NeoGenomics "For Sale"

Hang out the "For Sale" sign. $3M raised by directors doesn't offset 2010 loss. One of the new directors is a M&A guy while the other was the president of Dianon when the sold out to LabCorp. NeoGenomics, Genzyme, Dianon and US Labs will be one happy family by Q2 2011. In this scenario....Fla may be safe-Tenn and Ca will be gone.

NeoGenomics post losses
By: Gulf Coast Business Review
February 10, 2011
NeoGenomics Inc.

FORT MYERS — NeoGenomics Inc. (symbol: NGNM) earned $34.4 million in revenues, up 17% over the year. But its net losses grew by 50%, from a $2.2 million loss in 2009 to a $3.3 million loss in 2010.

 

add in the 300k gov't grant and 2010 0's out

 

put a fork in it

NeoGenomics Announces Changes to its Board of Directors

FT. MYERS, Fla., Feb. 10, 2011 /PRNewswire/ -- NeoGenomics, Inc. (OTC Bulletin Board: NGNM), a leading provider of cancer-focused genetic testing services announced today that Kevin C. Johnson and Raymond R. Hipp have joined its Board of Directors. Mr. Johnson's appointment was effective October 28, 2010 and filled the vacancy created by the resignation of Mr. George O'Leary. Mr. Hipp's appointment was effective as of February 3, 2011 and filled the vacancy created by the resignation of Dr. Marvin Jaffe.

Mr. Johnson is Chairman of the Board of Aureon Biosciences, Inc. a medical technology company focused on determining likely paths for patients' cancers. He also serves on the Board of Precision Therapeutics, a diagnostics services company using a proprietary tumor cell-based platform to measure patient's tumor sensitivity and resistance to a range of therapeutic alternatives under consideration. From May 1996 until January 2003, Mr. Johnson was Chairman, Chief Executive Officer and President of DIANON Systems, Inc., a publicly-traded cancer diagnostic services company providing anatomic pathology and molecular genetic testing services to physicians nationwide. During that time, DIANON grew annual revenues from approximately $56 million in 1996 to approximately $200 million in 2002, and DIANON's market capitalization grew from $45 million to approximately $600 million when it was sold to Laboratory Corporation of America in January of 2003. Prior to joining DIANON in 1996, Mr. Johnson was employed by Quest Diagnostics and Quest's predecessor, the Life Sciences Division of Corning, Incorporated, for 18 years, and held numerous management and executive level positions.

Mr. Hipp is a retired senior executive that has been involved in consulting work over the last few years involving mergers and acquisitions as well as being a member of a number of public company boards of directors. From July 1998 until his retirement in June 2002, Mr. Hipp served as Chairman, President and CEO of Alternative Resources Corporation, a provider of information technology outsourcing services. From August 1996 until May 1998, Mr. Hipp was the Chief Executive Officer of ITI Marketing Services, a provider of marketing services. Prior to that, Mr. Hipp held senior executive positions with several other firms. Mr. Hipp has a B.S. from Southeast Missouri State University. Mr. Hipp is a director and serves on the audit committee for Gardner Denver, Inc., an industrial manufacturing company. Mr. Hipp will also serve as our Audit Committee chairperson.

 

Maybe they will combine with Aureon?

 

This is way out there, where did you come up with this???? Considering the way this whole mess has played out, there is no doubt that the new director of M&A has his marching orders.

 

Hey you Stupid Dope idiot! This is where I came up with this:

"FT. MYERS, Fla., Feb. 10, 2011 /PRNewswire/ -- NeoGenomics, Inc. (OTC Bulletin Board: NGNM), a leading provider of cancer-focused genetic testing services announced today that Kevin C. Johnson and Raymond R. Hipp have joined its Board of Directors. Mr. Johnson's appointment was effective October 28, 2010 and filled the vacancy created by the resignation of Mr. George O'Leary. Mr. Hipp's appointment was effective as of February 3, 2011 and filled the vacancy created by the resignation of Dr. Marvin Jaffe.

Mr. Johnson is Chairman of the Board of Aureon Biosciences, Inc. a medical technology company focused on determining likely paths for patients' cancers"

MAYBE YOU SHOULD READ THE WALL STREET JOURNAL OR BARRONS AND START TO UNDERSTAN HOW CORPORATE BUSINESS IS REALLY DONE!

 

I can see your point but I have to agree with OP. The combination of Mr. Johnson (Dianon) and Mr. Hipp (M&A) points towards M&A with the likes of LabCorp or Quest. Aureon may be a good company, but they're focus is not hem/onc and they are a privately owned company. Consolidation w/i this marketspace and lack of capital will make it hard for Neo to continue as a stand alone.

 

Great post above this one. Probably the most intelligent post ever on this site
I concede my previous posts.

 

why would someone buy a lab that is losing $?

 

You guys still around! I keep taking all your business and you have no molecular offering.
And yes I am a surviving US LAB REP!

 

Stock is down 8% over the last 5 trading days. A cash poor company like Neo can't afford this type of selloff for to long.

 

Down another point--------over 16 thousand shares sold off this morning.

 

Down 3% w/ 2hrs to go

 

TIMBER!!!!!!!!

 

Help us CSI....PLEASE SAVE US!

Can't you use your Saudi money to bail us out....or is it Al Quieda money...can't get it straight.
But we will take it

HhhhhhhhheeeeeeelllllpppP ussssssss

 

NeoGenomics was awarded a $374,000 Therapeutic Discovery grant in the fourth quarter, which the company reported in other income. Net loss for the quarter was ($377,000), or ($0.01) per share, versus a net loss of ($1,529,000), or ($0.04) per share, in last year's fourth quarter. Net loss in 2010 was approximately ($3.3) million, or ($0.09) per share, versus a net loss of ($2.2) million, or ($0.06) per share, in 2009.
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It's interesting how the gov grant covers Q4 losses while the BOD stock buyin covers 2010 losses. Coincidence.....I don't think so.

 

stock has flat-lined for the last day and a half. i would say the patient is dead

 

I heard a bunch of US Lab sales peeps were laid off due to the Genzyme buy out, any truth to this? Thanks!

 

CSI is eating Neos lunch, has nothing to do with infused $$$, they have increased market share by taking clients away from Neo and others....

 

Yes, most of us. Mike runs the show now and kept all of his people and let ours go. Post if you all are hiring.