Precipio Inc Stock Price, News & Analysis

Precipio (NASDAQ: PRPO) has entered into an exclusive global distribution agreement with ADS Biotec for its IV-Cell cytogenetics cell culturing media. The new version of IV-Cell is fully validated and aims to enhance efficiency and accuracy in laboratories. This partnership leverages ADS Biotec's extensive customer base and distribution network, allowing for expedited product rollout. The go-to-market strategy focuses on strategic partnerships instead of building internal sales teams, expected to accelerate market penetration. A beta study is planned for Q4-2020.

Precipio, Inc. (NASDAQ: PRPO) will host its Q2-2020 corporate update call on August 17, 2020, at 5:00 PM ET. The call will cover updates on the company's core businesses and its COVID-19 testing initiative. Interested parties can access the call by dialing 844-695-5519 (international: 1-412-902-6760) or by pre-registering for a direct dial-in to bypass the operator. A replay will be available 24 hours post-call. Precipio focuses on improving diagnostic accuracy through collaborations with leading academic institutions, addressing misdiagnosis in cancer diagnostics.

Precipio, a specialty diagnostics company (NASDAQ: PRPO), has completed the internal validation of its FDA-approved COVID-19 serology antibody test. The test is now commercially available to its pathology customers, marking the first phase of its rollout. Precipio aims to expand distribution to point-of-care facilities pending further FDA approval. The test offers a 24-hour turnaround with reimbursement of approximately $45 per test. The company plans to increase testing capacity from 1,000 to 10,000 tests per day by the end of Q3 2020. Management believes the company is adequately financed for its operational needs.

Precipio, Inc. (NASDAQ: PRPO) has entered an agreement with ADS Biotec to distribute FDA-authorized COVID-19 serology antibody tests. The company plans to roll out the tests initially as CLIA tests in its lab starting in August, followed by point-of-care testing and at-home use. A Harvard study highlights a daily demand for 5-20 million tests in the US, indicating a significant market opportunity. Precipio’s strategy aims to address the testing capacity gap, enhancing its role in combating the pandemic while keeping shareholders informed on progress.

Precipio, Inc. (NASDAQ: PRPO) reports preliminary unaudited revenues for pathology services increased to $1.3M in Q2 2020, a 50% growth from $0.8M in Q1 2020. The growth is attributed to sustained volume increases and the successful integration of Oncometrix accounts. The company’s HemeScreen Reagent Rental (HSRR) program is also gaining traction among oncology practices, enhancing revenue opportunities. HemeScreen technology allows faster and cost-effective molecular testing. CEO Ilan Danieli emphasizes resilience amidst economic challenges posed by the COVID-19 pandemic.

Precipio, Inc. (NASDAQ: PRPO) has regained compliance with Nasdaq listing requirements, as confirmed by a letter received on June 29, 2020. The letter noted that the company's shares had maintained a closing bid price at or above $1.00 for ten consecutive business days. CEO Ilan Danieli expressed optimism about future growth opportunities, emphasizing a focus on enhancing shareholder value. Precipio aims to improve diagnostic accuracy through collaborations with leading academic institutions like Yale and Dana-Farber Cancer Institute, supporting patient care worldwide.

Precipio, Inc. (NASDAQ: PRPO) has partnered with Cancer and Hematology Centers of Western Michigan (CHCWM) to implement their HemeScreen technology for molecular testing of hematologic malignancies. This collaboration is expected to generate annual revenues starting at $75,000, potentially doubling with additional assays. The technology allows for faster turnaround times (1-2 days) for crucial test results compared to the industry norm of 2-4 weeks, significantly enhancing patient care. Precipio's Reagent Rental program aims to facilitate molecular testing for physician office laboratories without the need for substantial upfront investment.

Precipio (NASDAQ: PRPO) reported a 77% increase in net revenue for Q1-2020, totaling $1.2M, up from $0.7M in Q4-2019. Key drivers included enhanced sales productivity and internalization of molecular tests. Metrics show a 27% rise in pathology revenue, a 43% increase in case volume, and a 56% growth in new customers compared to the prior quarter. However, average revenue per unit decreased 18% from Q4-2019. Management expresses optimism for continued growth despite challenges posed by COVID-19.

Precipio, Inc. (NASDAQ: PRPO) will host its Quarter 1-2020 corporate update call on May 19, 2020, at 5:00 PM ET. Callers can join by dialing 844-695-5519 or internationally at 1-412-902-6760. Registration is available at here, allowing participants to bypass the operator. Precipio aims to improve diagnostic accuracy through collaborations with leading academic institutions, including Yale and Dana-Farber. The call will address questions submitted via email to investors@precipiodx.com. A replay will be accessible 24 hours post-call on the company's investor page.