Welcome to our dedicated page for Precipio news (Ticker: PRPO), a resource for investors and traders seeking the latest updates and insights on Precipio stock.
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.
Precipio, Inc. (NASDAQ: PRPO) has launched its second-generation HemeScreen panels, streamlining cancer diagnostic processes. The new 1-step assay eliminates the previous 2-step confirmation, allowing same-day test results within about 3 hours. This upgrade not only accelerates turnaround time but also reduces bench work by 25%, saving laboratories time and costs. Preliminary discussions suggest strong customer interest in upgrading to this enhanced version, which has been clinically validated in Precipio’s certified lab. The firm aims to lead the market in cancer diagnostics.
Precipio, Inc. (NASDAQ: PRPO) is set to launch a nationwide sales effort for its HemeScreen product, utilizing over 250 sales representatives from AmerisourceBergen, ThermoFisher, and other distributors. With a market potential of approximately $0.5 billion, the company has appointed Toni-Ann Mills as Senior Director for Learning & Development to oversee the training of these sales teams. Mills, with over 20 years of experience in learning and development, aims to enhance the effectiveness of sales efforts and improve the product’s market presence.
Precipio, Inc. (NASDAQ: PRPO) has scheduled its Q2-2022 shareholder update conference call for August 15, 2022, at 5:00 PM EST. The call will provide insights into the company's core businesses and progress. Interested participants can join by calling 844-695-5519 or international callers at 1-412-902-6760. Pre-registration is available for a direct dial-in option. The update aims to address shareholder inquiries regarding Precipio's diagnostic innovations and collaborations in cancer diagnostics, emphasizing its commitment to improving diagnostic accuracy.
Precipio, Inc. (NASDAQ: PRPO) has entered into a distribution agreement with Fisher Healthcare, a division of Thermo Fisher Scientific, to expand the reach of its proprietary HemeScreen assays to laboratories across the U.S. This strategic partnership leverages Fisher Healthcare's extensive sales channels, allowing Precipio to enhance product accessibility and drive revenue growth. Precipio's HemeScreen technology is noted for its accuracy, reduced turnaround times, and cost-effectiveness, aligning with the needs of laboratories.
Precipio, Inc. (NASDAQ:PRPO) announced the adjournment of its 2022 Annual Meeting of Stockholders due to insufficient quorum, with only 49% participation from stockholders. The meeting has been rescheduled for July 5, 2022, at 10:00 a.m. EDT. Despite the adjournment, over 89% of received votes favored the proposed measures. Stockholders are encouraged to vote to enable the company to focus on growth. For inquiries regarding the meeting, stockholders can reach out via designated contact methods.
Precipio, Inc. (NASDAQ: PRPO) announced the appointment of Keith Meadors as Senior Vice President of its Products Division on June 13, 2022. Meadors brings over 30 years of executive experience in healthcare, most recently with Fresenius Kabi, where he expanded product offerings significantly. He has a history of driving revenue growth and product visibility. CEO Ilan Danieli expressed enthusiasm about Meadors’ expertise, highlighting its importance for the company’s potential. Precipio focuses on specialty cancer diagnostics with proprietary products.
Precipio, Inc. (PRPO) announced receiving CE-IVD approval for its HemeScreen® reagents in the EU, enabling sales across the UK and 27 EU countries. This certification validates that the HemeScreen panels meet essential European medical device requirements. The approved panels cover over 70% of hematologic malignancies, aiming to simplify workflows and deliver faster results for hematology/oncology labs. CEO Ilan Danieli emphasized this as a critical step towards expanding into new markets, enhancing revenue opportunities and addressing common laboratory challenges.
Precipio (NASDAQ: PRPO) has announced that the American Oncology Network (AON) has validated and will adopt its proprietary IV-Cell® culture media for use in clinical cytogenetics laboratories. This marks a significant step in Precipio's strategic business model as a specialty cancer diagnostics company, showcasing its ability to address unmet market needs with innovative products. AON's adoption of IV-Cell follows its previous launch of HemeScreen® testing with Precipio, highlighting cross-selling potential and operational efficiencies aimed at enhancing diagnostic accuracy.
Precipio, a specialty cancer diagnostics company, announced its participation in the Executive War College, taking place from April 26-28, 2022, in New Orleans. The company's innovative diagnostic platform, HemeScreen, was selected for presentation to laboratory executives. This endorsement showcases the technology's potential to improve clinical outcomes and laboratory efficiency. The presentation will occur on April 27 at 1:45 PM, with management available for discussions. CEO Ilan Danieli highlighted the importance of HemeScreen in enhancing diagnostic accuracy and patient care.
Precipio, Inc. (NASDAQ: PRPO) will host its Q4-2021 and year-end shareholder update call on April 4th, 2022, at 5:00 PM ET. This call aims to provide updates on the company’s core businesses. Interested participants can access the call by dialing 844-695-5519 or registering online for a direct dial-in number. Questions can be submitted in advance via email. A replay will be available on Precipio's investors page approximately 24 hours post-call. Precipio focuses on improving diagnostic accuracy in cancer treatment.
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