The announcement of new data from the Phase 3 PENELOPE-B study at the 2023 ASCO Annual Meeting has led to a decline in NeoGenomics' share price. This indicates that the market may have had higher expectations for the study results, or that the results may not have been as positive as anticipated. As a result, investors may be concerned about the company's future prospects, leading to a short-term negative impact on the stock price.