Core Insights - Quest Diagnostics has launched a novel blood test called Quest Flow Cytometry MRD for Myeloma, which offers sensitivity comparable to next-generation sequencing (NGS) methods for detecting measurable residual disease (MRD) in myeloma patients at a lower cost [1][4]. Company Overview - Quest Diagnostics is a leading provider of diagnostic information services, with a focus on oncology testing, including the new MRD test for myeloma and the Haystack MRD® test for solid tumors [6][8]. - The company operates approximately 7,000 phlebotomy sites across the United States, enhancing patient access to diagnostic testing [2]. Industry Context - Myeloma is a prevalent blood cancer with about 36,000 new cases diagnosed annually in the U.S., leading to nearly 11,000 deaths each year [3]. - The new test utilizes advanced flow cytometry techniques, providing a noninvasive alternative to traditional bone marrow aspirates, which is significant for patient care [4]. Test Features and Benefits - The Quest Flow Cytometry MRD for Myeloma test features five-day specimen stability, allowing for better logistics in specimen transport compared to conventional methods [4]. - The test is designed to be used even when a baseline aspirate sample is unavailable, unlike NGS methods that require such a reference [4]. Clinical Implications - The test is expected to improve treatment paradigms for myeloma patients and may serve as a response monitoring tool in clinical trials, aligning with recent FDA guidance on using MRD as a primary endpoint [5].

Core Insights - Quest Diagnostics announced the sharing of data on circulating tumor DNA (ctDNA) minimal residual disease (MRD) testing at the 2026 ASCO Gastrointestinal Cancers Symposium, highlighting the significance of ctDNA in colorectal cancer detection [1] Group 1: Poster Presentations - The first poster presentation focuses on the reproducibility and clinical concordance of a tumor-informed MRD assay in patients with resected colorectal cancer from the DYNAMIC Trials, led by Jeanne Tie [2] - The second presentation discusses the use of ctDNA to monitor patients undergoing total neoadjuvant treatment for locally advanced rectal adenocarcinoma, led by Eric Christenson [2] Group 2: Importance of ctDNA MRD Testing - ctDNA-based MRD testing is increasingly recognized for its ability to identify residual or recurring cancer in solid tumors, providing molecular evidence of disease recurrence months before conventional methods [3] - A recent survey indicated that 96% of oncologists believe MRD testing can identify cancer recurrence earlier than current methods [3] Group 3: About Haystack Oncology - Haystack Oncology, a subsidiary of Quest Diagnostics, has developed the Haystack MRD test, which detects ultralow levels of ctDNA with high sensitivity and specificity [4] - The test is available for commercial use as a lab-developed test and is also utilized in clinical trials as an investigational device in multiple international locations [4]

Core Insights - Quest Diagnostics reported a strong financial performance for Q3 2025, with revenues increasing by 13.1% year-over-year, driven by organic growth of 6.8% and contributions from acquisitions [2][6] - The company has raised its full-year 2025 guidance due to robust year-to-date performance [2][5] Financial Performance - Q3 2025 net revenues reached $2.82 billion, up from $2.49 billion in Q3 2024, marking a 13.1% increase [4] - Diagnostic Information Services revenues were $2.76 billion, a 13.5% increase from $2.43 billion in the previous year [4] - Operating income for Q3 2025 was $386 million, an increase of 16.8% compared to $330 million in Q3 2024 [4] - Net income attributable to Quest Diagnostics was $245 million, up 8.5% from $226 million in Q3 2024 [4] - Diluted EPS for Q3 2025 was $2.16, reflecting an 8.5% increase from $1.99 in Q3 2024 [4] Year-to-Date Performance - Year-to-date cash provided by operations was $1.42 billion, a significant increase of 63.1% from $870 million in the same period last year [6] - For the first nine months of 2025, net revenues totaled $8.23 billion, up 13.5% from $7.25 billion in 2024 [4] Updated Guidance - The updated guidance for full-year 2025 includes net revenues projected between $10.96 billion and $11.00 billion, an increase from the previous range of $10.80 billion to $10.92 billion [5] - Reported diluted EPS is now expected to be between $8.58 and $8.66, while adjusted diluted EPS is projected to be between $9.76 and $9.84 [5][6] Strategic Developments - Quest Diagnostics entered into a joint venture with Corewell Health to provide lab services in Michigan, with expected annual revenues for Co-Lab Solutions reaching approximately $1 billion [2][7] - The company completed the acquisition of dialysis testing assets from Fresenius Medical Care, enhancing its clinical lab testing capabilities [7] - Collaborations with WHOOP and URA Health aim to integrate Quest's services into wellness and preventive health applications [7]