Investor Relations Careers. George will share some of our recent investments to add capabilities for future growth in a few minutes. Please go ahead. But I would say that we're very encouraged within that kind of environment by what's happening with the volume trends in both the clinical business and the pharma business and we're encouraged by what we're seeing, what we talked about for October and for quarter four. We're not really focused on some of these small regional tuck-in sort of acquisitions, we're spending more time in pharma and informatics, but we do think we're perhaps taking share for some of these smaller labs. Tejas Savant -- Morgan Stanley -- Analyst. To-date, we haven't done a lot in terms of supporting basic clinical research, but we do think that is an opportunity as well. 1 30. So we're seeing some good momentum there with more and more access as we went through quarter three into October. Investor Relations Doug Brown Chief Strategy and Corporate Development Officer T: 239.768.0600 x2539 M: 704.236.2064 [email protected]
, Charlie Eidson Manager of Investor Relations and Manager of Strategy and Corporate Development T: 239.768.0600 x2726 M: 952.221.8816 [email protected]
, Transfer Agent Standard Registrar & Transfer Company 12528 South 1840 East Draper, UT 84020 T: (801) 571-8844, Contact Us | Careers | Licensing | Terms | Privacy, NeoLAB™ Liquid Biopsy for Hematologic Diseases, NeoGenomics To Virtually Participate In Fireside Chat At The Stephens Annual Investment Conference 2020, Stephens Annual Investment Conference 2020. We are currently validating a new RNA-based fusion assay for solid tumors, employing state-of-the-art technology, which we believe will be superior to DNA-based assays. In terms of your second question about gaining customers, Rob said access from some of our sales people to some of our customers is still somewhat constrained in the oncology practices, although that's loosened up recently. So maybe just confirm that and then help me think about, I know as we look at other places outside of testing and outside of oncology, so as you're talking about utilization kind of in that 90%, 95% range in a lot of ways, but that last leg seems to be the hardest part that's not coming back. Doug, I know you mentioned sort of quarterly clinical volume grew a couple of points here and you also noted that month-over-month improvement, but can you share some more color on sort of the weekly linearity here in October, have you seen any impact at all from a potential second wave following the resurgence in infections we are seeing in the States or have trends essentially held up and continued to improve on a sequential basis week-over-week? As many of you know, Doug joined NeoGenomics in February as our Chief Strategy Officer and has recently also become responsible for Investor Relations. You mentioned terrific turnaround earlier and I wanted to follow up on that. We try to be transparent about what's happening in our business. The playback conference ID number is 37902. Okay, that's helpful, and then just one more. Yeah, so I think that the margin that you've seen over the last couple quarters was pretty indicative of what you would expect going forward. NeoGenomics (NEO) came out with quarterly earnings of $0.10 per share, beating the Zacks Consensus Estimate of $0.07 per share. About NeoGenomics, Inc. NeoGenomics, Inc. specializes in cancer genetic testing and information services. We also believe that our pharma business is stronger than it has ever been and we are well positioned to capitalize on a robust environment for oncology therapy development. And I think if you look at benchmarks like ACOA's[Phonetic] metrics of the number of PCR tests performed by major commercial labs, it's really not increasing as much as the more rapid tests that are being offered throughout the country. Please go ahead, Mr. Cooper. It's difficult for us to gauge that, there are a lot of different kinds of metrics out there. Our strong competitive position as the leading somatic oncology testing company in the country puts us very much on the industry radar as a strategic partner or buyer of strategic assets. Okay, great. Find the latest Earnings Report Date for NeoGenomics, Inc. Common Stock (NEO) at Nasdaq.com. Sure. But we are certainly moving into the range of double-digit growth and we hope that that will move more firmly into that range. COVID-19. Yeah, thanks for the question, Puneet. Okay, and thanks for the margin comments too. So we're looking forward to improved margins in those areas. Our people have gotten to be pretty darn good about gaining customers without going to trade shows and without actually visiting them. The Singapore lab was opened in conjunction with our strategic alliance partner, PPD. Good morning, everyone. Yeah. But we are really focused, not at this time in early detection, but really on diagnosis therapy selection, I think we'll move into minimal residual disease kinds of testing and that's the sweet spot for NeoGenomics at the present time. So in some cases, we already got the relationship and that helps us even with things like liquid biopsy. Along with increasing our global laboratory footprint, we have been fortunate enough to identify and add incredible sales and management talent in Europe and Asia-Pac that are proving instrumental to our growth strategy. I will say this, that it appears that our hospital clients and our oncology clients have learned to sort of deal with an environment in which we're handling COVID. What is the goal I guess as far as gross margins for Pharma Services, especially considering the implications of the informatics business, I assume that that's a higher revenue or a higher gross margin revenue stream? Finally, we soon hope to be developing a rapid AML NGS-based assay as well as an NGS-based MRD assay for AML. Good morning, everyone. In the clinical business, it's also been sort of an access issue, because patients didn't really want to really venture out to see their physician and we know it's been well publicized that many hospitals and oncology practices had reduced hours and that sort of thing, but we don't see that anymore. So that's where we are at the present time. That's great. Okay, thanks, Doug. Not only to kind of pace the recovery of the broader market, but Neo was also taking share before the pandemic. And even if the approval sort of lags, the FDA approval, we can go out with an LDC[Phonetic] in the short run, while they're working on sort of this FDA approval. The webcast may be accessed under the Investor Relations section of our website at www.neogenomics.com. And earlier this month we announced plans to expand our partnership and open a lab in Suzhou, China, which will add capabilities to service Greater China-based clinical trials. Overall, what's your expectation for improvement for NGS I mean, AUP longer term here and what sort of -- what is the -- where could that potentially reach to and what is the pace of that sort of improvement, if you can walk through that either Doug or Kathryn? So I think the trends that we're seeing and as I said, Tejas, we're optimistic that we're going to continue to see the same kind of growth trends that we've been recently experiencing and October has been relatively strong. Next, we go to Brian Weinstein with William Blair. So just any thoughts on what it takes or what that might look like as we continue through the fourth quarter and 2021 would be great. Next-generation sequencing revenue currently represents nearly 20% of our total clinical division revenue. A replay of … Yeah, we're going to ask Rob to try to add some color to that one, David. Okay, operator, I think we're going to wrap it up. Encouragingly, we gained significant momentum in our core oncology business throughout the quarter. Got it. Aside from these strategic investment areas I have outlined today, I can assure you that my role as Chief Strategy Officer keeps me very active in assessing inorganic opportunities for growth at NeoGenomics. Hey, thanks. We've already built a much stronger marketing team and have been developing a number of exciting marketing initiatives. Overall, we believe that the strategic pharma investments that we have made in recent years have been the right ones. Please go ahead. This compares to earnings of … How much is just sort of procedural versus, hey, we got some mix and some volume and overhead of [Technical Issues]. NeoGenomics is a cancer reference laboratory that provides cancer testing and partnership programs to pathologists and oncologists. In addition to exploring external partnership opportunities, including our collaboration with Inivata, we continue to invest in our own internal research and development activities. Hi, morning. Precision Medicine during this Crisis. Kathryn B. McKenzie-- Chief Financial Officer. As with any integration, we had to transition this business from platforms utilized by Human Longevity companywide to the NeoGenomics infrastructure and platforms. Hope you're all doing well. Test volume growth also improved for this product line as the quarter progressed. I will now turn the call back over to Doug VanOort. In the Pharma Services segment, the rebound we experienced in quarter three was driven by a momentum shift and strengthening as clinical trial activity began to resume. I'd like to recognize the approximately 1,680 NeoGenomics team members around the world for their dedication and commitment to our company and to building a world-class oncology diagnostics program. But we've seen that start to open up more and more recently, and then some of those geographies that have remained a little bit tighter have loosened a little bit more recently. At this point, we would like to open up the call for questions. Kathryn B. McKenzie-- Chief Financial Officer. Just a quick question to start here. Clinical division revenues increased 17% year-over-year, boosted significantly by the contribution from COVID-19 PCR testing. Thank you, Doug, and good morning. DSOs decreased 16 days sequentially to 76 days. Let's conquer your financial goals together...faster. Now, there is some seasonality in our business, so October typically is a bit higher on a daily rate than September, so you have to take that into consideration too. And you're right, informatics ought to come in at higher gross margins as we go forward. Next-generation sequencing test volume growth was particularly strong in quarter three, growing faster than overall clinical volume. The promising recovery in our core oncology business along with a significant contribution from COVID-19 PCR testing significantly improved profitability. Learn more. Well, thank you, Kathryn. The web-cast may be accessed under the Investor Relations section of our website at www.neogenomics.com. These pharma contracts included a wide range of our products and services from whole exome sequencing to informatics and covering geographic locations from the U.S. to Europe to Singapore and China. Track . So in Pharma Services, we have a terrific pipeline of companion diagnostic projects, I think it's something like 40 different projects that we're working on and the list keeps growing, we have a lot of interest in that. We've got another dynamic frankly and that's that we're doing, I think, a better job of collecting for the work that we do and that impacts AUP also. Maybe a bigger picture question on having a strategy in both Clinical Services and Pharma Services, I think companion diagnostics represents maybe a key synergy there. We expect this business segment to demonstrate faster growth rates and to represent an even greater percentage of total core oncology revenue in the fourth quarter. What we're seeing despite resurgence and unemployment continuing at levels that they are at is that our business is recovering. I would say that the environment continues to be challenging, the -- our customer behavior has been disrupted somewhat, supply chains are -- been disrupted, productivity is still not what it could be because the lot of precautions we've put in place with our workforce. Stock Advisor launched in February of 2002. 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