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Traders Flock Interpace Diagnostics Group (IDXG) After Support From UnitedHealthcare

Interpace Diagnostics Group Inc. (NASDAQ:IDXG) on April 18 skyrocketed by 75.81% in intraday trading to $3.79, after it shook hands with UnitedHealthcare who agreed to cover Interpace’s ThyraMIR® test.

The test is used to reduce the rate of unnecessary surgeries in indeterminant cases following thyroid nodule biopsy. Interpace Diagnostics Group Inc. (NASDAQ:IDXG) said the coverage is now in effect and is subject to members’ specific benefit plan design.

In a press release, the company said:

ThyGenX – ThyraMIR represents the only test in the market that combines the rule-in properties of next-generation sequencing of a patient’s DNA and RNA, with rule-out capabilities of a micro-RNA classifier to provide physicians with clinically actionable test results. Based on current performance, over 80% of the Company’s total cases are reflexed to ThyraMIR for additional assessment. The Company first launched ThyraMIR on April 15, 2015 making it available to Endocrinologists and Pathologists throughout the country. Since then, the Company has conducted over 5,000 ThyraMir tests for nearly 400 physicians and hospitals.

The volume reached nearly 24 million trades, which is above its average of 1 million.

The mission of Interpace Diagnostics Group Inc. (NASDAQ:IDXG) is to improve patient care through personalized medicine and molecular diagnostic tests supported by rigorous science. It is focused on developing and commercializing molecular diagnostic tests for better patient diagnosis and management.

Billion Photos/Shutterstock.com

Billion Photos/Shutterstock.com

 

What Does The Smart Money Sentiment Say?

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None of the funds we track currently hold shares of Interpace Diagnostics Group Inc. (NASDAQ:IDXG).

The Bottom Line

Traders are flocking Interpace Diagnostics Group Inc. (NASDAQ:IDXG) after UnitedHealthcare agreed to cover Interpace’s ThyraMIR® test. For further reading, here are 11 highest paying healthcare jobs that are in demand in Canada.

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