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May 11 , 2021 Interpace Biosciences® Interpace Biosciences Announces First Quarter 2021 Financial and Business Results • Q1 Revenue of $ 9.8 Million is Company's Highest as Combined Molecular Diagnostics and Pharma Services Business • Q2 Revenue Expected to Exceed $ 11 million • On Track to Exceed Full Year 2021 Revenue Growth of 35 % ● Moving Up Target For EBITDA Breakeven from Q4 2021 to Q3 2021 PARSIPPANY , NJ , May 11 , 2021 ( GLOBE NEWSWIRE ) -- Interpace Biosciences , Inc. ( " Interpace " or the " Company " ) ( OTCQX : IDXG ) today announced financial results for the fiscal quarter ended March 31 , 2021 and provided a business and financial update . " We are very pleased with our first quarter operating results which are on track and in accordance with our growth , restructuring and reprioritization plan , " said President and CEO Thomas Burnell . " As we progress further into 2021 , we expect to build on this momentum and will be focused on opportunities related to expanded private payor coverage , market penetration and the pricing of clinical testing . We continue to implement new clinical automation technology , have begun the process of renovating and modernizing our Pittsburgh clinical services laboratory , and in pharma services , we are exploring new clinical development capabilities with the Company's state - of - the - art lab in Morrisville , North Carolina . We believe these initiatives will help us drive growth and enhance shareholder value , " added Mr. Burnell . " Our strong first quarter results were driven primarily by the positive impact of higher clinical service volume and improved reimbursement rates , " stated Tom Freeburg , CFO of Interpace . " We are very excited by the prospect of higher reimbursement rates across non- Medicare payor categories given positive clinical data and our recent improvements in Medicare reimbursement . With the completion of the transition of pharma services to our state of the art laboratory in North Carolina , we are now uniquely positioned to take advantage of new clinical development capabilities which we believe will further diversify and enhance our overall business . " " We are providing second quarter Fiscal 2021 revenue guidance north of $ 11 million , " added Mr. Freeburg . First Quarter 2021 Financial Performance as Compared to First Quarter 2020 • Net Revenue was $ 9.8 million , an increase of 9 % versus the prior year . Gross Profit percentage was 46 % , compared to 33 % for the prior year , a nearly 40 % improvement year over year .