The San Diego-based molecular diagnostic company announced on Thursday that it would give the health provider network access to its circulating tumor DNA Precision Cancer Monitoring tests and services.
Trovagene will be the America's Choice Provider Network's preferred provider and will be covered by more than 1,700 payers in North America, the company said in a statement on Thursday.
"Our commercial plan is on track to provide national sales coverage, and ACPN is the first of several additional contracts expected this year," Matt Posard, Trovagene's chief commercial officer, said in a statement. "In support of our commercialization program, we are creating a strong foundation of data from our clinical studies and manuscript publications demonstrating the medically actionable use of Trovagene's liquid biopsy platform in the treatment of cancer."
So far today, 4.72 million shares of Trovagene have traded, versus its 30-day average of about 383,000 shares.
Separately, recently, TheStreet Ratings rated this stock as a "sell" with a ratings score of D-. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: TROVTROV data by YCharts