INTERPACE BIOSCIENCES, INC. Files 8-K on Exit Costs
Ticker: IDXG · Form: 8-K · Filed: Jan 27, 2025 · CIK: 1054102
| Field | Detail |
|---|---|
| Company | Interpace Biosciences, Inc. (IDXG) |
| Form Type | 8-K |
| Filed Date | Jan 27, 2025 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: restructuring, disposal, corporate-actions
TL;DR
INTERPACE BIOSCIENCES (IDXG) filed an 8-K on 1/27/25 for exit/disposal costs. Watch for restructuring news.
AI Summary
On January 27, 2025, INTERPACE BIOSCIENCES, INC. filed an 8-K report detailing cost associated with exit or disposal activities, other events, and financial statements and exhibits. The company, formerly known as Interpace Diagnostics Group, Inc., PDI INC, and PROFESSIONAL DETAILING INC, is incorporated in Delaware and headquartered in Parsippany, NJ.
Why It Matters
This filing indicates potential restructuring or divestiture activities within INTERPACE BIOSCIENCES, INC., which could impact its future operations and financial performance.
Risk Assessment
Risk Level: medium — Filings related to exit or disposal activities often signal significant business changes that carry inherent risks and uncertainties.
Key Players & Entities
- INTERPACE BIOSCIENCES, INC. (company) — Registrant
- January 27, 2025 (date) — Date of earliest event reported
- Interpace Diagnostics Group, Inc. (company) — Former company name
- PDI INC (company) — Former company name
- PROFESSIONAL DETAILING INC (company) — Former company name
- Parsippany, NJ (location) — Business address city and state
FAQ
What specific 'Cost Associated with Exit or Disposal Activities' are detailed in this 8-K filing?
The filing indicates that Item 7.01 (Regulation FD Disclosure) and Item 9.01 (Financial Statements and Exhibits) are relevant to the 'Cost Associated with Exit or Disposal Activities', but the specific dollar amounts or details are not provided in the header information.
What are the 'Other Events' mentioned in the 8-K filing?
The filing lists 'Other Events' as an item information category, but the specific nature of these events is not detailed in the provided header.
When was INTERPACE BIOSCIENCES, INC. incorporated and in which jurisdiction?
INTERPACE BIOSCIENCES, INC. was incorporated in Delaware.
What is the business address and phone number for INTERPACE BIOSCIENCES, INC.?
The business address is WATERVIEW PLAZA, SUITE 310, 2001 ROUTE 46, PARSIPPANY, NJ 07054, and the business phone number is 412-224-6100.
What were the previous names of INTERPACE BIOSCIENCES, INC. and when did the name changes occur?
The company was formerly known as Interpace Diagnostics Group, Inc. (name change on 20151223), PDI INC (name change on 20021113), and PROFESSIONAL DETAILING INC (name change on 19980129).
Filing Stats: 714 words · 3 min read · ~2 pages · Grade level 12.3 · Accepted 2025-01-27 16:15:34
Filing Documents
- form8-k.htm (8-K) — 40KB
- ex10-1.htm (EX-10.1) — 19KB
- ex10-1_001.jpg (GRAPHIC) — 21KB
- 0001493152-25-003797.txt ( ) — 260KB
- idxg-20250127.xsd (EX-101.SCH) — 3KB
- idxg-20250127_lab.xml (EX-101.LAB) — 33KB
- idxg-20250127_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 3KB
From the Filing
UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): January 27, 2025 INTERPACE BIOSCIENCES, INC. (Exact name of Registrant as specified in its charter) delaware 0-24249 22-2919486 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) Waterview Plaza , Suite 310 2001 Route 46 , Parsippany , NJ 07054 (Address, including zip code, of Principal Executive Offices) (855) 776-6419 Registrant's telephone number, including area code Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered None N/A N/A Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 2.05 Costs Associated with Exit or Disposal Activities. As previously reported on its current report on Form 8-K filed on January 10, 2025, Interpace Biosciences, Inc. (the "Company") on January 9, 2025 issued a press release announcing that Interpace Diagnostics, LLC, a subsidiary of the Company, as result of the final Local Coverage Determination ("LCD") of Genetic Testing for Oncology (L39365) issued on January 9, 2025 by the Centers for Medicare & Medicaid Services ("CMS"), was discontinuing its PancraGEN test and would not accept specimens for first-line fluid chemistry and PancraGEN testing after February 7, 2025. As a result of the established non-coverage for the Company's PancraGEN test, on January 21, 2025, the Company announced on its current report on Form 8-K that its board of directors had approved a restructuring and cost-savings plan to reduce operating costs and better align its workforce with the loss of PancraGEN (the "Restructuring Plan"). On January 27, 2025, the Company announced that CMS had directed its Medicare Administrative Contractors, Novitas and First Coast Service Options, Inc., to delay implementation of the Genetic Testing for Oncology LCD (L39365), from February 23, 2025 until April 24, 2025. The Company stated that this change of effective date will allow the incoming Trump administration time to fully review the proposed policy changes, re-evaluate for themselves the supporting clinical evidence for the PancraGEN assay, and fully assess the negative impact on patient care if the currently proposed LCD comes into effect. As a result of CMS' determination to delay implementation of the Genetic Testing for Oncology LCD (L39365), the Company is re-evaluating certain parts of the Restructuring Plan and will determine what parts will or will not be postponed . Item 8.01. Other Events. On January 27, 2025, the Company issued a press release announcing the postponement of the implementation of the Genetic Testing for Oncology LCD (L39365) and the re-evaluation of its previously announced Restructuring Plan. A copy of the press release is filed as Exhibit 99.1 hereto and incorporated herein by reference. Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Press Release, dated January 27, 2025 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Interpace Biosciences, Inc. By: /s/ Thomas W. Burnell Name: Thomas W. Burnell Title: President and Chief Executive Officer Date: January 27, 2025