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In Brief This Week: HTG Molecular Diagnostics, CareDx, Interpace Diagnostics, and More

NEW YORK (GenomeWeb) – HTG Molecular Diagnostics said this week that it received formal notice from the Nasdaq stock market on April 12 indicating that the Nasdaq Hearings Panel had granted the company's request to transfer the listing of its common stock from the Nasdaq Global Market to the Nasdaq Capital Market. The intra-market transfer was effective on April 17.

CareDx this week filed notice with the US Securities Exchange Commission that it was unable to file its Form 10-K annual report for 2016 by the April 17 extended deadline. While the firm said it intends to file the Form 10-K "as promptly as possible," it was unable to give a definitive filing date. Last month, CareDx reported preliminary revenues of between $10.6 million and $10.9 million for the fourth quarter.

Interpace Diagnostics said this week that it has converted all of its remaining long-term secured outstanding debt into common stock and no longer has any secured debt outstanding. In March, the firm had announced that its $9.3 million in outstanding secured debt arising from the acquisition of RedPath Integrated Pathology in 2014 was acquired for $8.9 million by an institutional investor. The deal involved a debt exchange for a $5.3 million secured convertible note and a $3.5 million secured note issued by Interpace. On April 18, the institutional investor exchanged the $3.5 million secured note for a $3.5 million secured convertible note. The firm noted that the investor has converted the notes into shares of its common stock.

Paradigm Diagnostics has launched the Paradigm registry to allow physicians to better collect, share, and visualize data to support personalized medicine in oncology. The registry, titled "A Prospective Registry Study to Evaluate the Efficacy of Precision Molecular Testing in the Treatment of Advanced Solid Tumors," builds on discoveries from a 2016 independent prospective study performed by the Indiana University School of Medicine in which 43 percent of patients had increased progression-free survival from Paradigm's multi-omics approach to guide therapy, compared to 5 percent of patients that did not receive the guided therapy.

Enzo Biochem said this week that its Enzo Clinical Labs subsidiary reached an agreement with the US's fourth largest health insurer to become an in-network provider serving all states with Enzo's advanced laboratory testing services. The firm noted that Enzo Clinical Labs began offering in-network services to the entity's 15 million insured participants on April 15. Although Enzo Biochem wouldn't confirm that the deal is with Cigna, several sources have reported that the health insurer is the fourth-largest in the country.

Alabama-based molecular diagnostic test developer BioGX announced this week that it has established European operations in the Netherlands. BioGX said that its EU operation will provide direct support to customers in Europe, the Middle East, and Africa through regional technical sales and field application resources.

Applied DNA Sciences this week announced an agreement to supply bulk DNA for a leading chemicals company serving the in vitro diagnostics market. The agreement is for five years with quarterly shipments and includes optional three-year renewals thereafter. The firm expects the agreement to generate annual revenues of approximately $500,000 beginning in FY 2018.

Roche this week designated Virginia-based Sentara Consolidated Laboratories as a Roche Molecular Center of Excellence. Sentara is one of 33 labs that have received this designation, Roche said.

Ambry Genetics this week launched a new study of autism through its AmbryShare data sharing program. The company asked that psychiatrists, psychologists and behavioral specialists to encourage their patients with autism, along with their family members, to sign up. Ambry aims to discover possible associations between genes and autism, in order to provide their patients with targeted treatments and therapies much earlier in life.

In Brief This Week is a selection of news items that may be of interest to our readers but had not previously appeared on the GenomeWeb site.