Interpace Diagnostics Announces Receipt of Letter From Nasdaq Confirming Compliance With Audit Committee Requirements
September 20 2017 - 9:10AM
Interpace Diagnostics Group, Inc. (NASDAQ:IDXG) (the “Company” or
“Interpace”), a fully integrated commercial company that provides
clinically useful molecular diagnostic tests and pathology services
for improved patient diagnosis and management, today announced that
on September 18, 2017, the Company received a letter from The
Nasdaq Stock Market LLC stating that the Company has regained
compliance with Listing Rule 5605(c)(2), which requires the Company
to maintain three audit committee members on its Board of
Directors. Jack E. Stover, President and CEO of Interpace
Diagnostics, stated, “We are pleased that the Company has regained
compliance with all NASDAQ listing requirements and can continue to
transform itself for growth.”
About Interpace Diagnostics Group, Inc.
Interpace is a fully integrated commercial
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’s mission is to provide personalized
medicine through molecular diagnostics and innovation to advance
patient care based on rigorous science. For more information,
please visit Interpace’s website at
www.interpacediagnostics.com
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. Both ThyGenX and ThyraMIR are covered by both Medicare
and 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 the Company’s control. These statements also involve known
and unknown risks, uncertainties and other factors that may cause
the 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 liabilities and other obligations, the
market’s acceptance of our molecular diagnostic tests; our ability
to retain or secure reimbursement, 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 31, 2017 and the
amendment on Form 10-K/A filed on April 28, 2017, the Company’s
Quarterly Report on Form 10-Q for the quarter ended March 31, 2017
filed with the SEC on May 12, 2017, the Company’s Quarterly Report
on Form 10-Q for the quarter ended June 30, 2017 filed with the SEC
on August 10, 2017 and the Company’s Registration Statement on Form
S-1, as amended (333-218140) initially filed with the SEC on May
22, 2017. 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.
CONTACT:
Interpace Diagnostics
Investor Relations:
Paul Kuntz
Redchip
Paul@Redchip.com
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