Humana Medicaid Adds ChemoFx Coverage for Gynecologic Cancers
MEDS has more than doubled off its 52-week low of $0.823 on light trading volume (0.1× avg).
Summary
Humana added Helomics' ChemoFx assay to its Medicaid Pharmacogenomics Testing policy for gynecologic cancers, covering CPT codes 81535 and 81536. This is the first payer coverage win for ChemoFx since DataMeds acquired Helomics in September. Coverage is not under all Humana plans, so the immediate revenue impact is limited, but it establishes a reimbursable pathway for the test. The company's Q2 10-Q showed a $26.1M loss and going concern doubt, so any new revenue stream is material.
At the time of this announcement, MEDS was trading at $3.15 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $9.4M. The 52-week trading range was $0.82 to $73.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.