NeoGenomics Announces New RaDaR Technology and Resolution of RaDaR 1.0 Litigation

Rhea-AI Summary

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.

Positive

• Development of a new version of RaDaR® technology
• Resolution of litigation with Natera regarding RaDaR 1.0
• Settlement does not impact adjusted EBITDA guidance or liquidity expectations

Negative

• None.

Insights

Medical Research Analyst

NeoGenomics' announcement of a new RaDaR technology and resolution of litigation with Natera is a significant development in the oncology testing space. The company's ability to clear the feasibility stage with a new version of RaDaR demonstrates continued innovation in liquid biopsy technology for cancer detection and monitoring.

The settlement of the litigation with Natera regarding RaDaR 1.0 removes a potential legal overhang, which is generally positive for investor sentiment. However, the confidential nature of the settlement and its described immaterial impact on financials suggest that it may not significantly alter the company's near-term financial outlook.

Investors should focus on the upcoming business update call on September 24, 2024, which may provide important insights into:

• The capabilities and potential market impact of the new RaDaR technology
• Any changes to the company's product pipeline or commercialization strategy
• Potential partnerships or collaborations for the new technology

While the news is positive, the full impact on NeoGenomics' competitive position and future revenue potential remains to be seen, pending more detailed information from the upcoming call.

Company will host business update call on Sept. 24, 2024, at 8:30 a.m. ET

FT. MYERS, Fla.--(BUSINESS WIRE)-- NeoGenomics, Inc. (NASDAQ: NEO), a leading oncology testing services company, today issued the following statement in response to inquiries:

NeoGenomics has cleared the feasibility stage with a new version of its RaDaR^® technology and has resolved litigation with Natera regarding RaDaR 1.0. The Company will host a business update conference call and webcast on Tuesday, Sept. 24, 2024, beginning at 8:30 a.m. Eastern Time.

The accelerated progress of the new RaDaR technology provided the Company the opportunity to negotiate a resolution with Natera as to RaDaR 1.0. The settlement, while confidential, is not material to the Company’s bottom line and does not impact its adjusted EBITDA guidance range or liquidity expectations.

The live webcast may be accessed by visiting the Investor Relations section of our website at ir.neogenomics.com. The webcast will be archived and available for replay shortly after the conclusion of the call.

To access the live call via telephone, dial (877) 545-0523 (domestic) or (973) 528-0016 (international) at least five minutes prior to the call. The participant access code is 196876.

About NeoGenomics, Inc.

NeoGenomics, Inc. specializes in cancer genetics testing and information services, providing one of the most comprehensive oncology-focused testing menus in the world for physicians to help them diagnose and treat cancer. The Company's Pharma Services Division serves pharmaceutical clients in clinical trials and drug development.

Headquartered in Fort Myers, FL, NeoGenomics operates CAP accredited and CLIA certified laboratories for full-service sample processing in Fort Myers, Florida; Aliso Viejo and San Diego, California; Research Triangle Park, North Carolina; and Houston, Texas; and a CAP accredited full-service, sample-processing laboratory in Cambridge, United Kingdom. NeoGenomics also has several, small, non-processing laboratory locations across the United States for providing analysis services. NeoGenomics serves the needs of pathologists, oncologists, academic centers, hospital systems, pharmaceutical firms, integrated service delivery networks, and managed care organizations throughout the United States, and pharmaceutical firms in Europe and Asia.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240923921828/en/

Investor Contact

Kendra Sweeney

kendra.sweeney@neogenomics.com

Media Contact

Andrea Sampson

asampson@sampsonprgroup.com

Source: NeoGenomics, Inc.

FAQ

What is the latest development in NeoGenomics' (NEO) RaDaR technology?

NeoGenomics has cleared the feasibility stage with a new version of its RaDaR® technology, which led to the resolution of litigation with Natera regarding RaDaR 1.0.

When is NeoGenomics (NEO) hosting its business update conference call?

NeoGenomics is hosting a business update conference call and webcast on Tuesday, September 24, 2024, beginning at 8:30 a.m. Eastern Time.

How does the settlement with Natera affect NeoGenomics' (NEO) financial outlook?

The settlement with Natera is not material to NeoGenomics' bottom line and does not impact its adjusted EBITDA guidance range or liquidity expectations.

How can investors access NeoGenomics' (NEO) business update call on September 24, 2024?

Investors can access the live webcast through the Investor Relations section of NeoGenomics' website or join via telephone by dialing (877) 545-0523 (domestic) or (973) 528-0016 (international) with the access code 196876.