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FORT MYERS - NeoGenomics, Inc. (NASDAQ:NEO), a diagnostics company generating annual revenue of $672 million with 10.1% year-over-year growth, has launched NEO PanTracer LBx, a blood-based comprehensive genomic profiling test for advanced solid tumors, the oncology diagnostics company announced in a press release Wednesday.
The new test is designed to provide genomic information when tissue samples are insufficient or unavailable, offering an alternative to traditional tissue biopsies. According to the company, the test analyzes over 500 genes, including MSI and bTMB markers, with results available within seven days.
PanTracer LBx can be ordered as a standalone test, as a backup when tissue testing fails, or alongside tissue analysis. The company states the test supports therapy selection, clinical trial matching, and ongoing monitoring of cancer patients.
"The launch of our liquid biopsy test positions us at the forefront of the precision oncology market," said Tony Zook, Chief Executive Officer of NeoGenomics, in the statement.
The test expands NeoGenomics’ existing portfolio of cancer diagnostic solutions and works with the company’s tissue-based testing options. The firm describes the liquid biopsy market as valued between $3-5 billion. According to InvestingPro analysis, NeoGenomics appears undervalued at its current market capitalization of $676 million, with analysts projecting profitability this year despite recent market challenges.
NeoGenomics operates a network of CAP-accredited and CLIA-certified laboratories throughout the United States and a sample-processing laboratory in the United Kingdom.
The company provides testing services to oncologists, pathologists, hospital systems, academic centers, and pharmaceutical companies, according to the release. With a strong liquidity position reflected in its current ratio of 2.05, NeoGenomics maintains operational stability despite market volatility. InvestingPro offers additional insights through its comprehensive Pro Research Report, featuring detailed analysis of NeoGenomics’ financial health and growth prospects among 1,400+ top US stocks.
In other recent news, NeoGenomics reported its Q2 2025 earnings, revealing an earnings per share (EPS) of $0.03, which exceeded analyst expectations of $0.02. However, the company’s revenue fell short of projections, coming in at $181 million compared to the anticipated $183 million. Following these results, management lowered its full-year 2025 revenue and EBITDA guidance. In light of these developments, BTIG downgraded NeoGenomics from Buy to Neutral, expressing concerns over management credibility and product portfolio alignment. William Blair also downgraded the stock from Outperform to Market Perform, citing the time needed to rebuild investor trust. Additionally, Needham reduced its price target for NeoGenomics to $8.00 from $8.50, maintaining a Buy rating but noting weak guidance. These recent developments reflect ongoing challenges for NeoGenomics as it navigates market expectations and internal strategic adjustments.
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