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TrovaGene Inks Strategic Partnership with Stratose, Stock Up

Shares of molecular diagnostic company TrovaGene Inc. TROV climbed 1.8% (9 cents) to close at $5.10 on Apr 11, following the announcement of a new strategic agreement with Stratose Inc.

Under the terms of the deal, TrovaGene’s Precision Cancer Monitoring (PCM) tests and services will be available to health plan members who use Stratose’s directly managed PPO networks. We believe this agreement will help TrovaGene gain better market traction, given that Stratose’s network is utilized by over 8.6 million members.

We believe that the recent agreements with Fortified Provider Network, Multiplan, FedMed and America's Choice Provider Network will help TrovaGene gain better market traction as well as top-line growth.

TrovaGene is focused on developing its PCM technology in order to gain market over the long haul. It is to be noted that the company’s non-invasive, cell-free technology is cost efficient. We feel that the technology can be ancillary to the current standard of tissue biopsy. It can also be performed in patients not fit for a tissue biopsy. We believe that there is significant market opportunity for TrovaGene as an important player in urine-based liquid biopsy platforms.

Meanwhile, TrovaGene is focused on presenting and publishing additional clinical data for the non-small cell lung cancer application at major oncology meetings and in peer-reviewed publications this year.

TrovaGene also plans to release clinical data and promote the broader capabilities of its platform with KRAF and BRAF mutation essays in diseases such as pancreatic cancer, colorectal cancer melanoma and histolytic disease.

Zacks Rank and Key Picks

Currently, TrovaGene has a Zacks Rank #3 (Hold). Better-ranked stocks in the medical sector are AMAG Pharmaceuticals AMAG, Anika Therapeutics ANIK and Gilead Sciences GILD. All the stocks sport a Zacks Rank #1 (Strong Buy).
 

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AMAG PHARMA INC (AMAG): Free Stock Analysis Report
 
GILEAD SCIENCES (GILD): Free Stock Analysis Report
 
ANIKA THERAPEUT (ANIK): Free Stock Analysis Report
 
TROVAGENE INC (TROV): Free Stock Analysis Report
 
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