Prophase Labs Inc - PRPH STOCK NEWS

COMSovereign Holding Corp. (NASDAQ: COMS, COMSP) announced the appointment of Bill White as an independent director and Chair of the Audit Committee, effective April 27, 2023. White brings over 30 years of experience in financial management and operations, previously serving as CFO for ProPhase Labs and Intellicheck, among others. His extensive background includes expertise in managing growth, strategic planning, and cost management. CEO David Knight emphasized White's alignment with the company's growth plans and the importance of enhancing finance operations. COMSovereign is focusing on its core wireless connectivity offerings, aiming to leverage its unique technology and intellectual property for revenue growth.

ProPhase Labs, Inc. (NASDAQ: PRPH) will present at the Planet MicroCap Showcase: VEGAS 2023 on April 26, 2023, at 10:30 am PST (1:30 pm EST). CEO Ted Karkus will lead the presentation and answer questions afterward. Interested parties can access the live event via the provided webcast link.

For those attending, 1x1 investor meetings can be scheduled at the conference venue in Las Vegas. ProPhase Labs specializes in diagnostics, genomics, and biotech, leveraging CLIA lab services for whole genome sequencing and traditional molecular lab services, including COVID-19 testing. The company operates several subsidiaries focused on diverse health and biotechnology solutions.

ProPhase Labs (NASDAQ: PRPH) reported a significant financial turnaround for the year ending December 31, 2022, achieving net revenues of $122.6 million, up 55% from $79.0 million in 2021. The company also posted a net income of $18.5 million ($1.17/share) compared to $6.3 million ($0.41/share) the previous year. Adjusted EBITDA rose to $38.6 million. A $5.9 million charge related to bad debts was noted, stemming from halted HRSA reimbursements for uninsured patients. ProPhase acquired the rights to develop several promising therapeutics and is focusing on global expansion opportunities with the BE-Smart cancer test. A conference call is scheduled for March 28, 2023, to discuss results and future plans.

ProPhase Labs, Inc. (NASDAQ: PRPH) will hold a conference call on March 28, 2023, at 11:00 a.m. Eastern to discuss its 2022 financial results. CEO Ted Karkus will host the call, which will include a Q&A session.

Participants can register for the call via a provided link, and dial-in options are available for those without internet access. A replay will be available shortly after the call.

ProPhase specializes in diagnostics, genomics, and biotech, leveraging CLIA lab services for genome sequencing, and operates a contract manufacturing subsidiary, Pharmaloz.

ProPhase Labs, Inc. (NASDAQ: PRPH) has announced a new stock repurchase program of up to $6 million. This decision follows the expiration of the previous buyback program in February 2023. Over the last six months, ProPhase has retired 1.2 million shares. The new buyback will occur over the next six months and will depend on various factors, including market conditions. CEO Ted Karkus emphasized the company's strong execution over the past two years, highlighting growth in subsidiaries such as Pharmaloz and Nebula Genomics with expected revenue increases. The development of the BE-Smart Esophageal Cancer Test is also progressing well, with a potential launch later this year.

ProPhase Labs, Inc. (NASDAQ: PRPH) announced a significant presentation at the United States and Canadian Academy of Pathology (USCAP) Annual Meeting from March 11-16, 2023, in New Orleans, LA. The presentation will showcase the BE-Smart Test, which detects precancerous conditions in Barrett's esophagus, a notable concern given the rapid rise of esophageal adenocarcinoma in the U.S. The senior author, Dr. Andrew Cannon from the Mayo Clinic, will present findings that demonstrate the BE-Smart Test's effectiveness with over 99% accuracy. The test aims to facilitate early cancer detection, potentially reducing late-stage diagnoses, with commercialization plans underway.

ProPhase Labs (NASDAQ: PRPH) announced a significant update regarding its subsidiary, Nebula Genomics, which has launched a new whole genome sequencing (WGS) test priced at only $249. This price is notably lower than competing services that range from $400 to $1100, positioning Nebula as a leading player in the direct-to-consumer genomics market. The WGS service decodes approximately 6.4 billion base pairs and offers over 300 personalized reports based on genetic profiles. Furthermore, Nebula's state-of-the-art laboratory in New York enhances service efficiency and accuracy, showcasing ProPhase's commitment to accessible personal genomics.