Reports Q4 revenue $10.3M vs. $8.3M last year. “2023 marked the 3rd consecutive year of price-adjusted revenue and profitability growth for the Company” said Tom Burnell, President and CEO. “Revenue and adjusted EBITDA for 2023 were $40.2 million and $5.4 million improving 26% and 463% versus the prior year, respectively.” Burnell further said, “Continued reliance by physicians and patients on the use of molecular diagnostics for risk stratification of pancreatic and thyroid cancer is evident with continued adoption of the Company’s PancraGEN and ThyGeNEXT + ThyraMIR v2 tests.” Mr. Burnell added: “These results are even more impressive given the challenges imposed upon numerous diagnostics companies in 2023 related to proposed changes to Medicare reimbursement for many diagnostic tests, including Interpace’s PancraGEN/PathFinderTG assay for pancreatic cancer. While final decisions are still in progress, I would like to congratulate the talent of the organization for undistracted navigation through these unprecedented events and for the overall success of the Company. Our collective team is resilient, strong, and dedicated. They, along with our physician, hospital, and laboratory partners are committed to providing information that helps guide the treatment of the patients we serve.”
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