- NeoGenomics Inc's NEO CEO Mark Mallon will step down as CEO and member of the Board, effective immediately.
- The Board has retained Russell Reynolds to search for the Company's next CEO
- The Board has appointed current Chair Lynn Tetrault, Esq. as Executive Chair and established an Interim Office of the CEO.
- Read Next: Guardant Health Will Not Go With NeoGenomics Deal: Bloomberg.
- The Company expects revenue for Q1 2022 to be below the low end of its prior guidance of $118 - $120 million, and EBITDA for Q1 2022 will be below the low end of its previous guidance of $(15) - $(12) million.
- The larger than anticipated EBITDA loss was primarily driven by higher than expected Clinical Services' cost of goods sold.
- NeoGenomics has withdrawn its 2022 annual financial guidance issued in February.
- Price Action: NEO shares are 32.1% lower at $12.07 on the last check Tuesday.
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