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Labcorp (LH) Extends MRD Clinical Research With New Launch
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Laboratory Corporation of America Holdings, Inc. or Labcorp (LH - Free Report) recently announced the launch of Labcorp Plasma Detect. It is the first whole-genome sequencing circulating tumor DNA (ctDNA) molecular residual disease (MRD) solution for tumor-informed, clinically validated early-stage colon cancer. It identifies patients who are more likely to experience a recurrence following surgery or adjuvant chemotherapy (ACT).
The launch of the Labcorp Plasma Detect MRD solution further advances Labcorp's leadership in precision oncology across the solid tumor oncology care continuum.
More on New Launch
Labcorp Plasma Detect is an extension of the two liquid biopsy platforms that have already been successfully implemented Labcorp Plasma FocusTM, which is a targeted approach and Labcorp Plasma CompleteTM, which is a comprehensive profiling solution. Both platforms are useful for clinical research and clinical applications.
This scalable and standardized technique can be applied to a variety of solid tumors to enable shorter turnaround times without sacrificing good analytical performance. It is intended for research use but is also appropriate for clinical applications.
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With ongoing efforts to expand into other indications, such as bladder and lung cancer, Labcorp Plasma Detect is currently clinically validated for early-stage colon cancer.
Significances of New Launch
A noteworthy accomplishment, Labcorp Plasma Detect expands Labcorp's portfolio of liquid biopsies and solidifies our leadership in oncology patient outcome improvement. With the aim of enhancing patient outcomes in early-stage disease, it offers a high-impact solution for clinical research and biopharmaceutical drug development to assist prospective and retrospective clinical studies.
The Labcorp Plasma Detect integrated whole-genome sequencing sample-to-report workflow was created in accordance with PGDx's design control procedure and quality management system. It has undergone extensive clinical and analytical validation to demonstrate that it has a high ctDNA detection sensitivity and specificity.
Industry Prospects
Per Grand View Research, the global minimal residual disease testing market size was estimated at $1.89 million in 2022 and is expected to expand at a CAGR of 11.45% from 2023 to 2030. Factors such as the increasing prevalence of cancer, increasing consumer awareness for therapy and increasing funding for research with an increasing disposable income in emerging economies are driving the market.
Recent Developments
In March 2024, Labcorp highlighted results from two studies at the 2024 SGO Annual Meeting on Women's Cancer. The trials demonstrate how biomarker testing can help close testing gaps and guide tailored therapy for patients with epithelial ovarian cancer (EOC). The study highlights the need for thorough biomarker testing in furthering the treatment of ovarian cancer. These findings confirm that access to modern technology, combined with collaboration with partners who share a dedication to the most recent care models, provides the foundation for developing breakthrough diagnostic tools.
Earlier in 2023, the company forged a partnership with ImmunoGen on an immunohistochemistry-sponsored testing program to increase access for patients with ovarian cancer. Labcorp added HER2 low reporting to the IC test, which is the only FDA-approved companion diagnostic of HER2 status for patients with metastatic breast cancer.
Price Performance
In the past year, LH’s shares have gained 7.2% compared with the industry’s rise of 11.9%.
Zacks Rank and Key Picks
Labcorp currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are Stryker Corporation (SYK - Free Report) , Cencora, Inc. (COR - Free Report) and Cardinal Health (CAH - Free Report) .
Stryker, carrying a Zacks Rank #2 (Buy), reported a fourth-quarter 2023 adjusted EPS of $3.46, beating the Zacks Consensus Estimate by 5.8%. Revenues of $5.8 billion outpaced the consensus estimate by 3.8%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stryker has an estimated earnings growth rate of 11.5% for 2025 compared with the S&P 500’s 9.9%. The company’s earnings surpassed estimates in each of the trailing four quarters, the average being 5.1%.
Cencora, carrying a Zacks Rank #2, reported a first-quarter fiscal 2024 adjusted EPS of $3.28, which beat the Zacks Consensus Estimate by 14.7%. Revenues of $72.3 billion outpaced the Zacks Consensus Estimate by 5.1%.
COR has an earnings yield of 5.75% compared with the industry’s 1.85%. The company’s earnings surpassed estimates in each of the trailing four quarters, the average being 6.7%.
Cardinal Health, carrying a Zacks Rank #2, reported second-quarter fiscal 2024 adjusted earnings of $1.82, which beat the Zacks Consensus Estimate by 16.7%. Revenues of $57.45 billion improved 11.6% on a year-over-year basis and also topped the Zacks Consensus Estimate by 1.1%.
CAH has a long-term estimated earnings growth rate of 15.3% compared with the industry’s 11.8% growth. The company’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 15.6%.
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Labcorp (LH) Extends MRD Clinical Research With New Launch
Laboratory Corporation of America Holdings, Inc. or Labcorp (LH - Free Report) recently announced the launch of Labcorp Plasma Detect. It is the first whole-genome sequencing circulating tumor DNA (ctDNA) molecular residual disease (MRD) solution for tumor-informed, clinically validated early-stage colon cancer. It identifies patients who are more likely to experience a recurrence following surgery or adjuvant chemotherapy (ACT).
The launch of the Labcorp Plasma Detect MRD solution further advances Labcorp's leadership in precision oncology across the solid tumor oncology care continuum.
More on New Launch
Labcorp Plasma Detect is an extension of the two liquid biopsy platforms that have already been successfully implemented Labcorp Plasma FocusTM, which is a targeted approach and Labcorp Plasma CompleteTM, which is a comprehensive profiling solution. Both platforms are useful for clinical research and clinical applications.
This scalable and standardized technique can be applied to a variety of solid tumors to enable shorter turnaround times without sacrificing good analytical performance. It is intended for research use but is also appropriate for clinical applications.
With ongoing efforts to expand into other indications, such as bladder and lung cancer, Labcorp Plasma Detect is currently clinically validated for early-stage colon cancer.
Significances of New Launch
A noteworthy accomplishment, Labcorp Plasma Detect expands Labcorp's portfolio of liquid biopsies and solidifies our leadership in oncology patient outcome improvement. With the aim of enhancing patient outcomes in early-stage disease, it offers a high-impact solution for clinical research and biopharmaceutical drug development to assist prospective and retrospective clinical studies.
The Labcorp Plasma Detect integrated whole-genome sequencing sample-to-report workflow was created in accordance with PGDx's design control procedure and quality management system. It has undergone extensive clinical and analytical validation to demonstrate that it has a high ctDNA detection sensitivity and specificity.
Industry Prospects
Per Grand View Research, the global minimal residual disease testing market size was estimated at $1.89 million in 2022 and is expected to expand at a CAGR of 11.45% from 2023 to 2030. Factors such as the increasing prevalence of cancer, increasing consumer awareness for therapy and increasing funding for research with an increasing disposable income in emerging economies are driving the market.
Recent Developments
In March 2024, Labcorp highlighted results from two studies at the 2024 SGO Annual Meeting on Women's Cancer. The trials demonstrate how biomarker testing can help close testing gaps and guide tailored therapy for patients with epithelial ovarian cancer (EOC). The study highlights the need for thorough biomarker testing in furthering the treatment of ovarian cancer. These findings confirm that access to modern technology, combined with collaboration with partners who share a dedication to the most recent care models, provides the foundation for developing breakthrough diagnostic tools.
Earlier in 2023, the company forged a partnership with ImmunoGen on an immunohistochemistry-sponsored testing program to increase access for patients with ovarian cancer. Labcorp added HER2 low reporting to the IC test, which is the only FDA-approved companion diagnostic of HER2 status for patients with metastatic breast cancer.
Price Performance
In the past year, LH’s shares have gained 7.2% compared with the industry’s rise of 11.9%.
Zacks Rank and Key Picks
Labcorp currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are Stryker Corporation (SYK - Free Report) , Cencora, Inc. (COR - Free Report) and Cardinal Health (CAH - Free Report) .
Stryker, carrying a Zacks Rank #2 (Buy), reported a fourth-quarter 2023 adjusted EPS of $3.46, beating the Zacks Consensus Estimate by 5.8%. Revenues of $5.8 billion outpaced the consensus estimate by 3.8%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stryker has an estimated earnings growth rate of 11.5% for 2025 compared with the S&P 500’s 9.9%. The company’s earnings surpassed estimates in each of the trailing four quarters, the average being 5.1%.
Cencora, carrying a Zacks Rank #2, reported a first-quarter fiscal 2024 adjusted EPS of $3.28, which beat the Zacks Consensus Estimate by 14.7%. Revenues of $72.3 billion outpaced the Zacks Consensus Estimate by 5.1%.
COR has an earnings yield of 5.75% compared with the industry’s 1.85%. The company’s earnings surpassed estimates in each of the trailing four quarters, the average being 6.7%.
Cardinal Health, carrying a Zacks Rank #2, reported second-quarter fiscal 2024 adjusted earnings of $1.82, which beat the Zacks Consensus Estimate by 16.7%. Revenues of $57.45 billion improved 11.6% on a year-over-year basis and also topped the Zacks Consensus Estimate by 1.1%.
CAH has a long-term estimated earnings growth rate of 15.3% compared with the industry’s 11.8% growth. The company’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 15.6%.