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 (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.
Precipio, Inc. (NASDAQ: PRPO) reported a substantial increase in preliminary unaudited revenues for Q2-2021, boasting a 65% year-over-year growth and a 29% increase compared to Q1-2021. This growth is attributed to the company's thriving Pathology services which saw a 60% YoY increase in case volume, and the expanding HemeScreen POL program. The latter has led to a recurring B2B revenue model with commitments from clients for up to four years, boosting operational efficiency and reducing cash burn. The company remains optimistic about continued revenue acceleration throughout the year.
Precipio, Inc. (NASDAQ: PRPO) has terminated its equity line financing with Lincoln Park Capital. The company states that this decision comes as a result of growing revenues, improved gross margins, and a strong cash position, eliminating the anticipated need for further capital raises in the near future. CEO Ilan Danieli expressed gratitude for Lincoln Park's support and noted that the company is now well-positioned for growth without relying on additional funding for at least the next 24 months.
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