NeoGenomics elevates Warren Stone to President and COO

FT. MYERS, Fla. - NeoGenomics, Inc. (NASDAQ:NEO), a provider of oncology diagnostic solutions with annual revenue of $660 million and 11.7% year-over-year growth, has promoted Warren Stone to President and Chief Operating Officer, effective April 1, 2025. Stone, who has been serving as the Chief Commercial Officer, will now oversee the company’s lab operations, data solutions division, and enterprise operations functions, in addition to his commercial responsibilities. According to InvestingPro data, the company maintains a solid current ratio of 1.98, indicating strong operational liquidity.

Stone’s promotion comes after a tenure marked by significant contributions to NeoGenomics’ commercial strategy, leading to eight consecutive quarters of double-digit revenue growth for the Clinical division. While the stock has faced challenges, declining 40% year-to-date, InvestingPro analysis shows analysts remain optimistic, with a consensus target price range of $16-26. His experience spans over 25 years in general management and cross-functional commercial roles. Stone’s previous positions include President, Americas at Ortho Clinical Diagnostics, and Senior Vice President at MilliporeSigma.

Melody Harris, the outgoing Chief Operations Officer, will leave NeoGenomics at the end of May. Beth Eastland, Senior Vice President of Enterprise Sales, will support Stone in his new role.

CEO Chris Smith praised Stone’s impact on the company’s growth and commercial organization, expressing gratitude to Harris for her contributions. Incoming CEO Tony Zook anticipates that the alignment of commercial and operations teams under Stone’s leadership will enhance agility and innovation in the company’s portfolio.

NeoGenomics specializes in cancer genetics testing and information services, offering a comprehensive testing menu to support oncology care. The Fort Myers-headquartered company operates a network of CAP-accredited and CLIA-certified laboratories in the US and a CAP-accredited laboratory in the United Kingdom.

The press release also contains forward-looking statements regarding the company’s operational efficiency and growth prospects. These statements are subject to risks and uncertainties, including the company’s ability to improve performance, recruit executive candidates, and implement its business plan, as detailed in filings with the Securities and Exchange Commission.

Investors are advised not to place undue reliance on these forward-looking statements and are encouraged to review the company’s SEC filings for a thorough discussion of risks and uncertainties. The information in this article is based on a press release statement from NeoGenomics, Inc.

In other recent news, NeoGenomics announced the acquisition of Pathline LLC, a New Jersey-based laboratory services firm, which is expected to enhance its presence in the Northeastern United States. This strategic acquisition is anticipated to contribute positively to NeoGenomics’ adjusted EBITDA by 2026, with Pathline bringing in over $21 million in annual revenue. BTIG maintained a Buy rating on NeoGenomics, adjusting the price target to $17.00, highlighting the strategic value of the acquisition despite recent stock price declines following executive changes. Morgan Stanley also revised its price target to $17.00, maintaining an Equalweight rating, citing the company’s promising product pipeline and commercial strategy. Needham adjusted its price target to $18.00, retaining a Buy rating, following NeoGenomics’ Q4 results that showed a revenue shortfall but exceeded EBITDA expectations. The company reported a 15% year-over-year growth in clinical services revenue for Q4 2024, driven by a 9% rise in volume and a 5% increase in pricing. Despite these challenges, NeoGenomics reaffirmed its 2025 revenue guidance, projecting an 11-13% year-over-year increase. Analysts emphasized the importance of NeoGenomics’ next-generation sequencing and minimal residual disease testing as critical factors for future performance.

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