Insight Molecular Diagnostics Inc.
IMDX evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for IMDX—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · IMDX
Insight Molecular Diagnostics Inc. (IMDX) is a molecular diagnostics company developing and commercializing tests for transplant and oncology markets, with a lead pipeline candidate in a Phase 3 pivotal study.
Key risk: Negative equity and cash burn
BioSniper Score
Based on 6 of 6 signals
Market Cap
$135.2M
Cash Runway
6.0 moLead Asset
determaio (Preclinical)
Next Catalyst
Phase3_Topline · Jun 1, 2027Financial data as of Jun 30, 2026.
Tracking 1 pipeline candidate · 1 clinical trial · 1 catalyst for Insight Molecular Diagnostics Inc..
Insight Molecular Diagnostics Inc. (IMDX) is a molecular diagnostics company developing and commercializing tests for transplant and oncology markets, with a lead pipeline candidate in a Phase 3 pivotal study.
- Cash & equivalents of $17.8M as of 2026-06-30 [sec].
- Total revenue of $0.2M and net loss of -$11.3M for the six months ended 2026-06-30 [sec].
- Shareholders' equity of -$31.5M as of 2026-06-30 [sec].
- Phase 3 topline data expected on 2027-06-01 for a pivotal study evaluating efficacy and safety [catalyst].
- Developing DetermaIO, an oncology test to identify patients likely to respond to checkpoint inhibitor drugs [sec_mda · as of 2025-11-10].
What works
- Company has cash runway to operate for at least one year from the date of its financial statements, per its own assessment [sec_mda · as of 2026-08-10].
- Phase 3 pivotal study topline readout is a near-term catalyst that could validate the company's lead diagnostic test [catalyst].
- DetermaIO test has promising data supporting its potential to identify patients likely to respond to checkpoint inhibitor drugs, addressing a large global market [sec_mda · as of 2025-11-10].
What to weigh
- Company has negative shareholders' equity of -$31.5M and a net loss of -$11.3M in the first half of 2026, indicating ongoing cash burn [sec].
- Revenue is minimal ($0.2M) and the company relies on additional capital to fund operations and development until it can generate sufficient revenues [sec_mda · as of 2026-05-13].
- Future cash payment obligations to former IGI and Chronix shareholders may divert cash from development and commercialization activities [sec_mda · as of 2026-03-26].
- Delays in obtaining regulatory approval or Medicare reimbursement could prevent the company from raising needed capital [sec_mda · as of 2026-03-26].
From the filings
Quoted directly from source documents.
Company has sufficient cash to operate for at least one year from the date of its financial statements.
“have sufficient cash and cash equivalents on hand and working capital, including available loans or lines of credit, if any, to operate for a period of at least one year from the date our consolidated financial statements are issued”
SEC MD&A · August 10, 2026
DetermaIO test is being developed to identify patients likely to respond to checkpoint inhibitor drugs.
“we are continuing to develop DetermaIO, a test with promising data supporting its potential to help identify patients likely to respond to checkpoint inhibitor drugs”
SEC MD&A · November 10, 2025
Company may need to use cash on hand to meet obligations to former IGI and Chronix shareholders.
“To meet the future cash payment obligations, we may have to utilize cash on hand that would otherwise be available to us for other business and operational purposes”
SEC MD&A · March 26, 2026
Company will need additional capital to finance operations until it generates sufficient revenues.
“We will need to continue to access additional capital to finance our operations, including the development and commercialization of our diagnostic tests”
SEC MD&A · November 10, 2025
Catalyst timeline
- 2027-06-01 · Phase3_Topline — Topline results from the pivotal Phase 3 study evaluating efficacy and safety of the company's lead diagnostic test.
Risks & what to watch (4)›
Key risks
- Negative equity and cash burn — Shareholders' equity of -$31.5M and net loss of -$11.3M as of 2026-06-30 indicate ongoing cash consumption [sec].
- Dependence on additional financing — Company needs to raise capital to fund operations and development until revenues cover expenses [sec_mda · as of 2026-05-13].
- Regulatory and reimbursement delays — Delays in regulatory approval or Medicare reimbursement could hinder capital raising and commercialization [sec_mda · as of 2026-03-26].
- Cash obligations to former shareholders — Future payments to former IGI and Chronix shareholders may reduce cash available for business activities [sec_mda · as of 2026-03-26].
What to watch
- Phase 3 topline data expected on 2027-06-01 for the pivotal study [catalyst].
- Ability to raise additional capital on acceptable terms to fund ongoing operations [sec_mda · as of 2026-05-13].
- Progress in obtaining Medicare reimbursement or private payer coverage for diagnostic tests [sec_mda · as of 2026-03-26].
- Development milestones for DetermaIO and other oncology pipeline tests [sec_mda · as of 2025-11-10].
Sources: SEC MD&A · Generated August 25, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 6 of 6 signals · derived from public data
6.0 months
OCF -$9M · Net income -$11M
Lead: Preclinical
1 candidate
1 upcoming, next in ~275d
12 buys · 0 sells (180d)
Runway
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
39
Total value held
$53.9M
| Holder | Shares | Value |
|---|---|---|
| broadwood capital inc | 11,931,839 | $39.1M |
| vanguard capital management llc | 1,074,322 | $3.5M |
| pura vida investments, llc | 947,134 | $3.1M |
| alyeska investment group, l.p. | 840,777 | $2.8M |
| heights capital management, inc | 392,545 | $1.3M |
| geode capital management, llc | 262,053 | $860K |
| blackrock, inc. | 135,345 | $444K |
| vanguard fiduciary trust co | 132,591 | $435K |
| family office research llc | 127,266 | $417K |
| millennium management llc | 103,470 | $339K |
Showing top 10 of 39 institutional holders of Insight Molecular Diagnostics Inc.. Open the full 13F history after sign-in.
Short Interest
as of May 21, 2026- % of float
- 4.5%
- Days to cover
- 1.7
- Shares short
- 713,244
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
IMDX short interestGovernance
Frequently asked questions
What is the AI investment thesis for Insight Molecular Diagnostics Inc.?
Insight Molecular Diagnostics Inc. (IMDX) is a molecular diagnostics company developing and commercializing tests for transplant and oncology markets, with a lead pipeline candidate in a Phase 3 pivotal study.
What is Insight Molecular Diagnostics Inc.'s lead drug candidate?
Insight Molecular Diagnostics Inc.'s most advanced tracked candidate is determaio (Preclinical) for Oncology therapy selection and monitoring (checkpoint inhibitor response).
What is Insight Molecular Diagnostics Inc.'s next catalyst?
Insight Molecular Diagnostics Inc.'s next tracked catalyst is a Phase3_Topline event — "Phase 3 Topline: An Open-label, Non-randomized, Multi-center Pivotal Phase 3 Study to Evaluate the Efficacy and Safet" — expected June 1, 2027.
Who is the CEO of Insight Molecular Diagnostics Inc.?
Mr. Joshua Riggs is the chief executive officer of Insight Molecular Diagnostics Inc. (IMDX).
Where is Insight Molecular Diagnostics Inc. headquartered?
Insight Molecular Diagnostics Inc. (IMDX) is headquartered in Nashville, TN, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.