Prophase Labs Inc Stock Price, News & Analysis

ProPhase Labs (Nasdaq: PRPH) has engaged CORE IR for investor relations and public relations support to enhance market awareness and communicate its business model effectively. CORE IR aims to expand ProPhase's institutional and retail investor base through its strategic advisory services. CEO Ted Karkus emphasized the company's unique growth story and diversification strategy. The partnership is expected to facilitate greater outreach and engagement with investors, aligning with ProPhase's objectives in the medical science and technology sector.

ProPhase Labs, Inc. (Nasdaq: PRPH) has been added to the Russell Microcap Index as of June 28, 2021, following the annual reconstitution of Russell Indexes. This inclusion is expected to enhance company awareness among a broader investor base and improve liquidity. FTSE Russell determines membership through market-capitalization rankings. The Russell Indexes are widely recognized benchmarks for investment managers, with approximately $10.6 trillion in assets linked to them. ProPhase Labs offers clinical diagnostic services, including COVID-19 testing, under its subsidiary ProPhase Diagnostics.

ProPhase Labs (NASDAQ: PRPH) has formed two subsidiaries: ProPhase Precision Medicine focusing on genomics testing, and ProPhase Global Healthcare for international COVID-19 testing. ProPhase Precision Medicine aims to acquire technologies for whole-genome sequencing (WGS), crucial for understanding genetic disorders and drug responses. The drop in WGS costs opens up a multi-billion-dollar genomic diagnostics market. The company also seeks to expand COVID-19 testing internationally, leveraging increased global demand.

ProPhase Labs (NASDAQ: PRPH) announced that CEO Ted Karkus will present at the LD Micro Invitational XI virtual conference on June 10, 2021, at 1:00 p.m. EDT. The conference runs from June 8-10, 2021, and Karkus will discuss the company's diverse medical science and technology initiatives. ProPhase Labs focuses on clinical diagnostics and testing services, particularly in COVID-19 and influenza testing, providing results in under 24 hours. For more details, visit ProPhaseLabs.com.

ProPhase Labs reported a remarkable 709% revenue increase in Q1 2021, totaling $15.3 million, driven primarily by its new diagnostic services. Gross profit surged to $8.9 million, yielding a net income of $1.1 million or $0.07 per share. The company declared a special cash dividend of $0.30 per share, payable on June 3, 2021. Recent contracts will provide reliable COVID-19 testing to nearly 600,000 residents in New York. The company boasts $36.3 million in cash and equivalents as of March 31, 2021, signaling a strong financial position.

ProPhase Labs (Nasdaq: PRPH) has secured a contract with Dutchess County, NY, to provide COVID-19 testing for nearly 300,000 residents. The company’s 99% accurate multiplex RT-PCR testing will deliver results within 24 hours directly to patients’ smartphones. This initiative enhances local reopening efforts, coinciding with the start of the Hudson Valley Renegades' baseball season. Testing will commence on May 9, 2021, at Dutchess Stadium, with no out-of-pocket costs for residents.

ProPhase Labs has signed a contract with The Town of Oyster Bay, NY, to provide COVID-19 testing for its residents. This partnership aims to facilitate a safe reopening for the community, offering reliable and fast saliva-based viral RT-PCR testing. Test results will be available within 24 hours, targeting schools and major community events initially. The initiative is part of broader efforts to help local residents return to normal activities.

ProPhase Labs (NASDAQ: PRPH) will hold a conference call on May 13, 2021, at 4:30 p.m. ET to discuss its Q1 2021 results, ending March 31, 2021. The call will be hosted by CEO Ted Karkus and will include a Q&A session. Interested participants can join via the toll-free number 1-877-407-0784 or internationally at 1-201-689-8560. A live broadcast will be available online, with a replay accessible after 7:30 p.m. ET through May 27, 2021.

ProPhase Labs, Inc. (NASDAQ: PRPH) announced transformative developments including the acquisition of the VaccTrack digital solution to enhance its COVID-19 vaccination and testing services. The company reported a significant revenue increase to $14.5 million for 2020, up from $9.9 million in 2019, primarily due to its diagnostic services. The new facilities can support 60,000 tests daily. However, despite growth, ProPhase recorded a net loss of $2.1 million for 2020. Management focuses on expanding testing revenues and lab acquisitions as the pandemic situation evolves.