NeoGenomics, Inc. (OTCBB: NGNM): Cutting Cancer Test Result Turnaround Time In Half

Many Americans are turning to new technologies to learn if they are at risk for cancer, as medical researchers have concluded that the risk of developing certain types of cancer runs in families. New types of genetic tests that simply require a blood sample can help determine if you are predisposed to such cancers as breast cancer, leukemia, lymphoma, bladder cancer, and others. Once armed with the knowledge of whether or not you are predisposed to certain cancers, you can work closely with your doctor to plan for regular screenings and to lower risks by modifying diet or behavior.

“Some kinds of cancer run in families, in genes that are the blueprints of our bodies. Genetic tests look for inherited alterations in genes that may increase your risk for a certain cancer,” says Robert Gasparini, President and Chief Scientific Officer of NeoGenomics Laboratories which specializes in cancer genetics testing.

In the case of breast cancer, for instance, up to ten percent of all breast cancer sufferers have an inherited form of the disease, according to the National Cancer Institute.

“But having an inherited mutation in a gene that predisposes you to a cancer doesn’t necessarily mean you will develop that cancer,” stresses Gasparini.

Indeed, a number of medical experts believe many cancers require patients to have a predisposition – such as an inherited genetic mutation – and then a trigger mechanism must come into play for cancer to develop. Triggers can include poor diet, smoking, drinking in excess, or even such factors as where you live, with some research indicating that living in polluted areas, near high power lines or radiation can trigger cancer.

Learning if you are predisposed to certain types of cancer can help you and your doctor plan for how often you should be screened, what lifestyle modifications you should make, and even can provide you with information about cancer risk for other family members and your children.

“Of course, accurate testing is even more important when a patient already has developed suspicious symptoms. And once symptoms have appeared, speed is critical,” says Gasparini.

Nearly everyone has had this experience: The doctor spots something suspicious and orders additional tests. Now comes the hard part: waiting days or weeks for results that can bring a sigh of relief or massive life upheavals. Each day lost waiting can make a difference in treatment effectiveness and outcome.

Put simply: for many cancers, the faster you are diagnosed and begin treatment the better chance of survival.

This is why you should make sure your doctor is sending your tests to labs with both accurate and fast turnarounds. With this in mind, NeoGenomics has initiated diagnostic services that cut test result turnaround time in half. The company’s labs specialize in genetic and molecular testing that combines advanced equipment with innovative analytic algorithms that return test results to the doctor faster.

“Turnaround time is the single most important thing when a doctor orders a test for a patient who has symptoms,” Gasparini emphasizes.

Company Overview
NeoGenomics, Inc. is a high-complexity, clinical laboratory that specializes in cancer genetics diagnostic testing, the fastest growing segment of the laboratory industry.  The company services oncologists, pathologists, and hospitals throughout the United States and offers four primary types of testing services:  FISH testing (Fluorescence in situ Hybridization), which analyzes abnormalities at the gene level; cytogenetics testing, which analyzes human chromosomes; flow cytometry testing, which analyzes clusters of differentiation on cell surfaces, and molecular testing, which analyzes abnormalities in DNA. NeoGenomics state-of-the-art genetic testing is provided at three facilities in Ft. Myers, Florida; Nashville, Tennessee; and Irvine, California.   Each of NeoGenomics’ laboratories is fully licensed under the Clinical Laboratories Improvement Act, as amended (CLIA), and is accredited by the College of American Pathology (CAP).  NeoGenomics is competitive through intense client focus, differentiated products and markedly faster turnaround times. 

NeoGenomics Primary Services

1. Cytogenetics testing is the study of the structure of chromosome material:
   • Acute Leukemias, lymphomas, chronic myeloid, and lymphoid disorders are examined cytogenetically in order to establish the exact nature of the acquired genetic change
   • Turnaround time: 3-5 days vs. industry Avg of 7-10 days
2. Fluorescence in situ Hybridization (FISH) testing includes the following:
   • Bone marrow testing for hematological cancers such as leukemia and lymphoma
   • Solid tumor testing such as HER2 for breast cancer, UroVysion for bladder cancer, and cervical cancer testing
   • Lymph node testing
   • Peripheral blood testing
   • FISH Turnaround Times: 24-72 hours vs. industry Avg of 3 – 5 days
3. Flow cytometry testing is a rapid way to measure the characteristics of individual cells:
   • Hematopoietic cells (blood, bone marrow, core biopsies, lymph nodes) are labeled with selective florescent antibodies and quantified according to their antigens
   • Turnaround time is 12-24 hours vs. industry average of 24-72 hours

Competitive Advantages

• Fastest turnaround times in the industry
• Highly focused, after-test support to physicians requesting consultation
• Differentiated products provide significant advantage versus competition.
• Advanced testing algorithms expedite accurate diagnostic and prognostic genetic test results
• Laser focused on addressing the cancer genetics market, the fastest growing segment of the laboratory testing industry

Genetics Testing Market

• Medical testing laboratory market is composed of three primary segments: clinical laboratory testing, anatomic pathology testing, and genetic/molecular testing
• Genetic testing segment is estimated to be growing in excess of 25% per year, key drivers include the following:
  • Cancer is primarily a disease of the elderly and 3-4 million baby boomers/year will turn 60 every year for the next 15 years in the US (6-8 people/minute on average) and one of every four senior citizens is diagnosed with some form of cancer.
  • The discovery of new genes linked to cancer every year is driving rapid development of new tests.
  • Genetic tests are highly accurate (99%+ accurate and the medical community has embraced their efficacy).
  • Genetic tests often allow for earlier diagnoses, which allows for more cost effective treatment options to be explored.
• Total cancer testing market is estimated to be $10 billion to $12 billion nationwide
  • NeoGenomics currently addresses approximately 40-50% of this market, or $4-6 billion