Interpace Biosciences Inc 2025年季度报告

FORM10-Q INTERPACE BIOSCIENCES, INC.FORM 10-Q FOR PERIOD ENDED MARCH 31, 2025TABLE OF CONTENTSPage No.PART I - FINANCIAL INFORMATIONItem 1.Unaudited Interim Condensed Consolidated Financial StatementsCondensed Consolidated Balance Sheets at March 31, 2025 (unaudited) and December 31, 20243Condensed Consolidated Statements of Operations for the three-month periods ended March 31, 2025 and 2024 (unaudited)4Condensed Consolidated Statements of Stockholders’ Deficit for the three-month periods ended March 31, 2025 and 2024(unaudited)5Condensed Consolidated Statements of Cash Flows for the three-month periods ended March 31, 2025 and 2024 (unaudited)6Notes to Unaudited Condensed Consolidated Financial Statements7Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations21Item 3.Quantitative and Qualitative Disclosures About Market Risk28Item 4.Controls and Procedures28PART II - OTHER INFORMATIONItem 1.Legal Proceedings29Item 1A.Risk Factors29Item 2.Unregistered Sales of Equity Securities and Use of Proceeds29Item 3.Defaults Upon Senior Securities29Item 4.Mine Safety Disclosures29Item 5.Other Information29Item 6.Exhibits29Signatures302 INTERPACE BIOSCIENCES, INC.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(unaudited, in thousands, except for per share data) INTERPACE BIOSCIENCES, INC.NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) 1.OVERVIEW Nature of Business Interpace Biosciences, Inc. (“Interpace” or the “Company”) is a company that provides molecular diagnostics, bioinformatics and pathologyservices for evaluation of risk of cancer by leveraging the latest technology in personalized medicine for improved patient diagnosis andmanagement. The Company develops and commercializes genomic tests and related first line assays principally focused on early detection of 2.BASIS OF PRESENTATION The accompanying unaudited interim condensed consolidated financial statements and related notes (the “Interim Financial Statements”)should be read in conjunction with the consolidated financial statements of the Company and its wholly-owned subsidiaries (InterpaceDiagnostics Lab Inc., Interpace Diagnostics Corporation, and Interpace Diagnostics, LLC), and related notes as included in the Company’s The Interim Financial Statements of the Company have been prepared in accordance with generally accepted accounting principles in theUnited States (“GAAP”) for interim financial reporting and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, theydo not include all of the information and footnotes required by GAAP for complete financial statements. The Interim Financial Statementsinclude all normal recurring adjustments that, in the judgment of management, are necessary for a fair presentation of such interim financialstatements. Discontinued operations include the Company’s wholly owned subsidiaries: Group DCA, LLC, InServe Support Solutions; and 3.LIQUIDITY In October 2021, the Company entered into an $8.0million term loan with BroadOak Fund V, L.P. (“BroadOak”) (the “Term Loan”), theproceeds of which were used to repay in full at their maturity the existing secured promissory notes with Ampersand Capital Partners(“Ampersand”) and 1315 Capital II, L.P (“1315 Capital”). In May 2022, the Company entered into a Subordinated Convertible PromissoryNote agreement with BroadOak for an additional $2.0million (the “Convertible Note”), which was converted into a subordinated term loan and Further, along with many laboratories, the Company will be negatively impacted by Local Coverage Determination (“LCD”) L39365, whichwas finalized on April 24, 2025 by our local Medicare Administrative Contractor, Novitas. This LCD, which governs “Genetic Testing for Oncology,” resulted in the loss of Medicare coverage for one of our molecular tests, PancraGEN®. On June 5, 2023, the Company announcedthat Novitas issued the final LCD of Genetic Testing for Oncology (L39365) which, if finalized, would have established non-coverage for theCompany’s widely used PancraGEN®test effective July 17, 2023. On July 6, 2023, Novitas announced that it would not be implementing the final Genetic Testing for Oncology LCD (L39365) as scheduled on July 17, 2023. Novitas then issued a new virtually identical proposed LCDaffecting the same companies and tests and reaching the same conclusions as noted in the previously rescinded LCD on July 27, 2023. Inresponse, the Company participated in a public meeting presentation and submitted detailed written comments supporting the use of PancraGEN®. On July 29, 2024, the Company announced that the Center for Medicare and Medicaid Services (“CMS”) granted Novitas an undefined extension to the final decision for the LCD. As a result, the Company was able to continue offering PancraGEN®Point2®fluid chemistry tests for amylase, CEA, and glucose for all of 2024. and cost-savings plan to reduce operating costs and better align its workforce wi