Interpace Biosciences Inc Stock Price, News & Analysis

Interpace Biosciences (OTCQX: IDXG) has revised its full-year 2021 revenue guidance to between $42 million and $44 million, outperforming previous estimates of $38 million to $40 million. This reflects an expected increase of approximately 30% to 36% compared to 2020 revenues. CEO Thomas W. Burnell noted that enhanced clinical volume and improved reimbursements contributed to this growth. The company aims for EBITDA break-even by the end of 2021, with additional details to be shared in May.

Interpace Pharma Solutions, a subsidiary of Interpace Biosciences (OTCQX: IDXG), has introduced a new capability for RNA biomarker analysis using RNAscope® in situ hybridization (ISH). This innovative technology offers high sensitivity and specificity, allowing for the visualization and quantification of gene expression within intact tissue architecture. Thomas Burnell, President and CEO, emphasizes its broad applications in immune checkpoint target identification and CAR-T product delivery. Additionally, Interpace provides various molecular diagnostic tests through its clinical services.

On April 5, 2021, Interpace Biosciences (OTCQX: IDXG) announced that Novitas, its Medicare Administrative Contractor, has recognized a new Proprietary Laboratory Analysis (PLA) code for its ThyGeNEXT test, specifically code 0245U. This code offers a significant reimbursement increase from $560 to $2,919. The enhancement reflects the revised local coverage determination for the test's mutation panel. In 2020, approximately 15,000 ThyGeNEXT tests were processed for over 700 physicians, making this development crucial for enhancing financial value and test recognition.

Interpace Biosciences reported a 34% increase in net revenue for 2020, totaling $32.4 million, driven by the pharma services sector. The fourth quarter saw a remarkable 129% revenue growth year-over-year, reaching $9.6 million. The company aims for a full-year revenue of $38 million to $40 million in 2021 and plans to achieve EBITDA breakeven by year-end. CEO Thomas Burnell highlighted significant savings and operational efficiency improvements, while CFO Tom Freeburg noted a positive impact from enhanced reimbursement rates and growing clinical services volume.

Interpace Biosciences, Inc. (OTC: IDXG) announced the sale of its New Haven, CT laboratory to DiamiR Biosciences. This move aligns with the company's restructuring and cost-saving strategies, aiming for EBITDA and cash flow break-even in 2021. DiamiR will provide overflow lab testing for Interpace’s molecular thyroid products and support assay development for the next three quarters. The transaction is expected to close by the end of April 2021, although financial terms have not been disclosed.

Interpace Biosciences announced the expansion of its partnership with XIFIN to deploy the XIFIN RPM 12 revenue cycle management solution across all diagnostics testing services. This collaboration aims to achieve significant cost savings and optimize billing and collections as the company continues to recover from disruptions caused by the COVID-19 pandemic. With routine cancer testing volumes exceeding pre-pandemic levels, the commitment to enhanced financial performance and streamlined operations is expected to strengthen Interpace’s market position.

Interpace Biosciences has secured in-network coverage for its thyroid tests, ThyGeNEXT® and ThyraMIR®, with Blue Cross Blue Shield of Illinois, effective February 25, 2021. This partnership marks a significant milestone, as BCBS of Illinois is the largest health plan in Illinois, covering over 8 million lives. Additionally, Interpace has contracts with 19 health plans nationwide, enhancing the adoption of its thyroid diagnostics. Both tests offer advanced genetic analysis for thyroid cancer, potentially benefiting millions of patients with indeterminate thyroid nodules.

On February 24, 2021, Interpace Biosciences (OTCQX: IDXG) announced it has met the requirements to trade on the OTCQX Best Market starting February 25, 2021. Previously listed on Nasdaq, the OTCQX offers cost-effective and flexible trading options. Tom Burnell, CEO, expressed optimism about this transition. OTCQX is designed for established companies meeting high financial standards and corporate governance best practices. Interpace offers personalized medicine services, including molecular diagnostic tests for cancer and pharmacogenomics testing for the pharmaceutical industry.

Interpace Biosciences (OTCQX: IDXG) announced its transition to the OTCQX Best Market, effective February 25, 2021. This move aims to enhance trading conditions and provide investors with more transparent trading opportunities. The OTCQX market requires companies to meet high financial standards and governance practices. Interpace specializes in personalized medicine, offering molecular diagnostic tests and bioinformatics services, and operates in both clinical and pharma services.