Epigenomics (EPGNF)

[eageleye]

U.S. Centers for Medicare & Medicaid Services (CMS) will not make a final decision until after 60 days. Epigenomics is now in the 30-day public comment period. The drop this morning seems a little premature given the positive public response so far.

"Berlin, October 16, 2020- Epigenomics AG (Frankfurt Prime Standard: ECX, OTCQX: EPGNY; the “Company”) announces that the U.S. Centers for Medicare & Medicaid Services (CMS) have issued a negative reimbursement proposal in connection with the National Coverage Determination (NCD) of Epi proColon, Epigenomics’ blood test for colorectal cancer screening.

The proposed NCD is preliminary. According to the statutes, a 30-day public comment period will now begin, which will be used to further convince CMS of the benefits of Epi proColon in the fight against colorectal cancer. The public response during the initial public comment period at the beginning of the NCD was overwhelmingly positive. Following the comment period, CMS will publish their final decision within 60 days. If the final decision is also negative, the Company will take the opportunity to appeal the decision."