Q3 2019 Interpace Diagnostics Group Inc Earnings Call
Interpace Biosciences, Inc. (Nasdaq: IDXG), a leader in enabling personalized medicine, today announced that the Company’s wholly-owned subsidiary, Interpace Diagnostics has entered into a collaborative study aimed at exploring the potential use of BarreGEN® in patients undergoing radiofrequency ablation (RFA). RFA is typically known as a cancer preventative therapy that either delays or arrests the progression of Barrett’s Esophagus to esophageal cancer. Evidence to date suggests that BarreGEN® may identify non-dysplastic Barrett’s Esophagus patients in need of ablation, making targeted ablation a potentially cost-effective treatment option.
Interpace (IDXG) announced today that it will report its third quarter 2019 financial results on Wednesday, November 13, 2019 at 4:30 p.m. ET. Interpace will host a conference call and webcast to discuss the Company’s financial results and provide a general business update. A webcast replay will be available on the company’s website (www.interpacediagnostics.com) approximately two hours following completion of the call and will be archived on the company’s website for 90 days.
Interpace (IDXG) announced today that it will release its financial results for the fourth quarter and full year 2019 this afternoon. Company management will host a conference call and webcast to discuss its financial results and provide a general business update at 5:00 pm today, Wednesday April 22, 2020 at 5:00 p.m. Eastern time. Following the conclusion of the conference call, a replay will be available through May 6, 2020.
Interpace Diagnostics, a subsidiary of Interpace Biosciences (IDXG) announced today that it has entered into a contract with Blue Cross Blue Shield of Massachusetts with over 3 million members in Massachusetts and across New England. The contract expands Interpace’s ThyGeNEXT® and ThyraMIR® thyroid assays as both covered services and now in-network services for BCBS of Massachusetts’ 3 million members and their families. As a result of this Agreement, members of BCBS of Massachusetts can take advantage of the benefits of ThyGeNEXT® and ThyraMIR® testing due to Interpace’s status as an in-network provider.
Ron Rocca, CEO of Exagen, appointed to BoardJames Early, CFO announces retirement; Fred Knechtel, formerly CFO of GENEWIZ, appointed as CFOJeff Salzman, formerly of CareDX,.
Interpace Biosciences, Inc. (Nasdaq: IDXG) today announced that the Center for Medicare and Medicaid Services (CMS) has modified the reimbursement for Interpace Diagnostics’ ThyraMIR® miRNA classifier for evaluating indeterminate thyroid nodules retroactively to January 1, 2020. This determination increases the Medicare reimbursement for ThyraMIR® from approximately $1800 to $3000 reflecting a re-evaluation of the technical and clinical performance of the test relative to other molecular tests in the market and their respective prices. Today, approximately 30% of the Company’s ThyraMIR® volume is attributable to Medicare eligible patients.
Interpace Diagnostics, a subsidiary of Interpace Biosciences (IDXG) announced today that it has entered into a contract with Blue Cross Blue Shield of Massachusetts. While terms of this Agreement are not disclosed, Interpace is an in-network lab with Blue Cross Blue Shield of Massachusetts for all product lines. Interpace continues to expand in-network agreements and medical coverage for its services with leading National and Regional health plans, while maintaining Medicare coverage through Novitas Solutions.
Interpace Biosciences, Inc. (Nasdaq: IDXG) today announced that its Medicare Administrative Contractor (MAC) has issued a new draft local coverage determination (LCD) for the Company’s ThyGeNEXT® test, representing an increase of approximately $2,400 per assay over previous reimbursement coverage. In 2018, Interpace processed approximately 12,500 ThyGeNEXT® tests.
Q4 2019 Interpace Biosciences Inc Earnings Call
Interpace Biosciences, Inc. (IDXG) announced today that its agreement with LabCorp® (LH) has been extended for an additional two years, through January 2022. Interpace and LabCorp initially entered in to their collaboration in 2016 through which LabCorp became the first national laboratory in the U.S. to offer electronic ordering and result reporting for Interpace’s proprietary ThyGeNEXT® and ThyraMIR® tests for thyroid cancer. In 2018, the parties expanded their agreement to support single-source ordering of both an initial thyroid biopsy analysis to be performed by LabCorp, through its Dianon Pathology specialty laboratory, and an automatic reflex to Interpace to perform its tests should the biopsy result be indeterminate.
Interpace Biosciences (IDXG) announced today that its subsidiary, Interpace Diagnostics, has entered into a contract with Avalon Healthcare Solutions (Avalon), a specialty benefit management company with more than 3 million members, focused on laboratory testing. The new contract, whose terms were not disclosed, includes two of the Southeastern U.S.’s largest Blue Cross Blue Shield plans where members can now take advantage of the benefits of ThyGeNEXT® and ThyraMIR® thyroid testing while reducing their out of pocket expenses due to Interpace’s status as an in-network provider. Interpace has successfully achieved positive medical coverage for its services through Medicare as well as other leading national and regional health plans and is now focused on establishing more contracts to optimize the adjudication process.
1315 Capital and Ampersand are two leading private equity firms investing in laboratory services. The new Series B Preferred Stock investment will be convertible into common stock at a conversion price of $0.60 (prior to the reverse stock split).
The article, entitled “Clinical performance of multiplatform mutation panel and microRNA risk classifier in indeterminate thyroid nodules”, will be published online in the coming weeks. The peer-reviewed manuscript will be the first to report the clinical performance of the combination of ThyGeNEXT® and ThyraMIR® in predicting cancer-free survival of patients with indeterminate thyroid nodules. ThyGeNEXT® is an expanded version of the previous NGS-based mutation panel test, ThyGenX®, previously offered by the company.
Third Quarter Revenue Grew 34% Over the Prior Year’s Quarter and 25% Year to Date Acquired BioPharma Business in Partnership with Ampersand Diagnostic Test Volume Grew.
Interpace Group (IDXG) Interpace Diagnostics announced today the publication of two peer-reviewed journal articles and one textbook chapter supporting the clinical utility of ThyGeNEXT® when used alone and in combination with ThyraMIR®. The most recent article was published in Diagnostic Cytopathology in a paper called “Incremental Utility of Expanded Mutation Panel When Used in Combination with MicroRNA Classification in Indeterminate Thyroid Nodules”. The study is now published on the Diagnostic Cytopathology website at https://doi.org/10.1002/dc.24328 and compares results of ThyGenX®, Interpace’s first-generation mutation panel, with ThyGeNEXT®, Interpace’s expanded second-generation mutation panel, showing that the expanded panel provides additional utility when used in combination with ThyraMIR®, Interpace’s microRNA risk classifier.
Interpace (IDXG) announced today that it will be presenting new data on the performance of its molecular thyroid products at the upcoming 89th Annual Meeting of the American Thyroid Association (ATA), being held October 30th to November 3rd, 2019 in Chicago, IL. The ATA meeting is one of the largest gatherings of endocrinologists, ENT’s, surgeons and other providers who focus on the diagnosis and treatment of thyroid cancer.
Interpace Biosciences, Inc. (IDXG) announced today that it is launching its new corporate website, “Interpace.com”. Now both the Diagnostics and Pharma Solutions businesses of Interpace are represented together on one easy to navigate website. The site provides information on the offerings of both divisions including diagnostic and tailored laboratory services testing, patient support, physician education, clinical trial data management, project management, and bioinformatics.
Acquired Biopharma Business of Cancer Genetics in Second Half of 2019 Through Q1-2020 Raised $47 million from Two Top Private Equity FirmsProvides First Quarter 2020 Range of.
Interpace Bioscience’s subsidiary, Interpace Pharma Solutions today announced that it is continuing to expand a previously announced partnership agreement to jointly develop, promote and offer translational studies and clinical trial solutions to biotech and pharmaceutical companies with Genecast (Beijing) Biotechnology Co. Ltd (“Genecast”) of the Peoples Republic of China (PRC). Genecast is a leader in offering diagnostic products and services in the field of oncology and providing a wide range of diagnostic services to pharmaceutical and biotech companies in the PRC.