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Thermo Fisher Unveils Suite of Hematology-Oncology Solutions

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Thermo Fisher Scientific, Inc. (TMO - Free Report) recently launched  a portfolio of hematology-oncology assays for the Ion Torrent Genexus System designed to enable reduction in turnaround time for next-generation sequencing (NGS) results to less than 24 hours.

The newly-launched portfolio should boost the company’s NGS profile.

More About the New Assay Portfolio

The Oncomine Myeloid Assay GX is the first in a series of clinical research assays available from the new portfolio of hematology-oncology solutions. The new panel enables simultaneous analysis of DNA mutations and RNA fusion transcripts in myeloid samples in a single day. Additionally, it equips researchers with the ability to profile 40 DNA targets and 29 fusion driver genes, helping them detect more than 600 fusion isotypes to identify biomarkers associated with myeloproliferative neoplasm (MPN), acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS).

Significance of NGS in Healthcare

Thermo Fisher remains committed toward offering solutions that will help customers generate answers far more quickly in areas where NGS can make significant difference with respect to the future of healthcare. The company will continue to focus on innovation through expansion of its portfolio of assays and make NGS accessible as heme-oncology is yet another critical sector in need of it.

Notably, Thermo Fisher intends to launch additional hematology-oncology clinical research assays for B-cell and T-cell clonality and somatic hypermutation assessment. Moreover, Thermo Fisher will unveil a lymphoid gene panel covering an elaborate set of targets relevant for a range of lymphoid neoplasms. All assays will be available for the Genexus System, the first fully-integrated NGS platform to display an automated workflow that generates outcomes economically in a single day.

Recent Development

In August 2020, the company launched its next-generation Thermo Scientific Apreo 2 Scanning Electron Microscope (SEM), a high-performance field emission SEM that enhances the level of automation by offering easy-to-obtain nanometer-scale information at a range of working distances and operating conditions. The Apreo 2 was designed to help researchers, SEM operators and lab managers offer proficient results, regardless of experience level.  This is also expected to boost the company’s NGS portfolio.

Market Prospects

Per a report by Grand View Research, the global NGS market size was estimated at $9.78 billion in 2019 and is projected to see a CAGR 11.7% during 2020-2027. Hence, the launch of this assay is well-timed.

Price Performance

Over the past year, shares of the company have gained 58.6% compared with the industry’s growth of 24.5%.

Zacks Rank and Other Key Picks

Thermo Fisher currently sports a Zacks Rank #2 (Buy).

A few other top-ranked stocks from the broader medical space include OPKO Health (OPK - Free Report) , Surmodics (SRDX - Free Report)  and Merit Medical Systems (MMSI - Free Report) .

OPKO Health’s long-term earnings growth rate is estimated at 12%. The company presently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1  Rank (Strong Buy) stocks here.

Surmodics’ long-term earnings growth rate is estimated at 10%. The company presently carries a Zacks Rank #2.

Merit Medical Systems’ long-term earnings growth rate is estimated at 11.9%. It currently carries a Zacks Rank #2.

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