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A bi-weekly listing of recent local coverage determinations from Medicare Administrative Contractors.
The LCD will provide coverage for the Decipher Prostate Biopsy genomic test for men with both favorable and unfavorable intermediate-risk prostate cancer.
The firm attributed the decline to reluctance of US customers to buy additional units of its Epi proColon colon cancer test amid reimbursement uncertainty.
The test will now be considered medically reasonable and necessary for patients over 45 with moderately elevated levels of prostate-specific antigen.
The liquid biopsy firm reported revenues of $60.8 million for the quarter, easily surpassing the consensus Wall Street estimate of $45.4 million.
Opko logged $181.1 million in revenues from services, $26.2 million in revenue from products, and $21.5 million from licensing and intellectual property.
The firm is looking to expand its sales internationally, as well as in the consumer-initiated market, but is being conservative with revenue growth estimates.
Medicare contractor Novitas has been considering a limited local coverage determination for the test, which calculates PSA values and determines whether a patient may need a prostate biopsy.
Of the 29 companies in the index, 18 companies' share prices declined while the share values of 11 increased month over month.
Recent local coverage determinations from Medicare Administrative Contractors, posted Nov. 1, 2019.