Neogenomics

After six straight months of gains, the index saw a sharp drop in October that even positive earnings news could not stave off.

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.

Premier is a healthcare group purchasing organization representing about 4,000 hospitals and 165,000 other providers throughout the US.

Proceeds from the offering, expected to close on or about Aug. 14, could be used to fund acquisitions, to repay existing debts, or for working capital.

Proceeds from the offering could be used to fund acquisitions, to repay existing debts, or for working capital.

The firm said that its average revenue per clinical genetic test decreased by almost 4 percent to $318, primarily due to changes in Medicare reimbursement and regulation.

NeoGenomics has now redeemed 100 percent of the $110 million preferred stock issues in conjunction with the Clarient acquisition, at a cost of $105 million.

The companies will jointly offer pathology and molecular testing services to PPD's pharmaceutical and biotechnology customers.

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