Interpace Biosciences Inc Stock Price, News & Analysis

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.

Interpace Biosciences reported its 2021 financial results, revealing a 28% increase in net revenue to $41.3 million. The fourth quarter also showed 13% growth in net revenue at $10.9 million. The company improved its net loss to $(14.9 million), up from $(26.5 million) in 2020. Cash collections surged by 31% to $43.1 million, and gross profit margins improved significantly. Despite challenges with insurance reimbursements for their Thyroid tests, CMS has confirmed retroactive billing adjustments for 2022. Interpace aims for continued growth and efficiency in 2022.

Interpace Biosciences (OTCQX: IDXG) announced a policy update from the National Correct Coding Initiative (NCCI), allowing them to bill for the ThyGeNEXT and ThyraMIR tests under the Laboratory Coverage Determination (LCD) retroactively from January 1, 2022. This decision alleviates potential financial impacts on the company for 2022, as stated by CEO Tom Burnell, who emphasized the importance of preventing beneficiary access issues for Medicare-covered thyroid testing.