Interpace Diagnostics Group, Inc. (NASDAQ: IDXG) announced the pricing of an underwritten public offering of 9,333,334 shares of its common stock at a public offering price of $0.75 per share, less underwriting discounts and commissions. Interpace also granted the underwriter a 30-day option to purchase up to an additional 1,400,000 shares of its common stock at the public offering price per share, less underwriting discounts and commissions. Interpace expects to receive aggregate gross proceeds of approximately $7 million from the offering, assuming no exercise of the underwriter’s option to purchase additional shares. The offering is expected to close on or about January 29, 2019, subject to customary closing conditions.

The Backstory: Interpace is a fully integrated commercial and bioinformatics company that provides clinically useful molecular diagnostic tests and pathology services for evaluating risk of cancer by leveraging the latest technology in personalized medicine for improved patient diagnosis and management. The Company currently has four commercialized molecular tests and one test in a clinical evaluation process (CEP); PancraGEN® for the diagnosis and prognosis of pancreatic cancer from pancreatic cysts; ThyGeNEXT™ for the diagnosis of thyroid cancer from thyroid nodules utilizing a next generation sequencing assay; ThyraMIR® for the diagnosis of thyroid cancer from thyroid nodules utilizing a proprietary gene expression assay; and RespriDX™ that differentiates lung cancer of primary vs. metastatic origin. BarreGEN® for Barrett’s Esophagus, is currently being “soft launched” with key opinion leaders as we continue to gather data on this assay that will assist us in seeking favorable reimbursement as well as important clinical information.