CNSide Q3 Gross Billings Hit $1.55M; CMS Pricing Decision Favorable
CNSY is trading near its 52-week low of $1.86 (7.5% above the low) on elevated volume (2.4× avg).
Summary
Cerenome's CNSide Diagnostics reported $1.55 million in unaudited Q3 gross billings from 222 tests, with initial cash collections expected in Q4. The company now has 158 million contracted covered lives and received a favorable preliminary CMS pricing decision for its TCE Test, targeting a January 1, 2027 effective date. Management projects an annualized gross billing run rate of $10-12 million by Q4 2026 and plans to launch the CSF Molecular Profile Test and breast cancer assays this quarter. This follows the $20 million financing facility announced September 10 and the Blue Cross Blue Shield of Michigan in-network agreement on September 22. The update provides the first concrete billing figures and Medicare pricing progress, which are key milestones for a company with only $8.6 million in cash and a going concern warning.
At the time of this announcement, CNSY was trading at $2.00 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $14.1M. The 52-week trading range was $1.86 to $23.43. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.