I saw a headline that Mdxhealth received a NASDAQ minimum price warning. July 2.
I had recently seen it had closed an infectious molecular testing line of business, perhaps related to numerous payor cutbacks in 87798 payments.
I asked Chat GPT for a quick debrief.
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Mdxhealth is a real operating prostate/urology diagnostics company, but it has a weak public-market situation. The Nasdaq notice means its share price has been below $1.00 for 30 consecutive business days, triggering a minimum-bid deficiency notice. It does not immediately delist the company; Mdxhealth has until December 28, 2026 to regain compliance by closing at $1.00+ for at least 10 consecutive business days. The company also said it may consider a reverse share split if needed. (mdxhealth)
The likely investor concern is not “they only have 87798 microbiology.” It is more like:
They had a reimbursement blowup in Resolve mdx, the UTI/STI infectious-disease business. Novitas issued a roughly $10.4M recoupment decision related to historical Resolve claims, which Mdxhealth says it is contesting. (mdxhealth)
They then decided to exit Resolve mdx and shut down the Plano, Texas lab, leaving restructuring/write-down costs to be recognized later. (mdxhealth)
Their remaining/core business is prostate/urology oncology, not microbiology: Exo mdx, Confirm mdx, and GPS mdx are the current prostate-cancer-oriented lines highlighted on the company site. The company describes itself as focused on “prostate cancer and other urologic diseases.” (mdxhealth)
Financially, they are still losing money. In Q1 2026, revenue was $27.4M, but operating loss was $7.3M, net loss $8.9M, and adjusted EBITDA was negative $4.3M. Cash was $43.2M at March 31, but pro forma for a $15M Exact Sciences earnout payment, cash would have been $28.2M. (mdxhealth)
So a revised capsule would be:
Mdxhealth is not primarily an 87798 microbiology lab. It is a prostate/urologic molecular diagnostics company that bought or built a set of prostate assays, but it also had a Resolve mdx infectious-disease business that became a reimbursement liability. The Nasdaq issue reflects share-price/capital-market distress, probably driven by losses, dilution/cash concerns, and the Resolve/Novitas overhang — not by the absence of a prostate business.
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I asked about recent acquisitions.
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Yes. Mdxhealth has been assembling a prostate/urology diagnostics portfolio by acquisition. The two big ones are:
| Year | Seller / source | Test / business | Comment |
|---|---|---|---|
| 2022 | Exact Sciences / Genomic Health legacy | Oncotype DX Genomic Prostate Score / GPS | Mdxhealth bought Exact’s Oncotype DX GPS prostate cancer business for up to $100M, including $25M cash upfront plus stock and earnout structure. This was the old Genomic Health prostate assay, since Exact had acquired Genomic Health in 2019. (mdxhealth) |
| 2025 | Bio-Techne / Exosome Diagnostics | ExoDx Prostate / EPI | Mdxhealth acquired Exosome Diagnostics from Bio-Techne, including the ExoDx Prostate test, CLIA lab, and related assets, for total consideration of about $15M. The acquisition closed in September 2025. (mdxhealth) Related fact: BioTechne had paid $250M for Exosome in 2018. |
| 2015 | NovioGendix | SelectMDx | Older acquisition: Mdxhealth acquired NovioGendix, giving it the urine-based SelectMDx prostate cancer liquid-biopsy test. (mdxhealth) |
So your memory is right: GPS came from Exact Sciences/Genomic Health, and ExoDx came from Bio-Techne/Exosome Diagnostics. Alongside legacy ConfirmMDx, that gives them a prostate-testing stack: pre-biopsy risk assessment, post-negative-biopsy risk assessment, and localized prostate cancer prognosis/treatment guidance.
The confusing part is that Resolve mdx, the UTI/STI infectious-disease business using codes like 87798, became the recent reimbursement problem and was discontinued. But that was not the whole company. The surviving strategic story is more like: a financially stressed prostate molecular-diagnostics roll-up that also had a failed/discontinued UTI line.
