Cerenome Provides Q3 Update On CNSide Diagnostics; Stock Up
(RTTNews) - Cerenome, Inc. (CNSY) provided a third-quarter 2026 business update for its wholly owned subsidiary, CNSide Diagnostics, LLC, covering gross payer billings, medicare coverage efforts for its Tumour Cell Enumeration (TCE) test, and expansion of the CNSide testing menu.
The update included that CNSide billed 222 tests, representing $1.55 million in unaudited gross billings, for which the company expects initial cash collections in the fourth quarter.
CNSide Diagnostics develops tests such as CNSide designed to identify tumour cells that have metastasised to the central nervous system in patients with carcinomas and melanomas.
Notably, the CNSide CSF Assay Platform provides quantitative analysis of cerebrospinal fluid to help inform the management of patients with leptomeningeal metastases.
Russell Bradley, President and General Manager of CNSide Diagnostics, said the company has established elements of its diagnostics business, including clinical evidence, payer contracts, a dedicated billing code, laboratory accreditation and billing infrastructure, while making progress on Medicare coverage.
The other third-quarter CNSide Highlights included:
- CNSide said its TCE Test has 158 million contracted covered lives and expects that figure to reach approximately 200 million covered lives and beneficiaries by the beginning of 2027.
- The company received a preliminary CMS pricing decision for PLA code 0640U, with a target effective date of January 1, 2027.
- CNSide expects to reach or exceed an annualised test-volume run rate of 1,250 tests in the fourth quarter of 2026.
- The company plans to launch its CSF Molecular Profile Test and other CNSide Breast Cancer Protein Expression Assays in the fourth quarter of 2026.
- CNSide expects to reach an annualised gross billing run rate of approximately $10 million to $12 million in the fourth quarter, based on list pricing, an expanded test portfolio and increased adoption.
CNSY has traded between $1.86 and $23.50 over the last year.
Following the news, the stock is currently up 3.71% at $1.93.
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