NeoGenomics (NEO) Targets Opportunity at $5 billion Liquid Biopsy Market

NeoGenomics, Inc. (NASDAQ:NEO) is one of the top 10 medical AI companies to buy according to analysts. On July 30, the company announced the launch of NEO PanTracer LBx, a blood-based comprehensive genomic profiling (CGP) test.

NeoGenomics (NEO) Targets Opportunity at $5 billion Liquid Biopsy Market

Romaset/Shutterstock.com

The launch of PanTracer positions NeoGenomics at the forefront of the precision oncology market. The noninvasive test is designed to support therapy selection as it provides access to biomarker information when tissue samples are insufficient or unavailable. The test can analyze over 500 genes, including MSI and bTMB, to deliver actionable insights.

“As demand grows for faster, less invasive, and more accessible genomic testing, PanTracer LBx expands our addressable market, enhances our clinical portfolio, and opens new revenue streams in both therapy selection, trial matching, and disease monitoring. It’s a strategic milestone that underscores our commitment to sustainable growth and clinical leadership,” said Tony Zook, Chief Executive Officer.

PanTracer LBx will strengthen NeoGenomics’ pan-solid tumor CGP portfolio and position it in the growing $3 to $5 billion liquid biopsy market. It also strengthens its prospects in delivering deep insights to more patients across diverse care settings.

NeoGenomics, Inc. (NASDAQ:NEO) is a cancer diagnostics and pharma services company. It leverages AI in several key areas of oncology testing and diagnostics. It’s also actively involved in developing and implementing AI-powered tools for digital pathology.

While we acknowledge the potential of NEO to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NEO and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Best Farmland and Agriculture Stocks to Buy According to Billionaires and 10 Best Stocks to Buy Amid Gold Rally.

Disclosure: None. This article is originally published at Insider Monkey.