The revenue growth was driven by clinical genetic testing volume, which benefitted from the inclusion of the 2015 acquisition of Clarient.
The investment bank said NeoGenomics and its clients are likely to benefit from a product portfolio expanded by the acquisition of Clarient.
The company's Q2 net loss attributable to common stockholders widened to $5.2 million from essentially break even a year ago.
The company's net loss in the quarter grew nearly eightfold, primarily due to the impact of preferred dividends and stock tied to the acquisition of Clarient.
Excluding acquisitions PathLogic and Clarient, base test volume grew 25 percent in the quarter amid increases in all product lines across all regions.
The cancer genetics testing provider acquired its new business unit from GE Healthcare.
Following Covance's acquisition by LabCorp, NeoGenomics will no longer be an exclusive testing services partner but will receive a $2 million payment.
By buying Clarient, NeoGenomics hopes to move closer to its goal of becoming America's top cancer genetic testing lab.
NeoGenomics and GE Healthcare will also collaborate on a bioinformatics initiative for personalized oncology.
NeoGenomics said it is the first specialized oncology reference laboratory to be a preferred in-network lab option for all Premier members.
In Science this week: genetic analysis of pollutant-tolerant fish, and more.
Researchers have found a rare carbapenem resistance gene on a US pig farm, NBC News reports.
New York officials are considering the use of a familial DNA search to get a lead on a suspect in the strangulation death of a runner.
NIH Director Francis Collins has selected a retired Army major general and cardiologist for the CEO spot at the agency's embattled Clinical Center.