NeoGenomics announced the commercial launch of its RaDaR ST circulating tumor DNA (ctDNA) assay, a tumor‑informed test designed to detect molecular residual disease (MRD) in patients with solid tumors. The assay is already Medicare‑approved for its initial launch indications, with additional reimbursement indications under review.
The RaDaR ST panel tracks up to 48 tumor‑specific variants and achieves a 95% probability limit of detection of 11 parts per million, enabling earlier detection of recurrence than conventional imaging methods.
The MRD market is estimated at more than $20 billion and is growing at roughly 30% annually. By entering this space, NeoGenomics expands its solid‑tumor diagnostic portfolio and positions itself to capture a share of a rapidly expanding high‑value testing segment.
The launch aligns with NeoGenomics’ strategy to focus on high‑margin, high‑growth oncology diagnostics. Management expects the assay to contribute modestly to revenue in 2026 but to become a key driver of growth from 2027 onward, reinforcing the company’s pure‑play oncology focus.
In Q4 2025, NeoGenomics reported revenue of $190 million, up 11% year‑over‑year, and an earnings‑per‑share beat of $0.06 versus the $0.04 consensus. The company guided 2026 revenue to $793–$801 million, a 10% year‑over‑year increase, and adjusted EBITDA to $55–$57 million, up 27–31% year‑over‑year, reflecting a 100‑basis‑point margin expansion.
CEO Tony Zook said, "RaDaR ST represents an important advancement in MRD testing, a rapidly growing market that remains largely untapped," underscoring the strategic significance of the launch.
NeoGenomics secured a favorable patent ruling for its RaDaR assays in August 2025 and had previously obtained Medicare coverage for breast‑cancer indications in August 2023. Competitors in the MRD space include Adaptive Biotechnologies, but NeoGenomics’ tumor‑informed ctDNA approach differentiates it in the market.
The RaDaR ST launch positions NeoGenomics as a leading provider of high‑value oncology diagnostics and sets the stage for continued revenue and margin growth as the company expands its solid‑tumor portfolio.
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