Response Genetics, Inc. Announces Contracts With Six New Provider Networks
April 03 2014 - 7:00AM
Response Genetics, Inc. (Nasdaq:RGDX), a company focused on the
development and sale of molecular diagnostic tests that help
determine a patient's response to cancer therapy, today announced
that it has signed agreements with six additional health plans
across 10 states bringing the Company's total national contracted
membership to more than 174 million lives.
The new agreements include additional Blue Cross Blue Shield
contracts in Arizona, Iowa, South Dakota, Pennsylvania, Delaware,
and West Virginia. The Company also signed new agreements with
an Independent Physician Association (covering two states) in the
North West region and a Commercial Health Plan (covering two
states) in the North East region of the United States.
These partnerships mark a further step forward in Response
Genetics' growing managed care contracting program. With these
agreements, Response Genetics is now in-network with a total of
thirteen Blue Cross Blue Shield health plans, which brings the
total number of "Blues" subscribers with direct access to Response
Genetics to approximately 23 million. Among Response Genetics'
other Blue Cross Blue Shield contracts are Blue Cross and Blue
Shield of Illinois, Blue Shield of California and CareFirst
BlueCross BlueShield (Maryland, Washington, DC and Northern
Virginia).
In addition to its recently launched proprietary ResponseDX:
Tissue of Origin™ diagnostic test, Response Genetics' molecular
testing primarily focuses on therapy-selection for patients with
lung, colon, gastric, melanoma, and thyroid cancers. Response
Genetics' menu of genomic assays provides treating physicians
actionable information on a patient's tumor by predicting which
course of therapy will work best for that patient. In this way,
Response Genetics' participation with these Blues plans should
improve plan members' access to individually-tailored medicine.
About Response Genetics, Inc.
Response Genetics, Inc. (the "Company") is a CLIA-certified
clinical laboratory focused on the development and sale of
molecular diagnostic testing services for cancer. The
Company's technologies enable extraction and analysis of genetic
information derived from tumor cells stored as formalin-fixed and
paraffin-embedded specimens. The Company's principal customers
include oncologists and pathologists. In addition to
diagnostic testing services, the Company generates revenue from the
sale of its proprietary analytical pharmacogenomic testing services
of clinical trial specimens to the pharmaceutical
industry. The Company's headquarters is located in Los
Angeles, California. For more information, please visit
www.responsegenetics.com.
Forward-Looking Statement Notice
Except for the historical information contained herein, this
press release and the statements of representatives of the Company
related thereto contain or may contain, among other things, certain
forward-looking statements, within the meaning of the Private
Securities Litigation Reform Act of 1995.
Such forward-looking statements involve significant risks and
uncertainties. Such statements may include, without
limitation, statements with respect to the Company's plans,
objectives, projections, expectations and intentions, such as the
ability of the Company, to provide clinical testing services to the
medical community, to continue to strengthen and expand its sales
force, to continue to build its digital pathology initiative, to
attract and retain qualified management, to continue to strengthen
marketing capabilities, to expand the suite of ResponseDX®
products, to continue to provide clinical trial support to
pharmaceutical clients, to enter into new collaborations with
pharmaceutical clients, to enter into areas of companion
diagnostics, to continue to execute on its business strategy and
operations, to continue to analyze cancer samples and the potential
for using the results of this research to develop diagnostic tests
for cancer, the usefulness of genetic information to tailor
treatment to patients, and other statements identified by words
such as "project," "may," "could," "would," "should," "believe,"
"expect," "anticipate," "estimate," "intend," "plan" or similar
expressions.
These statements are based upon the current beliefs and
expectations of the Company's management and are subject to
significant risks and uncertainties, including those detailed in
the Company's filings with the Securities and Exchange
Commission. Actual results, including, without limitation,
actual sales results, if any, or the application of funds, may
differ from those set forth in the forward-looking
statements. These forward-looking statements involve certain
risks and uncertainties that are subject to change based on various
factors (many of which are beyond the Company's control). The
Company undertakes no obligation to publicly update forward-looking
statements, whether because of new information, future events or
otherwise, except as required by law.
CONTACT: Investor Relations Contact:
Peter Rahmer
Trout Group
646-378-2973
Company Contact:
Thomas A. Bologna
Chairman & Chief Executive Officer
323-224-3900
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