Interpace Diagnostics (Nasdaq: IDXG) Shares Soar on BC/BS Agreement

Interpace Diagnostics Corp. – Nasdaq: IDXG

Interpace Diagnostics Corp. (Nasdaq: IDXG), announced today that it has entered in to an agreement with the Blue Cross Blue Shield (BCBS) Association’s Center for Clinical Effectiveness “Evidence Street”. This program provides the company with the opportunity to support further coverage determinations among Blue Cross Blue Shield and other health plans. Blue Cross Blue Shield’s 36 independent plans and Companies account for approximately 106 million covered lives in the U.S.

IDXG is trading up over 160% on the news. Jack E. Stover, President and CEO of Interpace Diagnostics stated, “We are excited about our evolving relationship with Blue Cross and Blue Shield’sEvidence Street which, we believe, will help ensure that we continue to develop and provide the information and data necessary to support and secure broader based insurance coverage and reimbursement for all of our products.  This relationship is another important milestone in our reimbursement strategy and, when added to our recent AETNA insurance approval for ThyraMIR  and New York State approval to market ThyGenX, bodes well for our commercial prospects in 2017 and beyond.”

Interpace Diagnostics provides diagnostic tests and pathology services for evaluating rancer risk. The Company currently has three commercialized molecular tests; PancraGen for the diagnosis and prognosis of pancreatic cancer from pancreatic cysts; ThyGenX, for the diagnosis of thyroid cancer from thyroid nodules utilizing a next generation sequencing assay and ThyraMIR, for the diagnosis of thyroid cancer from thyroid nodules utilizing a proprietary gene expression assay.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

Ticker Symbol IDXG
Last Price a/o 11:47 AM EST $11.31
Average Volume 47,000
Market Cap $11.1 million
Sales $12.5 million
Shares Outstanding 2.52 million
Share Float 1.33 million
Shortable Yes
Optionable No
Inside Ownership 1.00%
Short Float
Short Interest Ratio
Quarterly Return 2650.00%
YTD Return 836.17%
Year Return 836.17%

Author: James Marion

James Marion is a University of Houston student studying Business with a concentration in Finance.

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