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Neogenomics

Test volumes, revenues per test and costs per test improved during the quarter, company executives said.

The 360Dx Index was up 12 percent last month as shares of Accelerate Diagnostics, Veracyte, and Exact Sciences each improved more than 40 percent month over month.

Veracyte was the only company in the 360Dx Index whose stock price rose last month while NantHealth, NeoGenomics, and Accelerate Diagnostics saw sharp declines.

Qiagen will provide IUO tests for NeoGenomics to verify, set up, and run in clinical trials and in anticipation of regulatory approval.

NeoGenomics estimates that the more than 2,000 community oncologists represent a $2.5 billion testing opportunity. Its CEO called the segment a "strategic priority."

Just five of the 28 firms in the 360Dx Index saw their share prices rise last month. Veracyte led the gainers, while Accelerate Dx had the sharpest decline.

The company saw double-digit volume growth in its clinical services division in the quarter, coupled with increased revenue per test.

NeoGenomics will pay $125 million in cash and distribute 1 million shares of its stock to Genoptix, a clinical oncology lab, as part of the deal.

The company will use its NeoType Discovery Panel for the trial. The panel assesses 320 cancer-related genes in solid tumors, hematologic malignancies, and advanced sarcomas.

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