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, Inc. (NASDAQ: PRPH) will present at the Planet MicroCap Showcase: VEGAS 2023 on April 26, 2023, at 10:30 am PST (1:30 pm EST). CEO Ted Karkus will lead the presentation and answer questions afterward. Interested parties can access the live event via the provided webcast link.
For those attending, 1x1 investor meetings can be scheduled at the conference venue in Las Vegas. ProPhase Labs specializes in diagnostics, genomics, and biotech, leveraging CLIA lab services for whole genome sequencing and traditional molecular lab services, including COVID-19 testing. The company operates several subsidiaries focused on diverse health and biotechnology solutions.
ProPhase Labs (NASDAQ: PRPH) reported a significant financial turnaround for the year ending December 31, 2022, achieving net revenues of $122.6 million, up 55% from $79.0 million in 2021. The company also posted a net income of $18.5 million ($1.17/share) compared to $6.3 million ($0.41/share) the previous year. Adjusted EBITDA rose to $38.6 million. A $5.9 million charge related to bad debts was noted, stemming from halted HRSA reimbursements for uninsured patients. ProPhase acquired the rights to develop several promising therapeutics and is focusing on global expansion opportunities with the BE-Smart cancer test. A conference call is scheduled for March 28, 2023, to discuss results and future plans.
ProPhase Labs, Inc. (NASDAQ: PRPH) will hold a conference call on March 28, 2023, at 11:00 a.m. Eastern to discuss its 2022 financial results. CEO Ted Karkus will host the call, which will include a Q&A session.
Participants can register for the call via a provided link, and dial-in options are available for those without internet access. A replay will be available shortly after the call.
ProPhase specializes in diagnostics, genomics, and biotech, leveraging CLIA lab services for genome sequencing, and operates a contract manufacturing subsidiary, Pharmaloz.
ProPhase Labs, Inc. (NASDAQ: PRPH) has announced a new stock repurchase program of up to $6 million. This decision follows the expiration of the previous buyback program in February 2023. Over the last six months, ProPhase has retired 1.2 million shares. The new buyback will occur over the next six months and will depend on various factors, including market conditions. CEO Ted Karkus emphasized the company's strong execution over the past two years, highlighting growth in subsidiaries such as Pharmaloz and Nebula Genomics with expected revenue increases. The development of the BE-Smart Esophageal Cancer Test is also progressing well, with a potential launch later this year.
ProPhase Labs, Inc. (NASDAQ: PRPH) announced a significant presentation at the United States and Canadian Academy of Pathology (USCAP) Annual Meeting from March 11-16, 2023, in New Orleans, LA. The presentation will showcase the BE-Smart Test, which detects precancerous conditions in Barrett's esophagus, a notable concern given the rapid rise of esophageal adenocarcinoma in the U.S. The senior author, Dr. Andrew Cannon from the Mayo Clinic, will present findings that demonstrate the BE-Smart Test's effectiveness with over 99% accuracy. The test aims to facilitate early cancer detection, potentially reducing late-stage diagnoses, with commercialization plans underway.
ProPhase Labs (NASDAQ: PRPH) announced a significant update regarding its subsidiary, Nebula Genomics, which has launched a new whole genome sequencing (WGS) test priced at only $249. This price is notably lower than competing services that range from $400 to $1100, positioning Nebula as a leading player in the direct-to-consumer genomics market. The WGS service decodes approximately 6.4 billion base pairs and offers over 300 personalized reports based on genetic profiles. Furthermore, Nebula's state-of-the-art laboratory in New York enhances service efficiency and accuracy, showcasing ProPhase's commitment to accessible personal genomics.
ProPhase Labs (NASDAQ: PRPH) has announced a collaboration with mProbe, Inc. and Dr. Christopher Hartley of Mayo Clinic to develop the BE-Smart Esophageal Pre-Cancer Diagnostic Screening test. Initial commercialization is targeted for Q3 2023 as a laboratory developed test, with full commercialization expected by mid-2024. The test has demonstrated over 99% accuracy in identifying significant histologic classifications and aims to aid in early detection of esophageal cancer. ProPhase estimates a potential market of $2 billion to $4 billion based on annual endoscopies for Barrett’s esophagus.
ProPhase Labs, Inc. (NASDAQ: PRPH) announced the initiation of a randomized clinical trial for Equivir, aiming for commercial launch in Q4 2023. Conducted by Vedic Lifesciences at 12 sites, enrollment starts March 2023. CEO Ted Karkus emphasizes the potential of Equivir to improve health outcomes globally. Following a licensing deal in Q2 2022, ProPhase has developed Equivir's formulation and marketing plans. The trial is expected to conclude in Q3 2023, with Equivir designed to block viral entry into cells, leveraging the company's extensive retail partnerships for distribution.
ProPhase Labs (NASDAQ: PRPH) has announced that its diagnostic test for esophageal cancer screening, the BE-Smart assay, was featured in the International Journal of Molecular Science. The assay aims to address the limitations of current diagnostic protocols, demonstrating over 99% sensitivity and specificity in identifying high-risk cancerous protein expressions.
The company plans to commercialize the BE-Smart test within 12 to 18 months, targeting a multi-billion-dollar market. CEO Ted Karkus emphasized its potential to improve early detection of precancerous cells, significantly enhancing patient outcomes.
ProPhase Labs, Inc. (NASDAQ: PRPH) recently announced business updates regarding its subsidiary, Pharmaloz Manufacturing. The company is set to acquire new equipment to double pouch packaging capacity by Q2 2023 and aims for a total capacity increase of 200% by 2024. This expansion will be funded through internal cash flow, requiring no capital from the parent company. In 2022, Pharmaloz took on two new full-production customers and launched seven new products. Furthermore, negotiations are underway with potential clients that could significantly boost production. CEO Ted Karkus emphasized the company's growth strategy and solid partnerships with major retailers.
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