IDXG - Earnings call transcript Q1 2018 | Interpace Biosciences, Inc.

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Operator

Good morning everyone. Thank you for joining us for the Interpace Diagnostics Conference Call to review the company's financial results and operations for the first quarter of 2018, as well as recent developments. The earnings release detailing first quarter results was issued this morning and should be available on Interpace's Web site at www.interpacediagnostics.com.

Before we get started, during the course of this conference call, the company will make forward-looking statements. We caution you that any statement that is not a statement of historical fact is a forward-looking statement. the projections, about and plans, remarks prospects. includes company's expectations, financial beliefs This based analysis the to judgment date statements from cause on These are differ to and and that conference materially and actual results risks described of call as statements. are important subject in numerous those uncertainties could forward-looking the the of as the and XX, the with Safe risks forward-looking Interpace's filed release call SEC shortly, discussion are conference XX-Q and on be in section to made risk this XXXX March news which filings which March on uncertainties Form and ended These periodic the today's include in section public a associated Harbor the include XX, in statements statements. quarter as XX-K in filed hope with well the for forward-looking Form XXXX, factor statement described the the should or potential and Investors risks. investors consider these carefully read these or so. did to obligation no statements reflect forward-looking assumes intent events future not to Interpace and outcomes to update actual do

addition its these and Web In on provided reconciling believe the helpful historical the We assessing Principle A site. Accounting performance. is to meaningful information. non-GAAP we in Accepted available that GAAP also in Generally numbers, company's the included earnings information information or GAAP the and have provides company's supplemental information maybe the table information non-GAAP future non-GAAP to supplement, is release, which

and Stover, I Executive the would Jack over of President Chief Now Interpace like turn to Officer to Diagnostics. call

Jack Stover

call first Chief progress is an and March our to-date. our Financial both XXXX. a of ended review Thank Early, and thank XX, begin I on for for will update for today today me the you, you the the Officer. Rob. Good quarter joining with morning us With quarter Jim

the We will performance compared financial our the year to for then quarter. quarter first prior first review

Following that for open the your will we call questions.

I mission you remind me our calls. of all will as on Let

by pathology diagnostic leveraging in personalized molecular management. and clinical We medicine company that the commercial informed and patient for are a technology bioinformatics tests improved provides better services and fully integrated and latest decisions

know, we commercialized you market. tests As have currently diagnostic four the may on

used is in confidence actionable solution. First, announced is thyroid management determining nodules. believe with generation nodule cancer ThyraMIR a with specificity testing two greater we ThyGeNEXT preoperative nodules clinically meeting the we ThyGenX, providing with to test classifier combined which cancer ThyGenX risk ThyGenX is week at expression for in microRNA in diagnostic what introduction thyroid ruling first combination to which providing of our discuss When for and accuracy Yesterday this I that superior physicians thyroid the a later ThyraMIR, both later. expected outcomes or upcoming sensitivity is tests is correspond typically of next by high identification. improves gene sequencing will single that service the AACE the of

the and test PancraGEN evaluation U.S. and subsequent Second, for cancer. or is of risk and first of bioinformatics only commercially concomitant assessment available cysts molecular of pancreatic

of million, and XX% the an year resulting quarter first over the identifying and Our test primary XX% increase has quarter both the tumors to and and unique differentiates newest that product fourth been by launched of commercial quarter. our fingerprint between the new franchises $X.X recently in for improved pleased and our test chemotherapy. and for quarter had as record XXXX grew and molecular metastasis determining as in series example and to a lung of that is endocrine GI of metastatic am molecular RespriDx volumes physicians should announce what or course first Discerning I versus whether action an tumor of take, surgery loss newly over markers formed lung prior tumor using a revenues a tumor increase useful of we fiscal start prior an of is our excellent a pricing heterozygosity.

managing Our in grow our first we Further, while the quarter net continue rationally growth. sixth sequential costs. revenue business to revenue aggressively quarter growth our the represents of

good was of we end and hand collection with March a and our March $XX.X position Importantly debt. of greatest cash on cash cash no month of cash restructuring equivalents the million at long-term in remain since the and Interpace

New In Plans; Shield Shield Iowa, the and coverage ThyGenX of recently patients Blue announced of of Blue over for country these Cross million XX that Arizona, Blue plans we across Plans and policies South members. resulting and published by Dakota Blue in four XX Cross ThyGenX with XXXX, have X.X ThyraMIR included South March Cross representing that and In agreement Jersey of and announced announced being and new ThyraMIR. to XXXX, covering that St. Blue coverage X in April, ThyraMIR access ThyraMIR million Shield the ThyGenX of Healthcare Horizon New Blue ThyGenX to to Blue eligible since an Carolina, to we Cross announced we in over we favorable February, plans. following. of BJC beginning commercial participate cover Blue coverage both In the we Louis million announced May Shield entered provide into members agreed

to plan important had several also our we and operational reimbursement successes. very In progress, addition

PancraGEN; lesions, ThyGenX cyst evidence thyroid clinical pancreatic lung of and of for product manage RespriDx. as and experience of We expanded solid help a describing at including its expand PancraGEN presentations In Pathology of indeterminate lesions the the from As national at pancreatic utility we annual just would cytology or American precision Canadian a reviewed our its abstracts mutational first the to Clinical planning level that, providers fluid Association the are announced results of financial molecular to of With of to previously not podium company's off CFO March, AACE, decisions extensive discuss States nodules our solid yesterday as malignant held ThyGeNEXT, Academy being support ThyraMIR, we launch testing thyroid Jim? classifier announced the we enable and panel analyses for peer Endocrinologists, or from proprietary new indeterminate cancer biliary of business. of we’ve for and PPV to or should well meeting PancraGEN for British other indicators maintaining ThyGeNEXT markers, call comprehensive in aggressiveness five identify launched using includes combined the to molecular available. using like strong with thyroid Meeting and a gene as XX. using to X,XXX over benign ThyGenX NPV. but fusions mentioned a patients Early, with hand the to in of and RNA tests to data new make a reflecting more network of than exclusive March, May experience with Columbia and set XX further also of in posters to agreement ascertain our XX,XXX LabCorp in our execution review Overall cancer United recently the nodules, with held highlights not publishing only characteristics manuscript interrogates ThyraMIR Jim previously mutations and presented I quarter. ThyGeNEXT now while validity treatment with physicians Vancouver, Boston numerous being of nodules and and additional

Jim Early

you, of some position. to Today would and like financial and elements our I Thank good everyone. performance key focus on Jack, morning

period was our $X.X thyroid and As revenue and growth units XX% year first quarter for reason over comparable both was our a of the reimbursement The prior principal a revenue million, the over net the franchise previously increase mentioned the prior XXXX in quarter. improvement. increase XX% for

may basis you for with a revenue know cash our As portion accounted accordance GAAP XXXX. on in of was a during

While among certain establishing we were reimbursement payer groups.

and filed our stated now XX-K, new payer standard recognition previously all The in measurement net effectively collection histories with explained more our well As now on of volume tests the in XX-Q primarily we effective means are by detail will the revenue accounting of as accession. as in aligns basis our accrual all XXX X, be adoption our the of for XXXX, our standard sold groups. revenues of of ASC January adopted revenue

Our gross increased the volumes. due first quarter profit of year improvement principally to prior was million, XXXX the $X.X over the XX% for

XXXX percentage XXXX decreased of costs in were and increased Sales comparable XXXX. XXXX acquired XX% a The first sales to General costs to support Research in the prior Our increase our first from our million the primarily anticipation materials the result primarily was compared and and supporting period coverage a G&A products quarter first for million reduction to and quarter $X.X additional year. development gross the $X.X the the in year. sales of in comparable our quarter spending XX.X% that $X first in the and of for XXXX of million costs were profit remainder increased growth. $X.X year. for during of period as the were volume administrative quarter as compared other million the to related as strategically to costs prior as marketing expense reflects compared year for for period of million $X.X reimbursement for period. placed lower of reps thyroid comparable investment due million $X.X additional and for $X.X to the of and the of marketing of to franchise restructuring Prior severance million revenue

our restructuring eliminate to was the of charges $X.X result compared loss XXXX. in by included period long- comparable a or restructuring million offset for positive debt. where million the term a value quarter of first fair of debt $X.X As the noted, for XXXX adjustments negative XXXX our information we all net many income

and the continuing release above, we EBITDA fair loss evaluating costs to ended million XXXX expenses XXXX charges. XXXX for and negative consideration, in interest, earnings adjusted the quarter $X.X to well loss negative referred debt, financial and to first as impairment, and for compensation, our or our from amortization the As a taxes, the XXXX when We usage. three revaluing marketing quarter income adjusted amortization XXXX. measure we excluding taxes, in and purposes advisory first often XX, non-GAAP define of adjusted before stock-based first extinguishment other was as on and sales non-cash discussed -- our in and interest, earnings principally mark-to-market cash EBITDA $X.X month and quarter due EBITDA for contingent of noted for or million operations consulting asset investment our costs to our for as million value $X.X depreciation our adjustments March depreciation of Totaling liability relating period warrant for an and

marketing ended operations, evaluating the costs spending and quarter non-recurring due catch was approximately as investment the and compared as the in up for operations costs. and to was flow additional financing for payments quarter million sales and first Further, So increase vendor discontinued of XXXX. the shows March XX, $X.X cash consulting XXXX such used net item cash some that million in advisory included $X to

equity of assets first the of no the was first at the total resulting million. at $XX.X importantly year-end and as million of million debt end quarter had stockholder's March $XX.X end liabilities million of position cash $XX.X we like Our $XX.X Total this just at in were XXXX, quarter. XX, were long-term

currently as up to back that, Jack XX is Rob. made headcount at in XX year end, and the let me people compared and to XX Jack? turn marketing Our or in call XX operations. With and Rob sales laboratory of

Operator

Thank you. conducting a We'll session. question-and-answer be

Jack Stover

Rob. Hey

Operator

Yes.

Jack Stover

the think goes color… way provide this I some I additional that need to is

Operator

Jack, apologies continue. My please

Jack Stover

color. provide yes, additional So, some Rob. to I would like

As scale I to-date, some improvement in team we have our and as to we In which In model. validated, demonstrated to growth. will our restructuring XXXX, demonstrated continuous recapitalization. we of you our completed deliver our largely and our in ability XXXX, XXXX initiated remember ability reorganization commercial operations we believe our a

a the of for remainder in million the believe us. of performance, obviously to any we do on organically while or delivering for all we $XX factors, plans guarantee are major [Technical sales foremost we Difficulty] annual these our year cannot build be milestone Our would have

Shield Our such XX confidence growing in Cross upon retaining adding target the mostly in Blue as attaining LabCorp agreements, pay volume. zero our by in this which account, were and new adding previously way our expanded Blue our which reimbursement arrangement success success is based is gaining the

The ThyGeNEXT sales process a qualified opportunity bit of rule marketplace Our in PancraGEN relatively has reps ability been time. and eliminated choice the created -- delay utilizing it away the those launch order rule to certainly year we us was on a prognostic hospital us accretive allow for finding some to a to and difficult of to niche growing. as systems our the occupied sales quote effectively period of a see sales resurgence now growing highly experience and value focus cumbersome less beginning that and the the on assessor. that as that further the made related expand The would in take importantly advantage to effective and of billing for capabilities of seeing We're we're and PancraGEN. of commercial is scenario uniquely in assays of mostly may and our opportunities January microRNA we X, and positive of that's our hospital reps the opportunity team highly positioning capable and short the predictive negative of XX-day our this systems delivering to and and strong a going make

member are you For family to cancer a were metastatic what example, if your wouldn't progressing you want know were as identified odds too aggressive cancer. having

future license believe capabilities the in be seeing It's already opportunities. last year opportunity key And magazine, biopsies We over and healthcare hot believe medicine. operations be diagnostics additive at we're esophageal most that unique accretive to believe to this of this we is in. many many Leveraging growing opportunities. companies. know opportunities less from believe a creating applications this us Barrett's be Growing And XX,XXX valuable BarreGEN, potentially convinced to important for molecular of the we're a by separates of may Our attention, our an synergistic competition set data have for topic evaluating finding liquid our classify cancer. CIO other products activities asset, at strong us asset created level for investor eventually but data for constantly companion opportunity to in and is is I differentiator of The is lot our a a from will successful unique to from well. us more risk a exciting are and a levels. robust the We as us apart are Esophagus are and of we these major served. and the our potentially space others patients us molecular recognized but natural right a us biopsies, which and therapeutics or diagnostic gets And our very commercial monetize as liquid competitors. acquire personalized problem to we our opportunity we a

Operator

Thank time, be session. you, At Thank conducting [Operator this a Jack. you. Instructions] we'll question-and-answer

Please first Group. from Jason McCarthy with question will Maxim today proceed of the your coming line Our with be question.

Jason McCarthy

to getting my Hi. Thanks for question.

tests centers what for when and ThyGenX, from of think are existing converting early adopters, sales are to So, the what doctors percent ThyraMIR or uptake we percentage about from thyroid and derived and new market?

Jack Stover

our have Yes, business good answer at competitors. first thyroid look Hi, you that and we our whether specifically. data quarter the Jason. I But business, that majority of other taking business adding of Thank don't that for in in whether we're the taking you. is about business, away we're general can't tell we're I me. question. front as business or I from new adding new not business talk we we're can

Jason McCarthy

today? for you. in a in continued Thank are thyroid greater Okay. you lives then, like how tests many discuss covered progress And total detail, the just pair can bit in adoption

Jack Stover

test, For the yes. thyroid

Jason McCarthy

Yes.

Jack Stover

Yes. of But general of XXX kind XXX about because overlapping in around The of some thyroid we are to the test it's that covered. lives coverages. is the talk a nature of what million little million difficult

Jason McCarthy

space question, Is then, as Thank impact particularly been has reimbursement. the and in some to has on relates companies multiple reimbursement, a legislation affected diagnostic recently it And service Okay. you. that one Interpace? terms there spaces CMS last in of the to device relief any therapeutics there as

Jack Stover

Good Yes. question.

of space, and oncology we so with has been there you the In the the more we look brought company, we're flexibility. CMS remember the in In a honest been the fact, pre-oncology occupy, space. arena, pre-oncology has space certainly really constraint in a to at take as be much

is business. our fact obviously which thyroid ThyGenX, of of As component biomarker our a matter

from Our effective CMS raised X. was $XXX about pricing January actually

for a that's us. very So good outcome

Jason McCarthy

Thank you congratulations very much great and on quarter. a

Jack Stover

Jason. you, Thank

Operator

Please Our next proceed line question. the Francois your is from of Laidlaw. question with with Brisebois

Francois Brisebois

think the do platform? Hey might Couple you for Congrats areas questions taking thanks the other PathFinder guys wondering the on with was Jack. disease quarter what I work questions. of here.

Jack Stover

Franc, we broad is other of covered call, opportunity the There's terms part both RespriDx, us mention Yes. platform BarreGEN while for a as PathFinder -- on didn't of on have platform. that thanks by we today. joining of that Yes. is basically -- PathFinder, calls That's a is it function a and in our

as applications forward products terms in at opportunities in There's other we products applications the that with or other really kidney for think the of area the other I we move applications instance of looking as burner well. for number currently we're liquid are do have. us that back a aggressively on

Francois Brisebois

could closing you color why the great. for biopsy and you Okay, this push only more in that now as any liquid I if can quickly on whole wondering remarks, And just think your Interpace? additive give touched just was in to you be

Jack Stover

doctor's take the in the biopsy of at assay, that for at the a opportunity important, and evaluation we'll we the a cancer been much beyond but assessment are prognostic can a way If for reduction for potential or liquid insightful as typically lung liquid -- Yes. you assays could and more semi-annually, outcome surveillance. a pancreas focused meaning were alternative pancreatic access the cancer, that quarterly, a we is most our more in byproducts or patient. evaluate care certainly be of under cancer aggressive the biopsy, evaluate a active careful pancreatic where into and surgery have of to look of The could we typically liquid a even and pancreatic which really pretty monthly, that Active that thyroid some today be The look surveillance juice. patient pancreatic juice could has look is a are as at cancer be than area having The not biopsy on in byproducts a so on pancreatic surgery. we basis, past. PancraGEN watch cancer what is we that

So around we're a we're certain urine. a remember of extent we we already accessing may and It fluid. But see many that certainly a biopsy really currently cyst that blood liquid than liquid aggressively little assays to lot cysts, different that biopsies in evaluating and opportunities of that our be definition do currently. are basically of

Francois Brisebois

Okay.

can is Okay. this cannibalize little more That's any And and or on now right make potentially very to helpful. ThyGeNEXT that's -- that's give differentiate ThyGenX, you clear details there chance it its on that ThyGenX And advantages? could more that details hard is a to just then, it.

Jack Stover

It's Yes. do of aggressive what tongue is cancer with to to cancer. thyroid the and nature be and way now, most the tier. thyroid looking focus of bit additional ThyGeNEXT on a simply the little But basically we're so a add nature biomarkers maybe aggressive to that explain would of

and don't -- not But and be there we option it's an cannibalizing. it more we see ThyraMIR ThyGeNEXT will provide see for the option So The become of data. an do ThyGeNEXT what care. standard of future patients will combination in that the because physicians is won't

version call sort it's it's a we -- our of it While a better believe solution. X, we

out will the with X competitive hope and become will obviously So ThyGenX, ThyGeNEXT, version what biomarkers that And the fall we dominant. additional space. is in the of more become aggressiveness take will even as original the largely that over recognition and

Francois Brisebois

year a Is probably to XX, believe something believe growth. year, said like a the the your you now sales the keep expect you. Jim should That seems then, more, he year went force? And but I as last sales reps it's we reps XX% over that headcount in Got now, well XX this I growing mentioned about XX time sales this at field. little the and that from

Jack Stover

for supports very luck I is One them what what some there with available of had has sales Frank cost. We experienced accretive, been reasons. force two much than a past. that timeframe mean for qualified growing revenue Yes. us to that their It is their good reps a by we've make shorter and the the been have in lot

enthusiasm force. pancreas reps. as we're than that on continue long our our in meeting to and I've that to you national both very terms is would least. growing, and was back sales it both to of exciting seen interested And and opportunity got We anxious which tell have sector from thyroid So long in ends our I that as as included sales as say we aggressively more our Interpace, just invest the the ever is

Francois Brisebois

lastly, now XX accounting in easier you for here of mention, Okay, hear do, great. you here top-line changes be hit for it the million in but on little make guys would did quite then, 'XX, accomplishment And year that correct? terms that is guidance, might the a to I end from it to

Jack Stover

Yes.

what many been to revenue providing issues cetera, about been done was. careful have So terms it mostly think do very in we've of how difficult of in have we've the et I our guidance as the because difficult and because of recognition mechanics very sector underestimated companies

January accrual X a fully is to thing of it As being much do. easier certainly basis an on

saying the given XXXX, so million $XX for that annual is And guidance, strong think attaining is million I haven't that while sales that. we're number our we specific confidence what about very $XX the is we're saying annual

about that excited So we're opportunity.

you to first track that a at we're difficulty. of If think quarter, great look without on I deal accomplish our

anybody, us So to accomplishable want easy to accomplishment company and very accomplish. don't the it's XXXX. think It's in an organization. it's never I for the for But I mislead

Francois Brisebois

here. change the congrats in quite years the the right. on past two All progress, Well,

for me. So you. it Thank that's

Jack Stover

Great. Thanks Frank.

Operator

Wainwright. with Thank line Yi from the you. Please proceed of coming your with question question. The H.C. next is Chen

Yi Chen

should you look lower Thank How at in first taking question quarter previous is, margin the My we forward? than my for going gross quarters. gross question. is the margin first

Jack Stover

Hi, Yi. today. Thanks for Yes. joining us

first other what So is I we than improve quarters to overall margin costs more quarter. The flatten gross when quarter absorb tends that after the tends first out the to at the quarters. happens or think look

of is the the products expectation around that planning for growth acquire we or a and the of the how Some function future.

we're think heard say very we're necessarily that it's XX% gross as will talked can is is anticipate year gross believe As able above function that also predicting. what a and for and that scale of margin which certainly our before, above you've XX%. to grow, margin our I me about obviously, be for And improves the I I we've attainable and at scale us.

However, were gross the improving first profit from quarter. in that I see do where we

Yi Chen

next question businesses new market is the as expect you the do it ThyGeNEXT My as is, priced as from well competing accelerate acquisition ThyGenX to of Thanks. share grab same and tests?

Jack Stover

just is. introduced. yes, answer The it Remember is it being is,

be we of rate week this Medicare it but has upcoming from level the will been. effectively covered informed a ThyGenX same at ThyGeNEXT introducing already at the will So been conference, and view that point the as we've be that same

So the answer is yes.

As we look at to sort of and the business opportunity. Listen, we we our to competitive expand; that need we're need grow; improve in we need to a position. continually

position strong go a opportunity new as in a this head-to-head competition. candidates have competitive position our physicians solution patients solution We against reps need and that a terms competitive well improve robust or more think a already of as as the we robust will the both sales for

Yi Chen

expect ThyGeNEXT XXXX? top-line to you Do to accelerate revenue potential from the XXXX growth

Jack Stover

it XXXX. to support believe we Yes. XXXX certainly that from it going believe plan. plans part be our help will We And will growth that of

Yi Chen

very much. Thank you

Operator

your Thank Instructions] next of with question The you. Please [Operator from Chung with the Capital. proceed line Lauren WestPark question. comes

Lauren Chung

thanks for how my and you process is through one is on the Congratulations of And the sales quarter. integration call. taking I can question for talk And about rep, have the Hi. the going? that [indiscernible]

Jack Stover

process well. reps as interesting. with The for Thanks Lauren. integration the very has joining sales been Hi, Yes. new us

strongest reps previously had several were for and example of reps worked our an our some previously. sales really reps As were RedPath of sales sales that new actually

natural. bringing interesting them back on of it was in of very terms was it So a kind

and So because they up that where forces molecular I to or that's accretive nature there's able and if been had several difficulties. sales getting started is the part other think get have companies the the you -- had running. financial not in of reps sales of space look And other been we're terminated around reimbursement

a so the well. we he stepped but there been and Greg Richard, job side in we've have as leader great done network great really has who's space. on to I able And in a the commercial attract them a great And think

to So very right he's us up quickly get very the and able sales identify for running reps and them quickly.

Lauren Chung

you more also out the And little that? color can you on are there, mentioned a biopsy. seeing you liquid on What you. side Got us strategic give

Jack Stover

Yes.

We recently two I are ago the were space. space. we seeing a period technologies contractors trip as guess working California are a in two as the in biopsy or that and lot companies of weeks on three-day visited well liquid of We to and multiple technologies biopsy liquid different time, in

I a said utilizing looking but whole our new expand not of into line specifically with and is liquid of a opportunity as bit Ours to unique better work really biopsies a terms try to in we're and product current expanding biopsies basically and to the Syd biopsies about liquid Not very enthusiastic in fact capabilities we've that those. opportunity the and juice mention the opportunity excited talked liquid has about that been Dr. Finkelstein pancreatic for with previously.

Lauren Chung

and cancer? pancreatic Got you. and thyroid you looking beyond esophageal Are

Jack Stover

Yes.

exclusively in of but those we fact areas. are, not matter a As

look positioned cancer to-date, we've the do been we're and in If you space. in what really we at well really how

therapies. other assessment We and we're opportunities are do -- that for we potentially able because able into of products that we non-cancer the to or at the do pre-cancer expanding prognostic evaluation well non-cancer as look

Lauren Chung

Thanks Got much. very you.

Jack Stover

Thank you.

Operator

Thank Please the Goovaerts from of next Pierre is with proceed line question with BioMedware. you. question. The your

Pierre Goovaerts

call. morning again, reimbursements. I expecting a you Good quarter. increase the Thank had of in over it's increase questions, was taking given couple for Jack. Okay. I I quarter just the last maybe my a a big mean great

effects how So last increase some Can to of products. last seasonal of because we over I first mean that you is I the over by increase the due some mean the there it comment for it's or is quarter of a could that? the XX% year, interpret XX%, is an on significant quarter reimbursement increase in

Jack Stover

appreciate I the joining and again us Thanks for call.

change we and of units What that some acceleration seeing we last As in versus there for growth we are QX, evaluate the to first we what our we're recognize sort price. XX% this year in price 'XX. terms is at QX is QX at terms on versus focus the quarters units year. look we 'XX in there And year, QX and activities about of from all, XX% the in to of terms that as and quarters, look of the are of end of change

Our certainly sales targeting et incentive programs cetera. reps are their

we're of So up in bump It XXXX. QX be look we're to in from there really where XX% terms QX might of year, going well. as what to beginning to from the not think in quarter-over-quarter. be growth of can end a very about what conclude But suggesting those expect QX, some bodes at what able the I excited the is look we're activities. you at And if pretty we demonstrate you around be our that's we plans to for

Pierre Goovaerts

I I seems question another the be big It but right now are there to happen Thanks. is year, could and short-term news. Okay. keep you a robust, with more a regarding trying mean is in mentioning that data about to We for talk to that have collect it test, trying no partnership lot any no around it, BarreGEN. there you or...? opportunity. movement have last anything the

Jack Stover

have a big for us we as you in BarreGEN market for in believe at a point component. And Pierre we know reimbursement large not opportunity time. Yes. is BarreGEN do this

tight. the community. progressors, products patient can to lifecycle like is to a where that's years. for is, present to of difficulty The intended it's program have dozens platform be been been BarreGEN The for relatively good to cancer identifying with data gather Barrett's reimbursement is reimbursement. evaluation on The be news as other approved lifecycle not clinical and esophagus with pancreatic year, is a esophagus about for it's the Our able Barrett's patient over underway evaluating a our that same

gaining and So gathering today we're on focused data.

moving terms we're focus on in a BarreGEN other that working forward. part have activities our with potential partners. It's of We big

a don't believe sales big and The process to BarreGEN I on lot from it's impact will a of view point longer. -- in have expecting However, sales XXXX, a too that happen takes soon.

are On the early to the what this about point that opportunities accelerate other talk there we and at hand, specifics really to time. are on, of value in we think working other it's too but any that's asset

Pierre Goovaerts

been may collecting. you Okay. the -- or I when question. liked mentioned assets that the you've my one have Thank you you. have I big data be of last

have company yourself, the again this very you've concrete plan analysis is collecting. all would being you data to you've really with capitalize of wealth collecting? to You or long-term Partnering been other able been do, it valorize on information

Jack Stover

process understand data. quality is have for purpose. to us Pierre that some good this the of and utilize repositories that The we parties is So We're the underway. samples news we and third do can help that with the we active for working have

be. parties with determine help targeted to targeted you we're value assays If the the us nature most nature important. as value the we And XX,XXX our there's patients look very, is at third years and over of our are uncover that But experience or believe of assays assays part working very a might long assays, XX of opposed what of progression. those in the to and covering for

the think sort look it's are in as think only opportunity. you anybody that that an a the we better cancer is an like data at into amount couple and that therapies coming of Again, at last If PancraGEN space. look do we product for example, has or and relatively recent of in now the interest you don't pancreatic potential the years. cancer than I in pancreatic more of market

Pierre Goovaerts

has share is I question under something or? Luckily, good. for time now it you price worry been more an as some have $X your investor, Okay, about and one

Jim Early

It's always we progress, continue we the past not rationalization have as of the of you other we lifeblood think getting if et story that you look than and look of continue There's do know. as at I we terms our in regular at you And lot can share current position worry we managing our And in price all interested as and cetera. Pierre, more to basis activities combination basically and demonstrate itself. the that do our on our institutional in terms about a care a take will our I more to and valuation share make investors story. costs of our that price. in a

that. that believe what big we institutional find a advantage they in front is And that have just we us. opportunity need of think take to we I of with investors

diagnostic So presentation by of companies makes why recently that's to some other and I different. been also the It's hit what we're molecular hard in right track. that share I a our again, in good have price, the think And done well. couple the discussion up to pretty tried out market us on but has not see as tick point

Pierre Goovaerts

you from note. very Well, Okay. very thank positive much this

Jack Stover

Pierre. you, Thank

Operator

session We're nearing Thank you. our this the question-and-answer morning. of for end

for time have We one Investor. line question. Private of final question question. Please your with the comes [ph] from That [Trevor Housten] proceed a

Unidentified Analyst

Hi, good morning. guys,

Jack Stover

Trevor. Hi,

Unidentified Analyst

getting products, through your physician Hey, what I two one with from of or might percentage physicians so feedback multiple been are and the say the process as kind tests? adoption you thyroid my once kind has what question orders the or as of of is, far

Jack Stover

gotten a combination plus enthusiastic predictive in products especially thyroid our of solid our And in physicians current gotten pleased compares customers to course we've XX are of the of they of been of what combination the with in terms is But about to of competitors. plus percent can't you I that that has leverage that in product. are negative the also tell recurrence that's our case, in the the certainly many range. terms the XX% physicians exactly lot ThyraMIR, ThyGenX In of a the value quarter the first our and as that And predictive has with specially feedback that ThyraMIR continue order. positive and very value in the attention range. utilization it today as product and

oftentimes step effectively and customers, we are aggressive week. motivation and that's customers. I we're we they seldom back. a we If identify out them been move we and that talk lose ThyGeNEXT, the can they come tell really to with losing as markers do, to or more you Certainly which we've for forms next don't try However, desire launching interest many aggressive heard competitor their forward us hear

So, I think it's very franchise. a current

to systems only acquire the future. confidence healthcare aggressively and here state gone we're financial physicians not In easier activities and I made updating it that position doctors to two and healthcare be our that, were get different say to our concerned that of for our going product, in addition the think that systems financial viability be art and ago is but it about away we're has I'd basically going to to largely and to years certainly

Unidentified Analyst

in insurance. you to Thank With reimbursement for you. that by that in patients mind progress arena? RespriDx are PancraGEN, what One found challenges that that or successes for It Great. getting sales what ThyGeNEXT like reimbursed question going do be things in reimbursement you anticipate or may. more order have or their a I to seems want their doctors test if that drives

Jack Stover

right. will, that sales. is units is Two their you're they thousand things dollars. reimbursement product recognize and is out-of-pocket Yes, have recognition opportunity an and recognize that We'll certainly which drive One might physicians this we but patients patient a and reimbursed. getting that and that adoption look at you're basically acceptable the differently be not several if right

at reimbursement marriage where look the you our board If for and reimbursement. really across don't we have except

assays as Medicare have a reimbursement PancraGEN RespriDx we in is though even launch. We our as and RespriDx well on relatively well, have reimbursement thyroid for Medicare as new

a big that. certainly So of part is Medicare

be probably XX% tends very side PancraGEN important of older, component for is patient over the us is population. our very, the where to the On patient Medicare and

always last all been level concerned our and months What we opposite; of we're has XX new pressure be from well in oncology well excellent in pre-oncology are as the like our if not and the we as to being may I by able and Richard smaller such to the almost that is patient weekly, insurers. out reimbursement Greg being at reimbursement Medicare, value patients Medicare. you next the applaud from where you'll XXXX. not be of Blue to Blue of as we by into is since reimbursement but Cross Shield terms Commercial said, much always thyroid space. of but it and function covered seems the go. patient but basically to And in But but commercial proposition it's our the our to the it do for we the you tell Head in excellent. like with coverage, got you on really being the don't I side, tend the a the said grouping. but the that. not look covered that coverage It's a about the We many the where Again, But always been on snapshot younger community, like, pricing he's also points covered think where it's RespriDx, pricing as coming we say work in we're we certainly basically side. component nervous to like not in coverage our space, about is where if just a moving next a really Medicare by thyroid the On want prognostic. like inexpensive, contract. -- we like I reimbursement will private getting to of being are monthly moving beginning vision are, new All really And five coverage, or years. a able it's we're we're if

to a more up in we area. lot on but work we've certainly been so a contracts regular basis, have do picking And that

Unidentified Analyst

Thanks. Great.

Operator

make wish Jack closing any to comments? do you

Jack Stover

if you questions. morning following thank thoughtful the Thank all specifically this And us you that our out I'd thank the and for thank call. and look reach we free for have update like Rob. progress on And to any continuing and or to please that to unanswered us. Thanks are you and feel us forward your follow to further on you. Yes. you questions us analysts joining again, to

Operator

concluded. Thank conference you your you. participation. Thank Today's has for

Interpace Biosciences (IDXG) 15 May 182018 Q1 Earnings call transcript