G1 Therapeutics Inc. (GTHX) was active on the charts yesterday, rising 6.09% to $16.58 as of the last check in afterhours trading. During regular trading on Monday, GTHX stock fell -2.19% to close at $15.63. GTHX stock traded for 0.75 million shares on the day, less than the average volume of 1.13 million over the last three months. The GTHX stock fluctuated between $15.61 and $16.28 during the regular session. The earnings per share ratio for GTHX was -2.56. GTHX stock has lost -9.18% of its value in the past five sessions, -23.87% over the past month, and -13.12% in the last year. With a 50-day moving average of $20.09, GTHX stock’s 200-day moving average of $20.41 is almost at its level. Additionally, GTHX is currently trading at an RSI of 24.72. In response to an addition payment, GTHX stock rose.
GTHX Stock will be paid for what?
COSELA (trilaciclib), the Company’s first commercial product, is a next-generation biopharmaceutical product, under development and commercialization by G1 Therapeutics. COSELA is being evaluated by GTHX in a variety of cancers, including colorectal, breast, lung, and bladder cancers, due to its tumor-agnostic nature. Research Triangle Park, N.C., is the headquarters of GTHX.
According to news released by G1 Therapeutics, the Centers for Medicare & Medicaid Services (CMS) has awarded COSELA (trilaciclib) a new technology add-on payment (NTAP) when it is administered to Medicare beneficiaries, especially patients in hospital inpatient settings. The changes will take effect on October 1, 2021 for provider billing.
As part of NTAP, hospitals receive an additional payment above Medicare’s standard Diagnosis-Related Groups (MS-DRG) payment amount. After receiving a C Code for hospital outpatients (effective July 1, 2021) and a permanent J Code for all healthcare settings (effective October 1, 2021), this grant is being applied for. The NTAP will reimburse hospitals up to 65 percent of the average cost of any technology that exceeds the full DRG payment, in addition to standard-of-care reimbursement.
Therefore, COSELA inpatient hospital payment will be increased to $5,526.30 beginning on October 1, 2021. The NTAP program was instituted by Congress to enable Medicare beneficiaries to obtain innovative therapies at the same time as collecting information about them to be used in future rate-setting.
How will GTHX benefit?
In issuing a notification of potential approval for COSELA, CMS recognizes GTHX’s potential to provide proactive multilineage myeloprotection for patients living with extensive stage small cell lung cancer. As part of the National Treatment Access Program, GTHX is able to get COSELA to more patients, thereby improving patient access to this important drug. G1 Therapeutics (GTHX) applauded CMS for its decision. Clinticans who are undergoing chemotherapy for extensive lung cancer need effective tools to prevent or minimize the effects of myelosuppression.
