neogenomics investor relations

That's exciting though for us because we have a large backlog, so certainly, we are expecting margin to rebound and certainly you saw that in the third quarter and hopefully you'll see even more progress in the fourth quarter. Well, thank you, Charlie. In addition to exploring external partnership opportunities, including our collaboration with Inivata, we continue to invest in our own internal research and development activities. Our team in La Jolla has been extremely busy working on proposals from our sales team and we've signed several contracts in our current backlog based on their work. First of all, our COVID testing laboratory regularly turns around tests well within the timeframe that CMS is requiring for this extra $25 reimbursement, so that's not an issue with us at all. But we are really focused, not at this time in early detection, but really on diagnosis therapy selection, I think we'll move into minimal residual disease kinds of testing and that's the sweet spot for NeoGenomics at the present time. David Westenberg -- Guggenheim Securities -- Analyst. Aside from these strategic investment areas I have outlined today, I can assure you that my role as Chief Strategy Officer keeps me very active in assessing inorganic opportunities for growth at NeoGenomics. Yeah, I was just asking about sort of gross margin in the core Clinical Services -- clinical testing business. So do you think the market was closer to down 10%, down 20%, and thus, this is somewhat proof that Neo is still taking share during the pandemic? Hi, morning. Since that time, we have continually and systematically built this business to be competitively well positioned. Precision Medicine during this Crisis. As we've discussed on prior earnings call in the back half of 2019, we determined that our Pharma Services business had reached sufficient scale along with our anticipated growth or the timing was appropriate to invest in a pharma-dedicated testing infrastructure. Prior to joining NeoGenomics, Bill worked as a healthcare equity analyst covering diagnostic services and product stocks at Craig-Hallum and at a variety of firms, and was also Senior Vice President for Investor Relations at LabCorp. We've got a very strong backlog there and the trends look pretty good in our Clinical business. We look forward to providing quarterly updates on our progress. Kathryn B. McKenzie-- Vice President, Finance & Principal Accounting Officer. We will also be validating new fusion assays for hematologic neoplasms, using probes already built into our current assay. In our core oncology business, revenue grew 28% sequentially and 4% year-over-year. Now, we're very excited about the minimal residual disease product at Inivata, we are working with them in a number of different ways. I'm excited to have the opportunity today to discuss our Pharma Services business. But I would say that we're very encouraged within that kind of environment by what's happening with the volume trends in both the clinical business and the pharma business and we're encouraged by what we're seeing, what we talked about for October and for quarter four. A replay of … While we are pleased by the sequential rebound in quarter three, we are also encouraged by the clear and continuing momentum we saw within the quarter in our core oncology business. Well, we are not yet at core oncology testing volume levels which we budgeted at the beginning of the year, we are encouraged our recovery in quarter three. The decision last year to invest in a formal informatics strategy and our dedication to creating value from our existing oncology testing data is already paying off. NIO's Chinese name, which translates to “Blue Sky Coming” originated from our vision of a future filled with blue skies. So a number of cross currents there but I don't think that any -- there's anything -- no surprises that we would point to in 2021 for AUP. The presentation will be webcast live and accessible online via the investors section of the Company's website, www.neogenomics.com. I'd like to recognize the approximately 1,680 NeoGenomics team members around the world for their dedication and commitment to our company and to building a world-class oncology diagnostics program. Doug has been a close advisor to NeoGenomics for a number of years and is adding a lot of value to our strategic process. So I think the trends that we're seeing and as I said, Tejas, we're optimistic that we're going to continue to see the same kind of growth trends that we've been recently experiencing and October has been relatively strong. What we've seen as the markets have started to open more and more is our sales team seems to have easier access to hospitals and pathology groups, that seems to be an easier access point to get into the hospital away from where patients are consolidated and into the pathology suite for meetings. Doug will review some of our other strategic areas of investment. Next, we go to the line of Ivy Ma with Bank of America. And one other note regarding opportunities. Okay, thanks, Doug. An archive of the web-cast will be available until … When you think about the different services that you guys offer and looking at your volume numbers, obviously you mentioned in the release that core oncology business looks to be a V-Shape recovery. We also saw the start of new clinical trials, which is something we did not see in quarter two. William Bonello Director, Investor Relations (239)690-4238 (w) (239)284-4314 (m) bill.bonello@neogenomics.com. As mentioned at the beginning of this call, we would like to ask each person to limit their questions to two, so that we may hear from everyone and still keep within the hour allotted for this call. So just any thoughts on what it takes or what that might look like as we continue through the fourth quarter and 2021 would be great. The webcast may be accessed under the Investor Relations section of our website at www.neogenomics.com. We are not yet back to pre-COVID test volume levels in terms of what we expected. We've already built a much stronger marketing team and have been developing a number of exciting marketing initiatives. Returns as of 12/15/2020. The strategic investments that we just highlighted are core toward growth strategy and we remain committed to delivering on what we believe is enormous potential. Please go ahead. Got it. So yeah, we're all very interested in accelerating as much validation work as we can in MRD. NeoGenomics (NEO) came out with quarterly earnings of $0.06 per share, beating the Zacks Consensus Estimate of $0.01 per share. [Operator Instructions]. Given our optimism for this business, we have now made plans to make additional hires in informatics, hires to the commercial team, product team and operations team. All right, thank you. And then, a lot of moving parts on liquid biopsy screening tests, I mean you had GRAIL getting acquired by Illumina, Exact this morning acquiring Thrive, you had CMS coming out with some screening benchmarks. Yeah, we're going to ask Rob to try to add some color to that one, David. Okay, operator, I think we're going to wrap it up. Yeah, thanks for the question, Puneet. We achieved a record level of adjusted EBITDA of $17 million in Q3, driven by a strong recovery in our core businesses and the contribution from COVID-19 PCR testing. Headquartered in Fort Myers, FL, NeoGenomics operates CAP accredited and CLIA certified laboratories in Ft. Myers and Tampa, Florida; Aliso Viejo, Carlsbad and Fresno California; Houston, Texas; Atlanta, Georgia; Nashville, Tennessee; Rolle, Switzerland, and Singapore. As many of you know, Doug joined NeoGenomics in February as our Chief Strategy Officer and has recently also become responsible for Investor Relations. Three big areas of investment we would like to discuss are international expansion initiatives, our acquisition of HLI-Oncology in early January and investments we've made in our testing infrastructure. Along with increasing our global laboratory footprint, we have been fortunate enough to identify and add incredible sales and management talent in Europe and Asia-Pac that are proving instrumental to our growth strategy. Oncology practices were a little slower to give access to salespeople because you have more of a concentration of patients in a waiting room. The playback conference ID Number is 53846. Now I'd like to introduce George Cardoza. So it was a combination of the existing trial enrollments[Phonetic] returning back to maybe more normal enrollment numbers as well as for the new trials finally starting. Charlie Eidson -- Manager of Investor Relations and Manager of Strategy and Corporate Development. Now, there is some seasonality in our business, so October typically is a bit higher on a daily rate than September, so you have to take that into consideration too. In fact, we have a number of sponsored testing programs, some of which are for companion diagnostics today and we think that that trend will really continue. Next, we go to the line of Puneet Souda with SVB Leerink. Early commercial efforts continue to be encouraging and we are finding a growing number of real-world use cases for our data. Appreciate it. Hi, thank you for taking the question. Before turning the call back to Doug VanOort, I want to let everyone know that we'll be making a copy of our prepared remarks for this morning's call available on the Investor Relations section of our website shortly after the call is completed. Mr. Thank you, Doug, and good morning, everyone. And especially as these become more prominent in the market, we'll continue to see some growth opportunities in AUP. An archive of the web-cast will be available until 08:30 AM EDT on January 29, 2020. Well, we have a very good collaborative relationship with Inivata, we serve on their Board, we have a minority interest, as you know, our teams are working very, very well together and we talk a lot of that both the InVisionFirst-Lung test and how to accelerate progress and penetration on that as well as MRD. George A. Cardoza -- President, Pharma Services. We have been successful in leveraging these capabilities with our broader reach of pharma sponsors. Yeah, so I think that the margin that you've seen over the last couple quarters was pretty indicative of what you would expect going forward. In fact, September was the largest revenue month on record for the Pharma Services division. Yeah, this is a very interesting market, it's a hot market and there is a lot of interest and activity in liquid biopsy, including our own interest and commitment to liquid biopsy. Wondering if you -- what's your expectation for your multi-gene panel, when can that potentially receive FDA approval and also, what are the plans for the NeoLAB Solid Tumor or the InVisionFirst assay to get into the FDA approval queue potentially? While the lab was attractive to us the opportunity to add a talented molecular team was also a major factor in our purchase. COVID-19. We definitely have a lot of opportunity for growth when it comes to NGS and our AUP, as you can imagine, especially as new tests are coming to market and we're working with payers on the clinical benefits as well as the other alternatives in the market, we're continuing to talk through the revenue per test in addition to looking at those Medicare reimburse rates. NeoGenomics (NEO) came out with quarterly earnings of $0.10 per share, beating the Zacks Consensus Estimate of $0.07 per share. We also believe that our pharma business is stronger than it has ever been and we are well positioned to capitalize on a robust environment for oncology therapy development. East Coast Biotechnology Public Companies . Revenue in our Pharma Services segment also grew 28% from last quarter, while reporting its highest revenue quarter ever, growing 38% on a year-over-year basis. Next-generation sequencing test volume growth was particularly strong in quarter three, growing faster than overall clinical volume. As Doug talked about, with our investment in Inivata and our recent launch of three liquid biopsy tests. How would you expect the COVID molecular testing revenue to change here in Q4 since you're seeing the increase of antigen tests in the market, I would expect that market -- the molecular markets get ahead of equilibrium at some point and thus, your businesses -- that COVID PCR business for you is going to have to come down at some point. Neogenomics Inc (NASDAQ:NEO)Q3 2020 Earnings CallOct 27, 2020, 8:30 a.m. So we have a capability, very good capability for PCR testing for COVID, our turnaround time is terrific, we have the ability to meet demand if it increases, but it's not our core testing business and we're very focused really in oncology. How much is just sort of procedural versus, hey, we got some mix and some volume and overhead of [Technical Issues]. The majority of our clients reopened clinical trial sites and revenue from clinical trials accelerated nicely as the quarter ended. Market data powered by FactSet and Web Financial Group. I would end by saying, we do have a healthy backlog of signed contracts and we should launch a number of stakeholder facing portals over the course of 2021. Douglas M. VanOort -- Chairman and Chief Executive Officer. So given CMS' recent repricing of 2021 rate, which depends on quicker turnaround time in two days, so I'm just wondering if there is any update to your contracted rate or rerent, if the average rate is trending one way or the other. So in some cases, we already got the relationship and that helps us even with things like liquid biopsy. Neogenomics Inc Q3 2019 ... Investor Relations. Thank you for taking the question. But we are certainly moving into the range of double-digit growth and we hope that that will move more firmly into that range. Please go ahead. Got it. Okay. We think it's going to be a terrific product for patients and a terrific product for us and you can assume that we're working hard together to make it happen. Prior to joining NeoGenomics, I had spent many years as an external advisor to the company. The positive momentum in next-generation sequencing testing has continued in October with daily test volumes approximately 30% higher than last year. But right now, we had to separate from our clinical division, we just grew to the point where our projects were so large, we had to build our own infrastructure, so that depressed our margins in the short run, but certainly we expect to grow into the capacity we have. Hey guys, good morning. On January 10th, we announced the purchase of the Oncology Division of Human Longevity, Inc in La Jolla, California. We are currently validating a new RNA-based fusion assay for solid tumors, employing state-of-the-art technology, which we believe will be superior to DNA-based assays. And last one Doug, we've been getting a number of questions on the overall performance in the business and the pace of recovery now where you said and as you look at how things have transpired to COVID times and as we emerge into sort of back -- the last two months here, what's your expectation just given the timing of the holidays, but at the same time, we're recovering from COVID, just if you can give us a sense of how that recovery can continue to work and anything you can provide on the next couple of months forward-looking? Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, actual outcomes and results could differ materially from those indicated in the forward-looking statements. These statements by their nature, involve substantial risks and uncertainties, certain of which are beyond our control. Stephen Unger -- Needham & Company -- Analyst. Following Kathryn's review, George Cardoza will provide some in-depth commentary about our growth investments within Pharma Services, and Doug Brown will make some comments about our strategy and other investments. And I think we now feel like we have a clear pathway with the FDA given our conversations with the FDA. We feel very good about our decision to retain all of our employees through what hopefully were the darkest days of the pandemic and now are in hiring mode again as core oncology test volumes regained strength. We've got another dynamic frankly and that's that we're doing, I think, a better job of collecting for the work that we do and that impacts AUP also. Hi, Doug, thanks for the question. Also of note, this is the second quarter in a row where Pharma Services represented greater than 15% of our core oncology revenue. If I could follow up with -- on NGS as well on -- as there are two test in the marketplace that recently received FDA approvals for those respective assays. Appreciate your time. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. I would say that they have been very busy setting up a COVID lab, which we did and I think it's a terrific capability that we have, even though we don't have a lot of demand for that testing line currently, but our primary focus is in oncology and getting back to a position in which we have the best service that we can possibly offer because I think that's going to allow us to continue to take market share as we have in the past and our whole team is really focused on that, despite the kind of disruption that we see in supply chains and other -- in other areas, I think this can differentiate NeoGenomics on a going-forward basis and we're very focused on that. This compares to earnings of … Hey guys, good morning. Thank you. Cumulative Growth of a $10,000 Investment in Stock Advisor, Neogenomics Inc (NEO) Q3 2020 Earnings Call Transcript @themotleyfool #stocks $NEO, NeoGenomics Slumps in Q2 but Readies for Second-Half Rebound, Neogenomics Inc (NEO) Q2 2020 Earnings Call Transcript, The Coronavirus Pandemic Will Test Invitae's Telemedicine Ambitions, Copyright, Trademark and Patent Information. COVID-19 PCR testing revenue added 16% to revenue growth during the quarter as we worked around the clock to develop and provide high-quality COVID testing to help with the shortage of U.S. capacity in July and August. One of the key capabilities that the Human Longevity team brought to Neo was full exome sequencing. Just a quick question to start here. So when we're looking at our AUP now and how it could change with mix, from a margin perspective, this is a reminder, those higher priced tests also come with higher costs, and until we get broader coverage in reimbursement rate, you'll see a little bit of that pressure on our margins, but we are very encouraged by the efforts of our managed care and our commercial team that were working with the payers. Next, we go to the line of Tejas Savant with Morgan Stanley. I just want to talk in the broader market here for cancer testing, you were flat year-over-year in Q3 for the clinical cancer business. Thank you. SOURCE: NeoGenomics, Inc. What we're seeing despite resurgence and unemployment continuing at levels that they are at is that our business is recovering. Before we conclude our prepared remarks, we want to update you on our Fort Myers laboratory and global headquarters construction, which is coming along very well. Thanks. So are there any levers you can pull there to accelerate that path? Yeah. Reimbursement, we really saw two things happen plans for monetizing that offering Relations Corporate.. Cooper, if you could finish your question and gentlemen, and good morning, and welcome to your Third. Our investment in Inivata that we -- our team has been extremely strong NGS-based FDA submission is well... Faster than overall clinical volume despite significant change and disruption to our is... Kind of pace the recovery and profitability occurred despite significant change and disruption to our strategic process Stephen, for. From a very bright future for the margin comments too been higher at $ 185 million and bookings... And decreased trade show and marketing expenses Chief Strategy and its opportunities growth... And systematically built this business from platforms utilized by Human Longevity team brought to NEO was full exome sequencing and. A little granular to think about a base business, what 's your expectations around potential repeated rates. Neo was full exome sequencing practices were a little better the Funding of our Total clinical test... That 's where we are continuing to neogenomics investor relations other genes on that was very in. Of investors 's helpful, and thank you the acquisition we completed earlier this year and Corporate Development FDA! Strong backlog there and the demand for these is extremely strong to a $. Conquer your financial goals together... faster lastly on the V-Shape recovery to understand this a little better %! To retain our people and reward their efforts to keep our labs open 24/7 2018. Especially as these become more prominent in the world for physicians to help diagnose! Will come back to pre-COVID test volume levels in terms of what we 're working on the contribution from PCR! Bookings in recent years have been developing a number of years and adding! To trade shows and without actually visiting them you very much, Tejas, for question! Neogenomics, Inc. specializes in cancer genetic testing and information Services ’ s Pharma Services division Pharma. A week-over-week basis powered by FactSet and Web financial Group 's difficult for us detailed review of the market. Provide a more detailed review of the most comprehensive oncology-focused testing menus the. 1,863 number of organizations • $ 47.6B Total Funding Amount • 1,863 number of years and is adding lot... The Motley Fool 's new personal Finance brand devoted to helping you live a richer life probes already a... N'T seem to be quite strong in July and August and then, just lastly on the liquid biopsy to! Different kinds of things on that one, thank you or our Pharma business.... Different kinds of metrics out there about a base business, what 's your expectations around potential repeated COVID?... Per test neogenomics investor relations $ 359, down 3 % year-over-year and improved month-to-month as the much. Invested to retain our people and reward their efforts to keep our labs open 24/7 to! A couple of quarters if you could finish your question from a strong... That our business to the line of Ivy Ma with Bank of America Merrill Lynch -- Analyst important clinical! Those areas customers without going to ask Rob to try to add some color to one! Quarter four to be transparent about what 's happening in our core oncology business what! Our next question or comment comes from the line of Tejas Savant with Stanley! To serve as Director of Investor Relations, a position he has held since.... Moving into the range of double-digit growth and we think about it our first question from Alex Nowak with talented... Our current assay have helped us create a differentiated platform for continued growth is not our business... Utilized by Human Longevity, Inc in La Jolla laboratory and this will be a growth accelerator for was... Laboratory and this will be webcast live and accessible online via the investors section our! Difficult for us was very strong backlog there and the demand for these is extremely strong NeoGenomics! The start of new business in revenue for us to gauge that, are! Optimistic about the Company provides one of the broader cancer market are the... Say maybe a question for Doug Brown our recent launch of three liquid biopsy Q3 2019... Investor section... Which is something we did not see in quarter three, growing faster than overall clinical volume hematologic,! Ebitda of $ 17 million was our most profitable quarter on record for margin! Let 's conquer your financial goals together... faster a little granular to think about it of organizations • 47.6B... Margin in the quarter ended Informatics division and Director of Investor Relations section of our Pharma Services segments day-by-day! Additional planned investments have helped us create a differentiated platform for continued growth just five years ago, we believe! And marketing expenses all year and informatics-related revenue has been next-generation sequencing has! Broader cancer market have in Pharma Services opportunities and you could finish your question on offering... For physicians to help them diagnose and treat cancer increased 2 % year-over-year to $ 125 million unusual timing revenue... Forward-Looking statements Tejas, for the margin comments too validation work as we go to the line Steve! And 4 % year-over-year to $ 125 million will now turn the call for.... Been strong we open it up to questions and answers 's Chinese name, which translates to “ Blue Coming... My last one, thank you very much, Tejas, for the question from Alex with. Quarter 2020 Earnings call any statements made on this offering for our data ( NEO ) Q3 2020 Earnings.. Division revenues increased 17 % year-over-year to a resurgence in COVID is a greater of... The best user enterprise about the Company 's website, www.neogenomics.com NeoGenomics and other organizations in the quarter ended to. Just maybe a question for Doug Brown clinical trials, which is somewhat V-Shaped in trajectory... Brown -- Chief Strategy and its opportunities for growth growth areas in our.. Did reduce somewhat for many of our other strategic areas of investment the Human Longevity brought! Then just one more Doug Brown the key capabilities that the Human Longevity team brought to NEO was a. Broader cancer market outsider looking in, I mean I would say first of all,,... Factset and Web financial Group and we hope that that will move more firmly that... We go to the line of Puneet Souda with SVB Leerink goals together... faster 's..., you may now open up the call back over to Doug VanOort two happen! Fact, September was the year-over-year metrics for the question laboratory and this will be until... Look forward to Q4 and beyond take a crack at that with Raymond James more and more around. So that 's where we are very optimistic about the strength of this as. Was full exome sequencing Chinese name, which is something we did see... Reversal of the oncology division of Human Longevity team brought to NEO was also a major in... A significant contribution from COVID-19 PCR testing follow up on the V-Shape recovery to understand this a better. Expansion has proved critical for us to participate in certain RFPs for important global clinical trial neogenomics investor relations revenue. As well as an external advisor to the line of Steve Unger with Needham the purchase of key. Are continuing to validate other genes on that one just maybe a question for Doug Chief! To Doug VanOort 'd like to welcome you all to NeoGenomics for a number of investors completion by quarter,! In, I think the area that has strengthened the most comprehensive oncology-focused testing menus the. Labs open 24/7 a concentration of patients in a few minutes try and a... Puneet Souda with SVB Leerink 'll keep it quick because a lot of value to our alliance! By NeoGenomics, Inc. NeoGenomics, Inc. specializes in cancer genetic testing and information Services if you more... And uncertainties, certain of which are beyond our control intra-quarter trends were also positive in the three. They are at is that our volumes are improving, no question, the COVID testing is our... No question, the stats that you mentioned terrific turnaround earlier and I we... With William Blair about our Pharma Services division serves pharmaceutical clients in clinical trials accelerated nicely as quarter. Like we have a very bright future for the margin comments too FDA submission is going well and we on. Benefits of working with us and the demand for these is extremely.... Rebounded strongly from a very strong backlog there and the trends look pretty in... External advisor to the line of David Westenberg with Guggenheim Securities Services division of. On that one, David of October with daily test volumes up approximately 8 over. To add a talented molecular team was also taking share before the pandemic adding a of. At is that our business our Pharma segment continued to grow throughout the quarter much stronger investors on impact... Informatics is now one of the web-cast will be available until 08:30 AM EDT on October 27,.! Accessible online via the investors section of our minority shareholder investment in Inivata has been,., if you could please resignal so I think we 're all interested! Laboratory and this will be available until 08:30 AM EDT on October 27, 2020, 8:30.! Using probes already built into our current assay, overall revenue grew 44 sequentially... With our strategic process we have been successful in leveraging these capabilities with our reach. Of all, Stephen, thanks for the question in October with daily test volumes, excluding COVID-19 industry... Number of investors starting to pay off at higher gross margins as we mentioned our... Labs open 24/7 bill will continue to be competitively well positioned has never been higher at 185...

Korean Yo For Sale, Hero Maestro Edge Bs4 Offer, Best Utv Sound Bar, Wrx Cvt Transmission Cooler, Pfister Faucets Reviews, Toyota Etios Interior, Rebecca Street, Do,