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Neogenomics

Clinical test volume and requisitions received each grew about 2 percent year over year, while the average revenue per test fell 3 percent. 

The consortium seeks to accelerate research and clinical diagnostic applications through collaboration with the ultimate goal of improving COVID-19 testing.

Of the 28 companies in the index, 22 firms saw their stock prices increase, while six firms' share prices decreased.

New offerings from the oncology testing company include Inivita's InvisionFirst-Lung test and the NeoLab solid tumor test.

The decline was largely due to decreased testing volumes as a result of the COVID-19 pandemic, although there was improvement in pharma services.

NeoGenomics will offer the Thyroid Profile and the NGS Thyroid Profile plus RET FISH test as part of the program, which is sponsored by Lilly.

Under the agreement, NeoGenomics will also make a $25 million equity investment in Inivata with an option to buy the company outright.

The drugmaker will cover the cost of testing for up to 500 patients in the US with MSI-high colorectal cancer or RAI-refractory differentiated thyroid cancer.

Of the 28 companies in the index, 27 firms saw their stock prices increase, while one firm's share price decreased slightly.

The company said it intends to use the proceeds for general corporate purposes and to repay borrowings under its term loan facility.

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