PARSIPPANY, N.J., Jan. 17,
2017 /PRNewswire/ -- Interpace Diagnostics Group,
Inc., (NASDAQ: IDXG), a company that provides clinically
useful molecular diagnostic tests and pathology services for
evaluating risks of cancer, announced today that it has received a
letter dated January 13, 2017 from
the NASDAQ Listing Qualifications notifying the Company that it has
regained compliance with the requirement of the NASDAQ Stock Market
to maintain a minimum closing bid price of $1.00 per share.
The letter noted that for the last 10 days from December 29, 2016 to January 12, 2017, the closing bid price of the
Company's common stock has been at $1.00 or greater. Accordingly, NASDAQ
informed the Company that it has regained compliance with Listing
Rule 5550(a)(2) and that the matter was now closed.
Separately, the Company has submitted a plan to NASDAQ to regain
compliance with the NASDAQ stockholder equity requirement of
$2.5 Million.
About Interpace Diagnostics Group, Inc.
Interpace Diagnostics is a company that provides clinically
useful molecular diagnostic tests and pathology services for
evaluating risk of cancer by leveraging the latest technology in
personalized medicine for better patient diagnosis and management.
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. Interpace Diagnostics' mission is to provide
personalized medicine through molecular diagnostics and innovation
to advance patient care based on rigorous science.
About Thyroid Nodules, ThyGenX® and ThyraMIR®
testing
According to the American Thyroid Association,
approximately 15% to 30% of the 525,000 thyroid fine needle
aspirations (FNAs) performed on an annual basis in the U.S. are
indeterminate for malignancy based on standard cytological
evaluation, and thus are candidates for ThyGenX and ThyraMIR.
ThyGenX and ThyraMIR reflex testing yields high predictive value
in determining the presence and absence of cancer in thyroid
nodules. The combination of both tests can improve risk
stratification and surgical decision-making when standard
cytopathology does not provide a clear diagnosis for the presence
of cancer.
ThyGenX utilizes state-of-the-art next-generation sequencing
(NGS) to identify more than 100 genetic alterations associated with
papillary and follicular thyroid carcinomas, the two most common
forms of thyroid cancer. ThyraMIR is the first microRNA gene
expression classifier. MicroRNAs are small, non-coding RNAs
that bind to messenger RNA and regulate expression of genes
involved in human cancers, including every subtype of thyroid
cancer. ThyraMIR measures the expression of 10 microRNAs. ThyGenX
and ThyraMIR are covered by Medicare and various commercial
insurers.
About Pancreatic Cysts and PancraGen®
PancraGen is a pancreatic cyst molecular test that, by using a
small sample of pancreatic cyst fluid, can aid in pancreatic cancer
risk assessment. PancraGen is 90% accurate, according to clinical
studies, enabling effective risk stratification of patients.
Pancreatic cancer is often difficult to diagnose in early stages
and typically spreads rapidly with signs and symptoms appearing
when the cancer is significantly advanced. Because of this, and
that complete surgical removal of the pancreas is not possible,
pancreatic cancer is considered a leading cause of cancer
deaths.
Forward Looking Statements
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 our future
financial and operating performance. The Company has attempted to
identify forward looking statements by terminology including
"believes," "estimates," "anticipates," "expects," "plans,"
"projects," "intends," "potential," "may," "could," "might,"
"will," "should," "approximately" 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 company's control. These statements also involve known
and unknown risks, uncertainties and other factors that may cause
company's actual results to be materially different from those
expressed or implied by any forward-looking statement. Known and
unknown risks, uncertainties and other factors include, but are not
limited to, our ability to adequately finance the business, our
ability to restructure our debt and other obligations, , the
market's acceptance of our molecular diagnostic tests, our ability
to secure additional business and generate higher profit margins
through sales of our molecular diagnostic tests, in-licensing or
other means, projections of future revenues, growth, gross profit
and anticipated internal rate of return on investments, and our
ability to maintain our NASDAQ listing.. Additionally, all
forward-looking statements are subject to the risk factors detailed
from time to time in the Company's periodic filings with the
Securities and Exchange Commission (SEC), including without
limitation, the Annual Report on Form 10-K filed with the SEC on
March 30, 2016 as amended on
April 29, 2016 and June 14, 2016, and the Quarterly Report on Form
10-Q filed with the SEC on November 17,
2016. 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.
CONTACTS:
Victor Roberts
RedChip Companies
407.644.4256, ext. 111
victor@redchip.com
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SOURCE Interpace Diagnostics Group, Inc.