonstrates the company's commitment to returning value to its shareholders and reflects confidence in its financial stability and future prospects.

NOWDiagnostics (NOWDx) has raised $22.5 million in Series B financing, led by DigitalDx Ventures, with participation from Labcorp Venture Fund and Kompass Kapital Management. This funding will accelerate the commercialization of at-home diagnostic tests, expand the test pipeline, and support strategic hiring. NOWDx's First To Know® Syphilis OTC test is currently under FDA De Novo review and may become the first rapid at-home syphilis test in the U.S. The company has over 30 diagnostic tests in development and holds more than 75 patents. The new investment underscores confidence in NOWDx's technology, which aims to provide accessible and affordable at-home testing for various conditions.

Labcorp (NYSE: LH) will announce its financial results for the second quarter of 2024 on August 1, 2024, before market opens. The company will host a conference call and webcast at 9 a.m. ET to discuss the results. The earnings press release and financial details will be available on the Labcorp Investor Relations website. Participants can register for the call to receive dial-in numbers and a unique PIN for access. A replay of the webcast will be available approximately two hours after the live event until July 18, 2025.

Labcorp (NYSE: LH) has launched Labcorp Global Trial Connect, a suite of digital solutions to enhance the efficiency of clinical trials. Announced on June 17, 2024, these tools aim to accelerate trial processes at investigator sites by simplifying workflows, improving patient experiences, and aiding biopharma sponsors. Key features include site enablement resources to identify study opportunities and enhance diversity, supply readiness support to prevent delays, and workflow facilitation for better data integration and error reduction. Available to current Labcorp Central Laboratory clients, these solutions promise to speed up study initiation and maintain momentum.

Labcorp announced new strategic service offerings in its precision oncology portfolio on June 3, 2024. These enhancements include 'Labcorp Tissue Complete' and the expansion of the 'OmniSeq INSIGHT' liquid biopsy service. Labcorp Tissue Complete, utilizing the FDA-cleared PGDx elio™ assay, is now available in Geneva and Shanghai to support global clinical trials, aiming to standardize biomarker-directed patient testing. Additionally, OmniSeq INSIGHT now includes circulating tumor DNA (ctDNA) profiling, complementing Labcorp's CGP services by evaluating key biomarkers from blood and tissue specimens. These developments aim to streamline oncology clinical trial access, broaden patient populations, and improve logistical efficiencies.

Labcorp (NYSE: LH) will present multiple abstracts at the 2024 ASCO Annual Meeting from May 31 to June 4 in Chicago, focusing on precision oncology diagnostics for triple-negative breast cancer (TNBC), liquid biopsy, and machine learning for tumor profiling. Key studies include:

1. VEGF-A and immune checkpoint interaction in TNBC, suggesting mechanisms of immune evasion and tumor progression.

2. Novel HLA-Ilo/HLA-IIhi phenotype in TNBC, indicating immune escape markers.

3. A machine learning model for predicting tumor microsatellite instability (MSI) using multi-omics biomarkers.

4. Analytical validation of the Labcorp® Plasma Complete™ test for comprehensive genomic profiling in solid tumors, demonstrating high specificity, accuracy, and sensitivity.

These studies underline Labcorp's commitment to advancing precision oncology and improving patient outcomes through innovative diagnostics and therapeutic strategies.

Labcorp (NYSE: LH), a global leader in laboratory services, will have members of its executive management team present at the 44th Annual William Blair Growth Stock Conference on June 4 at 2:00 p.m. CT. The company aims to discuss its recent innovations and comprehensive service offerings in the lab sector.

Labcorp (NYSE: LH) announced the launch of its first trimester preeclampsia screening test, available for all pregnant individuals between 11 and 14 weeks of gestation to assess the risk of developing preeclampsia before 34 weeks. This test utilizes four early pregnancy biomarkers and boasts a sensitivity of up to 90%, making it more effective than traditional risk assessment methods. Labcorp is now the only laboratory offering preeclampsia risk screening across all pregnancy trimesters in the U.S. This new test builds on Labcorp's previous launches, including an FDA-cleared blood test for severe preeclampsia in later stages of pregnancy.