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Interpace Biosciences

Interpace shares were up 17 percent in early morning trading on the Nasdaq, as it reported a profitable quarter compared to a loss in the prior-year quarter.

The test, intended as an aid for diagnosing thyroid cancer where cytopathology is inconclusive, is now covered for around 250 million patients nationwide.

The firm had been notified in November that it failed to meet a listing requirement calling for at least $2.5 million in stockholder equity and faced delisting action. 

The company said that given recent debt restructuring efforts and certain regulatory and payor approvals of its products, it's on track for a strong 2017.

As part of the deal with an institutional investor, Interpace's royalty and milestone obligations will also be terminated. 

The collaboration will leverage the firms' technologies to identify patients most likely to develop pancreatic cancer and to detect the cancer in the earliest stage. 

The company intends to use the proceeds for working capital, to repay debt, and for general corporate purposes.

The company said it will use the proceeds for working capital, to repay debt and other liabilities, and for general corporate purposes.

The firm will sell 855,000 shares of its common stock to three investors. It will also sell warrants to the same investors.

The deal covers Interpace's ThyGenX and ThyraMir tests for thyroid cancer, as well as its PancraGen pancreatic cancer test.

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