INTERPACE BIOSCIENCES, INC. Files 10-Q for Q2 2024

TL;DR

INPC 10-Q filed. Q2 2024 financials out.

AI Summary

INTERPACE BIOSCIENCES, INC. filed its 10-Q for the period ending June 30, 2024. The company, formerly known as Interpace Diagnostics Group, Inc., is incorporated in Delaware and operates in the Surgical & Medical Instruments & Apparatus sector. Its principal executive offices are located in Parsippany, New Jersey.

Why It Matters

This filing provides investors with an update on the company's financial performance and operational status for the second quarter of 2024.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.

Key Numbers

• 20240630 — Reporting Period End (Covers financial data up to this date.)
• 20240808 — Filing Date (Date the report was submitted to the SEC.)

Key Players & Entities

• INTERPACE BIOSCIENCES, INC. (company) — Filer
• Interpace Diagnostics Group, Inc. (company) — Former company name
• 20240630 (date) — Reporting period end date
• 20240808 (date) — Filing date
• Parsippany, New Jersey (location) — Business address

FAQ

Filing Documents

• form10-q.htm (10-Q) — 851KB
• 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
• 0001493152-24-030772.txt ( ) — 4531KB
• idxg-20240630.xsd (EX-101.SCH) — 33KB
• idxg-20240630_cal.xml (EX-101.CAL) — 59KB
• idxg-20240630_def.xml (EX-101.DEF) — 109KB
• idxg-20240630_lab.xml (EX-101.LAB) — 274KB
• idxg-20240630_pre.xml (EX-101.PRE) — 220KB
• form10-q_htm.xml (XML) — 637KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1. Unaudited Interim Condensed Consolidated Financial Statements 3 Condensed Consolidated Balance Sheets at June 30, 2024 (unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations for the three and six-month periods ended June 30, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Stockholders' Deficit for the three and six-month periods ended June 30, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statements of Cash Flows for the six-month periods ended June 30, 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 30 Item 4.

Controls and Procedures

Controls and Procedures 30

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 31 Item 1A.

Risk Factors

Risk Factors 31 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32 Item 3. Defaults Upon Senior Securities 32 Item 4. Mine Safety Disclosures 32 Item 5. Other Information 32 Item 6. Exhibits 33

Signatures

Signatures 34 2 PART I. FINANCIAL INFORMATION INTERPACE BIOSCIENCES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share data) June 30, December 31, 2024 2023 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 2,019 $ 3,498 Accounts receivable, net of allowance for credit loss of $ 26 and $ 0 , respectively 6,206 4,983 Other current assets 1,941 1,841 Total current assets 10,166 10,322 Property and equipment, net 1,126 790 Operating lease right of use assets 1,635 1,864 Other long-term assets 45 45 Total assets $ 12,972 $ 13,021 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable $ 1,761 $ 1,544 Accrued salary and bonus 1,243 1,969 Other accrued expenses 8,582 8,201 Note payable at fair value, current 6,784 5,100 Current liabilities of discontinued operations 660 660 Total current liabilities 19,030 17,474 Operating lease liabilities, net of current portion 1,286 1,472 Note payable at fair value - 4,243 Other long-term liabilities 5,146 4,968 Total liabilities 25,462 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 188,277 188,146 Accumulated deficit ( 245,685 ) ( 248,215 ) Treasury stock, at cost ( 110,759 and 96,044 shares, respectively) ( 2,024 ) ( 2,008 ) Total stockholders' deficit ( 59,026 ) ( 61,672 ) Total liabilities and stockholders' deficit ( 33,564 ) ( 33,515 ) Total liabilities, preferred stock and stockholders' deficit $ 12,972 $ 13,021 The accompanying notes are an integral part of these c

View Full Filing

View this 10-Q filing on SEC EDGAR