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Precipio, Inc. (PRPO) is a leading cancer diagnostics reference laboratory dedicated to advancing diagnostic accuracy and personalized medicine. The company bridges the gap between academia and oncology by collaborating with world-renowned pathologists at the Yale School of Medicine. Through this partnership, Precipio ensures that oncologists have access to the most accurate and expert cancer diagnostics available, ultimately aiming to improve patient care.
Precipio focuses on addressing the pervasive issue of cancer misdiagnoses by developing innovative diagnostic products, reagents, and services. Its Clinical Laboratory Improvement Amendments (CLIA) certified laboratories, located in New Haven, Connecticut, and Omaha, Nebraska, provide essential blood cancer diagnostics to office-based oncologists across the United States.
The company stands out in the oncology diagnostic laboratory market with its unique products, HemeScreen and IV-Cell. These technologies are at the forefront of molecular diagnostics and stem from cutting-edge research and a continuous commitment to refining personalized medicine.
Precipio generates the majority of its revenue from third-party payers, ensuring a steady financial base. Recent achievements include the company’s anticipation that current cash levels are sufficient to reach breakeven, highlighting a strong financial outlook. Additionally, Precipio has secured an important first order for its IV-Cell product from a major Japanese laboratory, further expanding its global influence.
Upcoming events include a conference call on November 20, 2023, at 5:00 PM EST, where the company will discuss its progress and future strategies. Another call is scheduled for April 1, 2024, at 5:00 PM EDT to address recent financial developments, including a loan designed to supplement temporary cash flow deficits caused by external cybersecurity issues.
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