×

CombiMatrix Notes Two Additional Blue Cross Blue Shield Health Plans Revise Medical Policies to Reimburse for Recurrent Pregnancy Loss Testing

IRVINE, Calif., April 26, 2016 (GLOBE NEWSWIRE) -- CombiMatrix Corporation (NASDAQ:CBMX), a molecular diagnostics company specializing in DNA-based testing services for pre-implantation genetic diagnostics and screening, miscarriage analysis, prenatal and pediatric diagnostics, notes that Blue Cross Blue Shield of Arkansas and Blue Cross Blue Shield of Tennessee have revised their medical policies to include reimbursement for chromosomal microarray analysis of fetal tissue for the evaluation of recurrent pregnancy loss. These health plans now cover cases of pregnancy loss at 20 weeks of gestation or earlier; or when there is a maternal history of recurrent miscarriage (defined as a history of two or more failed pregnancies).

“We are beginning to see a trend with at least seven health providers this year revising their medical policies to now reimburse for microarray testing for recurrent pregnancy loss, after only one reversal in all of 2015,” stated Mark McDonough, President and Chief Executive Officer of CombiMatrix. “We expect more health plans to revise their policies going forward and that these decisions will have a positive impact on our miscarriage analysis testing, which is the fastest growing and best reimbursed component of our business. Revisions of plans in the Blue Cross Blue Shield network, which in aggregate comprise a large component of our third-party billing, are particularly noteworthy for CombiMatrix. Importantly, miscarriage analysis testing can provide valuable information to women and their families in planning and decision-making.”

About CombiMatrix Corporation

CombiMatrix Corporation provides valuable molecular diagnostic solutions and comprehensive clinical support to foster the highest quality in patient care. CombiMatrix specializes in pre-implantation genetic diagnostics and screening, miscarriage analysis, prenatal and pediatric diagnostics, offering DNA-based testing for the detection of genetic abnormalities beyond what can be identified through traditional methodologies. CombiMatrix performs genetic testing utilizing a variety of advanced cytogenomic techniques, including chromosomal microarray, standardized and customized fluorescence in situ hybridization (FISH) and high-resolution karyotyping. CombiMatrix is dedicated to providing high-level clinical support for healthcare professionals in order to help them incorporate the results of complex genetic testing into patient-centered medical decision making. Additional information about CombiMatrix is available at www.combimatrix.com or by calling (800) 710-0624.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations, speak only as of the date hereof and are subject to change. All statements, other than statements of historical fact included in this press release, are forward-looking statements. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "goal," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," “possible,” “aimed,” "continue," "ongoing," similar expressions, and variations or negatives of these words and include, but are not limited to, projected results of operations and management's future business, operational and strategic plans, recruiting efforts and test menu expansion. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement. The risks and uncertainties referred to above include, but are not limited to: whether additional health plans will make similar policy changes to the tests they reimburse; whether such reversals will have a material impact on our revenues or results from operations, market acceptance of our CombiPGD test; our ability to successfully expand the base of our customers and strategic partners, add to the menu of our diagnostic tests, develop and introduce new tests and related reports, expand and improve our current suite of services, optimize the reimbursements received for our microarray testing services, and increase operating margins by improving overall productivity and expanding sales volumes; our ability to successfully accelerate sales, steadily increase the size of our customer rosters in IVF, miscarriage analysis, prenatal and pediatric genetic testing markets; our ability to attract and retain a qualified sales force in wider geographies; our ability to ramp production from our sales force and our strategic partners; rapid technological change in our markets; changes in demand for our future services; legislative, regulatory and competitive developments; the outcome of pending litigation; general economic conditions; and various other factors. Further information on potential factors that could affect our financial results is included in our Annual Report on Form 10-K, Quarterly Reports of Form 10-Q, and in other filings with the Securities and Exchange Commission. We undertake no obligation to revise or update publicly any forward-looking statements for any reason, except as required by law.

Company Contact:Investor Relations Contact:
Mark McDonoughLHA
President & CEO, CombiMatrix Corporation Jody Cain
(949) 753-0624 (310) 691-7100
jcain@lhai.com

Source:CombiMatrix Corporation