Interpace Biosciences Reports Q2 2026 Financial Results with $9.1M Revenue

Interpace Biosciences, Inc. reported its financial results for the second quarter and first half of 2026, revealing a net revenue of $9.1 million for the three months ended June 30, 2026, a slight decrease of 1% from $9.2 million in the same period of 2025. For the six months ended June 30, 2026, revenue totaled $18.2 million, down 12% from $20.7 million in the prior year. The decline in revenue is primarily attributed to the loss of reimbursement for the PancraGEN® test, which ceased acceptance of specimens after May 2, 2025, following a decision by the Centers for Medicare and Medicaid Services (CMS).

The company's gross profit for the second quarter increased to approximately $5.7 million, compared to $5.3 million in the prior year, reflecting a decrease in the cost of revenue, which fell to $3.5 million from $4.0 million. This reduction in costs was driven by lower variable costs, including lab supplies. Operating income from continuing operations was reported at $0.3 million for the second quarter, a significant improvement from an operating loss of $0.5 million in the same quarter of 2025. The company also recorded a net income of $0.2 million for the second quarter, compared to a net loss of $0.6 million in the prior year.

Interpace's operational metrics indicate a focus on its molecular diagnostic tests for thyroid cancer, specifically ThyGeNEXT® and ThyraMIR®v2, as it navigates the challenges posed by the discontinuation of PancraGEN®. The company has also made strategic moves, including the conversion of all Series C Preferred Stock into common stock, resulting in 27,700,904 shares outstanding as of June 30, 2026. This conversion is part of the company's efforts to streamline its capital structure and enhance liquidity.

As of June 30, 2026, Interpace reported total current assets of $11.0 million and current liabilities of $5.0 million, resulting in a current ratio of 2.2. The company had cash and cash equivalents of $2.7 million, which it plans to utilize alongside targeted margin improvements and cost containment strategies to meet ongoing capital needs. Interpace is actively exploring various funding options, including equity and debt financing, to bolster its liquidity, especially following its delisting from Nasdaq in February 2021, which has impacted its ability to raise capital.

Looking ahead, Interpace is concentrating on developing a new molecular diagnostic test for assessing the risk of pancreatic cyst progression to cancer, distinct from the previously discontinued PancraGEN®. The company anticipates that this development will take approximately 12 to 24 months, contingent upon obtaining positive reimbursement determinations from CMS. The outlook remains cautious, as the company acknowledges the uncertainties associated with the development and commercialization of new tests, alongside the ongoing challenges in securing adequate funding and maintaining operational stability.