Interpace Diagnostics Group Inc (NASDAQ:IDXG) is having an incredible start to the trading session this morning, and for good reason. The company announced great news on the financing side of the coin, leading to investor excitement and causing the stock to head upward. As is nearly always the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:33), IDXG is trading at $2.86 per share after a gain of $0.33 per share (13.04%) thus far today.
IDXG Announces Positive Financing News
As mentioned above, Interpace Diagnostics Group is having an incredibly strong start to the trading session this morning after announcing financing news. The company announced that it has converted all remaining long-term secured outstanding debt into common stock. As a result, it no longer has any secured debt outstanding. In a statement, Jack Stover, President and CEO at IDXG, had the following to offer:
“We are pleased to announce that we have achieved this significant milestone in our debt restructuring plan and are now debt free with respect to any secured loans. We would like to thank our investors for their continuing support and confidence. We believe that this is a new day for Interpace and we look forward to executing on our strategic plans.”
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What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on IDXG. In particular, we're interested in ongoing work with regard to the company's impressive pipeline as well as any further news surrounding restructuring. We'll continue to follow the story closely and bring the news to you as it breaks!
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