Welcome to our dedicated page for Interpace Biosciences news (Ticker: IDXG), a resource for investors and traders seeking the latest updates and insights on Interpace Biosciences stock.
Interpace Biosciences Inc. (IDXG) is a pioneering company dedicated to enhancing patient care through state-of-the-art molecular diagnostic testing. Focused primarily on oncology, Interpace develops and provides unparalleled molecular diagnostic tests to improve diagnosis and treatment outcomes for patients facing cancer. The company leverages advanced mutational analysis to help stratify risk for thyroid, pancreatic, and other cancers, enabling healthcare providers to make more informed treatment decisions and avoid unnecessary surgeries.
Interpace's diagnostic tests are grounded in rigorous, validated science, offering high accuracy and clarity. Their innovative testing methods are designed to assess cancer risk more accurately, providing critical insights that aid in the management and progression of the disease. By delivering these cutting-edge diagnostics, Interpace is playing a crucial role in the future of molecular diagnostics.
Recently, Interpace Biosciences has been involved in several key projects to expand its diagnostic capabilities and partnerships. These efforts aim to broaden their test offerings and improve the overall reliability and efficiency of cancer diagnostics. The company is also focusing on financial stability and growth, ensuring that it continues to provide top-tier diagnostic solutions in the healthcare sector.
Interpace Biosciences' mission is to empower clinicians with the tools they need to combat cancer effectively, thereby improving patient outcomes and transforming the landscape of cancer diagnosis and treatment.
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.
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