Why Response Genetics (RGDX) Stock Is Soaring Today

NEW YORK (TheStreet) -- Response Genetics  (RGDX) surged 25% to $1.50 at 10:26 a.m. on Thursday after the molecular diagnostic test developer announced contracts with six new provider networks, which increases its total membership to more than 174 million U.S. members.

The contracts span 10 states and include Blue Cross Blue Shield contracts in Arizona, Delaware, Iowa, Pennsylvania, South Dakota and West Virginia; an Independent Physician Association that covers two states in the North West region; and a Commercial Health Plan that covers two states in the North East region.

Thanks to the deals, Response Genetics is now in-network with thirteen Blue Cross Blue Shield health plans, which increases the number of Blue Cross Blue Shield subscribers with direct access to Response Genetics to approximately 23 million.

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