Welcome to our dedicated page for Prophase Labs news (Ticker: PRPH), a resource for investors and traders seeking the latest updates and insights on Prophase Labs stock.
ProPhase Labs, Inc. (PRPH) generates a steady flow of company news across biotech, genomics, and consumer health. Its press releases and regulatory disclosures cover developments in molecular diagnostics, whole genome sequencing, OTC dietary supplements, capital markets activity, and strategic initiatives. For investors and followers of PRPH, this news stream provides insight into how the company is advancing its programs and managing its capital structure.
A major news theme for ProPhase is the BE-Smart Esophageal Cancer Test. Company announcements describe peer-reviewed validation studies conducted with Mayo Clinic, publication in leading gastroenterology journals, and plans for commercialization and clinical integration. Updates often detail BE-Smart’s performance metrics, its role in Barrett’s Esophagus risk stratification, and steps toward broader adoption and reimbursement discussions.
Another recurring topic is genomics and Nebula Genomics. ProPhase’s news highlights its whole genome sequencing offerings and the positioning of Nebula Genomics as a consumer genomics platform with a large and diverse DNA dataset. Releases also discuss related consumer health initiatives, including DNA Complete and DNA Expand product lines, within the company’s genomics and wellness strategy.
Capital structure and financing updates are also prominent in PRPH news. Recent items include information on senior secured convertible notes and warrants registered via an S-1, an at-the-market sales agreement, a 1-for-10 reverse stock split to address listing requirements, and shareholder communications about trading activity, convertible debt conversions, and the transition from Nasdaq to the OTC market. These disclosures explain how ProPhase is addressing liquidity, managing dilution, and aligning its share structure with strategic goals.
Strategic and legal developments appear as well, such as a non-binding Letter of Intent for a proposed reverse merger with Advanced Biological Laboratories S.A., the Crown Medical Collections receivables recovery initiative, and updates on legal matters disclosed in Form 8-K filings. For readers tracking PRPH, this news page aggregates these diverse updates in one place, making it easier to follow the company’s diagnostics, genomics, consumer health, and corporate actions over time.
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.
ProPhase Labs (NASDAQ: PRPH) has acquired the VaccTrack digital solutions suite, enhancing its capabilities in Covid-19 vaccination and testing documentation. This acquisition aims to facilitate secure certification for vaccination and testing results via a mobile app, supporting safe access to travel and public events. The solution integrates with ProPhase Diagnostics, offering features like certificate authentication, vaccination side effect reporting, and reminders for tests. The acquisition aligns with ProPhase's strategy to enhance shareholder value through growth in its diagnostics division.
ProPhase Labs (NASDAQ: PRPH) announced a conference call scheduled for March 31, 2021, at 4:30 p.m. ET, to discuss its fourth quarter and full year results for 2020. The call will be hosted by CEO Ted Karkus, followed by a Q&A session. Investors can access the call via a toll-free number or an international dial-in number. The company provides testing for COVID-19 and related respiratory pathogens through its subsidiary, ProPhase Diagnostics. A replay of the call will be available until April 14, 2021.
ProPhase Labs (NASDAQ: PRPH) has launched a new saliva-based RT-PCR multiplex testing system for the detection of COVID-19 and its mutations, along with Influenza A and B. This testing system integrates Spectrum Solutions' SDNA-1000 collection device and has received confirmation for Emergency Use Authorization from the FDA. The new system promises pain-free self-collection, optimal sample accuracy, and increased testing capacity of over 60,000 tests daily. ProPhase aims to enhance diagnostic capabilities amid ongoing health challenges.
ProPhase Labs (NASDAQ: PRPH) announced it has exceeded initial COVID-19 testing goals, processing over 2,500 tests daily in its Old Bridge, NJ lab. The company achieved a pre-tax net profit significantly exceeding $30 per test, aiming for approximately $100 million in gross revenues and $35 million in pre-tax net income in 2021. The newly operational Garden City lab enables a combined testing capacity of 60,000 tests per day. A shareholder call is scheduled for February 10, 2021, to discuss growth prospects and strategic direction.
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