Welcome to our dedicated page for Prenetics news (Ticker: PRE), a resource for investors and traders seeking the latest updates and insights on Prenetics stock.
Prenetics Global Limited (NASDAQ: PRE) generates an active stream of company news centered on its evolution as a health sciences business and the rapid growth of its IM8 premium health and longevity brand. Press releases describe Prenetics as a leading health sciences company focused on redefining the future of health and longevity through IM8, a premium core nutrition platform co-founded with David Beckham and championed by World No. 1 and four-time Grand Slam winner Aryna Sabalenka.
News updates commonly highlight IM8’s growth milestones, including disclosures that the brand reached over $100 million in annualized recurring revenue within roughly 11 months of launch and has been characterized by the company as the fastest-growing supplement brand in industry history. Articles also cover monthly revenue achievements, subscription metrics, and international expansion, reflecting IM8’s role as the centerpiece of Prenetics’ strategy.
Investors following PRE can also expect news on capital allocation and financing activities. Recent announcements include a best efforts public offering of Class A ordinary shares with accompanying warrants, a voluntary warrant exchange program designed to reduce potential dilution and simplify the capital structure, and updates on the company’s Bitcoin treasury strategy. Prenetics has communicated a shift away from new Bitcoin purchases, choosing instead to maintain existing holdings as a treasury reserve while directing new capital exclusively toward IM8.
Another recurring theme in Prenetics news is strategic portfolio optimization. Releases describe the sale of ACT Genomics, the divestiture of Europa Sports Partners, and an ongoing review of other non-core assets such as CircleDNA and the company’s stake in Insighta. These items are presented as part of a broader effort to focus on IM8 and improve operating margins.
News items may also include earnings announcements, conference participation, and insider share purchases by members of the executive leadership team, which are furnished to the SEC on Form 6-K. For readers tracking PRE, this news page provides a consolidated view of operational updates, financial developments, capital structure changes, and strategic decisions affecting Prenetics and its IM8 brand.
F.N.B. Corporation (NYSE: FNB) has declared a quarterly cash dividend of
Prenetics Global Limited (NASDAQ: PRE) announced a leadership change with Dr. Bayju Thakar appointed as CEO of Prenetics EMEA, effective immediately. This strategic move is aimed at enhancing the company’s growth in the complex EMEA healthcare market. Dr. Thakar, former CEO of Doctor Care Anywhere, brings over 20 years of healthcare experience and a strong digital health background. With an emphasis on expanding into primary care, IVF, and personalized cancer diagnostics, Prenetics seeks to leverage its robust balance sheet for both organic and inorganic growth opportunities across the region.
Prenetics has acquired a majority stake in ACT Genomics, enhancing its entry into the $80+ billion precision oncology market. ACT Genomics received FDA clearance for its ACTOnco genomic profiling test, the first of its kind from an Asia-based company. This comprehensive test analyzes 440 cancer-related genes to guide therapy decisions for solid tumors, potentially transforming cancer care in Asia. The FDA authorization may lead to insurance coverage and further R&D investment by Prenetics, reflecting a commitment to personalized medicine.
Prenetics Global Limited (NASDAQ: PRE) announced the acquisition of a majority stake in ACT Genomics Holdings for $20 million and 19.9 million shares. This strategic purchase integrates germline and somatic testing, enhancing Prenetics' offerings in the rapidly growing US$80 billion precision oncology market. ACT is expected to contribute US$25-30 million in revenue for 2023, solidifying Prenetics' position in cancer diagnostics. The acquisition is set to complete by December 30, 2022, pending usual conditions.
On November 30, 2022, Prenetics Global Limited (NASDAQ: PRE) announced a $20 million share repurchase program authorized by its board, effective over the next 24 months. This strategic move aims to enhance shareholder value amidst recent stock volatility. Additionally, Prenetics will be included in the MSCI Global Micro Cap Index (Hong Kong), marking a significant milestone. The company expects FY2022 revenues between $270-280 million and adjusted EBITDA of $47-53 million, demonstrating strong financial fundamentals and a robust balance sheet with $250 million in net current assets.
Prenetics Global Limited (NASDAQ: PRE) announced its Q3 2022 financial results, reporting revenues of US$80 million and a loss from operations of US$9 million. The company achieved an adjusted earnings of US$21 million and adjusted EBITDA of US$27 million with a gross margin of 59%. Prenetics ended the quarter with approximately US$250 million in cash. The company raised its full-year revenue guidance to US$270 million to US$280 million and adjusted EBITDA to US$47 million to US$53 million, reflecting strong growth and strategic expansion plans.
Prenetics Global Limited (NASDAQ: PRE) reported second-quarter revenue of US$51.7 million, with a loss from operations of US$(17.9) million. The company achieved an adjusted EBITDA of US$6.5 million and raised its full-year guidance for adjusted EBITDA to US$35 million to US$45 million, with revenue expectations set between US$255 million and US$275 million. The firm launched two new products and has a strong balance sheet with US$215.3 million in cash and equivalents as of June 30, 2022. Upcoming initiatives include a partnership to create a decentralized health data platform.
Prenetics Global Limited (NASDAQ: PRE) announced its Q1 2022 financial results, highlighting a 60.2% year-over-year revenue increase to US$92.0 million. The company reported a loss from operations of US$0.6 million but achieved a record adjusted EBITDA of US$12.7 million. With over US$260 million in cash following its Nasdaq listing, Prenetics is well-positioned for growth, particularly with upcoming product launches including ColoClear and Circle Snapshot. The firm is also making strides in M&A discussions aimed at enhancing its telehealth and personalized care offerings.
Prenetics has officially listed on Nasdaq under ticker symbol PRE as the first Hong Kong unicorn on May 18, 2022, following its business combination with Artisan Acquisition Corp. The transaction yields at least US$260M to support Prenetics' growth, facilitating strategic acquisitions and expansion into EMEA and Southeast Asia. Prenetics reported a 323% year-on-year revenue increase for FY2021, totaling US$275.9 million. The company is advancing M&A discussions in Europe and Southeast Asia, with an aim to enhance its genomic and diagnostic testing services.
Assured Guaranty Ltd. (NYSE: AGO) announced a $400 million issuance of 3.600% Senior Notes due 2051 on August 20, 2021. The funds will be utilized to redeem existing higher-coupon debt securities. On September 27, 2021, the company will redeem $400 million in outstanding notes, including $100 million of 5.60% Notes due July 15, 2103, $130 million of 6.25% Notes due November 1, 2102, and $170 million of 5.000% Senior Notes due July 1, 2024. The redemption prices will include accrued interest up to the redemption date.
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