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Thermo Fisher (TMO) Launches NGS Platform for Clinical Labs
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Thermo Fisher Scientific Inc. (TMO - Free Report) recently launched the Ion Torrent Genexus Dx Integrated Sequencer. This CE-IVD marked automated, next-generation sequencing (NGS) platform delivers results within a single day. Previously, the Ion Torrent Genexus System was introduced in 2019 as the first fully integrated NGS platform that delivers results in as little as 24 hours for research purposes only.
The fully validated system is intended for use in clinical laboratories. It allows users to conduct diagnostic testing and clinical research on a single instrument. The platform’s automated workflow reduces user intervention and the possibility of human error, making NGS accessible to all laboratories.
More on the News
Per management, NGS is a critical tool for delivering the promise of precision medicine therapies to patients. In this regard, it is worth noting that the automated, easy-to-use Genexus Dx Integrated Sequencer enables any hospital, including regional and community hospitals, to bring NGS in-house. This provides clinicians with access to timely, comprehensive genomic profiling results. The rapid results can assist clinicians in patient management decision-making, including therapeutic options.
Image Source: Zacks Investment Research
In addition, Thermo Fisher is building a complete sample-to-report diagnostic workflow and a portfolio of clinically validated assays, including those for comprehensive genomic profiling and hemato-oncology on the Genexus System. This is expected to improve physicians’ access to rapid NGS results.
Industry Prospects
Per a report by MarketsandMarkets, the next-generation sequencing market is anticipated to witness a CAGR of 18.7% during 2021-2026. Factors including advancements in NGS platforms, growing applications of NGS in cancer research, declining costs of genome sequencing and increasing incidence of cancer are fuelling market growth.
Given the market prospects, Thermo Fisher’s latest launch of the Ion Torrent Genexus Dx Integrated Sequencer seems well-timed.
Notable Developments
In March 2022, Thermo Fisher announced the availability of the non-hazardous InhibiSURE Viral Inactivation Medium formula in Europe. This novel viral transport medium facilitates the collection and rapid inactivation of the SARS-CoV-2 virus while stabilizing viral RNA at ambient temperature for transportation and use in in vitro diagnostic testing procedures. The use of this inactivation medium also enhances laboratory throughput by eliminating the need for further inactivation steps.
In February 2022, the company entered into a 15-year strategic collaboration agreement with Moderna to enable dedicated large-scale manufacturing of the latter’s COVID-19 vaccine, Spikevax, as well as other investigational mRNA medicines in its pipeline in the United States. Under the terms of the deal, Thermo Fisher will supply a dedicated capacity for a range of aseptic fill-finish services, including lyophilized and liquid filling. The company will also offer inspection, labeling and final packaging services.
Share Price Performance
The stock has outperformed its industry over the past year. It has rallied 29.9% compared to the industry’s growth of 2.9%.
Zacks Rank and Key Picks
Currently, Thermo Fisher carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Henry Schein, Inc. (HSIC - Free Report) and McKesson Corporation (MCK - Free Report) .
AMN Healthcare has a long-term earnings growth rate of 16.2%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 19.5%, on average. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare has outperformed its industry in the past year. AMN has gained 44.4% versus the 54.5% industry decline.
Henry Schein has an estimated long-term growth rate of 11.8%. Henry Schein’s earnings surpassed estimates in the trailing four quarters, the average surprise being 25.5%. It currently has a Zacks Rank #2 (Buy).
Henry Schein has outperformed the industry over the past year. HSIC has gained 28.2% compared with the industry’s 10.2% rise over the past year.
McKesson has a long-term earnings growth rate of 11.8%. McKesson’s earnings surpassed estimates in the trailing four quarters, delivering a surprise of 20.6%, on average. It presently carries a Zacks Rank #2.
McKesson has outperformed the industry over the past year. MCK has gained 57.4% in the said period compared with 10.2% growth of the industry.
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Thermo Fisher (TMO) Launches NGS Platform for Clinical Labs
Thermo Fisher Scientific Inc. (TMO - Free Report) recently launched the Ion Torrent Genexus Dx Integrated Sequencer. This CE-IVD marked automated, next-generation sequencing (NGS) platform delivers results within a single day. Previously, the Ion Torrent Genexus System was introduced in 2019 as the first fully integrated NGS platform that delivers results in as little as 24 hours for research purposes only.
The fully validated system is intended for use in clinical laboratories. It allows users to conduct diagnostic testing and clinical research on a single instrument. The platform’s automated workflow reduces user intervention and the possibility of human error, making NGS accessible to all laboratories.
More on the News
Per management, NGS is a critical tool for delivering the promise of precision medicine therapies to patients. In this regard, it is worth noting that the automated, easy-to-use Genexus Dx Integrated Sequencer enables any hospital, including regional and community hospitals, to bring NGS in-house. This provides clinicians with access to timely, comprehensive genomic profiling results. The rapid results can assist clinicians in patient management decision-making, including therapeutic options.
Image Source: Zacks Investment Research
In addition, Thermo Fisher is building a complete sample-to-report diagnostic workflow and a portfolio of clinically validated assays, including those for comprehensive genomic profiling and hemato-oncology on the Genexus System. This is expected to improve physicians’ access to rapid NGS results.
Industry Prospects
Per a report by MarketsandMarkets, the next-generation sequencing market is anticipated to witness a CAGR of 18.7% during 2021-2026. Factors including advancements in NGS platforms, growing applications of NGS in cancer research, declining costs of genome sequencing and increasing incidence of cancer are fuelling market growth.
Given the market prospects, Thermo Fisher’s latest launch of the Ion Torrent Genexus Dx Integrated Sequencer seems well-timed.
Notable Developments
In March 2022, Thermo Fisher announced the availability of the non-hazardous InhibiSURE Viral Inactivation Medium formula in Europe. This novel viral transport medium facilitates the collection and rapid inactivation of the SARS-CoV-2 virus while stabilizing viral RNA at ambient temperature for transportation and use in in vitro diagnostic testing procedures. The use of this inactivation medium also enhances laboratory throughput by eliminating the need for further inactivation steps.
In February 2022, the company entered into a 15-year strategic collaboration agreement with Moderna to enable dedicated large-scale manufacturing of the latter’s COVID-19 vaccine, Spikevax, as well as other investigational mRNA medicines in its pipeline in the United States. Under the terms of the deal, Thermo Fisher will supply a dedicated capacity for a range of aseptic fill-finish services, including lyophilized and liquid filling. The company will also offer inspection, labeling and final packaging services.
Share Price Performance
The stock has outperformed its industry over the past year. It has rallied 29.9% compared to the industry’s growth of 2.9%.
Zacks Rank and Key Picks
Currently, Thermo Fisher carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Henry Schein, Inc. (HSIC - Free Report) and McKesson Corporation (MCK - Free Report) .
AMN Healthcare has a long-term earnings growth rate of 16.2%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 19.5%, on average. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare has outperformed its industry in the past year. AMN has gained 44.4% versus the 54.5% industry decline.
Henry Schein has an estimated long-term growth rate of 11.8%. Henry Schein’s earnings surpassed estimates in the trailing four quarters, the average surprise being 25.5%. It currently has a Zacks Rank #2 (Buy).
Henry Schein has outperformed the industry over the past year. HSIC has gained 28.2% compared with the industry’s 10.2% rise over the past year.
McKesson has a long-term earnings growth rate of 11.8%. McKesson’s earnings surpassed estimates in the trailing four quarters, delivering a surprise of 20.6%, on average. It presently carries a Zacks Rank #2.
McKesson has outperformed the industry over the past year. MCK has gained 57.4% in the said period compared with 10.2% growth of the industry.