Labcorp releases liquid biopsy for advanced cancer care

BURLINGTON, N.C. - Labcorp (NYSE: LH), a prominent player in Healthcare Providers & Services with a market capitalization of $20.85 billion and annual revenue exceeding $13 billion, has announced the clinical availability of Labcorp Plasma CompleteTM, a liquid biopsy test designed for comprehensive genomic profiling in patients with advanced solid tumors. The test, which utilizes circulating tumor DNA (ctDNA) from a blood draw, is intended to help oncologists tailor personalized treatment plans. According to InvestingPro analysis, Labcorp maintains a strong financial health score of "GOOD," positioning it well for continued innovation in medical diagnostics.

The Labcorp Plasma Complete test can detect genomic alterations across 521 genes, including single nucleotide variants, insertions/deletions, amplifications, translocations, and microsatellite instability high status. This broad spectrum of detectable biomarkers encompasses those associated with FDA-approved therapies and clinical trial eligibility, aiming to provide oncologists with actionable insights for patient care. The company’s strong market position is reflected in its stock performance, trading near its 52-week high of $258.59, with InvestingPro data showing multiple additional bullish indicators available to subscribers.

According to Shakti Ramkissoon, M.D., Ph.D., MBA, vice president and medical lead for oncology at Labcorp, the test delivers comprehensive genomic insights and is available for clinical use, enhancing Labcorp’s oncology portfolio and supporting more personalized patient care.

The test’s clinical reports are supported by robust bioinformatics, making complex genomic data easier to interpret for oncologists. This integration with Labcorp’s existing cancer diagnostic services is designed to simplify provider workflows and inform treatment decisions throughout all stages of cancer care.

Labcorp Plasma Complete has been validated in Labcorp’s CAP-accredited and CLIA-certified laboratory, with rigorous validation studies confirming its clinical accuracy and reliability. The test boasts a high specificity rate of over 99.99% and can identify variant allele frequencies as low as 0.1%, enabling precise detection of tumor-specific biomarkers.

While Labcorp Plasma Complete is now available for clinical patient care, it continues to be used in biopharmaceutical research. The test is a laboratory-developed test (LDT) and, while not cleared or approved by the FDA, has been developed and its performance characteristics determined by Labcorp. Trading at attractive valuations relative to its growth potential, Labcorp represents an interesting case study in healthcare innovation and market opportunity. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 top US stocks including Labcorp.

This announcement is based on a press release statement from Labcorp. For further details on Labcorp Plasma Complete and its applications in oncology, interested parties can visit Labcorp’s dedicated website.

In other recent news, Laboratory Corporation of America (NYSE:LH) reported strong fourth-quarter earnings and revenue results that surpassed expectations, with analysts from Jefferies noting a particularly robust performance despite some temporary margin impacts. Truist Securities and Jefferies both raised their price targets for Labcorp, with Truist setting it at $285 and Jefferies at $290, while maintaining a Buy rating. Evercore ISI also upgraded Labcorp’s stock to "Outperform," citing positive expectations for future earnings and a raised price target to $265. The company’s acquisition of Invitae (OTC:NVTAQ) is progressing well, with analysts projecting it to contribute positively by the second half of 2025.

Additionally, Labcorp expanded its credit facility from $300 million to $700 million, a move that enhances its financial flexibility. This expansion, involving new partnerships with banks such as MUFG Bank Ltd., is part of Labcorp’s strategic capital management. In response to the ongoing H5 bird flu outbreak, Labcorp launched a new H5 bird flu molecular test, developed in collaboration with the CDC, to aid in diagnosing human infections. This initiative underscores Labcorp’s commitment to public health preparedness and enhancing diagnostic capabilities.

These developments reflect Labcorp’s ongoing efforts to strengthen its market position and financial performance, with analysts expressing optimism about the company’s growth prospects and strategic initiatives.

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