Cancer-focused genetic testing services provider NeoGenomics Inc. (NGNM) comes on our radar after announcing its approval for listing on the NASDAQ Capital Market.
NeoGenomics focuses on cancer genetic diagnostic, prognostic, and predictive testing services. The company primarily performs bone marrow aspirate and peripheral blood specimen sampling for the diagnosis of blood and lymphoid tumors; analysis of solid tumors, such as breast, lung, colon, and bladder cancer; and a Fluorescence In-Situ Hybridization or FISH genetic test for the diagnosis of malignant melanoma.
It also provides various testing services, including cytogenetics testing, which analyzes human chromosomes; FISH testing that focuses on detecting and locating the presence or absence of specific DNA sequences and genes on chromosomes; flow cytometry testing, which is used to identify malignant cell populations; immunohistochemistry testing that identifies cell proteins in a tissue section; and molecular testing, a cancer diagnostic tool focusing on the analysis of DNA and RNA, as well as the structure and function of genes at a molecular level.
The company markets its services under the NeoGenomics name, as well as under the NeoFISH, NeoFlow, MelanoSITE, and DermFISH brand names to pathologists, oncologists, urologists, other clinicians, hospitals, and other clinical laboratories.
In the News...
The company said it has been approved for listing on the NASDAQ Capital Market. NeoGenomics expects to commence trading on the NASDAQ Capital Market on Monday, December 10, 2012 under the ticker symbol "NEO".
Prior to the listing change to NASDAQ, the company's common stock will continue to trade on the OTC Bulletin Board under the current ticker symbol "NGNM".
Douglas VanOort, Chairman and CEO of NeoGenomics, stated, "The transition to the NASDAQ Capital Market is a significant milestone for NeoGenomics and reflects the strong revenue and operating income growth we have achieved over the last several years. We believe this move will increase the visibility and liquidity of our shares in the market, and we are honored to join the long list of prestigious companies already traded on NASDAQ."
Annual Financial Data
For fiscal 2011, the company reported a loss of $1.18 million or $0.03 per share, narrower than the prior year's $3.30 million or $0.09 per share.
Net revenue increased to $43.5 million from $34.4 million generated in the year 2010.
by RTT Staff Writer
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