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) is expanding its CLIA lab operations by leasing a new 25,000 square foot facility in Garden City, New York, aiming to process up to 50,000 COVID-19 tests daily by Q1 2021. The company has ordered necessary equipment and is hiring technical staff, expecting to create around 100 jobs. CEO Ted Karkus indicated that new accounts have already begun using the New Jersey lab, suggesting significant growth opportunities. However, he cautioned about uncertainties regarding business attraction and demand fulfillment.
ProPhase Labs, Inc. (NASDAQ: PRPH) reported net sales of $3.8 million for Q3 2020, up from $2.8 million in Q3 2019. Despite the increase in sales, the company experienced a net loss of $569,000 or ($0.05) per share, compared to a loss of $428,000 or ($0.04) per share a year earlier. For the nine months ended September 30, 2020, net sales reached $9.4 million, compared to $6.7 million in the same period of 2019. CEO Ted Karkus highlighted the expansion of their supplement, Legendz XL®, into major retailers and the acquisition of a CLIA-accredited lab to enhance testing capabilities, aiming for a run rate of 4,000 tests per day by Q1 2021.
ProPhase Labs (NASDAQ: PRPH) announced its participation in the Virtual Fall Investor Summit from November 16-18, 2020. CEO Ted Karkus will present and hold one-on-one meetings, showcasing the new ProPhase Diagnostics and its recent acquisition of a CLIA accredited laboratory in New Jersey. Steven Kamalic, the new COO, brings 18 years of industry experience, previously overseeing a successful laboratory. This event marks an important opportunity for ProPhase Labs to communicate growth strategies and innovations.
ProPhase Labs (NASDAQ: PRPH) has acquired Confucius Plaza Medical Laboratory Corp., enhancing its medical testing capabilities. The lab, sized at approximately 4,000 square feet, specializes in various tests, including COVID-19 diagnostics. ProPhase Diagnostics aims to significantly boost lab capacity, targeting processing up to 8,000 tests daily by Q1 2021. With the estimated market for COVID-19 detection kits projected at $6.1 billion in 2021, the company anticipates a potential $7.5 million in annual pre-tax income from testing operations. ProPhase also plans to expand its diagnostics services further.
ProPhase Labs, Inc. (NASDAQ: PRPH) announced a definitive agreement to acquire Confucius Plaza Medical Laboratory Corp., a CLIA-accredited facility based in New Jersey, for $2.5 million. This acquisition aims to enhance ProPhase's diagnostic testing capabilities, particularly for COVID-19 and respiratory pathogens. The lab will operate under ProPhase Diagnostics, Inc., allowing the company to process up to 8,000 COVID-19 tests daily. The transaction is expected to close shortly, pending customary conditions, and current lab management will remain in place to ensure continuity.
ProPhase Labs (NASDAQ: PRPH) announced plans to explore acquiring CLIA accredited labs for COVID-19 testing. The company entered into a Consulting Agreement with Predictive Laboratories, Inc. to aid in this process, which includes identifying new opportunities and acquiring labs. ProPhase also issued a $3.0 million Amended Promissory Note to Predictive Labs, with milestone-based compensation under the Consulting Agreement aimed at expediting payment. The collaboration aims to enhance ProPhase's capabilities in medical technology and testing, ultimately creating long-term value for shareholders.
ProPhase Labs (NASDAQ: PRPH) has engaged MZ Group for a strategic investor relations campaign aimed at enhancing visibility in the investment community. This initiative follows a significant revenue increase of 124% year-over-year, totaling $3.6 million in the latest fiscal quarter, driven by heightened demand for OTC healthcare products. MZ Group, a renowned investor relations specialist, will assist ProPhase in capital markets strategy, roadshows, and brand awareness. Executives express confidence in the company’s growth prospects amidst the ongoing COVID-19 pandemic.
ProPhase Labs, Inc. (NASDAQ: PRPH) announced an at-the-market equity offering sales agreement with A.G.P./Alliance Global Partners, enabling the company to sell shares through various methods on the Nasdaq. The proceeds from this offering will support working capital, product development, acquisitions, and general corporate purposes. ProPhase has approximately $20 million in working capital, enhanced by a recent debt financing. CEO Ted Karkus emphasized the flexibility gained from the ATM facility to access capital for strategic transactions and opportunities.
ProPhase Labs, Inc. (NASDAQ: PRPH) has successfully closed a $10 million unsecured debt financing through two promissory notes. Each note matures in three years and accrues 10% annual interest, payable quarterly. Lenders can convert up to $3 million of the notes into common stock at a price of $3.00 per share after 13 months. The funds will be allocated for working capital, product development, and potential acquisitions. The CEO emphasized existing working capital of about $10 million will enhance business opportunities.
ProPhase Labs, Inc. reported net sales of $3.6 million for Q2 2020, an increase from $1.7 million in Q2 2019. The company achieved net income of $70,000 ($0.01 per share), reversing a net loss of $1.2 million ($0.11 per share) year-over-year. For the first half of 2020, net sales totaled $5.5 million, up from $4.0 million in the prior year, with a reduced net loss of $0.7 million compared to $2.3 million. This improvement stemmed from a rise in third-party orders and reductions in costs across various expense categories.