Monitor Nasdaq listing approval and final pricing; track thyroid test volume growth and reimbursement trends; watch for progress on new pancreatic and Barrett's Esophagus tests.
Executive Summary
Interpace Biosciences filed Amendment No. 2 to its S-1 for a firm-commitment IPO of 3,100,000 shares at an estimated $6.00-$7.00 per share, with a concurrent application to uplist to Nasdaq. The company is a molecular diagnostics provider focused on thyroid cancer tests (ThyGeNEXT and ThyraMIRv2) after discontinuing its pancreatic test (PancraGEN) in May 2025 due to loss of CMS reimbursement. Net proceeds of ~$17.9M ($20.8M with over-allotment) will fund working capital, R&D for new pancreatic and Barrett's Esophagus tests, and potential acquisitions.
Key Financial Metrics
Key Facts
- Offering 3,100,000 shares at estimated $6.00-$7.00 per share, with 465,000-share over-allotment option.
- Proceeds estimated at $17.9M ($20.8M with over-allotment) for working capital, R&D, and potential acquisitions.
- Company has applied to list on Nasdaq (symbol IDXG); closing contingent on Nasdaq conditional approval.
- ThyGeNEXT + ThyraMIRv2 revenue grew at 19.7% CAGR from 2022 to 2025, reaching $34.8M in 2025.
- Two private equity funds (Ampersand and 1315 Capital) control ~79% of shares pre-offering.
- Reverse stock split (1-for-5) effected August 27, 2026 to meet Nasdaq minimum bid price requirement.
- PancraGEN test discontinued May 2025 after CMS reimbursement loss; new pancreatic test in development (12-24 months).
- Net income was $24.6M in 2025 (as reported), $879K in H1 2026 (as reported).
Financial Impact
IPO proceeds of ~$17.9M ($20.8M with over-allotment) at midpoint $6.50/share; thyroid diagnostics revenue $34.8M in 2025 with 19.7% CAGR.
Risk Factors
- Nasdaq listing approval not guaranteed; failure would terminate the offering.
- Concentration of control by two private equity funds (~79% pre-offering) could influence decisions.
- Dependence on two thyroid tests after PancraGEN discontinuation; new pancreatic test development uncertain.
- Limited public trading history on OTCID; liquidity may remain low post-offering.
- Dilution of ~52% for existing holders from this offering (3.1M new shares vs 5.9M outstanding).
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| S-1/A Filing (Primary) | 0001493152-26-049456 |
| Exhibit: ex1-1.htm | 0001493152-26-049456 |
| Exhibit: ex107.htm | 0001493152-26-049456 |
| Exhibit: ex23-1.htm | 0001493152-26-049456 |
| Document: 0001493152-26-049456-index-headers.html | 0001493152-26-049456 |
| Document: 0001493152-26-049456-index.html | 0001493152-26-049456 |
| Document: 0001493152-26-049456.txt | 0001493152-26-049456 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 30, 2026 1d ago | S-1/A | $5.35 | awaiting T+5 | awaiting T+5 | $5.59 (+4.54%) |
Oct 15, 2026 17d ago | 8-K | $5.27 $5.40 | ▲ +2.47% | ▲ +3.48% | $5.59 (+6.13%) |
Sep 30, 2026 4w ago | S-1/A | $6.39 $6.00 | ▼ −6.10% | ▼ −7.40% | $5.59 (−12.47%) |
Apr 1, 2026 30w ago | 8-K | $1.96 $2.30 | ▲ +17.47% | ▲ +13.85% | $5.59 (+185.65%) |
US Market Status
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