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Tuesday, October 27, 2020

Interpace Diagnostics Group Inc (NASDAQ:IDXG) Rips Higher on Major Exposure Campaign

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Interpace Diagnostics Group Inc (NASDAQ:IDXG) is a beaten down biotech diagnostics name that caught fire in recent days. The driving catalyst behind the move appears to be the company’s announcement that it participated in a major awareness campaign on Endocrine Health published in a special insert in the March 17-19th edition of USA Today in several key markets including New York, Los Angeles, Dallas, South Florida, and New Orleans.

Jack Stover, President and CEO of Interpace Diagnostics stated, “We are pleased that USA Today included us in this important educational program.  As a provider of molecular testing for thyroid cancer, this is consistent with our commitment to educate both physicians and patients about the best options available to them.”

Interpace Diagnostics Group Inc (NASDAQ:IDXG) bills itself as a company that develops and commercializes molecular diagnostic tests for physicians and patients to detect genetic and other molecular alterations associated with gastrointestinal and endocrine cancers in the United States.

The company offers PancraGen, a diagnostic test designed for determining risk of malignancy in pancreatic cysts; ThyGenX, a sequencing test designed to assist physicians in distinguishing between benign and malignant genotypes in indeterminate thyroid nodules; ThyraMIR, a novel microRNA gene expression classifier; and PathFinder TG Barrett’s, an esophageal cancer risk classifier.

It is also developing a test for biliary cancer. The company was formerly known as PDI, Inc. and changed its name to Interpace Diagnostics Group, Inc. in December 2015. Interpace Diagnostics Group, Inc. was incorporated in 1986 and is headquartered in Parsippany, New Jersey.

According to company materials, “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 evaluation of pancreatic cysts and assessment of risk of concomitant or subsequent cancer; 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.”

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As noted above, the stock has been ripping in recent days on the back of the company’s prominent exposure as part of a major USA Today awareness campaign on endocrine health. In all, we’ve witnessed 31% during the past week in terms of shareholder gains in the stock, a rally that has pushed up against longer standing distributive pressure.

The situation may be worth watching. IDXG has a track record that includes a number of dramatic bounces. Furthermore, the listing has witnessed a pop in interest, as transaction volume levels have recently pushed exceeding 170% above the average volume levels in play in this stock over the longer term.

According to the company’s release, “Interpace has joined with other key organizations including the American Thyroid Association, the Endocrine Society, and the NIH in a campaign that encourages readers to pay attention to the signs that often lead to the diagnosis of a disorder, like thyroid cancer, and also provides readers with the available solutions to assist them in preventing illness and managing their overall endocrine health. Although most people rarely think about their endocrine system, it influences almost every cell, organ, and function of the body. By playing a role in regulating mood, growth and development, tissue function, metabolism, and sexual function and reproductive processes, the health of this system is vital to an individual’s overall health status.”

At this time, carrying a capital value in the market of $13.9M, IDXG has a chunk ($1.7M) of cash on the books, which compares with about $3.8M in total current liabilities. One should also note that debt has been growing over recent quarters. IDXG is pulling in trailing 12-month revenues of $46.6M. However, the company is seeing steep declines on the top line on a quarterly y/y basis. You can bet we will update this one again as new information comes into view. For continuing coverage on shares of $IDXG stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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