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 molecular diagnostics company whose news flow centers on personalized medicine, thyroid cancer testing, and capital structure developments. Through its Interpace Diagnostics subsidiary, the company reports on clinical use of its molecular diagnostic tests, particularly its thyroid-focused platform built around ThyGeNEXT and ThyraMIRv2, as well as on financial performance and strategic responses to reimbursement changes.
News updates frequently include quarterly and annual financial results, where Interpace discusses net revenue, test volumes, cash collections, gross profit metrics, and non-GAAP measures such as Adjusted EBITDA. These releases often highlight trends such as record thyroid test volume, growth in thyroid-related revenue, and the impact of operational initiatives, including the use of AI and automation in laboratory processes as described by the company.
Investors and clinicians following IDXG news will also see regulatory and reimbursement announcements, such as company responses to Medicare Local Coverage Determinations affecting its PancraGEN test and the resulting restructuring toward a thyroid-only diagnostics business. Interpace’s communications explain how coverage decisions influence its test portfolio and outline its plans to remain sustainable and profitable based on its thyroid testing franchise.
Another key category of news involves scientific and clinical data presentations. Interpace reports on posters and studies presented at professional meetings, including large real-world analyses of ThyGeNEXT and ThyraMIRv2 in indeterminate thyroid nodules and institutional experiences using archival cytology slides. These items describe how the company’s combination platform refines malignancy risk and supports physician decision-making, according to the data presented.
Capital and balance sheet updates also feature in IDXG news, including announcements about early repayment of a term loan facility with BroadOak Capital Partners. Readers who monitor this page can review a chronological record of these financial, clinical, and strategic developments as disclosed by Interpace in its press releases.
Interpace Biosciences (IDXG) reported strong Q3 2024 financial results with record-breaking performance. Revenue reached $12.3 million, up 35% year-over-year, while test volume increased 26%. The company achieved $11.3 million in cash collections, a 15% increase from Q3 2023. Operating costs per test decreased by 11%, and gross profit margin improved to 61%. Income from continuing operations was $1.4 million, marking a $1.9M improvement from the previous year. The company's molecular diagnostics tests showed double-digit growth, marking the eighteenth consecutive quarter of year-over-year volume growth. Management indicated plans to seek additional capital and pursue Nasdaq listing.
Interpace Biosciences (OTCQX: IDXG) has announced a capital restructuring of its preferred stock as a first step towards seeking an uplisting of its common stock to Nasdaq. The company's Series B Preferred Stock investors, Ampersand Capital Partners and 1315 Capital, have exchanged their existing 47,000 shares for newly created Series C Preferred Stock.
The new Series C Preferred Stock has a conversion price of $2.02 into common stock and will automatically convert upon a Nasdaq uplisting. It eliminates certain rights associated with the Series B stock, including liquidation preference, director designation rights, and specific protective voting rights.
This restructuring is aimed at adjusting Interpace's capital structure to facilitate raising growth capital. The company believes a Nasdaq listing would help in raising additional capital, increasing investor interest, and pursuing acquisitions.
Interpace Biosciences (OTCQX: IDXG) reported record Q2 2024 financial results, with revenue reaching $12.0 million, a 9% increase year-over-year. Key highlights include:
- Test volume up 12% to record levels
- Cash collections increased 7% to $11.0 million
- Income from continuing operations improved to $2.1 million
- Operating expenses reduced by 14% compared to Q2 2023
The company's growth was driven by increased adoption of its proprietary molecular diagnostics tests. Adjusted EBITDA rose to $2.3 million, up from $1.3 million in the prior-year quarter. Despite a lower cash balance of $2.0 million due to $4.6 million in debt repayment, Interpace achieved its sixteenth consecutive quarter of year-over-year volume growth.
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.
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