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OPKO Health's BioReference Laboratories Introduces NGS Assay

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OPKO Health, Inc.’s (OPK - Free Report) BioReference Laboratories, Inc. along with its specialty oncology division, GenPath, recently launched OnkoSight Advanced. It is a next-generation sequencing (NGS) assay that facilitates revolutionary deoxyribonucleic acid (DNA) mutational profiling of tumor samples.

This NGS assay is expected to boost OPKO Health’s Diagnostics segment.

More on OnkoSight Advanced

OnkoSight Advanced NGS testing offers targeted gene content that complies with the latest National Comprehensive Cancer Network (NCCN) and WHO guideline recommendations to provide crucial insights into many of the most common cancer types. Moreover, each OnkoSight Advanced panel includes key biomarkers viz. Tumor Mutation Burden (TMB) and Tumor-Only Microsatellite (MSI). These biomarkers are instrumental in the profiling of advanced stage tumor malignancies to guide potential immunotherapy.

OnkoSight Advanced NGS panels are tumor-type specific and optimized to exclude extraneous gene content, thereby significantly enhancing clinical actionability and relevance of the data to proficiently guide real-world oncology patient management.

Together with BioReference and GenPath's elaborate oncology test menu, OnkoSight Advanced enables physicians to make informed decisions with efficiency.

This new launch from BioReference's oncology segment highlights the company’s commitment toward offering swift patient-centric care via industry-leading result turnaround time with enhanced precision.

Recent Development

In August 2020, GeneDx, Inc., a subsidiary of BioReference Laboratories, inked an agreement with Pediatrix Medical Group (“Pediatrix”), the nation’s leading provider of maternal-fetal, and pediatric medical and surgical subspecialty physician services. The goal of this collaboration is to offer advanced, next-generation genomic sequencing to support clinical diagnosis in neonatal intensive care units (“NICUs”) staffed by Pediatrix’s affiliated neonatologists.

Market Prospects

Per a report by Allied Market Research, the global NGS market size was valued at $4.53 billion in 2018 and is anticipated to reach $18.56 billion by 2026, at a CAGR of 19.2%. Hence, this launch is a well-timed one.

Price Performance

Over the past three months, the stock has rallied 44.1% compared with the broader industry’s growth of 19.2%.

Zacks Rank & Other Stocks to Consider

OPKO Health currently carries a Zacks Rank #2 (Buy).

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

NextGen’s long-term earnings growth rate is estimated at 8%. 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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