Interpace Q2 Revenues Spike 41 Percent

NEW YORK (GenomeWeb) – Interpace Diagnostics said after the close of the market on Thursday that its second quarter revenues rose 41 percent year over year.

For the three months ended June 30, Interpace posted $5.5 million in revenues, up from $3.9 million in Q2 2017, and surpassing the consensus Wall Street estimate of $5.0 million.

Highlights in the recently completed quarter include coverage of the company’s ThyGenX and ThyraMIR molecular thyroid tests by Blue Cross Blue Shield of Florida and Blue Shield of California.

Subsequent to the end of Q2, Cigna also said that it would begin covering the ThyraMIR test.

“We continued our quarter-over-quarter growth, with both strong volume growth and gains in reimbursement, especially in our thyroid franchise, and I am very pleased to report our recent success in growing our PancraGEN franchise as well, both contributing to record revenues,” Interpace President and CEO Jack Stover said in a statement. PancraGEN is a molecular test for pancreatic cysts and pancreaticobiliary solid lesions.

For Q2 2018, Interpace posted a net loss of $1.9 million, or $.07 per share, compared to a net loss of $6.3 million, or $.65 per share, in the prior year. It beat analysts’ average

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