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) is a NASDAQ-traded healthcare biotechnology company focused on cancer diagnostics, and its news flow reflects both its operating activities and capital markets developments. The company’s stated mission is to address cancer misdiagnoses through diagnostic products and services that improve accuracy, laboratory workflow, and patient outcomes, and many of its announcements relate to progress toward that mission.
Investors following PRPO news can expect regular updates on the company’s pathology services division and products division. Precipio issues press releases when it files quarterly reports on Form 10-Q, summarizing revenue trends in its diagnostic services and product businesses, gross margin developments, and cash flow metrics. These releases often highlight performance in pathology services and product revenues, along with management commentary on operational efficiency and financial discipline.
Company news also covers product and technology milestones. Precipio has announced developments such as its BCR::ABL1 assay and a joint study with Memorial Sloan Kettering Cancer Center, describing study results, assay performance, and impacts on patient care and laboratory workflows. Additional product-related updates may discuss customer adoption, distributor activity, and the expansion of test panels and applications in customer laboratories.
Capital structure and corporate actions are another recurring theme in PRPO news. The company has issued releases about terminating its at-the-market Sales Agreement with A.G.P./Alliance Global Partners, entering into agreements with warrant holders for cash and cashless exercises, and repaying an advance from Change Healthcare. These updates provide context on share issuance, warrant activity, cash inflows, and the company’s efforts to maintain a clean balance sheet with limited debt.
Precipio also uses news releases to communicate about shareholder update calls, cybersecurity matters, and governance-related events. For example, it has announced quarterly shareholder calls, provided details on a limited-scope unauthorized access incident in its cloud file environment, and requested shareholder participation in voting to achieve quorum at its annual meeting. For investors and analysts, the PRPO news page offers a centralized view of these operational, financial, and corporate developments over time.
Precipio has secured a 4-year agreement to implement its HemeScreen™ technology with a new customer, anticipating revenues to reach approximately $250,000 in Q1-2023, a 15% increase from current levels. By year-end 2023, revenue is projected to exceed $1M, indicating a 60% growth. The CEO indicates this is the start of a growth phase, with existing clients showing increased utilization over time. This contract is expected to reduce the company’s burn rate and enhance prospects for future contracts, moving closer to profitability.
Precipio, Inc. (NASDAQ: PRPO) showcased its HemeScreen™ MPN Assay at the 2022 AMP conference, presenting a study with ~1000 patient samples that indicates superior accuracy compared to Sanger Sequencing. The study achieved over 99% concordance between the two technologies, highlighting HemeScreen's enhanced sensitivity (2-5% detection limit) versus Sanger's (10-15%). This innovative assay is anticipated to reduce misdiagnosis costs and streamline laboratory workflows. CEO Ilan Danieli expressed pride in the team’s achievements and the assay's positive impact on patient outcomes.
Precipio, Inc. (PRPO) will host a Q3-2022 shareholder update call on November 14th, 2022 at 5:00 PM ET, discussing updates on its core businesses. Participants can join via phone or pre-register for access. A replay will be available approximately 24 hours later. Precipio focuses on improving diagnostic accuracy in cancer treatment, leveraging collaborations with academic institutions. The press release includes forward-looking statements and advises that results may differ from expectations due to various risks, including those related to COVID-19.
On September 15, 2022, Precipio (NASDAQ: PRPO) announced a new distribution agreement for its HemeScreen platform, targeting a customer segment with over $100 million in market potential. This collaboration will expand Precipio's reach, as the distributor's sales team will promote HemeScreen to numerous healthcare accounts. The company aims for substantial growth in customer base and revenues, backed by this and previous distribution agreements, with expectations of increased inquiries and scheduled meetings with potential clients.
Precipio, Inc. (NASDAQ: PRPO) announces the appointment of Sharon Robins as Senior Director of Laboratory & Hospital Sales. Robins, with extensive experience from Qiagen, brings a proven track record of managing substantial revenues, including over $100M annually. This strategic hire aligns with the launch of HemeScreen in partnership with ThermoFisher, aiming for $10M in first-year revenues. The company emphasizes its commitment to improving cancer diagnostics and aims for robust growth in the upcoming year.
Precipio, Inc. (NASDAQ: PRPO) has launched its second-generation HemeScreen panels, streamlining cancer diagnostic processes. The new 1-step assay eliminates the previous 2-step confirmation, allowing same-day test results within about 3 hours. This upgrade not only accelerates turnaround time but also reduces bench work by 25%, saving laboratories time and costs. Preliminary discussions suggest strong customer interest in upgrading to this enhanced version, which has been clinically validated in Precipio’s certified lab. The firm aims to lead the market in cancer diagnostics.
Precipio, Inc. (NASDAQ: PRPO) is set to launch a nationwide sales effort for its HemeScreen product, utilizing over 250 sales representatives from AmerisourceBergen, ThermoFisher, and other distributors. With a market potential of approximately $0.5 billion, the company has appointed Toni-Ann Mills as Senior Director for Learning & Development to oversee the training of these sales teams. Mills, with over 20 years of experience in learning and development, aims to enhance the effectiveness of sales efforts and improve the product’s market presence.
Precipio, Inc. (NASDAQ: PRPO) has scheduled its Q2-2022 shareholder update conference call for August 15, 2022, at 5:00 PM EST. The call will provide insights into the company's core businesses and progress. Interested participants can join by calling 844-695-5519 or international callers at 1-412-902-6760. Pre-registration is available for a direct dial-in option. The update aims to address shareholder inquiries regarding Precipio's diagnostic innovations and collaborations in cancer diagnostics, emphasizing its commitment to improving diagnostic accuracy.
Precipio, Inc. (NASDAQ: PRPO) has entered into a distribution agreement with Fisher Healthcare, a division of Thermo Fisher Scientific, to expand the reach of its proprietary HemeScreen assays to laboratories across the U.S. This strategic partnership leverages Fisher Healthcare's extensive sales channels, allowing Precipio to enhance product accessibility and drive revenue growth. Precipio's HemeScreen technology is noted for its accuracy, reduced turnaround times, and cost-effectiveness, aligning with the needs of laboratories.
Precipio, Inc. (NASDAQ:PRPO) announced the adjournment of its 2022 Annual Meeting of Stockholders due to insufficient quorum, with only 49% participation from stockholders. The meeting has been rescheduled for July 5, 2022, at 10:00 a.m. EDT. Despite the adjournment, over 89% of received votes favored the proposed measures. Stockholders are encouraged to vote to enable the company to focus on growth. For inquiries regarding the meeting, stockholders can reach out via designated contact methods.
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