Prophase Labs Inc - PRPH STOCK NEWS

ProPhase Labs (NASDAQ: PRPH) has announced the pricing of its underwritten public offering of 4,170,000 shares of common stock at $0.72 per share, aiming to raise approximately $3 million in gross proceeds before deducting underwriting discounts and offering expenses. The company has granted underwriters a 45-day option to purchase up to an additional 625,500 shares. The offering is expected to close on November 12, 2024. ProPhase plans to use the proceeds for working capital, general corporate purposes, capital expenditures, product development, and potential acquisitions. ThinkEquity is serving as the sole book-running manager for the offering.

ProPhase Labs (NASDAQ: PRPH) has announced plans for an underwritten public offering of common stock and/or pre-funded warrants. The company will grant underwriters a 45-day option to purchase up to an additional 15% of shares to cover over-allotments. ThinkEquity is serving as the sole book-running manager. Proceeds will be used for working capital, general corporate purposes, capital expenditures, product development, and potential acquisitions within and outside the diagnostic services, genomics, and consumer products industry. The offering will be conducted under a shelf registration statement filed with the SEC.

ProPhase Labs announced the launch of DNA Complete, offering comprehensive whole genome sequencing with health, wellness, and ancestry insights. The service includes advanced bioinformatics, genetic counseling, and a subscription model. Additionally, they introduced DNA Expand, allowing users to enhance existing DNA ancestry data with 50x more information through a $49.95 annual subscription.

The company appointed Stu Hollenshead, former Barstool Sports executive, to lead marketing efforts and plans an influencer-driven campaign. The service targets a market of over 26 million people who have undergone genetic ancestry testing, with DNA Expand specifically focusing on existing ancestry test customers.

ProPhase Labs (NASDAQ: PRPH), a next generation biotech, genomics, and diagnostics company, has announced its participation in The ThinkEquity Conference on October 30, 2024, at the Mandarin Oriental Hotel in New York. Ted Karkus, CEO and Chairman of the Board of Directors, will present at 1PM ET on October 30th.

The conference is known for featuring numerous company presentations, attracting hundreds of attendees, and facilitating one-on-one meetings between companies and investors. ProPhase's presentation will be live-streamed, and interested investors can register to attend and schedule one-on-one meetings throughout the day.

This event provides ProPhase Labs with a valuable opportunity to connect with potential investors and showcase their latest developments in the biotech, genomics, and diagnostics sectors.

ProPhase Labs (NASDAQ: PRPH) has announced significant progress across several key projects. Pharmaloz Manufacturing Inc. (PMI) is expected to generate approximately $16-17 million in revenue and $6-7 million in pre-tax earnings for 2025. ThinkEquity has identified over 70 potential acquirers for PMI, with a goal to close the sale in Q1 2025. The company projects PMI's value to exceed $40 million.

ProPhase has initiated strategic discussions for its BE-Smart Esophageal Cancer Test with multi-billion dollar cancer diagnostic companies. A partnership could potentially yield an upfront payment of $30-50 million, with additional milestones and long-term royalty payments.

The company anticipates multiple liquidity events in H1 2025, including the sale of PMI, potential partnership for the BE-Smart test, and receivables collection efforts expected to generate $20-25 million over the next six months.

ProPhase Labs (NASDAQ: PRPH), a next-generation biotech, genomics, and diagnostics company, has announced its participation in the Virtual Investor Summit Microcap Event on August 20th, 2024. The company will deliver a presentation at 1:00 P.M. ET and be available for one-on-one meetings throughout the day.

The event, themed around 50 micro-cap companies with catalysts and/or strong market performance, offers investors an opportunity to engage with ProPhase Labs directly. The presentation will be accessible via webcast, allowing remote participation. This summit provides a platform for in-depth discussions with top investors in the microcap space and includes a live Q&A session.

ProPhase Labs (NASDAQ: PRPH) reported financial results for Q2 2024, highlighting strategic initiatives expected to drive significant revenue growth in upcoming quarters. Key developments include:

1) Pharmaloz Manufacturing is adding new customers and exploring strategic options, including a potential sale.

2) Nebula Genomics is launching a major Direct-To-Consumer initiative with a revamped product.

3) The company is preparing for Equivir commercialization and advancing its BE-Smart Esophageal Cancer Test.

4) Project ZenQ-AI is progressing, leveraging the company's genomics database for cancer research.

Q2 2024 net revenue was $2.5 million, down from $13.2 million in Q2 2023, with a net loss of $6.2 million. The company anticipates significant sequential growth in quarterly revenues beginning in Q3 2024.

ProPhase Labs (NASDAQ: PRPH) has announced a collaboration with Forward Healthcare Consultants (FHC) to commercialize its BE-Smart esophageal cancer test. FHC will focus on clinical validation, market access, coverage, pricing, and coding. The partnership aims to leverage FHC's extensive network of physician relationships to drive commercialization success.

CEO Ted Karkus expressed excitement about the collaboration, highlighting the potential for BE-Smart to become a billion-dollar-valued cancer test. Dr. Irfan Shafique, President of FHC, emphasized the test's importance in filling a gap in esophageal cancer detection. FHC's consultants bring decades of experience in commercializing healthcare technologies and have previously helped companies achieve market capitalizations in the billions.

ProPhase Labs Inc. (NASDAQ: PRPH) has announced that it will present its second quarter 2024 financial results on August 14, 2024, at 11:00 am EDT through a virtual conference call hosted by Renmark Financial. The company will issue a press release detailing the results prior to the call. Stakeholders, investors, and other interested parties are invited to register and attend this live event. A replay of the call will be available on the company's investor website after the event. To ensure smooth connectivity, participants are advised to use the latest version of Google Chrome when accessing the registration link.