Interpace Diagnostics Announces Preliminary 2018 Revenues
February 28 2019 - 6:55AM
Interpace to Host Fourth Quarter and Full Year
2018 Results Conference Call/Webcast
Interpace Diagnostics Group, Inc. (NASDAQ: IDXG) (“Interpace” or
the “Company”), a fully integrated commercial and bioinformatics
company, announced preliminary net revenue results for the year
ended December 31, 2018:
- Annual Net Revenues for 2018 are
expected to be at the high end of the guidance previously given
amounting to 38% growth over 2017 or approximately $21.9 million
vs. $15.9 million.
The Company’s President and Chief Executive
Officer, Jack Stover, commented, “We are extremely pleased with our
performance and preliminary net revenues for 2018 and we would like
to thank our dedicated employees for consistently performing.”
The Company plans to host a conference call on
Tuesday, March 19, 2019 at 4:30 p.m. ET to review the Company's
2018 Fourth Quarter and Full Year results.
Purpose: Interpace Diagnostics Announces Fourth
Quarter 2018 Financial
Results
Date and Time: Tuesday, March 19, 2018 at 4:30
p.m.
ET
Dial-in Number (Domestic): (877) 407 -
0312
Dial-in Number (International): +1 (201) 389 -
0899
Confirmation Number: 136 88
229
Webcast Access:
https://webcasts.eqs.com/interpacedia20190319
The financial data contained in this press
release are unaudited, preliminary and are based upon management’s
estimates and subject to change based upon a number of factors
including completion of the Company’s financial closing procedures,
as well as final adjustments and other developments that may arise
between now and the time that financial results for the fiscal year
and quarter ended December 31, 2018 are finalized.
About Interpace Diagnostics Group, Inc.
Interpace is a fully integrated commercial and
bioinformatics 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 improved patient diagnosis and management. The Company
currently has four commercialized molecular tests and one test in a
clinical evaluation process (CEP); PancraGEN® for the diagnosis and
prognosis of pancreatic cancer from pancreatic cysts; ThyGeNEXT™
for the diagnosis of thyroid cancer from thyroid nodules utilizing
a next generation sequencing assay; ThyraMIR® for the diagnosis of
thyroid cancer from thyroid nodules utilizing a proprietary gene
expression assay; and RespriDX™ that differentiates lung cancer of
primary vs. metastatic origin. BarreGEN® for Barrett's Esophagus,
is currently being “soft launched” with key opinion leaders as we
continue to gather data on this assay that will assist us in
seeking favorable reimbursement as well as important clinical
information. Barrett's Esophagus is a rapidly growing diagnosis
that affects over three million people in the US and over time can
progress to esophageal cancer. The Company’s data base includes
data from over 50,000 patients who have been tested using the
Company’s current products, including over 25,000 molecular tests
for thyroid nodules. Interpace has been designated by the 2018
edition of CIO Applications as one of the top 10 companies for
providing bioinformatics solutions. Interpace’s mission is to
provide personalized medicine through molecular diagnostics,
innovation and data to advance patient care based on rigorous
science. For more information, please visit Interpace’s website at
www.interpacediagnostics.com.
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 the
Company's future financial and operating performance, 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, the preliminary nature of the financial results set
forth herein which are subject to completion, final adjustment and
audit, the Company’s history of losses, the Company's ability to
adequately finance the business, the market's acceptance of its
molecular diagnostic tests, its ability to retain or secure
reimbursement, its ability to secure additional business and
generate higher profit margins through sales of its molecular
diagnostic tests, in-licensing or other means, projections of
future revenues, growth, gross profit and anticipated internal rate
of return on investments and its ability to maintain its NASDAQ
listing. Additionally, all forward-looking statements are subject
to the “Risk Factors” detailed from time to time in the Company's
SEC filings, including its Annual Report on Form 10-K for the
fiscal year ended December 31, 2017, filed on March 23, 2018,
Quarterly Reports on Form 10-Q and other SEC filings. 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:
Interpace DiagnosticsInvestor RelationsJoseph Green / Wiktoria
O’Hare646-653-7030 / 7028jgreen@edisongroup.com/
wohare@edisongroup.com
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