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ProPhase Labs, Inc. (PRPH) is a diversified natural health medical science company that specializes in providing a wide range of diagnostic and consumer products. The company's operations are divided into two primary segments: Diagnostic Services and Consumer Products.
The Diagnostic Services segment offers COVID-19 diagnostic testing to a broad range of customers across the United States, including health plans, third-party payers, and government organizations. This segment is focused on delivering timely and accurate diagnostic information, critical during the ongoing pandemic and beyond.
The Consumer Products segment is engaged in the research, development, manufacture, distribution, marketing, and sale of over-the-counter (OTC) healthcare products and dietary supplements within the United States. In addition to these offerings, ProPhase Labs also provides personal genomics products and services, enabling consumers to gain insights into their genetic makeup.
ProPhase Labs is committed to advancing health and wellness through innovative products and services. Recent achievements include the development of the BE-Smart Esophageal Cancer Test, leveraging the company's AI platform and extensive genomics database. This test represents a significant step forward in cancer diagnostics and showcases the company's commitment to leveraging advanced technologies for improved healthcare outcomes.
Moreover, ProPhase Labs has projects such as Project ZenQ-AI and Equivir, which underline the company's focus on continuous research and innovation. These initiatives highlight ProPhase Labs' role in pushing the boundaries of medical science and consumer health products.
Financially, ProPhase Labs maintains a solid position, with ongoing projects and partnerships further strengthening its market presence. The company actively communicates with its retail investors through multiple channels, ensuring transparency and engagement with its stakeholders.
For more information, visit ProPhase Labs.
ProPhase Labs (NASDAQ: PRPH) announced a $6 million stock repurchase program, effective three business days post its quarterly earnings release on August 12, 2022. The program allows for repurchases over six months via open market or negotiated transactions. CEO Ted Karkus emphasized this move reflects confidence in the company's multi-faceted strategy and aims to enhance shareholder value. ProPhase BioPharma plans to begin animal studies for its LB-1 cancer therapy with an estimated $5 million R&D budget, expecting to generate net income exceeding this amount in Q2 2022.
ProPhase Labs, Inc. (NASDAQ: PRPH) announced the grant of an inducement stock option to Dennis Grishin, its new Chief Scientific Officer, allowing him to purchase up to 250,000 shares at an exercise price of $13.00 per share. This option vests 50% immediately and the remainder in annual installments over two years, with a total exercisable period of 7 years. This grant complies with Nasdaq Rule 5635(c)(4) and was not part of the stockholder-approved equity plan. ProPhase continues to advance genomics testing and diagnostics services.
ProPhase Labs reports continued quarterly growth in revenues and earnings for Q2 2022, with projections for Q3 2022 also showing expansion. The company has executed a licensing agreement for two patented small molecule inhibitors, LB-1 and LB-2, with Global BioLife, targeting cancers and inflammatory diseases. Significant progress is noted in its genomics business, including negotiations for a strategic partnership to enhance genomic sequencing. ProPhase also plans to expand its CLIA lab for traditional clinical testing.
ProPhase Labs (NASDAQ: PRPH) announced a live webcast on July 21, 2022, at 11:30 a.m. EST, hosted by CEO Ted Karkus. The session will cover the latest developments within ProPhase and its subsidiaries, including ProPhase Diagnostics, which offers COVID-19 testing and other clinical services, and ProPhase Precision Medicine, focusing on genomics testing. Participants can register here.
ProPhase Labs, Inc. (NASDAQ: PRPH) has announced the formation of a new subsidiary, ProPhase BioPharma, Inc. (PBIO), to focus on drug licensing and development. The company has entered into a licensing agreement with Global BioLife, Inc. for its antiviral compounds, Equivir and Equivir G, which are designed to combat viral outbreaks. ProPhase will leverage its extensive distribution network to commercialize Equivir as an OTC supplement and pursue FDA approval for Equivir G as a prescription antiviral. Human clinical trials for Equivir are set to begin soon.
ProPhase Labs (NASDAQ: PRPH) is expanding its in-house clinical testing capabilities by partnering with healthcare diagnostics innovators. The company has procured state-of-the-art equipment and executed a new lease for additional space at its Garden City, NY headquarters. Plans are underway for a new genomics laboratory, featuring Next Generation Sequencing for Whole Genome Sequencing and genetic testing. CEO Ted Karkus highlighted the strategic importance of these expansions in providing tailored clinical diagnostics and enhancing genetic research capabilities.
ProPhase Labs (NASDAQ: PRPH) announced that CEO Ted Karkus will present at the H.C. Wainwright 2022 Global Investment Conference from May 23-26, 2022. The presentation will be available on-demand on May 24, 2022 at 7:00 A.M. ET for registered attendees.
ProPhase Labs offers a range of diagnostics and genomics services, including CLIA lab services and COVID-19 testing. The company plans to expand its services to include traditional clinical and genomics testing, as well as enhance its consumer offerings in whole genome sequencing.
ProPhase Labs, Inc. (NASDAQ: PRPH) reported record net revenues of $47.5 million for Q1 2022, a 211% increase from Q1 2021. Net income soared to $12.5 million, or $0.81 per share, representing a remarkable 1082% year-over-year growth. The company declared a special cash dividend of $0.30 per share, payable on June 3, 2022. ProPhase performed 377,000 diagnostics tests, up from 113,000 tests in the same quarter last year. Cash and marketable securities totaled $29.4 million, supporting future expansions.
ProPhase Labs (NASDAQ: PRPH) announced that Chairman and CEO Ted Karkus will present at the Spring Into Action – Best Ideas Virtual Investor conference from May 17-20, 2022. Karkus is scheduled to speak on May 17 at 1:00 PM ET. The conference will include opportunities for one-on-one meetings with investors. ProPhase Labs focuses on diagnostics and genomics, offering services like COVID-19 testing and whole genome sequencing. Interested parties can register for the event and schedule meetings through the provided links.
ProPhase Labs, Inc. (Nasdaq: PRPH) has appointed Bill White as the new Chief Financial Officer, effective May 23, 2022. Mr. White brings over 30 years of experience, previously serving as CFO of Intellicheck, Inc. and co-founding FocusMicro, Inc., where he grew revenues to over $36 million in five years. He will replace Monica Brady, who will continue with the company in a different capacity. White has been awarded a stock option for 400,000 shares with an exercise price of $6.74 per share. This appointment is seen as a strategic move to enhance the company’s financial management and growth.
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