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Thermo Fisher’s Oncomine Dx Express Test Receives FDA Approval

Thermo Fisher Scientific Inc. (NYSE:TMO) is one of the most undervalued large cap stocks to buy according to analysts. On July 3, Thermo Fisher Scientific announced that its Oncomine Dx Express Test, running on the Ion Torrent Genexus Dx Integrated Sequencer, has received approval from the US FDA.

The approval positions the test as an in vitro diagnostic/IVD assay for use as a companion diagnostic (CDx) for Dizal’s ZEGFROVY (sunvozertinib) and general tumor profiling. The FDA approval enhances Thermo Fisher’s precision oncology portfolio by enabling rapid next-gen sequencing/NGS in decentralized clinical settings.

A workstation in a research lab stocked with laboratory products and services.

The Oncomine Dx Express Test is capable of generating essential genomic insights in as little as 24 hours and is specifically intended as a companion diagnostic for ZEGFROVY (sunvozertinib), which is a targeted therapy from Dizal, to identify patients with non-small cell lung cancer//NSCLC harboring EGFR exon 20 insertion mutations. It has been approved for tumor profiling in solid tumors, detecting cancer mutations with evidence of clinical significance across 46 genes.

Thermo Fisher Scientific Inc. (NYSE:TMO) provides life sciences solutions, analytical instruments, specialty diagnostics, laboratory products, and biopharma services internationally.

While we acknowledge the potential of TMO 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 TMO and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

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In fact, Verge argues this company’s supercheap AI technology should concern rivals.

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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

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