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LAS VEGAS, Oct. 19, 2016 /PRNewswire/ -- Interpace Diagnostics Group (NASDAQ: IDXG), a company that provides specialized molecular diagnostic tests and pathology services, reported today, from the American College of Gastroenterology (ACG) Annual Meeting in Las Vegas, NV, the publication of a study supporting the company's newly launched PanDNA® product. The study, led and presented by Dr. James Farrell, Director of the Yale Center for Pancreatic Diseases, describes when and how PanDNA can help assess long term risk of pancreatic cancer in patients with pancreatic cystic lesions. The presentation took place during the Pancreatico-Biliary / Endoscopy Plenary Session. Over 5,000 Gastroenterologists attend the ACG Annual Meeting and participate in various courses related to a wide variety of gastrointestinal disease, including Pancreatic Cancer.
PanDNA examines the accumulation of three key molecular abnormalities that have been associated with cancer in pancreatic cysts: elevated DNA quantity; Oncogene mutations; and Tumor Suppressor Gene Mutations. Dr. Farrell and his coauthors extend these past findings to show how such molecular information can be used to help physicians assess a patient's long term risk of cancer. Depending on the individual characteristics of a patient's cyst, the study reports that accumulation of these key molecular abnormalities can be an indication that a patient is at high risk of cancer. Importantly, the study also shows that the absence of all molecular abnormalities can be an indication that a patient is at low, long term risk of cancer. Long term risk of cancer was evaluated in patients followed for up to 8 years after molecular testing.
Over 170,000 patients in the US annually are identified with pancreatic cysts via imaging studies and referred by Radiologists to a Gastroenterologist for further risk assessment resulting in critical decisions for observation of patients or decisions to surgically remove the lesion. PanDNA can provide physicians making those decisions with additional information about a patient's long term potential for developing cancer. The key molecular components of PanDNA have been evaluated in over 27,000 patients. This data will provide further support of the Company's ongoing launch of the PanDNA product to those clinicians that find value in the specific molecular data provided for each patient.
"We're excited to see strong, long term follow-up evidence supporting the ability of PanDNA to provide clinicians with additional information to better assess a patient's risk of cancer presented by a thought leader of Dr. Farrell's caliber" said Jack Stover, President and CEO of Interpace. "Having this data presented at a prestigious conference like the ACG demonstrates Interpace's continued commitment and contribution to improving patient care."
PanDNA® is a pancreatic cyst molecular test that, by using a small sample of pancreatic cyst fluid, can aid in pancreatic cancer risk assessment. Pancreatic cancer is often difficult to diagnose in early stages and typically spreads rapidly with signs and symptoms appearing when the cancer is significantly advanced. Because of this, and that complete surgical removal of the pancreas is not possible, pancreatic cancer is considered a leading cause of cancer deaths.
PancraGEN® is a pancreatic cyst molecular test that, by using a small sample of pancreatic cyst fluid, can aid in pancreatic cancer risk assessment. PancraGEN® is 90% accurate, according to clinical studies, enabling effective risk stratification of patients. Pancreatic cancer is often difficult to diagnose in early stages and typically spreads rapidly with signs and symptoms appearing when the cancer is significantly advanced. Because of this, and that complete surgical removal of the pancreas is not possible, pancreatic cancer is considered a leading cause of cancer deaths.
About Interpace Diagnostics Group, Inc.
Interpace Diagnostics provides clinically useful molecular diagnostic tests and pathology services for evaluating risk of cancer by leveraging the latest technology in personalized medicine for better patient diagnosis and management. The Company currently has three commercialized molecular tests: PancraGen® for the evaluation of pancreatic cysts and assessment of risk of concomitant or subsequent cancer; ThyGenX®, for the diagnosis of thyroid cancer from thyroid nodules utilizing a next generation sequencing assay; and ThyraMIR®, for the diagnosis of thyroid cancer from thyroid nodules utilizing a proprietary gene expression assay. Interpace Diagnostics mission is to provide personalized medicine through molecular diagnostics and innovation to advance patient care based on rigorous science.
Forward Looking StatementsThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, relating to our future financial and operating performance. The company has attempted to identify forward looking statements by terminology including "believes," "estimates," "anticipates," "expects," "plans," "projects," "intends," "potential," "may," "could," "might," "will," "should," "approximately" or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are based on current expectations, assumptions and uncertainties involving judgments about, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond company's control. These statements also involve known and unknown risks, uncertainties and other factors that may cause company's actual results to be materially different from those expressed or implied by any forward-looking statement. Known and unknown risks, uncertainties and other factors include, but are not limited to, our ability to adequately finance the business, our ability to restructure our debt and other obligations, the market's acceptance of our molecular diagnostic tests, our ability to secure additional business and generate higher profit margins through sales of our molecular diagnostic tests, in-licensing or other means, projections of future revenues, growth, gross profit and anticipated internal rate of return on investments. Additionally, all forward-looking statements are subject to the risk factors detailed from time to time in the company's periodic filings with the Securities and Exchange Commission (SEC), including without limitation, the Annual Report on Form 10-K filed with the SEC on March 30, 2016, as amended on April 29, 2016 and June 14, 2016. Because of these and other risks, uncertainties and assumptions, undue reliance should not be placed on these forward-looking statements. In addition, these statements speak only as of the date of this press release and, except as may be required by law, the Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
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