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Tuesday, May 17, 2022

Why Interpace Biosciences [NASDAQ: IDXG] Skyrocketing Today?

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Interpace Biosciences, Inc. [NASDAQ: IDXG] disclosed Wednesday that the Audit Committee of the Board of Directors has reported the results of an independent investigation regarding complaints of certain employment and billing and compliance.

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The Audit Committee has concluded that the accusation made in the complaints is unproven. They announced that they have found no evidence of any illegal acts.

Shares of Interpace Biosciences traded up 37.58% as it gained +1.12 during the trading session of Wednesday. It has a closing price of $4.10. IDXG has a 52-weeks low range of $2.57 and a 52-weeks high range of $11.00.

It has moved up 59.40% from its 52-weeks low and moved down -62.73% from its 52-weeks. IDXG had a trading volume of 11.36 million as compared to the average volume of 307.06K.

Looking at its liquidity, it has a current ratio of 1.80. This company market capitalization has remained high, hitting $11.95 million at the time of writing.

As for the quarter ending June 30, 2020, the company announced its failure to file its Form 10-Q in a timely manner, & the company’s notification of late filing on Form 12B-25.

Interpace Biosciences has received letters from employees, regarding employment, billing, and compliance issues. In response to this IDXG has alerted its audit committee and Regulatory Compliance Committee as well as its independent registered public accounting firm.

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