Very disappointing news today: cancer and kidney tests were rejected by Medicare
Go read it, fools bought the headline that Medicare was good with the $3500(already a given) and they moved the stock up, but the smarter money saw the last part of the PR which said they will keep trying to make the case for the legitimacy of the kidney and cancer tests, but for now were told NO by Medicare, those tests are still considered INVESTIGATIONAL only. Not a great day for ROSG, quite frankly.
Agreed. I think the CUP statement was just there to frost over the bad news. CUP is only 200k patients annually. Not all doctors are buying the tests and you have limited insurance coverage as only certain PPOs and medicare will reimburse. Thats why sales since last year have been lackluster and wont put a dent in their cash burn rate. The lung and kidney markets are huge with millions of patients annually, and that is what everyone has been waiting for to save ROSG. The fact that medicare now comes out and says they are still investigating their value rather than approving as anticipated is very bad news for ROSG. They needed a big pump so they can raise more cash without diluting a #$%$ load of shares, which they would need to do at these prices to even get another year of cash. They are running out of time and cash.
So there is no apparent value in knowing which renal tumor it is; if it was haphazardly irrelevant why do pathologists strive to differentiate between these tumors ? And why should ROSG bother making them ...Listen the rosg test panorama will make much less grey hear on every patologist in the US and around the world in the years to come.
one tiny thing you forgot .....NOW they will be SELLING IN AUGUST....here comes the revenue streams
Eventually the company will be bought out one day by bigger fish....for 100-200 mil.....by the way dime to a dollar they are approved by end of the year. THE DATA is simply being compiled to build stronger case
of effectiveness.....AGAIN PROVIDERS EAGER for these these and APPROVAL PROCESS will Accelerate.
its ALL ABOUT PREVENTION NOW due to H/C costs