BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith continues its investigation on behalf of NeoGenomics, Inc. (“NeoGenomics” or the “Company”) (NASDAQ: NEO) investors concerning the Company’s possible violations of federal securities laws.
On March 28, 2022, after the market closed, NeoGenomics announced that its Chief Executive Officer, Mark Mallon, had resigned, less than a year after accepting the position. The Company also stated that revenue for first quarter 2022 would be “below the low end of its prior guidance of $118 - $120 million” and withdrew its fiscal 2022 guidance.
On this news, NeoGenomics’ stock fell $5.30, or 29.8%, to close at $12.49 per share on March 29, 2022, thereby injuring investors.
Then, on April 27, 2022, NeoGenomics announced disappointing financial results for Q1 2022, including $99 million in Clinical Services revenue, $18 million in Pharma Services revenue (representing a 4% year-over-year decline), and a net loss of $49 million (compared to a net loss of $22 million for the first quarter of 2021).
On this news, NeoGenomics’s shares fell $1.10, or 10%, over two consecutive trading sessions to close at $9.75 per share on April 28, 2022, thereby injuring investors further.
If you purchased NeoGenomics securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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