LOS ANGELES, April 3, 2014 (GLOBE NEWSWIRE) -- Response Genetics, Inc. (Nasdaq:RGDX), a company focused on the development and sale of molecular diagnostic tests that help determine a patient's response to cancer therapy, today announced that it has signed agreements with six additional health plans across 10 states bringing the Company's total national contracted membership to more than 174 million lives.
The new agreements include additional Blue Cross Blue Shield contracts in Arizona, Iowa, South Dakota, Pennsylvania, Delaware, and West Virginia. The Company also signed new agreements with an Independent Physician Association (covering two states) in the North West region and a Commercial Health Plan (covering two states) in the North East region of the United States.
These partnerships mark a further step forward in Response Genetics' growing managed care contracting program. With these agreements, Response Genetics is now in-network with a total of thirteen Blue Cross Blue Shield health plans, which brings the total number of "Blues" subscribers with direct access to Response Genetics to approximately 23 million. Among Response Genetics' other Blue Cross Blue Shield contracts are Blue Cross and Blue Shield of Illinois, Blue Shield of California and CareFirst BlueCross BlueShield (Maryland, Washington, DC and Northern Virginia).
In addition to its recently launched proprietary ResponseDX: Tissue of Origin™ diagnostic test, Response Genetics' molecular testing primarily focuses on therapy-selection for patients with lung, colon, gastric, melanoma, and thyroid cancers. Response Genetics' menu of genomic assays provides treating physicians actionable information on a patient's tumor by predicting which course of therapy will work best for that patient. In this way, Response Genetics' participation with these Blues plans should improve plan members' access to individually-tailored medicine.
About Response Genetics, Inc.
Response Genetics, Inc. (the "Company") is a CLIA-certified clinical laboratory focused on the development and sale of molecular diagnostic testing services for cancer. The Company's technologies enable extraction and analysis of genetic information derived from tumor cells stored as formalin-fixed and paraffin-embedded specimens. The Company's principal customers include oncologists and pathologists. In addition to diagnostic testing services, the Company generates revenue from the sale of its proprietary analytical pharmacogenomic testing services of clinical trial specimens to the pharmaceutical industry. The Company's headquarters is located in Los Angeles, California. For more information, please visit www.responsegenetics.com.
Forward-Looking Statement Notice
Except for the historical information contained herein, this press release and the statements of representatives of the Company related thereto contain or may contain, among other things, certain forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company's plans, objectives, projections, expectations and intentions, such as the ability of the Company, to provide clinical testing services to the medical community, to continue to strengthen and expand its sales force, to continue to build its digital pathology initiative, to attract and retain qualified management, to continue to strengthen marketing capabilities, to expand the suite of ResponseDX® products, to continue to provide clinical trial support to pharmaceutical clients, to enter into new collaborations with pharmaceutical clients, to enter into areas of companion diagnostics, to continue to execute on its business strategy and operations, to continue to analyze cancer samples and the potential for using the results of this research to develop diagnostic tests for cancer, the usefulness of genetic information to tailor treatment to patients, and other statements identified by words such as "project," "may," "could," "would," "should," "believe," "expect," "anticipate," "estimate," "intend," "plan" or similar expressions.
These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties, including those detailed in the Company's filings with the Securities and Exchange Commission. Actual results, including, without limitation, actual sales results, if any, or the application of funds, may differ from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). The Company undertakes no obligation to publicly update forward-looking statements, whether because of new information, future events or otherwise, except as required by law.
Investor Relations Contact: Peter Rahmer Trout Group 646-378-2973 Company Contact: Thomas A. Bologna Chairman & Chief Executive Officer 323-224-3900
