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Interpace Biosciences, Inc. reports news centered on molecular diagnostic testing through Interpace Diagnostics, with a current focus on thyroid cancer risk assessment. The company’s commercial thyroid offering pairs ThyGeNEXT, a next-generation sequencing assay for thyroid nodules, with ThyraMIRv2, a proprietary microRNA expression profiler and algorithmic classifier.
Recurring updates cover thyroid test volume, revenue, cash collections, reimbursement developments, scientific presentations and business results. Company news also includes capital-structure actions such as repayment of outstanding debt, conversion of preferred stock into common stock, and the completed discontinuation of PancraGEN as Interpace shifted to a thyroid-focused diagnostics model.
Interpace Biosciences (Nasdaq: IDXG) announced the conclusion of an independent investigation by its Audit Committee regarding allegations related to employment, billing, and compliance issues. The investigation found no evidence of illegal activities, deeming the complaints unsubstantiated. This follows a notification of late filing for the Form 10-Q for Q2 2020 due to these allegations. Interpace continues its focus on personalized medicine, providing molecular diagnostic tests and pharmacogenomics services to improve patient outcomes.
Interpace Biosciences (NASDAQ: IDXG) announced that a peer-reviewed manuscript detailing results from a major clinical validation study of its ThyGeNEXT® and ThyraMIR® tests has been accepted for publication in Diagnostic Cytopathology. This study involved nearly 200 indeterminate thyroid nodules and was conducted at top medical institutions, including Cedars-Sinai and Massachusetts General Hospital. The company plans to present these significant findings at the American Society of Cytopathology Annual Meeting in November, enhancing its position in the personalized medicine sector.
Interpace Biosciences (Nasdaq: IDXG) reported a 53% increase in net revenue for Q1 2020, reaching $9.2 million, driven by growth in Clinical and Pharma services despite pandemic-related challenges. The gross profit margin fell to 34% from 56% year-over-year due to lower Pharma service margins. Loss from continuing operations widened to $(6.2) million compared to $(3.4) million in Q1 2019. The company is developing COVID-19 serology testing and aims to launch it soon. Q2 revenue is expected between $5.6 million and $6.0 million.
Interpace Biosciences (IDXG) will announce its first quarter 2020 financial results on June 25, 2020, at 4:30 PM ET. The announcement will be followed by a conference call to discuss the results and general business updates. Interested parties can access the call via domestic (+1 877 407-9716) or international (+1 201 493-6779) dial-in numbers, with a confirmation number of 13706101. A replay of the call will be available until July 9, 2020, with web access on the company's website. Interpace specializes in personalized medicine, offering molecular diagnostic tests and pharmacogenomics services.
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