IRVINE, Calif., May 10, 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, noted that within the past two weeks the following managed care companies have revised their medical policies for genetic testing of fetal tissue as medically necessary for the evaluation of pregnancy loss in patients in specific cases. The revised medical policies state: “Genetic testing may be indicated (if desired by parents): In cases of pregnancy loss at 20 weeks of gestation or earlier when there is a maternal history of recurrent miscarriage (defined as a history of 2 or more failed pregnancies); or in all cases of pregnancy loss after 20 weeks of gestation.”
As of May 1, 2016, the following plans have also revised their policies:
- Blue Shield of California
- Blue Cross Blue Shield of Florida
- Horizon Blue Cross Blue Shield of New Jersey
- BlueShield of Northeastern New York
- Blue Cross Blue Shield of Massachusetts
- Blue Cross Blue Shield of Kansas City
The revised medical policy guidelines for these health plans to reimburse for diagnostic testing for miscarriage or intrauterine fetal demise (IUFD) where genetic analysis of the embryo, fetus or stillborn infant is indicated are based on guidelines from several reproductive health organizations, including the American Society for Reproductive Medicine (ASRM, 2013; ASRM, 2012), the National Society of Genetic Counselors (Laurino, 2005) and the American College of Obstetrics and Gynecology (ACOG, 2009).
“We believe that the continuing stream of health plans reversing their medical policy decisions in favor of reimbursing for recurrent pregnancy loss testing is a positive step for women and their families in the decision-making process about pregnancy. It is also a positive change for CombiMatrix, as miscarriage analysis testing is the fastest growing segment of our business,” said Mark McDonough, President and Chief Executive Officer of CombiMatrix.
“California is our second largest market, so we are very pleased to see that a policy there has been revised, as well as policies for health plans in five additional states,” added Mr. McDonough. “We now know that 13 health plans just this year have reversed their prior decisions in favor of reimbursement for recurrent pregnancy loss testing. In addition to revised guidelines by several leading reproductive health organizations, we attribute this trend to the growing body of clinical evidence in support of miscarriage analysis testing.”
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 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," "continue," "ongoing," similar expressions, and variations or negatives of these words. 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: adoption and market acceptance of our IUFD microarray test offering, our ability to 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 both prenatal and developmental 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:|
|President & CEO, CombiMatrix Corporation||Jody Cain|
|(949) 753-0624||(310) 691-7100|