Cancer Genetics Expands Its Market Share In Immuno-Oncology Focused Clinical Studies

Cancer Genetics, Inc.

revealed that it was actively testing and providing data for 12 Immuno-Oncology (IO) clinical trials and 3 academic collaborations. As a result, it was expanding its market share in the field. According to the company, the studies focus on solid tumors including lung, ovarian, head and neck, breast, urothelial and blood cancers. That included lymphomas and multiple myeloma. Cancer Genetics said that its sites were both actively involved in delivering comprehensive immune marker and genomic data to support patient sub-typing. Aside from that, its monitoring could help in the identification of targeted therapies for cancer patients. The company's CEO and President, Panna Sharma, said that "We started 2016 by actively providing PDL1 and PD1 data for three clinical trials and we are now actively supporting 12 clinical trials that we expect to ramp throughout 2016 and into 2017. We invested into diversifying our capabilities and technologies so that we could provide data and technology for genome, transcriptome and immune markers for subtyping, monitoring and response characterization in an therapeutic era where IO trials are rapidly increasing and changing patient outcomes." He continued to add that "At this moment in time, personalized medicine is experiencing one of its brightest moments. Progressive therapies that identify biomarkers and improve outcomes for patients while managing costs are fueling the cancer care sector and CGI is at the center of this movement." According to Cancer Genetics, Immuno-oncology drugs were among the most effective types of cancer treatments currently demonstrating success rates of 20 - 30 percent in some targeted patients. The company added that the field of immuno-oncology was a highly promising area of medicine with healthcare analysts projecting over $35 billion in annual global sales for immuno-oncology drugs by 2024. That was based on market research firm IMS Health. On Wednesday, the stock traded 3.7% lower.