IDXG, our new trade idea has released news this morning that may be an additional catalyst for upside.
Interpace Diagnostics Announces Cigna Coverage of ThyGenX®
PARSIPPANY, N.J., July 27, 2017 (GLOBE NEWSWIRE) — Interpace Diagnostics Group, Inc. (NASDAQ:IDXG) (“Interpace” or “the Company”), a fully integrated commercial company that provides clinically useful molecular diagnostic tests and pathology services for improved patient diagnosis and management, announced today that Cigna, one of the largest national health plans in the United States, has agreed to cover Interpace’s ThyGenX® test for Cigna’s 15 million members nationwide, with coverage effective immediately. Cigna’s coverage combined with Aetna, United Healthcare, Medicare, and other payers brings the total number of covered lives for Interpace’s ThyGenX™ molecular test for indeterminate thyroid nodules to approximately 275 million patients nationwide.
ThyGenX utilizes state-of-the-art next-generation sequencing (NGS) to identify more than 100 genetic alterations associated with papillary and follicular thyroid carcinomas, the two most common forms of thyroid cancer. According to the American Cancer Society, thyroid cancer is the most rapidly increasing cancer in the U.S., tripling in the past three decades. Most physicians have traditionally recommended thyroid surgery where thyroid nodule biopsy results are indeterminate, not clearly benign or malignant following traditional cytopathology review; however, over 70% of these surgical outcomes are ultimately benign. Molecular testing using ThyGenX has been shown to reduce the rate of unnecessary surgeries in indeterminate cases.
Jack E. Stover, President and CEO of Interpace Diagnostics stated, “Cigna’s coverage of ThyGenX represents further acceptance among major health plans of our molecular products for Thyroid cancer. We are pleased that Cigna has joined the growing list of health plans that cover ThyGenX and that their 15 million members will now have access to its benefits.”
Source: Press Release
Our previous trade idea began trading around 0.98 following our alert and rallied to a high of 1.10 a few days later for upside potential of 12%. The trade opportunity did not break above its 20 day moving average to provide even more upside opportunity.
Today I would like to bring to your attention a new trade idea, one that I believe may potentially provide you with increased upside.
Trade Idea: Interpace Diagnostics Group, Inc. (NASDAQ: IDXG)
- IDXG rallied above its 20 day moving average a few days ago, rallying from 0.88 to a high of 1.06.
- Today IDXG has retraced some of this upside, currently trading around 0.96.
- In the event that IDXG is able to sustain its 20 day moving average of 0.90, this could provide you with increased upside opportunity.
- IDXG has a RSI of 56, suggesting potential for further upside opportunity.
- IDXG has a 50 day moving average of 1.35, 42% above current levels. This increased divergence signals the potential for increased volatility.
Interpace Diagnostics 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 diagnosis and prognosis of pancreatic cancer from pancreatic cysts; 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 Diagnostics’ mission is to provide personalized medicine through molecular diagnostics and innovation to advance patient care based on rigorous science.
Interpace Diagnostics Announces National Contract with Aetna
PARSIPPANY, N.J., June 28, 2017 (GLOBE NEWSWIRE) — Interpace Diagnostics Group, Inc. (IDXG) (“Interpace” or “the Company”), a fully integrated commercial company that provides clinically useful molecular diagnostic tests and pathology services for improved patient diagnosis and management announced today that it has signed a new national contract with Aetna for its ThyGenX ®and ThyraMIR® molecular tests for indeterminate thyroid nodules.
Aetna is the third largest health plan in the United States, with over 44.9 million members nationwide. The agreement covers many of Aetna’s products, including commercial and Medicare Advantage plans. It does not include Medicaid, auto insurance, or workman’s compensation products. The agreement goes into effect August 15, 2017. Aetna began covering ThyGenX in June 2015 and ThyraMIR in November 2016.
The agreement is the Company’s first national provider contract with a national health plan and means that Interpace will now be part of Aetna’s laboratory network for these services.
“The agreement with Aetna is another significant reimbursement milestone demonstrating our ability to convert our product coverage approvals with major insurance providers into successful contractual agreements,” said Jack E. Stover, Interpace’s President and CEO, “Coverage of our thyroid products has continued to increase and improve over the past few quarters and now totals over 250 million covered lives.”
Source: Yahoo Finance
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