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) 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 Biosciences (NASDAQ: IDXG) announces a strategic restructuring plan to enhance growth and shareholder value amidst challenges, including a potential Nasdaq delisting due to stockholders' equity deficits. New CEO Thomas Burnell emphasizes operational efficiencies, cost reductions of $7.2 million, and improved reimbursement strategies as key initiatives. The company aims to transition to OTCQX if delisted, allowing focus on strategic growth without minimum equity requirements. Despite the difficulties posed by COVID-19, Interpace remains committed to advancing diagnostics and therapeutics, seeking to solidify its position in personalized medicine.
Interpace Biosciences (NASDAQ: IDXG) announced the appointment of Tom Freeburg as its new Chief Financial Officer, effective February 1, 2021. Freeburg, who has been with the company since 2017, succeeds Fred Knechtel. With over 20 years of financial experience, he has previously led various financial functions at Interpace. CEO Thomas Burnell expressed confidence in Freeburg's ability to steer the company toward growth and enhance shareholder value through advanced diagnostics and personalized medicine.
Interpace Biosciences has secured an exclusive license for the Das-1 monoclonal antibody platform from Rutgers and Massachusetts General Hospital, aimed at improving risk assessment for pancreatic cysts. The Das-1 antibody shows promise in identifying cysts that may develop into cancer, boasting high sensitivity and specificity compared to existing methods. This agreement enhances the company's flagship product, PancraGEN®, which has already been used in over 40,000 assessments. The development is viewed as a significant step in personalized medicine for pancreatic cancer risk management.
Interpace Biosciences, Inc. (NASDAQ: IDXG) announced a contract with Blue Cross Blue Shield of Florida, making its ThyGeNEXT® and ThyraMIR® tests in-network services for 5 million members starting January 1, 2021. This agreement follows previous coverage established in 2018, enhancing accessibility for patients with indeterminate thyroid nodules. CEO Tom Burnell highlighted the positive trend among Blue Cross Blue Shield plans toward covering and contracting these molecular tests, which improve cancer risk assessment and decision-making.
Interpace Biosciences (NASDAQ: IDXG) will hold its Q3 2020 financial results conference call on January 21, 2021, at 4:30 p.m. ET. The call aims to provide updates on the company’s financial performance. Participants can join via dial-in numbers provided, with international options available. A webcast will also be accessible approximately two hours post-call and archived for 90 days. Interpace focuses on personalized medicine, offering diagnostic tests and services to improve cancer diagnosis and management.
Interpace Biosciences (IDXG) reported a third quarter net revenue of $8.2 million, a 7% increase year-over-year, and year-to-date revenue of $22.8 million, up 14%. The company anticipates fourth quarter revenue between $9.0 and $10.0 million, supported by improved clinical volumes and higher reimbursement rates. Additionally, a $5 million bridge loan was secured from existing investors. However, the net loss from continuing operations widened to $(6.2) million, while adjusted EBITDA improved to $(2.9) million. Upcoming shifts include vacating its New Jersey facility by March and continued reimbursement strategy enhancements.
Interpace Biosciences (NASDAQ: IDXG) announced the retirement of CEO Jack Stover effective December 31, 2020. He is succeeded by Thomas Burnell, PhD, starting December 1, 2020. Burnell brings extensive leadership experience in healthcare, previously leading companies like Boston Heart Diagnostics and Viracor-IBT Laboratories. Stover will assist during the transition until mid-2021. The board appreciates Stover's contributions, positioning the company for growth in personalized medicine through cancer diagnostics and pharma services.
On November 18, 2020, Interpace Biosciences (NASDAQ: IDXG) received notification from Nasdaq regarding a delay in filing its Form 10-Q for the quarter ending September 30, 2020. The company currently does not meet Nasdaq Listing Rule 5250(c)(1) requirements. However, this deficiency does not immediately affect its stock listing. Interpace has 60 days to submit a compliance plan and up to 180 days to file the report if granted additional time. The company is actively working to address the filing issue.
Interpace Biosciences (NASDAQ: IDXG) announces the publication of a study in Diagnostic Cytopathology, showcasing the performance of ThyGeNEXT® and ThyraMIR® in indeterminate thyroid nodules. The study reveals that their combined testing achieves a high positive predictive value (PPV) and comparable negative predictive value (NPV) against other tests. With 25% of thyroid nodule FNAs being indeterminate, this testing aids in better risk stratification for patients. Both tests are covered by Medicare and major insurers.
Interpace Biosciences, Inc. (Nasdaq: IDXG) reported a year-to-date net revenue of $14.6 million, a 19% increase compared to the prior year. However, second quarter revenue fell to $5.4 million, reflecting a 13% decrease influenced by COVID-19. Despite this, the company achieved record bookings of $9 million in pharma services. An audit found previous claims unsubstantiated. The company is managing a financial covenant violation but received a waiver and is exploring options for reinstatement. Third quarter revenue is projected between $7.5 million and $7.8 million.
