The webcast may be accessed under the Investor Relations section of our website at www.neogenomics.com. NeoGenomics is a cancer reference laboratory that provides cancer testing and partnership programs to pathologists and oncologists. Appreciate it. And then, the unemployment rate seems to be going on for the foreseeable future for a while, could you help us think about how this uncertainties would impact your base volume recovery trend? Those projects span in breadth from helping companies with clinical trials, recruitment or site selection to commercial support, which might be identifying diagnostic trends to figure out where likely patients are for certain therapeutics or to size the market or other commercial support activities. Great, thanks for the color. 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. William Bonello Director, Investor Relations (239)690-4238 (w) (239)284-4314 (m) email@example.com. This conference call may contain forward-looking statements, which represent our current expectations and beliefs about our operations, performance, financial condition and growth opportunity. William Bonello -- President, Informatics Division. But just to kind of drill in maybe a little bit more on what volumes were late October and as you think about it, they don't dramatically change with COVID. So I think the pharma definitely are realizing the benefits of working with us and the demand for these is extremely strong. That's exciting though for us because we have a large backlog, so certainly, we are expecting margin to rebound and certainly you saw that in the third quarter and hopefully you'll see even more progress in the fourth quarter. Yeah, the recovery really was pretty broad-based and really did progress and strengthen as the quarter ended and is continuing to strengthen into October. We feel great about our minority investment and will continue to monitor progress on the uptake of the InVisionFirst-Lung test and the development progress of the company's promising minimal residual disease or MRD pan-cancer monitored assay as we consider exercising our option to purchase Inivata. Obviously, you're scaling headcount there and there seems to be a lot of excitement at least among your pharma customers around the prospects for what informatics can add, but can you walk us through sort of like your plans for perhaps formalizing the monetizing structure around that business? See you at the top! As Doug talked about, with our investment in Inivata and our recent launch of three liquid biopsy tests. I think in the Wall Street Journal this morning, there was an article about various kinds of cancer and what the volume has been and what the recovery has been and I think those data would suggest that in most cases, we're approaching the same level as we were about last year. NeoGenomics, Inc. specializes in cancer genetic testing and information services. I'd like to welcome you all to NeoGenomics' third quarter 2020 conference call. As of September 30th, our backlog of signed contracts stood at $185 million, representing a 57% year-over-year growth and a new high watermark. Small focus panels are no longer sufficient for many of our pharma clients. Clinical division revenue per test was $359, down 3% year-over-year and up 2% sequentially. Although Pharma revenue was affected by the pandemic, demand has remained strong and steady throughout this year as we continued to sign new contracts for future work. And then, a lot of moving parts on liquid biopsy screening tests, I mean you had GRAIL getting acquired by Illumina, Exact this morning acquiring Thrive, you had CMS coming out with some screening benchmarks. So it was a combination of the existing trial enrollments[Phonetic] returning back to maybe more normal enrollment numbers as well as for the new trials finally starting. Please go ahead. So we're looking forward to improved margins in those areas. Great, that's very helpful. An archive of the web-cast will be available until … I think what we're seeing now in the marketplace in addition to a resurgence in COVID is a greater penetration of rapid tests. Thank you. Got it. An archive of the web-cast will be available until … Let me try and take a crack at that. Our team in La Jolla has been extremely busy working on proposals from our sales team and we've signed several contracts in our current backlog based on their work. All right, thank you. So I really think if you look over to -- not Q2 per se, because Q2 was definitely impacted by the pandemic, but looking back at Q4 and Q1 of 2019 and 2020, more indicative of our short-term expectations was improvement from there. 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. NeoGenomics offers lab services for oncology clinical trials. [Operator Instructions]. The promising recovery in our core oncology business along with a significant contribution from COVID-19 PCR testing significantly improved profitability. Our coordination and partnership with the talented team in Inivata has been strong. While we are still in the early innings of liquid biopsy at NeoGenomics, we are excited about having launched our comprehensive suite of tests in the middle of this year. Would you expect Neo to play a role in liquid biopsy cancer screening, early stage screening or is the company going to stick with later stage such as treatment selection and recurrence monitoring? We try to be transparent about what's happening in our business. We'd also like to update you on the acquisition we completed earlier this year. Test volume growth also improved for this product line as the quarter progressed. Got it. 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. George will review some strategic investments and opportunities that we have in Pharma Services. Our share in oncology really has pharma sponsors wanting to work with us and the great part of NeoGenomics too is we create optionality for them, so if they want to work with an IVD partner, they can, if they want to go to a single-site PMA, we can. While we are pleased by the sequential rebound in quarter three, we are also encouraged by the clear and continuing momentum we saw within the quarter in our core oncology business. Hi, Doug, thanks for the question. Investor Relations Careers. What we've seen as the markets have started to open more and more is our sales team seems to have easier access to hospitals and pathology groups, that seems to be an easier access point to get into the hospital away from where patients are consolidated and into the pathology suite for meetings. Like many other companies, the extensive workplace protections and work from home measures we put in place had an effect on productivity. Well, we're watching this obviously on a day-by-day basis and there is some uncertainty, there is some disruption that continues in -- really in almost every business in the country. And reimbursement, we don't really see anything other than what Kathryn already discussed affecting 2021. Bill will continue to serve as Director of Investor Relations, a position he has held since 2018. Modern oncology drug development continues to select for smaller groups of patients defined by unique molecular modifications and our pharma clients now ask for a much larger range of molecular targets. Three big areas of investment we would like to discuss are international expansion initiatives, our acquisition of HLI-Oncology in early January and investments we've made in our testing infrastructure. Neogenomics Inc Q2 2020 ... President of our Informatics Division and Director of Investor Relations. Please go ahead. Prior to joining NeoGenomics, I had spent many years as an external advisor to the company. Remarkably, the recovery and profitability occurred despite significant change and disruption to our business. And then, one final one on informatics here for Bill. During the second and third quarters, we invested considerable resources to set up a high quality, high capacity COVID-19 testing lab and continued to invest in Pharma Services next-generation sequencing and commercialization efforts. 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. Now I'd like to introduce Doug Brown. Thank you very much. Robert J. Shovlin -- President, Clinical Services Division. We also saw the start of new clinical trials, which is something we did not see in quarter two. As a reminder, we withdrew our full-year 2020 financial guidance on April 9, 2020 in light of the COVID-19 pandemic. Incidentally, if you are listening to this conference call via webcast only and would like to submit a question, please feel free to email us at firstname.lastname@example.org during the Q&A session and we will address your questions at the end if the subject matter hasn't already been addressed by our call-in listeners. Please go ahead. Hi, thanks. 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. Yeah, I was just asking about sort of gross margin in the core Clinical Services -- clinical testing business. This compares to earnings of … I will now turn the call back over to Doug VanOort. And then, just lastly on the gross margins in Pharma Services, great progress 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. Now I'd like to introduce George Cardoza. Before turning the call back to Doug VanOort, I want to let everyone know that we'll be making a copy of our prepared remarks for this morning's call available on the Investor Relations section of our website shortly after the call is completed. 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. 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? As mentioned at the beginning of this call, we would like to ask each person to limit their questions to two, so that we may hear from everyone and still keep within the hour allotted for this call. 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. As Doug highlighted, overall revenue grew 44% sequentially and 20% year-over-year to $125 million. And of course would appreciate any color on test utilization for the next couple of quarters if you have any visibility. Neogenomics Inc Q1 2020 ... Investor Relations. But through this all the demand has remained strong, I mean the pharma sponsors continue to sign contracts with us, so we are seeing the demand be strong I think there were some access issues clearly related to COVID but I do think we feel really good about the underlying demand. Were there certain areas in your offering that came back stronger than others and anything to note there just to give us a better sense of the recovery? Neogenomics Inc Q3 2019 ... Investor Relations. And so, it's not like the lockdowns that we had back in quarter two, they are seeing patients, they are performing procedures in the hospital and I think as long as the pandemic remains at a somewhat manageable level, that even at this level and maybe even higher, we expect that our clients are going to remain open for business. Investor Relations Doug Brown Chief Strategy and Corporate Development Officer T: 239.768.0600 x2539 M: 704.236.2064 email@example.com, Charlie Eidson Manager of Investor Relations and Manager of Strategy and Corporate Development T: 239.768.0600 x2726 M: 952.221.8816 firstname.lastname@example.org, 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. The Company provides one of the most comprehensive oncology-focused testing menus in the world for physicians to help them diagnose and treat cancer. Well, I would say first of all, Stephen, thanks for the question. 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. Next, we go to the line of Steve Unger with Needham. We'll return to Mr. VanOort for finishing or -- excuse me, for final comments. As with any integration, we had to transition this business from platforms utilized by Human Longevity companywide to the NeoGenomics infrastructure and platforms. So those are the kinds of things that we're working on. Appreciate your time. No question, quarter three was operationally challenging as a result of the pandemic that we are all dealing with but overall, we are pleased with the company's performance. Well, I mean I would say maybe a couple of things on that one. Next, we go to the line of Tejas Savant with Morgan Stanley. We've already built a much stronger marketing team and have been developing a number of exciting marketing initiatives. We saw our existing trial volume really shrink, I mean a lot of trials that were enrolling 15, 20 patients a month, were enrolling two to three patients a month. We view investment in these initiatives as highly strategic and we plan on updating investors on their impact over the coming quarters. Let's conquer your financial goals together...faster. Okay, that's helpful, and then just one more. I mean, we've got -- we did long-term guidance here, where we said, I think you should expect 1% to 3% decline in our AUP, but we've got a variety of dynamics affecting that, one that Puneet asked about earlier was the impact of mix of next-generation sequencing in these other assays that are higher priced that might have on it. Thank you very much, Tejas, for the question. In our clinical oncology business, revenue improved to 28% compared with last quarter to approximately the same level as last year, despite a very challenging environment. Now we don't have plans for our existing NeoLAB pan-cancer assay to -- well, I guess it is actually approved because we're using the Thermo Fisher platform for that. We exited quarter three with $284 million in cash and marketable securities, which excludes an additional $32 million in restricted cash designated for the construction of our new state-of-the-art laboratory and global headquarters in Fort Myers, Florida. We also now are getting interested not only because we can help in Pharma Services with the companion program, but also because we have the ability in our clinical division once the therapy is approved by the regulatory agency to flip it over and to help commercialize that assay and the therapy is relatively rapidly, because we have the test up and running. So that's where we are at the present time. And you're right, informatics ought to come in at higher gross margins as we go forward. We achieved a record level of adjusted EBITDA of $17 million in Q3, driven by a strong recovery in our core businesses and the contribution from COVID-19 PCR testing. Sure. Overall gross margins improved approximately 1,100 basis points sequentially to 43%, reflecting a strong recovery in both clinical and pharma revenues on largely fixed cost COGS infrastructure. Got it. Joining me from our Fort Myers headquarters with social distancing precautions in place are Kathryn McKenzie, our Chief Financial Officer; Rob Shovlin, President of our Clinical Services Division; George Cardoza, President of our Pharma Services Division; Bill Bonello, President of our Informatics Division; Doug Brown, our Chief Strategy and Corporate Development Officer; and Charlie Eidson, our Manager of Investor Relations. I wanted to follow up on the V-Shape recovery to understand this a little better. Thank you for taking the question. We think it's going to be a terrific product for patients and a terrific product for us and you can assume that we're working hard together to make it happen. Market data powered by FactSet and Web Financial Group. So do you think the market was closer to down 10%, down 20%, and thus, this is somewhat proof that Neo is still taking share during the pandemic? Douglas M. VanOort -- Chairman and Chief Executive Officer. 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. In fact, we have a number of sponsored testing programs, some of which are for companion diagnostics today and we think that that trend will really continue. For perspective, revenue for Pharma Services during this past quarter is 3.5 times higher than it was in the first quarter of 2017 and we're excited about our future prospects. Wondering if you -- what's your expectation for your multi-gene panel, when can that potentially receive FDA approval and also, what are the plans for the NeoLAB Solid Tumor or the InVisionFirst assay to get into the FDA approval queue potentially? At this time, it is my pleasure to turn the floor over to your host, Chairman and CEO, Mr. Doug VanOort. Next, we go to Brian Weinstein with William Blair. 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. Over those years as an outsider looking in, I was always very excited about the Company's strategy and its opportunities for growth. NeoGenomics, Inc. William Bonello Vice President Strategy, Corporate Development and Investor Relations (239)690-4238 (w) (239)284-4314 (m) email@example.com The presentation will be webcast live and accessible online via the investors section of the Company's website, www.neogenomics.com. The following slide deck was published by NeoGenomics, Inc. in conjunction with this event. This global expansion has proved critical for us to participate in certain RFPs for important global clinical trial work. 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. David Westenberg -- Guggenheim Securities -- Analyst. Cumulative Growth of a $10,000 Investment in Stock Advisor, Neogenomics Inc (NEO) Q3 2020 Earnings Call Transcript @themotleyfool #stocks $NEO, NeoGenomics Slumps in Q2 but Readies for Second-Half Rebound, Neogenomics Inc (NEO) Q2 2020 Earnings Call Transcript, The Coronavirus Pandemic Will Test Invitae's Telemedicine Ambitions, Copyright, Trademark and Patent Information. I'll make some closing comments before we open it up to questions and answers. Just five years ago, we had essentially no Pharma Services business. Some of our international sites aren't fully up to capacity yet, even though La Jolla laboratory we said that Human Longevity would be a drag on our margins in 2020, that laboratory is in a capacity either. NeoGenomics reported record revenue and adjusted EBITDA in quarter three as we rebounded strongly from a very challenging second quarter. When you think about the different services that you guys offer and looking at your volume numbers, obviously you mentioned in the release that core oncology business looks to be a V-Shape recovery. Yeah, thanks for the question, Puneet. An archive of the web-cast will be available until … And especially as these become more prominent in the market, we'll continue to see some growth opportunities in AUP. Sure. Part of that process, by the way includes whole exome sequencing that we -- we're working with them through our Neo La Jolla laboratory that George mentioned. Our move to build out a pharma-dedicated infrastructure has put us in a position to continue our rapid growth trajectory and high service levels without putting pressure on our clinical division in the process. And then, is it challenging in this environment to gain new customer relationships or new payer contracts or agreements? Now that would suggest that there is still pent-up demand, because we know that cancer cases are increasing, that the market's growing, and that we're taking market share. Tejas Savant -- Morgan Stanley -- Analyst. Yeah, we clearly had capacity. Great. COVID-19. NeoGenomics (NEO) Investor Presentation - Slideshow. Hey guys, good morning. The only thing I'd add there is, Doug Brown mentioned, we are investing in strategic marketing and in this environment everyone's having to rethink creative marketing and a lot of virtual trade shows and how do we interact with our customers in a different way, and we are being very proactive, and how we are really positioning ourselves going forward to make sure that we're at the forefront of the playbook and making sure that we're thinking about what marketing and client retention and client acquisition looks like going forward, because I think it's going to be this way for a bit. Headquartered in Fort Myers, FL, NeoGenomics operates CAP accredited and CLIA certified laboratories in Ft. Myers and Tampa, Florida; Aliso Viejo, Carlsbad and Fresno California; Houston, Texas; Atlanta, Georgia; Nashville, Tennessee; Rolle, Switzerland, and Singapore. Next, we go to the line of Jacob Johnson with Stephens. William Bonello Chief Strategy and Corporate Development OfficerDirector, Investor Relations(239)690-4238 (w) (239)284-4314 (m)firstname.lastname@example.orgSOURCE: NeoGenomics, Inc. In our clinical oncology business, test volume improved throughout the quarter as average daily test volume increased nearly 10% from the month of July to September. It's difficult for us to gauge that, there are a lot of different kinds of metrics out there. Appreciate it. The kind of general trends that we're seeing in pharma, for example, have been very, very strong throughout this even though access, as George said, is an issue. Neogenomics Inc (NASDAQ:NEO)Q3 2020 Earnings CallOct 27, 2020, 8:30 a.m. Okay. Nice quarter for Pharma Services, how much of that was driven by clinical trials and can you give us a sense of how the clinical trial recovery is going? We are more confident everyday that we are on a steady path toward growth levels consistent with our historical long term guidance. Hey, thanks. This completes the funding of our minority shareholder investment in Inivata that we announced earlier this year. At this point, we would like to open up the call for questions. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. So when we budgeted, when we gave guidance early in the year long-term, we would expect our clinical volume growth to be in the kind of a 12% to 15% range and we're not yet at that level, but we're moving in that direction. Operating expenses increased 5% or $2 million year-over-year to $47 million due to investments in informatics, additional insurance premiums and the acquisition of HLI-Oncology, which we like to refer to now as Neo La Jolla. Thank you. Well, we lost the call, so we are rejoining, sorry. We've also seen numerous instances where projects from our Pharma Services division helped to become new tests, which accelerate growth over in our clinical division. While the lab was attractive to us the opportunity to add a talented molecular team was also a major factor in our purchase. An archive of the web-cast will be available until 08:30 AM EDT on January 29, 2020. Pharma Services. Mr. Cooper, if you could please resignal so I could put you back in the queue and you could finish your question. One of the key capabilities that the Human Longevity team brought to Neo was full exome sequencing. NeoGenomics, Inc. William Bonello Chief Strategy and Corporate Development Officer Director, Investor Relations (239)690-4238 (w) (239)284-4314 (m) email@example.com. Pharma research-related services have remained strong all year and informatics-related revenue has been extremely strong. Please go ahead, Mr. Cooper. Unemployment doesn't seem to be a factor in our clinical business or our pharma business either. Investor Relations Doug Brown Chief Strategy and Corporate Development Officer T: 239.768.0600 x2539 M: 704.236.2064 firstname.lastname@example.org. Manager of Investor Relations and Manager of Strategy and Corporate Development … The playback conference ID number is 37902. In addition to exploring external partnership opportunities, including our collaboration with Inivata, we continue to invest in our own internal research and development activities. This is Griffin Sori[Phonetic] on for Brian. In fact, September was the largest revenue month on record for the Pharma Services division. And then maybe on the Clinical Services side, I imagine COVID-19 is taking up a disproportionate amount of your time, but in Clinical Services after you've integrated Genoptix, are there any operational areas that you've been focused on recently admittedly, in the midst of a pandemic I think billing and collecting is always an area of focus, but anything else? NeoGenomics (NEO) came out with quarterly earnings of $0.10 per share, beating the Zacks Consensus Estimate of $0.07 per share. Oncology practices were a little slower to give access to salespeople because you have more of a concentration of patients in a waiting room. So we're seeing some good momentum there with more and more access as we went through quarter three into October. Please go ahead. Yeah, no, we had our sales team call yesterday and I mean the amount of opportunities in our pipeline are remarkable and again it's from companion diagnostics. Intra-quarter trends were also positive in the Pharma Services segment. The Company’s Pharma Services division serves pharmaceutical clients in clinical trials and drug development. So a number of cross currents there but I don't think that any -- there's anything -- no surprises that we would point to in 2021 for AUP. Clinical division test volumes, excluding COVID-19 testing, increased 2% year-over-year and improved month-to-month as the quarter progressed. Okay, operator, I think we're going to wrap it up. But we are certainly moving into the range of double-digit growth and we hope that that will move more firmly into that range. I just want to talk in the broader market here for cancer testing, you were flat year-over-year in Q3 for the clinical cancer business. East Coast Biotechnology Public Companies . Understood. Our next question or comment comes from the line of David Westenberg with Guggenheim Securities. 427 Number of Organizations • $47.6B Total Funding Amount • 1,863 Number of Investors. You mentioned terrific turnaround earlier and I wanted to follow up on that. Download PDF. Yeah, I don't have anything statistically to tell you, but anecdotally we do hear that, and I think it's a reasonable point. Hope you're all doing well. Kathryn B. McKenzie-- Chief Financial Officer. Human Longevity built a beautiful lab in La Jolla and invested in a broad range of molecular technology, including an impressive display of next-generation sequencing horsepower with a focus on whole exome sequencing. Mr. Can you just give us an update on the companion diagnostics efforts and maybe how many of these you're working on right now in Pharma Services? I'll now turn it back over to Doug VanOort. So what we saw the existing trials come back but unlike the second quarter, literally in July for the first time, we started getting first patients in on a few trials and that continued into July and really sort of continued on into August and September. We are very optimistic about the strength of this business as we look forward to Q4 and beyond. So there is not only an opportunity for that NGS but we do also have that continued pressure as we go forward on some of that pricing pressure, that 1% to 3%. Okay, got it. Learn more. Our mission is to shape a joyful lifestyle by offering premium smart electric vehicles and being the best user enterprise. So in some cases, we already got the relationship and that helps us even with things like liquid biopsy. I'll now turn the call over to Kathryn McKenzie, our Chief Financial Officer, to discuss some of the details of quarter three financial results. Revenue grew 44% sequentially and 20% year-over-year to $125 million. [Operator Instructions] And we take our first question from Alex Nowak with the Craig-Hallum Capital Group. Very interested in accelerating as much validation work as we went through quarter three of.. 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