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Interpace Biosciences Inc (IDXG) delivers molecular diagnostic innovations that transform cancer risk assessment through advanced mutational analysis. This news hub provides investors and healthcare professionals with essential updates on the company’s scientifically validated testing solutions.
Access real-time announcements covering regulatory milestones, clinical study results, and strategic partnerships. Our curated collection includes press releases on thyroid/pancreatic cancer test developments, technology validations, and operational updates directly impacting diagnostic precision.
Key updates focus on IDXG’s progress in reducing unnecessary surgeries through risk-stratified diagnostics, with verified clinical outcomes. Track developments in genetic marker identification, laboratory accreditations, and peer-reviewed research collaborations.
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Interpace Diagnostics, a subsidiary of Interpace Biosciences (OTCQX: IDXG), announced an undefined extension of Medicare coverage for PancraGEN, their molecular diagnostic test for pancreatic cyst cancer risk assessment. The Centers for Medicare & Medicaid Services (CMS) granted Novitas, their Medicare Administrative Contractor, an extension for the final decision on Local Coverage Determination (LCD) of Genetic Testing for Oncology (L39365), which includes PancraGEN.
PancraGEN has been used to risk-stratify pancreatic cysts for nearly 70,000 patients since 2013, helping to reduce unnecessary surgeries. The company emphasizes the test's importance in providing a complete picture of malignancy risk, as first-line diagnostic tests often fall short. Interpace plans to challenge the proposed LCD and request its retirement to ensure continued access to PancraGEN for physicians and patients.
Interpace Diagnostics announced new data on advanced sequencing technologies for pancreatic cancer detection, published as an e-abstract at the 2024 ASCO Annual Meeting. The findings, detailed in Abstract e16359, emphasize the role of short tandem repeats (STRs) in cancer biology. The study compares traditional methods like capillary electrophoresis (CE) with newer technologies such as second-generation short-read sequencing (NGS) and third-generation long-read sequencing (TGS). While CE remains the gold standard for STR analysis, NGS faces challenges in accuracy. This research underscores the importance of sequencing platform selection and highlights its impact on understanding cancer mechanisms.
Interpace Biosciences, Inc. announced Q1 2024 financial results with a $10.3 million revenue, a 4% YoY increase, and a 10% test volume growth. Operating expenses decreased by 2%, with income from continuing operations at $0.6 million. The company experienced record test volume, cash collections, and profitability, fuelled by increased adoption of molecular diagnostics tests. Despite a slight decrease in gross profit percentage and adjusted EBITDA, the company maintained a strong financial position with $2.8 million cash balance.
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.
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