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. reports developments from its specialty cancer diagnostics business, which focuses on diagnostic products and services for cancer, including hematologic malignancies. Company updates commonly address performance in the Pathology Services Division and Products Division, customer and laboratory workflow trends, shareholder update calls, and balance sheet actions tied to debt, warrants, and common-stock financing arrangements.
Precipio news also covers its proprietary diagnostic technologies, including the Bloodhound BCR::ABL1 assay for Chronic Myeloid Leukemia, study publications, scientific meeting presentations, and collaborations involving clinical laboratories and cancer centers. Operational disclosures may include cybersecurity response, service continuity, and the company’s use of laboratory-developed technologies that are validated clinically and commercialized for the broader laboratory market.
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Precipio, Inc. (NASDAQ: PRPO) reported Q1-2023 product revenues of approximately $0.76M, exceeding the combined revenues of $0.66M from Q3 and Q4 of 2022. This marks a notable increase, achieving over 50% of the total product revenues for the entire year of 2022, which were $1.4M. The annualized run rate currently stands at $3M, more than doubling 2022's total revenues. The growth is attributed to the company’s successful strategy of converting prospects into signed customers. The CEO, Ilan Danieli, highlighted that consistent revenue growth will lead to reduced cash burn and a path towards profitability. It is crucial to note that these figures are preliminary and unaudited, with complete financials expected by May 15.