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.
Precipio Inc (PRPO) delivers innovative cancer diagnostics through advanced testing technologies and strategic research partnerships. This news hub provides investors and healthcare professionals with essential updates on the company's progress in personalized medicine and laboratory services.
Access official press releases covering financial results, diagnostic product launches, and collaborations with leading medical institutions. Our curated collection ensures timely updates on regulatory milestones, clinical validation studies, and operational developments within Precipio's CLIA-certified laboratories.
Key focus areas include advancements in blood cancer diagnostics, molecular testing innovations, and partnerships enhancing precision oncology. All content maintains strict compliance with financial disclosure standards, offering neutral reporting on material business developments.
Bookmark this page for streamlined access to Precipio's latest announcements, or check back regularly for updates impacting the oncology diagnostics sector. For historical context, explore archived releases demonstrating the company's ongoing commitment to reducing diagnostic errors in cancer care.
Precipio, a specialty diagnostics company, announced the adjournment of their 2024 Annual Meeting of Shareholders due to a lack of quorum. The meeting will reconvene virtually on June 21, 2024, at 9 a.m. ET. Shareholders who have not yet voted are urged to do so through their broker or online at www.proxyvote.com. Votes must be submitted by June 20, 2024, 11:59 p.m. ET. CEO Ilan Danieli emphasized the importance of obtaining a quorum to avoid additional costs. The record date for voting eligibility remains April 19, 2024. Previous proxies remain valid, and instructions for voting changes are provided in the Definitive Proxy Statement available on the company's website and the SEC's website.
Precipio, a specialty cancer diagnostics company, urgently requests shareholders to vote by today, June 12, 2024, to ensure a quorum for their Annual Shareholders Meeting scheduled for tomorrow, June 13, 2024. As of now, only 44% of shares have been voted, and at least 50% is needed. Failure to achieve this quorum could result in rescheduling, which may cost the company up to $100,000, compared to the less than $5,000 for the current meeting. Shareholders are urged to instruct their brokers to vote by 11 p.m. Eastern Time to avoid these potential costs.
Precipio, a specialty cancer diagnostics company, provided a business update addressing several key areas. In Q3 2023, the pathology division surpassed its $15M annual revenue breakeven point but faced setbacks in the following quarter. The company has rectified operational issues and expects to breach the breakeven point again by Q3 2024. On the products side, delays due to technical and supply chain issues have been resolved, with significant customer onboarding anticipated to drive revenue growth. The company was impacted by the Change Healthcare hacking but expects normal operations to resume by Q3 2024. A recent FDA ruling on Laboratory Developed Tests (LDTs) will require Precipio to submit its products for FDA approval over the next four years, at an estimated cost of $250,000. Precipio's CEO expressed confidence in reaching breakeven this year and highlighted an upcoming shareholder meeting on June 13, 2024.
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.
FAQ
What is the current stock price of Precipio (PRPO)?
What is the market cap of Precipio (PRPO)?
