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Overview of Precipio Inc
Precipio Inc is a distinguished healthcare solutions company dedicated to cancer diagnostics and personalized medicine. At the intersection of molecular diagnostics, clinical laboratory innovation, and personalized care, the company delivers advanced diagnostic solutions that empower oncologists in making precise medical decisions. Its strategic focus on mitigating the challenges of cancer misdiagnoses through innovative diagnostic tests and reagents positions it as a critical player in the healthcare industry.
Advanced Diagnostic Capabilities
The company develops and offers cutting-edge diagnostic products that not only address complex oncology cases but also integrate the latest research findings from renowned medical research institutions. By combining academic research with practical clinical laboratory expertise, Precipio Inc ensures that its diagnostic panels and molecular tests provide highly accurate results. This approach leverages both traditional histopathology and advanced molecular techniques to deliver comprehensive assessments that aid in early and precise cancer detection.
Operational Excellence
Operating under strict regulatory standards, including those set forth by Clinical Laboratory Improvement Amendments regulations, Precipio Inc maintains robust laboratory operations in multiple locations. Its well-equipped laboratories, situated in strategic regions, provide essential blood cancer diagnostics for office-based oncologists across various states. This distributed laboratory model demonstrates the company’s commitment to accessibility and operational reliability, ensuring that state-of-the-art diagnostic services are available to a broad patient demographic.
Integration of Academia and Clinical Practice
One of the uniquely defining aspects of Precipio Inc is its close collaboration with leading academic and research institutions. This synergy is evident in the company’s partnership with world-renowned pathologists and institutions dedicated to advancing cancer research. Such integration not only reinforces the technical accuracy of its diagnostic processes but also keeps the company at the forefront of breakthroughs in personalized medicine. The continuous refinement of diagnostic techniques through academic input highlights the company’s dedication to scientific rigor and excellence.
Innovative Diagnostic Technologies
Precipio Inc offers a portfolio of diagnostic products that include innovative platforms for cancer screening and molecular analysis. Its proprietary test offerings are developed through rigorous research and are designed to identify cancer markers with exceptional precision. This focus on innovation directly addresses the widespread challenge of cancer misdiagnoses, providing clinicians with crucial data and insights. Such efforts ensure that each diagnostic test is both reliable and aligned with modern scientific advancements, facilitating improved patient care and outcomes.
Market Position and Business Model
The company generates its revenue predominantly through services rendered to third-party payers, demonstrating a business model that is deeply integrated with the institutional healthcare ecosystem. By offering laboratory tests that are reimbursable through established insurance frameworks, Precipio Inc effectively bridges the gap between medical innovation and clinical implementation. Its business strategy revolves around the deployment of advanced diagnostic tests within established healthcare networks, thereby enhancing the overall quality of oncology care.
Expertise, Quality, and Trust
Precipio Inc stands out for its commitment to delivering reliable, expert-based diagnostics, ensuring that its partners in healthcare receive the highest quality of analytical support. The company’s precision in diagnostic testing is underpinned by continuous quality improvement efforts and a dedication to scientific validation. Through this commitment, the company fosters trust and credibility among clinicians and healthcare professionals, ultimately aiding in the advancement of personalized medicine as a standard of care.
- Advanced Molecular Diagnostics: Integrating sophisticated lab techniques with clinical expertise.
- Personalized Medicine: Tailoring diagnostic solutions to support individualized patient care.
- Regulatory Compliance: Operating under strict clinical laboratory standards.
- Academic Partnerships: Collaborating with leading research institutions for continuous advancement.
Overall, Precipio Inc offers an intricate blend of innovative diagnostic technologies and robust clinical laboratory operations that enable oncologists to make informed treatment decisions. Its ability to harness academic research and translate it into practical diagnostic applications places the company at a crucial juncture in the evolution of cancer care, providing a comprehensive, accessible, and accurate diagnostic service that many in the healthcare field rely upon.
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.
Precipio (NASDAQ: PRPO) announces the resignation of CFO Carl Iberger, effective March 21, 2022, citing family time as the reason. Matt Gage, the current Director of Financial Reporting and Analysis, has been appointed as the Interim CFO. Gage, with over 30 years of finance experience, including 25 years in publicly traded companies, is expected to ensure a smooth transition. The leadership change comes as Iberger reflects on a successful six-year tenure, emphasizing a positive outlook for Gage's contribution to the company's financial management.
Precipio (NASDAQ: PRPO) reported a 45% increase in revenues for 2021, totaling $8.9 million, driven primarily by pathology diagnostic testing. Q4 revenues reached $2.4 million, a 25% rise from the previous year. The HemeScreen product line is expected to contribute to further growth, with annualized contracts exceeding $1.6 million. Despite challenges from COVID-19, the company is optimistic about 2022, predicting significant revenue growth across its diagnostics segment, aiming to reduce cash burn and improve financial stability.
Precipio, Inc. (NASDAQ: PRPO) has announced that its HemeScreen RUO assay has received approval from the New York State Department of Health (NY DOH). This allows physician-owned laboratories (POLs) in New York to apply to run HemeScreen as a laboratory-developed test (LDT). The first customer, New York Cancer & Blood Specialists, estimates a potential for seven-figure revenues from HemeScreen, along with a Florida-based customer also utilizing the assay. This marks a significant milestone for Precipio, enhancing its market presence and potentially reducing cash burn.
Precipio, a specialty cancer diagnostics company (NASDAQ: PRPO), will host its Q3-2021 update conference call on November 15, 2021, at 5:00 PM ET. The call aims to provide updates on the company’s core businesses and can be accessed by calling 844-695-5519 or through pre-registration at their website. Precipio collaborates with renowned institutions like Yale and Dana-Farber to improve diagnostic accuracy in cancer care. Replay access will be available 24 hours post-call via their Investors page.
Precipio, Inc. (NASDAQ: PRPO) has signed a multi-year agreement with American Oncology Network (AON) to implement HemeScreen technology in AON's laboratory in Fort Myers, Florida. This partnership allows AON, the largest Physician Owned Laboratory, to reduce diagnostic turnaround times from 2-4 weeks to 1-4 days, significantly improving patient care. The deal is expected to generate seven-figure annual revenue for Precipio.
Both companies aim to enhance oncology diagnostics, with AON serving around 100,000 patients annually.
Precipio, Inc. (NASDAQ: PRPO) has rescheduled its Q2 2021 update call from August 23 to August 26 at 5:00 PM ET due to a scheduling conflict. Interested participants can access the call by calling 844-695-5519 or registering in advance for a direct dial-in number. The call will allow for pre-submitted questions via email. A replay will be available 24 hours post-call on Precipio's investors page.
Precipio focuses on enhancing diagnostic accuracy through collaborations with esteemed cancer research institutions.
Precipio, a specialty cancer diagnostics company, announced it will host its Q2-2021 update call on August 23, 2021, at 5:00 PM ET. The call will cover key topics concerning its core businesses. A prior communication incorrectly referenced 'year-end' instead of 'Q2-2021 Company Update.' Access to the call can be obtained by dialing 844-695-5519, or pre-registering online for a direct dial-in. Questions can be submitted in advance via email. The company aims to enhance diagnostic accuracy through collaborations with leading academic institutions.
Precipio, Inc. (NASDAQ: PRPO) is scheduled to host its Q2-2021 conference call on August 23, 2021, at 5:00 PM ET. The call will provide updates on the company's core business operations. Interested participants can join via phone or pre-register online for direct access. The call will include a question-and-answer session, and listeners can submit inquiries in advance. A replay of the call will be available on the company's website within 24 hours. Precipio specializes in cancer diagnostics, aiming to improve diagnostic accuracy and reduce misdiagnosis.
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