Interpace Diagnostics Group Inc (NASDAQ:IDXG) recently revealed that Aetna Inc (NYSE:AET) had agreed to cover its ThyraMir test for all 46 million Aetna members in the US effective immediately.
Consequently, the company’s ThyGenX and ThyraMir tests are now covered for roughly 200 million patients in the US through various health plans.
ThyGenX-ThyraMir
Presently, ThyGenX-ThyraMir is the only commercialized test combining the rule-in properties of next-generation sequencing of DNA and RNA, with the rule-out capabilities of a micro-RNA classifier.
Interpace Diagnostics Group had launched ThyraMir in the US in April 2015. Since then, more than 5,000 ThyraMir tests have already been conducted.
“We are pleased that Aetna has joined the growing list of health plans that cover ThyraMir and that their 46 million members will now have access to the benefits of the ThyGenX-ThyraMir test combination,” emphasized Jack Stover, Interpace Diagnostics Group CEO and President.
Q3 Financial Results
Interpace Diagnostics Group has issued its latest earnings report last month.
It had a net revenue of $3.32 million, up year-over-year from $2.51 million; and a cost of revenue of $1.85 million, up year-over-year from $1.80 million. As a result, the company had a gross profit of $1.47 million, up year-over-year from $0.71 million.
Operating costs had amounted to $7.96 million, up year-over-year from $7.36 million. As a result, the company had an operating loss of $6.49 million, up year-over-year from $6.65 million.
Interpace Diagnostics Group had a net loss of $7.49 million, up year-over-year from $4.90 million. Consequently, it had a basic and diluted earnings per share (EPS) of $(0.41), which is comparable to the $(0.31) recorded during the same period in 2015.
Year-to-Date (YTD) Financial Results
YTD, the company has a net revenue of $9.96 million, up year-over-year from $6.88 million; and a cost of revenue of $4.87 million, down year-over-year from $5.22 million. Consequently, its gross profit has amounted to $5.10 million, up year-over-year from $1.65 million.
On Thursday, Interpace Diagnostics Group has closed at $1.01 while Aetna has closed at $129.30.
