IDXG - Earnings call transcript Q4 2018 | Interpace Biosciences, Inc.

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Operator

Greetings, and welcome to the Interpace Diagnostics Group Fourth Quarter and Full-Year 2018 Financial Results, Business Progress and Recent Announcements Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. I’d now like to turn the conference over to your host, Jack Stover, CEO. you. Thank

begin. may You

Jack Stover

as and After for and more fourth a ended our our with as fiscal Matt, today performance With joining Jim financial overview, is quarter you Jim us detail. year Early, well XXXX, XX, today review Financial December in to good you, date. thank me Officer. afternoon, Chief for and activities my Thank you of review our will

for that, will the questions. Following call your we open

our mission on of at Interpace Let do you me here as I all remind calls.

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

diagnostic identification, is focused assessment market. microRNA and bioinformatics cancer. the of U.S. ThyraMIR on indeterminate strictures. as four classifier As molecular focus is available tests nodules commercialized thyroid well together. solid our ThyraMIR for first sequencing risk cancer commercially now first you ruling for and ThyGeNEXT know, of for thyroid on thyroid. as for the sophisticated is and test that work the currently typically cancer on next-generation expression pancreatic test evaluation we PancraGEN out nodule masses, gene ThyGeNEXT only and in cysts biliary have ruling

growing of fourth of for straight quarter the or prior improvement the Year-end cancer fourth revenues another Our over quarter foray representing the Interpace, our the quarter and grew to improved a XXXX and XXXX. guidance XX% newest million, high-end revenues, quarter quarter commercial was over XXXX net of net diagnostics. XX% previously fourth The $XX.X $X.X is fourth the with of net lung at product, into we revenues provided. eighth RespriDX, strong to the million, year

made very made while and approximately revenues, to our rationally record revenues up in I’m pricing business as a or In our thyroid Our our our once cash monthly we we towards again. break-even. XXXX, improved, XX% as our and grew meet test year-to-date, with convert collection revenues, pancreatic nice our pleased our our a continue of net once balance. aggressively flow up net drive realizable we collections net of a grow cash costs. GI value franchise volumes while NRV, believe franchise approximately well in XX% system our resulting new quarterly will improvement we to to Further, or business, as needs, continue managing billing again as that better net

reduced the cash in improvement to was for Importantly, XX% $X.X year, our million operations used a XXXX. over

collections our public cash $X bank we believe offering, credit improving Additionally, loss net XXXX. million at year-end, for improvement good underwritten net. an availability our for future. than our line of a of With we we to under our an more was million cash, quarter have and additional over the agreement million cash XX% on $X.X current the us In the raised comparable borrow $X.X foreseeable in puts the hand a position of funds recently quarter

access of important following. into molecular our distinct three providing to high-quality continue commercial tests operating includes entered of and now FFPEs, with further date them We for novel We slides agreement platforms service. to and the the system as to an FNAs, Maryland we most focus offering of under our Medical all delivering and University differentiated client on the Our tests. of progress and year by business expansion thyroid announced quarter,

cover slides of previously interim in And lives policy the addition ThyraMIR, business to new to to we assess approved potential Cross utilizing XX Shield Blue plans Federal thyroid registry the the ATA, our we our covering also to assist also Health X.X ThyGeNEXT. Also Philadelphia thyroid indeterminate expansion Rosetta’s equipment thyroid or our transition of assays. of biopsies. Employee Association, the the covering most team Blue results Benefit the data in million utilize We and as own Thyroid our by Cross, lab of Program clinical Rosetta CIGNA commercial coverage proprietary release the now of Blue XXXX, completed that labs. and Blue assays, new announced well American progression covered to its announced to We our in Shield insurance assay, the added thyroid us of of our further acquiring of as supporting use ThyGeNEXT and ThyraMIR of

for on strictures and principally ThyGeNEXT, progress just and include product Annual thyroid beyond successfully including lesions pancreatic of panel pancreatic to Meeting at Our expanded product be focused been several course, XXXX, our cysts indeterminate the – for extension planning new AACE and in Meeting, studies. supportive nodules, to proprietary new solid expanding extensions mutational assay PancraGen our biliary clinical has both launching introduced

further on results sophisticated product BarreGEN leadership of BarreGEN. is Dr. to Tina Clinical a pipeline and responsibility as and of our our of or developing high major Our to CEP, Program, Evaluation pathologists We team. BarreGEN a and of recently continues assigned gather clinical focus pipeline in our principally data additional member launching Narick, focused users. build one our is we development

we of already help our progress Camuti the are seeing With of Jim accelerate. team,

in and organized us. Tina guide opinion key a to of leaders space help have Jim this For group example,

scheduled is meeting in next June. Our

to at We’re of visible cancer. years any the working to second ability cancer to BarreGEN progression on clinical esophageal our risk to of signs prior patients of identify validation support study

discussions and, that’s We in Medicaid for Centers are of BarreGEN course, Medicare & coverage reimbursement-based. the with Services of about

the discuss partners continuing to with BarreGEN. with co-market potential codevelop discuss and/or are opportunity – We to

important clinical receiving the Trademark issued. And and first Open Allowance covering Notice publication announced Gastroenterology U.S. an Office Patent from BarreGEN. finally, BMI also utility of was the BarreGEN We in of independent demonstrating

patients. for We have be important provide of confident Esophagus potentially in that standard opportunity to state Barrett’s are to and critical leader we the disease this a the information improve care

importantly, who have positions our team commercial high-level leverage know, to practices. GI are utilize endocrine and continuously access you we and and we able in As our product to offerings expanding are

offerings also focused also We’re of acquiring our United in-products, expand outside product the to licensing States. on or while seeking

now doing are and elsewhere. Israel, Canada, Brazil We in business

Additionally, I bioinformatics Jim? evaluated. we and year-to-date. the and partnering potentially over the financial leveraging we our by our would have quarter that, Jim the offering CFO, With and on like to samples pharmaceutical space off our data are the to Early, capabilities focused highlights for discuss XX,XXX to in and hand call

Jim Early

Thank you, Jack.

the like looking I financial a started review get provision. forward read of I’d statement to Before the results, with

forward-looking and remarks you financial about the a is future SEC, this These for not are discussion factor public in statements with plans, XX, made as and statements in periodic projections, conference statements. that section judgment obligation or shortly. intend described outcomes are beliefs assumes the the statements investors to the statement that to the the risks This are will During expected and made date to to call and and risks should that company those Interpace’s statement on these reflect the or of call, statement. expectations, the and do forward-looking uncertainties These and not statement includes any in uncertainties Form in be the and risk these events company’s We forward-looking risks. historical filings is conference fact subject in read differ the carefully Safe forward-looking potential as caution the XX-K a of update statements. cause release, based call numerous forward-looking today’s consider does associated Investors could filed from actual this with our ended has to prospects. of is described results important analysis as actual including well materially which earnings no year XXXX, Interpace in so. December Harbor to

the the non-GAAP our believe supplemental have this which and the information company. financial that on of summary supplement In numbers, Generally and included We elements position provides information to or results to the the GAAP, information be earnings is in performance available the information. Accounting is like begin would may everyone. addition, company’s in performance. GAAP financial information key Today, Principle, and meaningful of non-GAAP some its table of afternoon, We Accepted Good on financial A to the helpful website. non-GAAP the focus company’s assessing we can reconciling I position. provided release,

As continues fourth previously $XX.X XXXX. over was million, was comparable period the Net prior improved full-year and to of XXXX the principal business. growth net for XX% revenue growth XX% an quarter reason from revenue of for revenue our reimbursement the be in XXXX increase our and the mentioned, endocrine $X.X increase units year. net GI The million, a in thyroid for majority was our of both our franchises. The both expansion

thyroid as both businesses However, and our growing are anticipated. GI

and and our to or compared million, in increasingly due as full-year compared comparable royalties. competitive XXXX, year, supporting to XXXX, of were compared and million the to percentage sales Research activities compared of reimbursement, and XX% were for year, reduced compared marketing XXXX. fees product percentage profit Sales XXXX, was XXXX decrease $X.X to $X.X $X.X XXXX. mostly and XXXX fourth and purposes. fourth XXXX increase was for to costs million, as the of of quarter for for Our XXXX. of mostly profit for acquisition expense growth. was over XX% for of for the with our compared fourth the improve sales as XXXX and XX%, were costs us development, materials transaction gross the for General to XXXX. XXXX, R&D an to million for XXXX, the – costs as as to important $X.X prior XX% by G&A, timing as for $X.X of million XX% of compared of period $X.X as commercial for continue as prior becoming $X.X million, to due gain and primarily $X.X quarter as our activity as $X.X Gross expand importantly, relative XXXX million comparable marketing compared XX% for are net our growth. in marketing R&D, period XXXX, the to and costs a costs quarter for marketing revenues, of million continued XXXX and leverage our administrative, or million fourth the sales Important activities costs the us costs clinical quarter or as XX% percentage are as for for increased were to a the for of consulting demonstrating well an sales we costs the for to XX%, to R&D to

as revenues XXXX G&A were our as to of expense as G&A percentage Importantly, XXXX, in declined. compared XX% a net in and net rose revenues XX%, expenses

Our of compared million, for to the period the $X.X as G&A of XXXX XXXX. $X.X million comparable were for fourth costs quarter

both $X related information fourth quarter million respectively, of XXXX and for from offset net the of $XX.X million, comparable net and to expenses $X.X to The was loss loss XXXX loss net to to period contingent as As of compared includes and in The – of quarter net years. year-end and million, above, in non-cash noted for $X quarter continuing expenses, was was value million the was full-year XXXX loss restructuring charges million XXXX as both the the XXXX. $XX.X a compared loss million fourth an fourth XXXX consideration. from the XXXX XXXX net $XX.X continuing the million, result for operations the XXXX to of while $X XXXX for for the fair $X.X for million, operations for while loss million XXXX of $X.X increase a included both

taxes, related to in consideration, interest, a as or amortization to our depreciation mark-to-market operations, financial loss liability and impairment, when other for as As interest, of or debt, our excluding We our warrant asset to EBITDA revaluing earnings adjusted loss evaluating and above, contingent we fair often charges. referred cash stock-based taxes, and non-cash earnings costs and as income value EBITDA, before adjusted define non-GAAP expenses, noted discussed we of extinguishment from continuing adjustments compensation, measure purposes usage. depreciation release our well amortization, on

ongoing versus XX% revenue adjusted the cost of EBITDA for negative and operating $X.X a net confirming improvement XXXX Importantly, respectively, our containment. was negative and XXXX gains trend full-year million, $X.X million

ending periods million $X.X negative negative was three-month and respectively, XX, Our that’s $X.X and adjusted XXXX $X.X million, EBITDA million, respectively. the XXXX December for million $X.X and

Our end the cash of million. position was XXXX $X.X at

XXXX. in restructuring XXXX extent million expenditures Capital the These XXXX. XXXX approximately $X.X million transaction in monthly $X.X XXXX. from Our lab approximately and amounted expenditures nothing $X.X in from cash Total a in monthly Rosetta for million equipment to $X.X included of almost monthly discontinued XXXX greater purchase and XXXX to burn burn operating averaged greater and to cash consisting primarily the of consistently costs quarter costs, in – XXXX, and million during operations. XXXX due increased third both in to

working to million of abilities will credit for accrual the XXXX lab this – January not an and $X.X an revenues growing of our is $XXX,XXX cash needs. $XX capital Total this million net a excuse certain ASC $XX a we revolving $XX year-end it at million principally at expansion we $X.X partially and resulting of working assets the under of we end date, recognizing have on December and million adoption million, Silicon our under to million receivable have XX, compared approximately XXXX to facility total were to credit. from recognized our a and as is basis of us as all today, three-year of XXXX, long-term believe that equity November simply due due revenue effective line an and when accounts Our funds XXX, from to no on with XXXX, increased line To capital debt being term Valley any me, entered This XXXX. outstanding. into purposes ATM, payer a We borrowed not revenue of basis. At was groups managing including bank facility component. were up credit stockholders’ Bank, In $X in X, in line. assist

XX, is operator, sales added the compared reps the and team. the end the to turn planned, XX Matt. third Jack With account currently to as me lab quarter, call our personnel, of we as as headcount let several back and Our that, at commercial managers, to

Operator

question Wainwright. you. Great. this H.C. will session. time, from Our At Chen be a from ahead. first question-and-answer [Operator conducting we is go Instructions] Yi Thank Please

Yi Chen

in in by continue in whether driven whether the will PancraGen Hi. gross and XXXX? momentum general question. provide ThyGeNEXT, Thank be you and a first My continue for XXXX, taking is, likely you my gross in sense XXXX question observed can to that ThyraMIR will

Jack Stover

question for in you’re it’s What growth saying Hi, And – Yi. Yes, is thanks your let me where XXXX, right, it from? your question. clear. just get the coming

Yi Chen

Yes.

Jack Stover

Yes.

let me that. address So

about our we revenue. all, as in really to line very conservative of give give. quarter, the line First guidance typically what in revenue terms that’s guidance you top at guidance provided of only We the in top we’re the we’ve of know, done first Today, plan we’ve that and end past.

It BarreGEN. from both is thyroid GI significant Our indicative of growth growth our from budget does a plan of and our XXXX or our for amount our coming franchise. not anticipate coming studies in XXXX, working lucky least get could currently although, product of in it’s we but and we dependent At that upon could on. are we launch the a bigger way, that some

relates to both tell can through are activities. And we’re from we of of plan that we our almost and currently, receiving, March point you view. are guidance for it PancraGen of and we the operational right an end the thyroid units are where is in XXXX performing I excellently, As on terms what that and the are

for what we guidance given haven’t specific do XXXX. around plan today, we However, to do

Yi Chen

platforms, – three there evenly Okay. of on ThyGeNEXT any they of the or the or offered two tests different three one concentration are or is terms And distributed? ThyraMIR in platforms,

Jack Stover

know, relates Jim, And slides. accelerating. Yes. the that as revenue growing. primarily we They it’s was I growth in principally needle two, were what of last or FNA And percentage don’t aspirant-based that’s are not operation technology. to or slide I In been say, fact our I’d the distributed. year the has fine the evenly But from forget it that,

Jim Early

right. growing, Definitely

Jack Stover

mechanisms that’s in across What’s piece is platform the though, in a we’re to and view, physicians The XXXX, evaluate and have certainly being different of late that about paraffin able visit of about nice when far that we see separate really to platforms and that or in the most to customer talking we go the want FFPE point is confidence three customer behind. a was results. biopsies terms these a of from initiated pathologist they accurately recent so a provides lot how it,

reason customer or rationale significant piece. a is our certainly growth continued been it’s So service for that

Yi Chen

clinical BarreGEN can see? within readouts XXXX, – many readsout expect how And data to from Okay. we

Jack Stover

I’m sorry, say… BarreGEN or would you

Yi Chen

Yes.

BarreGEN, Sorry, yes.

Jack Stover

Right.

have evaluation expect a reoccurrence. progressors XXXX for predictive we clinical in and looking to that to readout we clinical we’re of expecting also what validation is, a see see So

and expectation the XXXX. of XXXX second-half is of Our them that, in likely early likely it’s in one

Yi Chen

And finally… it. Got

Jack Stover

that, just going have ongoing study If experience also clinical clinical can our on. experience mention I also our we or

And so to much published, like we see CEP the that independent of that more as study was that expect continues to progress. program

Yi Chen

compared remain XXXX. to to we stable Okay. Can And the in operating XXXX? relatively on that finally, expenses expect

Jack Stover

Yes.

relates steady. of it the to relatively As to our I continuing see percentage revenues, that be

and and what is not bigger as improve commentary, of As compete, part in but a looking R&D to Jim as reimbursement his said only we especially the bigger to marketplace well. clinical in becoming work do, we’re the

see will relatively So Yi. grow, that that to continue number but I number being consistent,

Yi Chen

it. Thank Okay, got you.

Operator

Palomeque go question from next is Our Maxim from Please Group. Caroline ahead.

Caroline Palomeque

taking Hi, good afternoon. for the Thanks question.

just you So is the I your wondering have color what if think just any you – have about just first cash – could question more I runway. till? runway you what you on you was

Jack Stover

we say for burn which current for commentary future in Yes, we out look coming in We based in we’re year – down. Sure. as shape. and the good is, our feel in our foreseeable pretty – rate, over like year-and-a-half us upon fact, a the

on about to in forward. flow our flow to in mechanics from our be And million $XX a fund be costs, talk about break-even point for revenue, rate to revenues continue break-even. get we’ll the able of we to that estimate when that we cash will think fund current growth that, continue we our me us Let run development cash is to based that meaning able the

run XXXX, or middle for we the not it tell do there quickly you get is is plan getting plan And how is the XXXX. in but question The so $XX timing. to of million will that the our I that’s rate? So the

Caroline Palomeque

That’s with I’m that And sort what really you if just of meeting you talk at helpful. I’m BarreGEN. wondering just your the June KOL could meeting? wondering just then discuss on group to about hope

Jack Stover

all Yes, KOL – the have so three groups. separate we

specifically in on KOL We have PancraGen. a focused group GI,

have have now we We as thyroid, GI group a a in GI and in group BarreGEN well.

year part And is, them if And that is forward group we it’s evaluation our business the so and we present the or have of of the luminaries, and basically listen Esophagus them. to what profile moving you Barrett’s a do most terms next plans we in it of about that what two. with options programs the do is, And we’ll will, in area. are really in great or

So when focus group. Esophagus they the share of we whole lot on our ideas. get hope of is prepared. terms walk we Barrett’s need well together, and very activities as They to active that, it’s away with targeted a what when And accelerating to program. in They a come

ask So view closed-ended, to it’s their open-ended meaning, direct obviously, questions. open-ended more a well on than it oftentimes don’t we but their to And are them, do KOLs us, customers, point not just tend of as point both it responses, because more as of we are on view, as critical a is have scientific to we relates academic practitioners and importantly, of that most the commercial publishers.

So it’s diverse group. a very

Caroline Palomeque

thanks. Okay,

Operator

is Partners. Haynor [Operator from next question ahead. Please Instructions] Alliance from Our go Global here Ben

Benjamin Haynor

Thanks gentlemen. for the questions. Good afternoon, taking

of just is provide last any things you grow. helpful? what you year? will revenue. we that international sorry, to And revenue, do proportion there if will can First this that I plan around I – heard, expect of do international up revenues off, here I terms of for revenue know And on I’m continue how international would side guess, there this to the I it make X% color be missed – earlier. was But think – in of me, think

Jack Stover

RNA a to a are especially It’s still ship going is was refrigerated resilient. assays growing. and have for opposed company, closer that the side, the we X%, we X%, it It in The X%. to form. is company because part as We very thyroid be samples Ben, to messenger the retain utilize there, don’t of to high we’re microRNA-based nice projected. do in a XXXX, what as X% Yes. probably originally we RNA-based our on themselves

And time length or the stable. assays heat whether it’s transportation, so the even or been cold of of have very

stone talking in the our certainly, is plan to opportunistic. South into as And that’s really companies logically us. be next are Korea product stepping a we to about Asia, place licensing Our and for

Benjamin Haynor

their – in be would to that And test the or they Korea would ship they they would would you them South potentially? the running or be guys, lab,

Jack Stover

able them Yes, assays their the either ourselves the we we grows, run do the do way, we nature Canada like by in what likely expect would be we the do. road, tests like labs certainly we because for themselves. volume we’re having always But for begin But assays technical of would running of they that for and if about cautious Israel. would run down to our

Benjamin Haynor

on – just are then about need there, X-K year closer that you or getting those piece hear And to this that I it. might what the bioinformatics you how going, and Got discussions are is to in something should thinking one? we mean, having expect to

Jack Stover

Yes. sequencing word is the on. evaluation a I the we of that around company. good deal are And we volume a use going remember, that data targeted There have, mostly analysis of,

And diagnostic terms so what broadest-based do. we not assays, are you our of company at we in when look the

thyroid it’s a the the take have good is sequencing certainly down, areas as therapeutics is – a we importantly, to see with cancer Two that the as of But that one you’ll And, recognize pancreatic very that as for is lung some continued reasons broader-based Barrett’s interest where of just that the of coming a And ability well in to I the growth got biomarkers opposed into area and important Esophagus matter course, cost if area. of the data. the that space. will, see in we targeted or it’s think But a in especially lot the area tend growing. you area we all are the we growing. sequencing, So to areas provide broader-based pharmaceutical position we biomarkers. of see data of providing interests and we

you So going I tell that. on. a we have can’t lot

that to marketplace. lot before go We’re close on but will the that to activity, concept work X-K there’s an type of hit a has X-K

Benjamin Haynor

Understood. I that’s guess, I me little BarreGEN. And But than but than mean, for do CMS it a with sound having guys on anticipated. maybe that we lines. between progressing me then, certainly It the the great? color faster you’re this are faster just you conversations like is lastly, on – sounds would you or anticipated, progressing bit maybe any have those What there, how be discussions expect reading

Jack Stover

As couple as you platform know, it’s assay hard lung to assay our do Barrett’s assay, is as our well built a the reimbursement. quite both handicap pancreatic that. know that But that is have what frankly, is on One our as things. we of same received and cancer

So great to start. place that’s a

other that of there’s yet, a core from space capability molecular this not the of fits competition very a The well in of point evaluation. into lot our is and view, prognostic

Esophagus to is that So golden potentially early to that able goose And can here our to esophageal at know those it’s group deadly Barrett’s stage a cancer. very an from KOL we good the patients be identify fit. progress

so surgery. the is by and for the that around thyroid, use PancraGen way, And we for that reduction mechanism in

put clinical believe work. that R&D more in For that, an we emphasis gaining costly and on about data Barrett’s terms terms expensive be reduction The radio it’s requirements why becoming ablation, happening are the we or in a about of readouts, quantifiable around our frequency that’s CMS least, that and good that at in can it’s of is and and really Esophagus, process. reimbursement for with news what’s very and the it’s

but think. So, again, to certainly we’re it’s on hard track the we right handicap,

Benjamin Haynor

Thank guys, much Great. questions. the so taking you, for

Jack Stover

Yes. Thank you.

Operator

go Our Cohen Please Thalmann. next question Ladenburg from Jeffrey from is ahead.

Destiny Buch

I what’s Thank circle Destiny believe your representatives there just I know for to for headcount. is for taking you enough XXXX? during add you you current wanted on on to back or additional XXXX from this that XX. headcount many propel for to plan you on to were just target if And XXXX? I to adding how felt comments the reps? Hi, the And Jeff. do wanted you if like plan so, questions. actually XX you said your was if

Jack Stover

good me Destiny, Sure, that. Yes, be clear let about question.

the really not the is entire headcount for XX-person Our side company, the exclusively. for commercial

our team depending looked commercial is roughly in of the it in roughly a side. and team if to support the people basically, behind how side thyroid there’s in people, upon people then right commercial you at XX maybe that a team GI XX that So group the people XX now, And continue you count or that. commercial

of people our of these So than are are the in people, more of operations, XX are our greater I’d third part than commercial another and in really even a business, third really our in say, people the then What and said had. grow lab. roughly at the side which we XX%, done the the activity commercial of to have do is the growth what cycle continue we’ve we is roughly will our that we’ve

reps sales and if goals the revenue people do. through to of what It lot of done. for has headcount, be load up. new give pull cash good the least what at commercial sales time won’t of or commercial second-half of our Typically, a they try we really of been we on want we’ve got much positive sales So the year headcount, us terms that in the especially of flow in positive rep them a because very the front-end reach to of to of if terms able you the takes will, to catch a bringing in positive get get period chance or the we’ve expansion, the to primarily

be adding XX is our to we’ve effectively will it headcount, as we adding which people we what think done year. see that think, than though a I with less that from consistent is in really will I continue grow people, additional be current you And what past, the will in we’ve XXXX. been

Destiny Buch

six conferences my any Thank scientific be, should are to three Okay, I expecting the planning got attending months? question you. And And would be then, you any within it. last on we guess, next presentations?

Jack Stover

terms because Yes, at of shortly, as reach schedule know, on or give say, And have a that and don’t constantly the we’ll with share on I’d or upcoming we’re but be what’s next update I I Destiny. honest conferences. me you platforms another that. terms But both I’ll XX conference. in happening you in moment. we’re yes, question, and the this endocrine you, And the GI posters, And that we’re different every right you and the so. of days my month in right doing with business. don’t we’ll – an have we’re the just with answer out conferences attending at now to presenting in either is,

Destiny Buch

Okay. Thank you.

Operator

the I Mr. Great. Thank session. you. Stover any question-and-answer closing turn to for like floor the comments. would back This concludes to

Jack Stover

expand Well, we mentioned, grow Matt. plans in in as I that. of XXXX, we’re support to XXXX And strong and terms continue QX. continued Thanks, activity exceptional and to growth do unit very Obviously, in of for seeing continuous are our our key franchises. both rates at I to think

near-term we see multiple have about in us, While gaining we really What from could inflection believe can’t in success opportunities already. and for talked I guarantee really factors, lead I’ve you we which foremost drivers think, and value our reimbursement. that to first points do additional some us of is XXXX, additional

assays. gain of to opportunities contracts more and with have both with commercial our especially to add PancraGen, insurers thyroid more We

new PancraGen that, for remember and sales both of to We around business. for managers that our we XX% about team. XXXX. Now our thyroid look talked coverage the have again and leveraging forward growth We to our target commercial reps Medicare account

the our see our how anxious and that KOLs, Rosetta. talked place since enthusiastic University and advice the able that we’re Nick with especially with slide XXXX. direction more than acquisition biopsy BarreGEN together the to what took came of late we a Carolina North with group be the Shaheen especially did from to Dr. especially and about to KOLs, engaged from support we in We us. And accelerate, about that continuing of the to much of bit little business We’re

our expect and organic biliary us, to for new applications and, course, look of launch continuing. targeting solid that them, growth thyroid we’re we to will again key we areas lesions of So our for of But have and beyond that of the things be new full sort And, XXXX we applications for technology working we PancraGen, XXXX initial see for product, expect we that the presentations. already activity see upcoming that been at next-generation on in of scientific beyond and course, provide good us ThyGeNEXT, to business. in us drivers we the look successful leverage as strategic for

We us already have company in capabilities. that of samples. a microRNA-based of explained placeholder unique being for business, thyroid We’ve stability very in a terms good of has I microRNA taken been how advantage our

And going the terms and down about engaging four, identify, with and, data indeterminate present now a international but $XX,XXX especially the our have opportunities, expertise very cancer – course, do metastatic part important, with a that We there’s application obviously is into we biopsies, since data we over our of most And opportunity to with effectively, is obviously, of and is expand years cancer a we’ve evaluate of patients of not. with key artificial activity. And, success to to we’re intelligence obviously amount expanding I player five what reimbursement fair we’re those that of are our basically to mean years is determine as have a when and to therapeutic points of that, dealing pathologist getting now possible, market prognostic third That in lot cancer. for soon around our those us. that in proven by hitting for is the areas which is of product plans, product BarreGEN course, is of mostly in milestones data able we’re for important. how expand our biopsies, of evaluate we by market footprint, as driven with or indeterminate medicine We other means and with role activities the being only course, road, parties. which that us matter that gained three, progress over the our biopsy-based that in XX what space whether to ability pipeline then, to with leveraging able talked a can’t

we competitors from and more apart and believe diagnostic us robust set companies. So opportunities molecular other these our less

So, to Matt, have I say. all that’s

Operator

Well, teleconference. you. this does Thank Great. today’s conclude

your Thank again, this participation. you, may disconnect your time. for at You lines

Interpace Biosciences (IDXG) 19 Mar 192018 Q4 Earnings call transcript