STOCK TITAN

Precipio, Inc. - $PRPO STOCK NEWS

Welcome to our dedicated page for Precipio news (Ticker: $PRPO), a resource for investors and traders seeking the latest updates and insights on Precipio stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Precipio's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Precipio's position in the market.

Rhea-AI Summary

Precipio, Inc. (NASDAQ: PRPO) has secured a $500K short-term loan facility to address cash collection delays due to Change Healthcare's cybersecurity attack. The loan will help manage any temporary cashflow deficits impacting the company's Diagnostic Services division. While the cybersecurity incident affected CH's cash reserves, Precipio's Products division remains unaffected. The loan allows flexibility in borrowing and repayment, ensuring operational liquidity.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.98%
Tags
none
-
Rhea-AI Summary
Precipio, Inc. (PRPO) will host its year-end 2023 corporate update call on April 1st, 2024, providing updates on its core businesses. The conference call details are provided for participation and pre-registration, with a replay available later. Investors can submit questions in advance for management to address during the call.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.4%
Tags
none
-
Rhea-AI Summary
Precipio, Inc. (PRPO) reports a significant revenue growth of 60% year over year, with unaudited revenues reaching $15.2M in 2023, up from $9.4M in 2022. The pathology services division saw a 52% revenue increase, while the products division experienced a substantial 115% revenue growth. Cost-cutting measures in 2023 led to a reduced cash burn, with a $1.5M cash balance at the end of the year. The company aims to achieve profitability, with CEO Ilan Danieli emphasizing the potential for increased shareholder value.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.47%
Tags
conferences
Rhea-AI Summary
Precipio, Inc. has entered into a distribution agreement with Cardinal Health for its HemeScreen molecular assay products. This agreement will allow Cardinal Health to market and distribute Precipio’s HemeScreen portfolio of molecular assays to its customer base, including hospital networks, reference laboratories, and physician-owned laboratories. CEO Ilan Danieli sees this agreement as a significant step in strengthening Precipio's distribution network and positioning the company for growth in 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
8.24%
Tags
none
-
Rhea-AI Summary
Specialty cancer diagnostics company Precipio, Inc. (NASDAQ: PRPO) announces significant progress towards reaching breakeven, with a decline of over 90% in Cash Burn From Operations (CBFO) from the previous quarter. The end of quarter cash balance changed from approximately $1.5M to $1.4M, achieved without a significant increase in accounts payable. Management cautions that Q1-2024 may not demonstrate the same results due to seasonal declines in the pathology business during year-end holidays and insurance plan resets at the start of the calendar year. Despite these challenges, the company's high variable margins from product sales give confidence in achieving incremental growth to close the remaining gap.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.24%
Tags
none
-
Rhea-AI Summary
Precipio, Inc. (NASDAQ: PRPO) has announced a new agreement with a Japanese distributor for the sales and distribution of its IV-Cell cytogenetics media in the Japanese market. The distributor has secured the first purchase order from a leading Japanese clinical laboratory, with the first shipment expected by the end of Q1-2024. This marks a significant expansion into the Japanese diagnostic market, known for its high quality standards and rigorous product scrutiny.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
15.37%
Tags
none
Rhea-AI Summary
Precipio, Inc. (NASDAQ: PRPO) announces the appointment of Christina Valauri to its board of directors and the departure of Douglas Fisher, MD as Director, effective Jan 1st, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.15%
Tags
management
-
Rhea-AI Summary
Precipio, Inc. (NASDAQ: PRPO) reflects on 2023 and looks forward to 2024. Management set three goals at the start of 2023, focusing on achieving cash flow breakeven. By Q3-2023, the company achieved two of its three goals, surpassing $3.75M in pathology division revenues and reducing cash burn to $1M/quarter. The company reported $4.5M in quarterly revenues for the pathology and products divisions, a 50% YoY increase to approximately $18.5M in annualized run-rate revenues. If the company achieves a growth rate of ~50% in 2024, it could reach ~$30M in annual run-rate revenue, likely resulting in positive cash flow during the second half of 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.45%
Tags
none
-
Rhea-AI Summary
Precipio, Inc. (NASDAQ: PRPO) to hold Q3-2023 corporate update call on November 20th, 2023 at 5:00 PM ET. The call will cover updates on all core businesses. Participants can pre-register for the call and submit questions in advance.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-7.74%
Tags
none
Rhea-AI Summary
Precipio, Inc. reports a 28% revenue increase in Q3-2023, reaching $4.5M.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.25%
Tags
conferences
Precipio, Inc.

Nasdaq:PRPO

PRPO Rankings

PRPO Stock Data

8.35M
1.39M
3.66%
10.38%
0.37%
Analytical Laboratory Instrument Manufacturing
Manufacturing
Link
United States of America
OMAHA

About PRPO

precipio is a cancer diagnostics reference laboratory, delivering the latest in advanced diagnostics and personalized medicine. our goal is to assist oncologists in providing the best care for their patients. at the intersection of academia, cancer research, and diagnostics, we connect physicians with world-renown pathologists at the yale school of medicine. at precipio, our customers and their patients benefit from the most accurate, expert diagnosis. we provide our customers exclusive access to some of the most innovative tests in the field of molecular diagnostics, developed through cutting edge research, and the ongoing pursuit and refinement of the science of personalized medicine.