Stock Alert: Interpace Biosciences Stock Up 18% In After-Hours Session

(RTTNews) - Shares of Interpace Biosciences Inc. (IDXG) rose 18.59% to $7.21 in after-hours session on April 22. The stock has been trading between $3.80 and $11.00 in the past one year, and closed Wednesday's trade at $6.08, up 25 cents or 4.29%. IDXG, further gained $1.13 or 18.59% in the extended trading session.

For the first quarter, the company expects net revenue in the range of $8.8 million - $9.3 million as compared to $6.0 million reported in the first quarter of 2019.

In spite of its test volumes dropping throughout March 2020 due to the coronavirus pandemic, diagnostic average daily test volume increased about 25% and pharma services average daily testing volume rose about 64% when compared to the first quarter of 2019, the company said.

Highlights:

* Acquired Biopharma Business of Cancer Genetics in Second Half of 2019. * Raised $47 million from Two Top Private Equity Firms. * Expects to Launch COVID-19 Serology Testing in Q2-2020. * Appoints Robert Gorman as Chairman of the Board. * Withdraws FY2020 Guidance.

The company reported Q4 net loss attributable to common stockholders of $11.1 million or $2.89 per share, wider than the previous year's loss of $4.04 million or $1.41 per share.

Net revenue declined 30% to $4.07 million from $5.83 million generated a year ago. FY 2019 fourth quarter revenue included a $5.2 million reserve against prior quarters' outstanding receivables which reduced net revenue for the quarter accordingly.