NeoGenomics narrows quarterly loss as revenue climbs 11%

Fort Myers-based NeoGenomics reported a third-quarter net loss of $7.5 million, narrowing from $27.1 million a year earlier, as revenue increased 11% to $209 million. The cancer diagnostics company reported a 13% increase in clinical services revenue to $195 million, driven partly by 29% growth in next-generation sequencing revenue. NeoGenomics raised its full-year revenue forecast to $807 million to $809 million and expects approximately $60 million in adjusted earnings before interest, taxes, depreciation and amortization. President Warren Stone is scheduled to succeed CEO Tony Zook in January, with Zook becoming executive chair.