Prophase Labs Inc Stock Price, News & Analysis

ProPhase Labs, Inc. (NASDAQ: PRPH) announced the initiation of a randomized clinical trial for Equivir, aiming for commercial launch in Q4 2023. Conducted by Vedic Lifesciences at 12 sites, enrollment starts March 2023. CEO Ted Karkus emphasizes the potential of Equivir to improve health outcomes globally. Following a licensing deal in Q2 2022, ProPhase has developed Equivir's formulation and marketing plans. The trial is expected to conclude in Q3 2023, with Equivir designed to block viral entry into cells, leveraging the company's extensive retail partnerships for distribution.

ProPhase Labs (NASDAQ: PRPH) has announced that its diagnostic test for esophageal cancer screening, the BE-Smart assay, was featured in the International Journal of Molecular Science. The assay aims to address the limitations of current diagnostic protocols, demonstrating over 99% sensitivity and specificity in identifying high-risk cancerous protein expressions.

The company plans to commercialize the BE-Smart test within 12 to 18 months, targeting a multi-billion-dollar market. CEO Ted Karkus emphasized its potential to improve early detection of precancerous cells, significantly enhancing patient outcomes.

ProPhase Labs, Inc. (NASDAQ: PRPH) recently announced business updates regarding its subsidiary, Pharmaloz Manufacturing. The company is set to acquire new equipment to double pouch packaging capacity by Q2 2023 and aims for a total capacity increase of 200% by 2024. This expansion will be funded through internal cash flow, requiring no capital from the parent company. In 2022, Pharmaloz took on two new full-production customers and launched seven new products. Furthermore, negotiations are underway with potential clients that could significantly boost production. CEO Ted Karkus emphasized the company's growth strategy and solid partnerships with major retailers.

ProPhase Labs (NASDAQ: PRPH) provided a progress report on its cancer co-therapy program, Linebacker-1 (LB-1), developed by its subsidiary ProPhase BioPharma. LB-1 targets PIM kinase receptors and is designed to enhance traditional chemotherapy effectiveness while reducing toxicity. The company collaborated with Dana-Farber Cancer Institute to explore effective combinations with LB-1, focusing on various cancer types. Initial studies show promising results, with plans for animal studies to complete by Q2 2023 and IND application submission targeted for mid-2024. Development costs are estimated between $3 million and $5 million.

ProPhase Labs (NASDAQ: PRPH) has successfully acquired exclusive rights to the BE-Smart Esophageal Pre-Cancer diagnostic test from Stella Diagnostics for approximately $4.6 million. This test aims to enhance early detection of esophageal cancer and is expected to reduce unnecessary endoscopies. The BE-Smart test has shown over 99% sensitivity and specificity in preliminary trials. ProPhase anticipates commercializing the test within 18 months and targets reimbursement rates between $1,000 - $3,000, addressing a multi-billion dollar market in the U.S.

ProPhase Labs (NASDAQ: PRPH) has entered into an asset purchase agreement to acquire world-wide exclusive rights to the BE-Smart Esophageal Pre-Cancer diagnostic test from Stella Diagnostics for approximately $4.5 million in cash and stock. An additional $2 million may be issued based on future revenue milestones. The BE-Smart test, showing over 99% sensitivity and specificity, aims for early esophageal cancer detection and could reduce unnecessary endoscopies. The acquisition is pending Stella shareholders' approval and is expected to close in early January 2023.

ProPhase Labs, Inc. (NASDAQ: PRPH) announced its presentation at the Planet MicroCap Showcase: VIRTUAL 2022 on December 7, 2022, at 2:30 PM EST, hosted by CEO Ted Karkus. The event will be accessible via a live webcast. ProPhase is a diversified diagnostics, genomics, and biotech company, leveraging CLIA lab services for whole genome sequencing and traditional molecular testing, including COVID-19. The company aims to expand its clinical and genomics testing capabilities, while also focusing on developing new drugs and collaborations in the medical field.

ProPhase Labs (NASDAQ: PRPH) reported strong Q3 2022 results, achieving a record net revenue of $24.2 million, marking a 155% increase year-over-year. The company also noted a net income of $1.0 million, a turnaround from a $4.0 million loss in Q3 2021. Adjusted EBITDA stood at $6.3 million, a significant improvement from a loss of $1.3 million in the previous year. Cash and equivalents totaled $26.5 million. The company is expanding its services, collaborating with G42 Healthcare, and developing a cancer treatment with Dana-Farber Cancer Institute.

ProPhase Labs, Inc. (NASDAQ: PRPH) announced a two-year collaboration with Dana-Farber Cancer Institute to develop Linebacker-1 (LB-1), a small molecule aimed at enhancing chemotherapy. This partnership will explore LB-1's tumoricidal effects when co-administered with traditional chemotherapy agents in vitro and in vivo. The project has a budget of $2-5 million over 18 months, targeting preclinical studies and a Phase 1 human clinical trial. ProPhase expects LB-1 to have multi-billion-dollar potential in oncology.