INTERPACE BIOSCIENCES, INC. Files Q3 2024 Report

TL;DR

INTERPACE BIOSCIENCES (IDX) filed its Q3 2024 10-Q. Check financials.

AI Summary

INTERPACE BIOSCIENCES, INC. filed its quarterly report for the period ending September 30, 2024. The company, formerly known as Interpace Diagnostics Group, Inc., is based in Parsippany, NJ. The filing covers the third quarter and the first nine months of the fiscal year.

Why It Matters

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

Risk Assessment

Risk Level: low — This is a standard quarterly filing providing financial and operational updates.

Key Players & Entities

• INTERPACE BIOSCIENCES, INC. (company) — Filer
• Interpace Diagnostics Group, Inc. (company) — Former company name
• PDI INC (company) — Former company name
• PROFESSIONAL DETAILING INC (company) — Former company name
• 20240930 (date) — Period of report
• 20241108 (date) — Filing date

FAQ

Filing Documents

• form10-q.htm (10-Q) — 864KB
• ex3-1.htm (EX-3.1) — 569KB
• ex31-1.htm (EX-31.1) — 12KB
• ex31-2.htm (EX-31.2) — 12KB
• ex32-1.htm (EX-32.1) — 4KB
• ex32-2.htm (EX-32.2) — 4KB
• 0001493152-24-044265.txt ( ) — 5339KB
• idxg-20240930.xsd (EX-101.SCH) — 34KB
• idxg-20240930_cal.xml (EX-101.CAL) — 60KB
• idxg-20240930_def.xml (EX-101.DEF) — 124KB
• idxg-20240930_lab.xml (EX-101.LAB) — 280KB
• idxg-20240930_pre.xml (EX-101.PRE) — 234KB
• form10-q_htm.xml (XML) — 669KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1. Unaudited Interim Condensed Consolidated Financial Statements 3 Condensed Consolidated Balance Sheets at September 30, 2024 (unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations for the three and nine-month periods ended September 30, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Stockholders' Deficit for the three and nine-month periods ended September 30, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statements of Cash Flows for the nine-month periods ended September 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 21 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 32 Item 4.

Controls and Procedures

Controls and Procedures 32

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 33 Item 1A.

Risk Factors

Risk Factors 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33 Item 3. Defaults Upon Senior Securities 33 Item 4. Mine Safety Disclosures 33 Item 5. Other Information 33 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) September 30, December 31, 2024 2023 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 2,113 $ 3,498 Accounts receivable, net of allowance for credit loss of $ 26 and $ 0 , respectively 7,293 4,983 Other current assets 1,704 1,841 Total current assets 11,110 10,322 Property and equipment, net 1,352 790 Operating lease right of use assets 1,532 1,864 Other long-term assets 45 45 Total assets $ 14,039 $ 13,021 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable $ 1,701 $ 1,544 Accrued salary and bonus 1,687 1,969 Other accrued expenses 9,033 8,201 Note payable at fair value, current 5,688 5,100 Current liabilities of discontinued operations 660 660 Total current liabilities 18,769 17,474 Operating lease liabilities, net of current portion 1,189 1,472 Note payable at fair value - 4,243 Other long-term liabilities 5,227 4,968 Total liabilities 25,185 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; 4,532,991 and 4,447,489 shares issued, respectively; 4,404,795 and 4,351,445 shares outstanding, respectively 406 405 Additional paid-in capital 188,363 188,146 Accumulated deficit ( 244,405 ) ( 248,215 ) Treasury stock, at cost ( 128,196 and 96,044 shares, respectively) ( 2,046 ) ( 2,008 ) Total stockholders' deficit ( 57,682 ) ( 61,672 ) Total liabilities and stockholders' deficit ( 32,497 ) ( 33,515 ) Total liabilities, preferred stock and stockholders' deficit $ 14,039 $ 13,021 The accompanying notes are an integral part of th

View Full Filing

View this 10-Q filing on SEC EDGAR