INTERPACE BIOSCIENCES, INC. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>INTERPACE BIOSCIENCES, INC. (IDXG) filed its Q1 2024 10-Q report on May 9, 2024.</b>

AI Summary

INTERPACE BIOSCIENCES, INC. (IDXG) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. INTERPACE BIOSCIENCES, INC. filed a 10-Q for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's business address is Waterview Plaza, Suite 310, 2001 Route 46, Parsippany, NJ 07054. The company was formerly known as Interpace Diagnostics Group, Inc., PDI INC, and PROFESSIONAL DETAILING INC. The filing includes data related to common stock, treasury stock, additional paid-in capital, and retained earnings for various periods.

Why It Matters

For investors and stakeholders tracking INTERPACE BIOSCIENCES, INC., this filing contains several important signals. This 10-Q filing provides a quarterly update on the company's financial performance and operational status, crucial for investors to assess recent trends and make informed decisions. Understanding the details within this report, such as changes in equity and debt, is essential for evaluating the company's financial health and future prospects.

Risk Assessment

Risk Level: low — INTERPACE BIOSCIENCES, INC. shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not inherently contain significant new risks beyond those typically associated with public companies in this sector.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-Q to understand INTERPACE BIOSCIENCES, INC.'s current financial position and any emerging challenges.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed period of report)
• 2024-05-09 — Filing Date (Filed as of date)
• 2024-01-01 — Quarter Start Date (First quarter of fiscal year 2024)
• 2023-03-31 — Prior Year Quarter End Date (Comparison period)

Key Players & Entities

• INTERPACE BIOSCIENCES, INC. (company) — Filer name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-09 (date) — Filed as of date
• Parsippany, NJ (location) — Business address city and state
• Interpace Diagnostics Group, Inc. (company) — Former company name

FAQ

Industry Context

INTERPACE BIOSCIENCES, INC. operates within the surgical and medical instruments & apparatus industry.

Regulatory Implications

The filing is a 10-Q, a standard quarterly report required by the Securities and Exchange Commission (SEC) for public companies.

What Investors Should Do

1. Analyze the balance sheet and income statement for the quarter ending March 31, 2024.
2. Review any disclosures related to debt and equity financing.
3. Check for updates on significant business developments or risk factors mentioned in the filing.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-09: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, providing an update from the previous year's filings.

Key Financial Figures

• $0.01 — g May 3, 2024 Common Stock, par value $0.01 per share 4,376,398 INTERPACE BIOSI

Filing Documents

• form10-q.htm (10-Q) — 707KB
• ex31-1.htm (EX-31.1) — 19KB
• ex31-2.htm (EX-31.2) — 19KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 7KB
• 0001493152-24-018432.txt (&nbsp;) — 4369KB
• idxg-20240331.xsd (EX-101.SCH) — 33KB
• idxg-20240331_cal.xml (EX-101.CAL) — 58KB
• idxg-20240331_def.xml (EX-101.DEF) — 117KB
• idxg-20240331_lab.xml (EX-101.LAB) — 314KB
• idxg-20240331_pre.xml (EX-101.PRE) — 255KB
• form10-q_htm.xml (XML) — 539KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1. Unaudited Interim Condensed Consolidated Financial Statements 3 Condensed Consolidated Balance Sheets at March 31, 2024 (unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations for the three-month periods ended March 31, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Stockholders' Deficit for the three-month periods ended March 31, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statements of Cash Flows for the three-month periods ended March 31, 2024 and 2023 (unaudited) 6 Notes to Unaudited Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 28 Item 4.

Controls and Procedures

Controls and Procedures 28

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 29 Item 1A.

Risk Factors

Risk Factors 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30 Item 3. Defaults Upon Senior Securities 30 Item 4. Mine Safety Disclosures 30 Item 5. Other Information 30 Item 6. Exhibits 31

Signatures

Signatures 32 2 PART I. FINANCIAL INFORMATION INTERPACE BIOSCIENCES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share data) March 31, December 31, 2024 2023 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 2,812 $ 3,498 Accounts receivable, net of allowance for credit loss of $ 26 and $ 0 , respectively 5,006 4,983 Other current assets 1,598 1,841 Total current assets 9,416 10,322 Property and equipment, net 925 790 Operating lease right of use assets 1,756 1,864 Other long-term assets 45 45 Total assets $ 12,142 $ 13,021 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable $ 1,363 $ 1,544 Accrued salary and bonus 878 1,969 Other accrued expenses 8,574 8,201 Note payable at fair value, current 7,498 5,100 Current liabilities of discontinued operations 660 660 Total current liabilities 18,973 17,474 Operating lease liabilities, net of current portion 1,359 1,472 Note payable at fair value 1,343 4,243 Other long-term liabilities 5,072 4,968 Total liabilities 26,747 28,157 Commitments and contingencies (Note 8) - - Redeemable preferred stock, $ .01 par value; 5,000,000 shares authorized, 47,000 shares Series B issued and outstanding 46,536 46,536 Stockholders' deficit: Common stock, $ .01 par value; 100,000,000 shares authorized; 4,487,157 and 4,447,489 shares issued, respectively; 4,376,398 and 4,351,445 shares outstanding, respectively 406 405 Additional paid-in capital 188,224 188,146 Accumulated deficit ( 247,747 ) ( 248,215 ) Treasury stock, at cost ( 110,759 and 96,044 shares, respectively) ( 2,024 ) ( 2,008 ) Total stockholders' deficit ( 61,141 ) ( 61,672 ) Total liabilities and stockholders' deficit ( 34,394 ) ( 33,515 ) Total liabilities, preferred stock and stockholders' deficit $ 12,142 $ 13,021 The accompanying notes are an integral part of these c

View Full Filing

View this 10-Q filing on SEC EDGAR