INTERPACE BIOSCIENCES INC - IDXG STOCK NEWS

Interpace Biosciences, Inc. (OTCQX: IDXG) reported Q4 2022 Net Revenue of $8.3 million, down 9% from Q4 2021. The company achieved a 60% Gross Profit percentage, improving from 55% the previous year. Operating income reached $0.1 million, bouncing back from a loss of $(1.4) million in Q4 2021. Loss from continuing operations decreased to $(1.4) million from $(1.7) million. For the full year, Net Revenue was $31.8 million, a 4% decline due to a reimbursement rate drop. However, loss from continuing operations improved to $(5.9) million compared to $(7.0) million in 2021.

Interpace Biosciences reported Q3 2022 net revenue of $8.2 million, a 2% increase year-over-year. Adjusted EBITDA was positive at $0.1 million, highlighting operational improvement. Operating expenses were down 12% compared to the previous year, contributing to a loss from continuing operations of $1.3 million, slightly better than Q3 2021. Cash and cash equivalents stood at $6.3 million. Despite challenges from the ThyGeNEXT pricing change, the company noted record testing volumes over the last two quarters.

Interpace Biosciences (OTCQX: IDXG) announced new clinical utility data for its ThyGeNEXT® + ThyraMIR®v2 test platform. The findings, presented at the American Thyroid Association (ATA) 2022 Annual Meeting, demonstrate the platform's effectiveness in assessing malignancy risk in indeterminate thyroid nodules (ITN). Key results include improved accuracy, a decreased false-positive rate, and a 70% benign call rate, potentially reducing unnecessary surgeries for patients. CEO Tom Burnell reaffirmed the company's commitment to personalized medicine.

Interpace Biosciences (OTCQX: IDXG) announced new clinical validation data on its ThyraMIR v2 test, enhancing risk stratification of indeterminate thyroid nodules (ITN). The data shows improved diagnostic accuracy, with the area under the ROC curve increasing from 0.85 to 0.97 (p<0.001) and specificity rising significantly. This advance suggests a higher positive predictive value (PPV) and negative predictive value (NPV), with 87% of samples showing ≥90% predictive values. The findings were published in the THYROID journal, indicating a promising direction for personalized cancer diagnostics.

Interpace Biosciences (OTCQX: IDXG) has sold its Pharma Services business to Flagship Biosciences, aiming to enhance its focus on molecular diagnostics. The transaction, which closes with significant operational shifts, is expected to improve operating cash flow by nearly $5 million annually. This strategic move allows Interpace to allocate resources towards product expansion and enhancing its portfolio of diagnostic solutions for cancer detection. With five commercialized tests, the company emphasizes innovation and growth to benefit clients and shareholders.

Interpace Biosciences (OTCQX: IDXG) reported Q2 2022 revenue of $9.4 million, a 16% decline from the previous year, attributed to a 70% retroactive price decrease on its ThyGeNEXT® test. The net loss for Q2 was $3.9 million, slightly worse than the prior year, despite a $1 million reduction in operating expenses. However, Days Sales Outstanding decreased by 15%, indicating improved cash collection. The company announced a new pancreatic diagnostic test, Point2Glucose™, and published positive clinical validation data for its thyroid cancer tests, enhancing its precision diagnostics capabilities.

Interpace Biosciences reported Q1 2022 revenue of $10.4 million, a 6% increase from the previous year. The net loss improved by $2 million to $(2.2 million). Days Sales Outstanding (DSO) decreased by 27% to 63 days, reflecting better cash collection. The gross profit margin increased to 48%, up from 46% year-over-year. Despite a 4% decline from Q4 2021 due to seasonality, improvements in operational efficiency and collaborations with Twist Bioscience and Miroculus indicate a positive outlook for the company's diagnostic services.

Interpace Biosciences (OTCQX: IDXG) has partnered with Miroculus and Twist Bioscience to enhance next generation sequencing (NGS) library preparation through the use of digital microfluidics technology. This collaboration aims to automate and optimize genetic testing processes for Endocrine and GI cancers, reducing technician involvement and accelerating testing. Interpace's goal is to establish a high-throughput automated facility to improve productivity and decrease costs, leveraging advanced technologies from its partners.