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THERMO FISHER SCIENTIFIC

(TMO)
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Delayed Nyse  -  04:00 2022-11-29 pm EST
539.75 USD   -0.05%
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Thermo Fisher Scientific Launches CE-IVD Next-Generation Sequencing Test and Analysis Software to Expand Access to Precision Oncology Biomarker Testing

08/30/2022 | 09:04am EST

CARLSBAD - Next-generation sequencing (NGS) is quickly becoming the platform of choice for tumor molecular profiling due to its ability to simultaneously report on multiple biomarkers.

However, lengthy turnaround times can limit the clinical utility of these results. To meet the need for rapid genomic insights, Thermo Fisher Scientific today launched the CE-IVD (IVDD) Oncomine Dx Express Test and Oncomine Reporter Dx for use in clinical labs.

Using targeted NGS technology, the Oncomine Dx Express Test delivers clinically relevant tumor mutation profiling in as little as 24 hours to aid healthcare professionals, in accordance with professional guidelines, in therapy management of cancer patients. The qualitative in vitro diagnostic (IVD) test detects deletions, insertions, substitutions and copy number gain present in 42 genes and fusions or splicing variants in 18 genes from DNA and RNA in FFPE tumor tissue samples of solid malignant neoplasms. This assay also detects deletions, insertions, substitutions in 42 genes and fusions or splicing variants in seven genes from cfTNA extracted from plasma samples of non-small cell lung cancer (NSCLC). The assay requires minimal sample input, maximizing sample success rates.

The Oncomine Reporter Dx software ensures healthcare providers can quickly assess the genomic test results. The software matches the variant data to relevant evidence including approved therapies, guidelines, clinical trials and peer reviewed literature in a user-friendly and customizable report.

'Genomic profiling in precision oncology is transforming cancer care, but true clinical utility hinges on timely, actionable results,' said Garret Hampton, president, clinical next-generation sequencing and oncology at Thermo Fisher Scientific. 'By delivering an IVD NGS solution that provides rapid results with minimal training and hands-on time, we're working to make these insights available in any lab or hospital to help connect patients to precision oncology treatments.'

The new NGS assay and genomic reporting software, along with the recently launched Ion Torrent Genexus Dx Integrated Sequencer, offer an automated end-to-end CE-IVD workflow. Operated from a single software interface, the overall process includes less than 20 minutes of hands-on time, delivering results with unprecedented rapid turnaround time. The workflow enables any lab to bring the power of genomic testing in-house, improves access to patients and advances precision oncology for those who stand to benefit most.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue of approximately $40 billion. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, increasing productivity in their laboratories, improving patient health through diagnostics or the development and manufacture of life-changing therapies, we are here to support them. Our global team delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon and PPD.

Contact:

Mauricio Minotta

Tel: 760-805-5266

Email: mauricio.minotta@thermofisher.com

(C) 2022 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2022 43 842 M - -
Net income 2022 6 919 M - -
Net Debt 2022 24 995 M - -
P/E ratio 2022 30,8x
Yield 2022 0,22%
Capitalization 213 B 213 B -
EV / Sales 2022 5,42x
EV / Sales 2023 5,31x
Nbr of Employees 130 000
Free-Float 88,9%
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Number of Analysts 24
Last Close Price 539,75 $
Average target price 615,69 $
Spread / Average Target 14,1%
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Marc N. Casper Chairman, President & Chief Executive Officer
Stephen Williamson Chief Financial Officer & Senior Vice President
Ryan Snyder Chief Information Officer & Senior Vice President
Alan B. Sachs Chief Medical Officer
Karen E. Nelson Chief Scientific Officer
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