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Last Updated: December 22, 2024

NEO TECT KIT Drug Patent Profile


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When do Neo Tect Kit patents expire, and when can generic versions of Neo Tect Kit launch?

Neo Tect Kit is a drug marketed by Cis Bio Intl Sa and is included in one NDA.

The generic ingredient in NEO TECT KIT is technetium tc-99m depreotide. There are four drug master file entries for this compound. Additional details are available on the technetium tc-99m depreotide profile page.

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Summary for NEO TECT KIT
US Patents:0
Applicants:1
NDAs:1
Raw Ingredient (Bulk) Api Vendors: 7
DailyMed Link:NEO TECT KIT at DailyMed
Drug patent expirations by year for NEO TECT KIT

US Patents and Regulatory Information for NEO TECT KIT

Applicant Tradename Generic Name Dosage NDA Approval Date TE Type RLD RS Patent No. Patent Expiration Product Substance Delist Req. Exclusivity Expiration
Cis Bio Intl Sa NEO TECT KIT technetium tc-99m depreotide INJECTABLE;INJECTION 021012-001 Aug 3, 1999 DISCN No No ⤷  Subscribe ⤷  Subscribe ⤷  Subscribe
>Applicant >Tradename >Generic Name >Dosage >NDA >Approval Date >TE >Type >RLD >RS >Patent No. >Patent Expiration >Product >Substance >Delist Req. >Exclusivity Expiration

NEO TECT KIT Market Analysis and Financial Projection Experimental

Market Dynamics and Financial Trajectory for NeoGenomics' Products: A Focus on NEO TECT KIT and Related Technologies

Introduction

In the rapidly evolving field of genetic testing and cancer diagnostics, companies like NeoGenomics are at the forefront, driving innovation and growth. This article will delve into the market dynamics and financial trajectory of NeoGenomics, with a particular focus on its upcoming products like NEO TECT KIT and other related technologies.

NeoGenomics' Financial Performance

NeoGenomics, a leading provider of cancer-focused genetic testing services, has demonstrated robust financial performance in recent quarters. The company's total revenues increased by 10% year-over-year to $168 million in the third quarter of 2024, driven primarily by a 14% surge in clinical services revenue[1].

Adjusted EBITDA and Gross Profit

The company reported a significant 305% increase in adjusted EBITDA, reaching $13 million, marking the fifth consecutive quarter of positive adjusted EBITDA. Adjusted gross profit rose by 19% to $80 million, with gross margins improving to 47.8%[1].

Next Generation Sequencing (NGS) Growth

NGS has been a key driver of growth for NeoGenomics, with revenue growing by 26% and now constituting 31% of total clinical volume. This growth is attributed to competitive count wins, improved mix, and the adoption of larger test panels[1].

Upcoming Product Launches

NeoGenomics is preparing to launch several new tests, including NEO PanTracer, a liquid biopsy test, and NEO AML Express, a rapid AML test. These launches are expected to drive further growth and enhance the company's market position.

NEO PanTracer and NEO AML Express

  • NEO PanTracer: Scheduled for launch in early 2025, this liquid biopsy test is designed to provide comprehensive diagnostic insights, leveraging the advancements in NGS technology.
  • NEO AML Express: Already launched in October 2024, this rapid AML test enables patients to begin their treatment up to two times faster than previous tests, significantly improving patient outcomes[1].

Market Dynamics in Genetic Testing

The genetic testing market, particularly in the realm of cancer diagnostics, is experiencing exponential growth. This is driven by advancements in bioinformatics, precision medicine, and the development of neoantigen-based therapies.

Neoantigen Targeted Therapies

The global neoantigen targeted therapies market is projected to grow from $2.43 billion in 2023 to $11.69 billion by 2028, at a CAGR of 36.3%. Key trends include neoantigen resistance management, neoantigen-primed adoptive cell therapies, and the integration of real-world data[4].

Competitive Landscape

NeoGenomics operates in a competitive landscape where companies are continually innovating and expanding their product portfolios.

Strategic Acquisitions and Partnerships

Companies in this sector often engage in strategic acquisitions to enhance their market reach and capabilities. For example, BioNTech SE acquired Kite Pharma's Neoantigen TCR cell therapy platform, highlighting the importance of such strategic moves in the industry[4].

Financial Outlook and Strategic Initiatives

NeoGenomics plans to utilize its $388 million in cash and marketable securities to retire $201 million in convertible notes due in May 2025. The company is also exploring strategic acquisitions to further enhance its market position and capabilities.

Investments and Capital Expenditures

The focus on expanding the community oncology testing platform and enhancing the commercial team is expected to drive incremental volumes and capture market share. NeoGenomics has seen significant organic volume growth across its portfolio, with all modalities growing faster than the overall market[1].

Challenges and Opportunities

Despite the positive financial trajectory, the company faces challenges such as seasonal fluctuations in patient-provider interactions and the impact of industry headwinds.

Seasonal Fluctuations

Historically, the third quarter has been a seasonally weaker quarter due to fewer patient-provider interactions and summer travel. However, NeoGenomics has managed to achieve strong volume growth despite these challenges[1].

Conclusion

NeoGenomics is poised for continued growth, driven by its robust financial performance, innovative product launches, and strategic initiatives. The upcoming launch of NEO PanTracer and the success of NEO AML Express are expected to further solidify the company's position in the market.

Key Takeaways

  • Revenue Growth: Total revenues increased by 10% to $168 million, with clinical services revenue up 14%.
  • NGS Growth: NGS revenue grew by 26%, constituting 31% of clinical volume.
  • Product Launches: NEO PanTracer and NEO AML Express are set to drive future growth.
  • Financial Outlook: The company plans to retire convertible notes and explore strategic acquisitions.
  • Market Dynamics: The genetic testing market is growing exponentially, driven by advancements in bioinformatics and precision medicine.

FAQs

1. What is the significance of NGS in NeoGenomics' revenue growth?

NGS revenue grew by 26% and now constitutes 31% of NeoGenomics' total clinical volume, making it a key driver of growth for the company[1].

2. What new tests is NeoGenomics launching in 2025?

NeoGenomics is launching NEO PanTracer, a liquid biopsy test, and has already launched NEO AML Express, a rapid AML test, in October 2024[1].

3. How is the market for neoantigen targeted therapies evolving?

The global neoantigen targeted therapies market is expected to grow from $2.43 billion in 2023 to $11.69 billion by 2028, driven by advancements in bioinformatics and precision medicine[4].

4. What are the key financial metrics for NeoGenomics in the third quarter of 2024?

NeoGenomics reported a 10% increase in total revenues to $168 million, a 305% increase in adjusted EBITDA to $13 million, and a 19% increase in adjusted gross profit to $80 million[1].

5. How is NeoGenomics planning to use its cash reserves?

The company plans to use its $388 million in cash and marketable securities to retire $201 million in convertible notes due in May 2025 and to explore strategic acquisitions[1].

Cited Sources

  1. Investing.com: "Earnings call: NeoGenomics sees growth with NGS and new test launches"
  2. Neo Performance Materials: "Neo Performance Materials Reports Third Quarter 2024 Results"
  3. Carlson School of Management: "R&D Investment Following the Erosion of Existing Products"
  4. The Business Research Company: "Global Neoantigen Targeted Therapies Market Report 2024"
  5. S&P Global: "NEO Tech affirmed by S&P Global Ratings at CCC+ as demand improves"

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