{"id":477790,"date":"2021-04-19T07:08:10","date_gmt":"2021-04-19T11:08:10","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/interpace-biosciences-raises-full-year-2021-revenue-guidance\/"},"modified":"2021-04-19T07:08:10","modified_gmt":"2021-04-19T11:08:10","slug":"interpace-biosciences-raises-full-year-2021-revenue-guidance","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/interpace-biosciences-raises-full-year-2021-revenue-guidance\/","title":{"rendered":"Interpace Biosciences Raises Full Year 2021 Revenue Guidance"},"content":{"rendered":"
\n

Parsippany, NJ, April 19, 2021 (GLOBE NEWSWIRE) — Interpace Biosciences, Inc. (\u201cInterpace\u201d or the \u201cCompany\u201d) (OTCQX: IDXG) today announced an update to its full year 2021 revenue guidance originally provided on March 31, 2021.<\/p>\n

“We saw increased and sustained clinical volume activity during the first quarter, which, coupled with our improved reimbursement rates translated into higher revenues overall for Interpace than initially forecasted,\u201d said Thomas W. Burnell, CEO and President. \u201cWe now expect 2021full year revenue to be in the range of $42 to $44 million as compared to our prior guidance of $38 to $40 million provided at the time of our full year and fourth quarter 2020 earning\u2019s announcement. This represents an approximate 30% to 36% improvement over our 2020 full year revenue.\u201d Burnell added, \u201cWith the revenue growth and restructuring progressing as planned, expectations remain to achieve our goal of EBITDA break-even by the end of 2021. We will provide additional detail when we report the Company\u2019s first quarter results in May.\u201d<\/p>\n

\n About Interpace Biosciences<\/strong>\n <\/p>\n

Interpace Biosciences is an emerging leader in enabling personalized medicine, offering specialized services along the therapeutic value chain from early diagnosis and prognostic planning to targeted therapeutic applications.<\/p>\n

Clinical services, through Interpace Diagnostics, provides clinically useful molecular diagnostic tests, bioinformatics and pathology services for evaluating risk of cancer by leveraging the latest technology in personalized medicine for improved patient diagnosis and management. Interpace has five commercialized molecular tests and one test in a clinical evaluation process (CEP): PancraGEN\u00ae<\/sup> for the diagnosis and prognosis of pancreatic cancer from pancreatic cysts; PanDNA, a \u201cmolecular only\u201d version of PancraGEN\u00ae<\/sup> that provides physicians a snapshot of a limited number of factors; ThyGeNEXT\u00ae<\/sup> for the diagnosis of thyroid cancer from thyroid nodules utilizing a next generation sequencing assay; ThyraMIR\u00ae<\/sup> for the diagnosis of thyroid cancer from thyroid nodules utilizing a proprietary gene expression assay; and RespriDX\u00ae<\/sup> that differentiates lung cancer of primary versus metastatic origin. In addition, BarreGEN\u00ae<\/sup>, a molecular based assay that helps resolve the risk of progression of Barrett\u2019s Esophagus to esophageal cancer, is currently in a clinical evaluation program (CEP) whereby we gather information from physicians using BarreGEN\u00ae<\/sup> to assist us in gathering clinical evidence relative to the safety and performance of the test and also providing data that will potentially support payer reimbursement.<\/p>\n

Pharma services, through Interpace Pharma Solutions, provides pharmacogenomics testing, genotyping, biorepository and other customized services to the pharmaceutical and biotech industries. Pharma services also advances personalized medicine by partnering with pharmaceutical, academic, and technology leaders to effectively integrate pharmacogenomics into their drug development and clinical trial programs with the goals of delivering safer, more effective drugs to market more quickly, while also improving patient care.<\/p>\n

For more information, please visit Interpace Biosciences\u2019 website at www.interpace.com<\/a>.<\/p>\n

\n Forward-looking Statements <\/strong>\n <\/p>\n

\n This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, relating to the Company\u2019s future financial and operating performance. The Company has attempted to identify forward looking statements by terminology including \u201cbelieves,\u201d \u201cestimates,\u201d \u201canticipates,\u201d \u201cexpects,\u201d \u201cplans,\u201d \u201cprojects,\u201d \u201cintends,\u201d \u201cpotential,\u201d \u201cmay,\u201d \u201ccould,\u201d \u201cmight,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201capproximately\u201d or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are based on current expectations, assumptions and uncertainties involving judgments about, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company\u2019s control. These statements also involve known and unknown risks, uncertainties and other factors that may cause the Company\u2019s actual results to be materially different from those expressed or implied by any forward-looking statements including, but not limited to, the adverse impact of the COVID-19 pandemic on the Company\u2019s operations and revenues, the substantial doubt about the Company\u2019s ability to continue as a going concern, the <\/em>
\n possibility that the Company\u2019s estimates of future revenue may prove to be materially inaccurate, the Company\u2019s history of operating losses, the Company\u2019s ability to adequately finance its business, the Company\u2019s ability to repay its $5M secured bridge loan, the Company\u2019s dependence on sales and reimbursements from its clinical services, the Company\u2019s ability to retain or secure reimbursement including its reliance on third parties to process and transmit claims to payers and the adverse impact of any delay, data loss, or other disruption in processing or transmitting such claims, the Company\u2019s revenue recognition being based in part on estimates for future collections which estimates may prove to be incorrect, and the Company\u2019s ability to remediate material weaknesses in internal controls. Additionally, all forward-looking statements are subject to the \u201cRisk Factors\u201d detailed from time to time in the Company\u2019s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 filed with the Securities and Exchange Commission , Current Reports on Form 8-K and Quarterly Reports on Form 10-Q. Because of these and other risks, uncertainties and assumptions, undue reliance should not be placed on these forward-looking statements. In addition, these statements speak only as of the date of this press release and, except as may be required by law, the Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.<\/em>\n <\/p>\n

\n Contacts: <\/strong>
\n
Investor Relations
Edison Group
Joseph Green\/ Megan Paul
(646) 653-7030\/7034
jgreen@edisongroup.com\/mpaul@edisongroup.com<\/a><\/p>\n

\n
\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Parsippany, NJ, April 19, 2021 (GLOBE NEWSWIRE) — Interpace Biosciences, Inc. (\u201cInterpace\u201d or the \u201cCompany\u201d) (OTCQX: IDXG) today announced an update to its full year 2021 revenue guidance originally provided on March 31, 2021. “We saw increased and sustained clinical volume activity during the first quarter, which, coupled with our improved reimbursement rates translated into higher revenues overall for Interpace than initially forecasted,\u201d said Thomas W. Burnell, CEO and President. \u201cWe now expect 2021full year revenue to be in the range of $42 to $44 million as compared to our prior guidance of $38 to $40 million provided at the time of our full year and fourth quarter 2020 earning\u2019s announcement. This represents an approximate 30% to 36% improvement over … <\/p>\n

Continue reading “Interpace Biosciences Raises Full Year 2021 Revenue Guidance”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-477790","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nInterpace Biosciences Raises Full Year 2021 Revenue Guidance - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/interpace-biosciences-raises-full-year-2021-revenue-guidance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Interpace Biosciences Raises Full Year 2021 Revenue Guidance - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Parsippany, NJ, April 19, 2021 (GLOBE NEWSWIRE) — Interpace Biosciences, Inc. (\u201cInterpace\u201d or the \u201cCompany\u201d) (OTCQX: IDXG) today announced an update to its full year 2021 revenue guidance originally provided on March 31, 2021. “We saw increased and sustained clinical volume activity during the first quarter, which, coupled with our improved reimbursement rates translated into higher revenues overall for Interpace than initially forecasted,\u201d said Thomas W. Burnell, CEO and President. \u201cWe now expect 2021full year revenue to be in the range of $42 to $44 million as compared to our prior guidance of $38 to $40 million provided at the time of our full year and fourth quarter 2020 earning\u2019s announcement. 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