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November 10 , 2021 Interpace Biosciences® Interpace Biosciences Announces Third Quarter 2021 Financial and Business Results • Q3 Revenue of $ 9.5 Million is a 15 % Improvement versus Q3 2020 • Year to Date Revenue of $ 30.5 Million Up 34 % Versus Prior Year • Second Consecutive Record Cash Collection Quarter • Significantly Improved Liquidity with Comerica Bank $ 7.5 Credit Facility • Entered into $ 8 million term loan with BroadOak Fund , V , L.P. • Announcing New Proposed $ 30 Million Rights Offering PARSIPPANY , NJ , Nov. 10 , 2021 ( GLOBE NEWSWIRE ) -- Interpace Biosciences , Inc. ( “ Interpace ” or the “ Company ” ) ( OTCQX : IDXG ) today announced financial results for the fiscal quarter ended September 30 , 2021 and provided a business and financial update . " 2021 has been a dynamic and meaningful year in the evolution of Interpace , ” said Thomas Burnell , President and CEO . " Without the hard work , dedication and commitment of our nearly 140 employees , the loyalty of our customers and the patients they serve , and the support of our investors and financial partners , our Company would not be where it is today . " " We are incredibly excited to partner with Comerica Bank and Broad Oak Capital during this transformative period for Interpace Biosciences . The $ 7.5 million credit facility with Comerica provides the Company with working capital flexibility for our fourth quarter and onward into Fiscal 2022. The term loan with Broad Oak allowed us to repay the bridge loan generously provided by our private equity partners , Ampersand Capital and 1315 Capital , to meet our financing needs earlier this year , ” continued Mr. Burnell . " In addition , I am pleased to announce that the Company has executed a non - binding Term Sheet with 3K Limited Partnership to enter into a standby purchase agreement whereby 3K will backstop an approximate $ 30 million Rights Offering by the Company . We believe this Rights Offering will be a cost - effective method to raise capital while allowing existing shareholders to maintain their proportional ownership in the Company and will be the catalyst driving both internal and external growth as it is our goal to achieve an annualized run rate of $ 100 million in revenue in 2023 , " stated Mr. Burnell . " We are extremely pleased with the performance of our diagnostic services through the third quarter of 2021. Overall , we experienced significant revenue and gross profit growth while reducing operating expenses as a percentage of revenue , ” stated Tom Freeburg , CFO of Interpace . " We focused on and significantly improved our billing and cash collection processes over the last twelve months . This focus resulted in record cash collections for the second consecutive quarter and allowed us to repay our 2020 COVID Medicare advance months ahead of schedule . While our pharma services volume experienced a decline , we