Neogenomics Inc Stock Price, News & Analysis

NeoGenomics (NASDAQ:NEO) announced that CEO Chris Smith will retire effective April 1, 2025, with board member Tony Zook named as his successor. Under Smith's leadership since August 2022, the company achieved eight consecutive quarters of double-digit revenue growth and improved from negative $48 million Adjusted EBITDA in 2022 to an expected positive $37-40 million in 2024.

The company reaffirmed its 2024 financial guidance, projecting consolidated revenue between $655-667 million, net loss of $(81)-$(78) million, and Adjusted EBITDA of $37-40 million. During Smith's tenure, NeoGenomics served more than 1.5 million cancer patients and implemented a patient and customer-centric strategy.

Incoming CEO Tony Zook brings extensive healthcare experience, including his role as Executive Vice President of Global Commercial Operations at AstraZeneca, where he managed over $30 billion in revenues. Smith will remain as an advisor during the transition period.

NeoGenomics (NASDAQ: NEO), a leading oncology testing services company, has announced its participation in the 43rd Annual J.P. Morgan Healthcare Conference in San Francisco. CEO Chris Smith will deliver a presentation with a Q&A session on Wednesday, January 15, at 1:30 p.m. PT/4:30 p.m. ET. The event will be accessible through a live webcast, with a replay available on the company's Investor Relations website at ir.neogenomics.com.

NeoGenomics (NASDAQ: NEO) published a study in ESMO Open demonstrating the effectiveness of circulating tumor DNA (ctDNA) in monitoring molecular residual disease (MRD) for high-risk melanoma patients. The research, conducted with Princess Margaret Hospital, analyzed 276 plasma samples from 66 melanoma patients using NeoGenomics' RaDaR® sequencing assay.

The study revealed that ctDNA detection post-surgery can identify patients with worse prognosis and enable earlier detection of disease recurrence. Notably, the research successfully identified ctDNA in patients lacking BRAF and NRAS mutations, suggesting broader applicability compared to earlier studies. The findings have led to the development of the CLEAR-Me trial for detecting and clearing MRD in high-risk melanoma patients.

NeoGenomics (NASDAQ: NEO) will present significant research on hematologic malignancies at the 2024 American Society of Hematology (ASH) Annual Meeting in San Diego, December 7-10. The company will showcase findings on CNS lymphoma, myeloid malignancies, and gene fusions in acute myeloid leukemia.

The presentation includes a poster on neuronal-glial and immune microenvironment signatures in primary CNS lymphoma, scheduled for December 9. Additionally, two abstracts were published in the Blood supplement: one comparing genetic insights into myeloid malignancies across NCCN Guidelines, WHO Classification, and ICC System, and another studying gene fusion prevalence in 2,958 AML patients using FISH and NGS testing.

The company will also feature its hematological oncology solutions, including COMPASS, AML Express, and AML MRD Flow Panel at booth #2347.

ConcertAI and NeoGenomics (NASDAQ: NEO) have announced a joint software-as-a-service solution called CTO-H for hematological malignancies research. The solution provides the largest reference dataset ever created for hematological malignancies, featuring data from over 370,000 patient lives with 7-11 years of surveillance and comprehensive biomarker information.

The collaboration aims to address challenges in clinical trial design and execution in hematology research. CTO-H will be deployed as a SaaS solution within ConcertAI's CARAai™ cloud, with NeoGenomics providing specialized biomarker testing interpretation services. The solution will be available for pre-release evaluation immediately, with general availability scheduled for January 17, 2025.

NeoGenomics (NASDAQ: NEO) will present four abstracts at the AMP 2024 Annual Meeting & Expo in Vancouver, showcasing advancements in cancer diagnostics through ctDNA and next-generation sequencing (NGS). The presentations include research on: the G4 sequencing platform for gene fusion detection, TSO500 ctDNA v2 assay performance, enhanced workflow for Neo Comprehensive™ tumor profiling, and HPV subtyping using whole transcriptome sequencing.

The company will also host a workshop on November 20 focusing on comprehensive genomic profiling for myeloid neoplasms. These presentations demonstrate NeoGenomics' commitment to improving cancer care through precision medicine and advanced testing methodologies.

NeoGenomics (NASDAQ: NEO) has appointed Felicia Williams to its Board of Directors, effective November 1, 2024. Williams, former interim CFO of Macy's and Fellow for CEO Action for Racial Equality, brings over 35 years of experience in finance, accounting, audit, and enterprise risk management from multinational corporations including Macy's, The Coca-Cola Company, and Bristol Myers-Squibb. She will serve on the Audit and Finance and Nominating and Corporate Governance Committees. Williams currently serves on the Board of Directors of Paycom and Anywhere Real Estate.

NeoGenomics (NASDAQ: NEO), a leading oncology testing services company, has announced its participation in the Piper Sandler 36th Annual Healthcare Conference. The company's management team will engage in a fireside chat on Thursday, December 5, 2024, at 9:30 a.m. ET in New York City. The presentation will be available via live webcast, with a replay accessible through the company's Investor Relations website section at ir.neogenomics.com.

NeoGenomics (NEO) reported strong Q3 2024 results with consolidated revenue increasing 10% to $168 million. Clinical Services revenue grew 14% to $146 million, while Advanced Diagnostics revenue decreased 10% to $22 million. The company achieved a 305% increase in Adjusted EBITDA to $13 million, marking its fifth consecutive quarter of positive Adjusted EBITDA. Net loss decreased 4% to $18 million. Based on strong performance, NeoGenomics raised its full-year 2024 Adjusted EBITDA guidance to $37-$40 million. Clinical test volume increased 9% year-over-year, with average revenue per test rising 5% to $463.