Precipio, Inc. - PRPO STOCK NEWS

Precipio has launched the HemeScreen® Anemia Panel, a diagnostic tool aimed at identifying molecular genetic errors related to anemia of unknown cause. This rapid blood test assists physicians in detecting potentially fatal acute leukemia, offering same-day results.

The panel addresses a significant clinical challenge, with anemia impacting approximately 1.62 billion people globally. It enhances diagnostic accuracy, potentially increasing revenues for Oncology Physician Office Laboratories (POLs) by 25% based on patient volume.

Precipio, Inc. (PRPO) will host its Q1-2021 corporate update call on May 20, 2021, at 5:00 PM ET, covering updates on core businesses. Participants can join via phone or by pre-registering for a direct dial-in. Questions can be submitted in advance via email. A replay will be accessible 24 hours after the call on the company's Investors page. Precipio aims to reduce misdiagnosis through partnerships with leading institutions like Yale and Harvard, enhancing diagnostic accuracy and patient care standards. For more information, visit www.precipiodx.com.

Precipio (NASDAQ: PRPO) has launched a new Acute Myeloid Leukemia (AML) HemeScreen panel that provides genetic testing results in approximately four hours. This rapid diagnostic test aims to enhance patient care by allowing physicians to select effective treatments swiftly. The AML panel is projected to boost revenues for Oncology Physician Office Laboratories (POLs) by around 10%, depending on patient volume. The introduction of this panel highlights the growing utility of rapid genetic testing in clinical settings.

Precipio, Inc. (NASDAQ: PRPO) announced the launch of its COVID-19 rapid antibody test, now available for POC healthcare providers with an Amazon business account. The test, which detects both IgG and IgM antibodies, received emergency use authorization (EUA) from the FDA and is exclusively distributed on Amazon. This antibody test helps identify those who have developed antibodies post-infection or vaccination, facilitating informed vaccination decisions. CEO Ilan Danieli expressed excitement about the partnership with Nirmidas Biotech and future retail expansion plans.

Precipio reaffirms its forecast that product revenues will reach approximately 50% of pathology revenue by Q4 2021, driven by its HemeScreen POL testing system. Contracted annualized revenues from signed customers currently exceed $750,000 and are expected to rise to $1,000,000. With a pipeline of over 30 prospective customers and the introduction of additional cancer panels, the company anticipates growth in both customer base and revenue. The partnership with ION Solutions is enhancing sales efforts, confirming the product's market acceptance and potential impact on patient care.

Precipio, Inc. (NASDAQ: PRPO) announced a new At-The-Market (ATM) financing arrangement, allowing for the sale of up to $20 million in shares for operational financing. Managed by Alliance Global Partners, this method enhances financial flexibility and limits shareholder dilution. The ATM structure provides Precipio with control over the timing and pricing of share sales, an improvement over previous equity lines. Management aims to utilize this less dilutive financing to support growth, particularly in their new HemeScreen product offering.

Precipio, Inc. (NASDAQ: PRPO) reported a remarkable financial performance for 2020, posting revenues of $6.1 million, a 95% increase from $3.1 million in 2019. The fourth quarter revenues reached $1.9 million, signaling strong growth potential with an annualized run rate of $8 million.

The growth was driven by pathology services, evidenced by a 26% increase in the customer base and a 117% increase in cases received. Looking ahead, HemeScreen is projected to contribute significantly to revenue, potentially reaching 50% of pathology revenue by Q4-2021.

Precipio, Inc. (NASDAQ: PRPO) will host its Q4-2020 and year-end corporate update call on March 31, 2021, at 5:00 PM EST. The call aims to provide updates on the company's core business areas and will be accessible via phone or through pre-registration for direct dial-in. Interested parties can submit questions in advance via email. The call replay will be available on Precipio's Investors page approximately 24 hours later. Precipio focuses on improving diagnostic accuracy through collaborations with prestigious academic institutions.

Precipio, Inc. (NASDAQ: PRPO) announces the appointment of Ron Andrews to its Board of Directors, enhancing its expertise in cancer diagnostics. Andrews, a veteran in product development and commercialization, previously held senior roles at Roche Molecular and Thermo Fisher Scientific. His experience is anticipated to bolster Precipio's strategy around its diagnostic solutions, including HemeScreen. Mark Rimer will step down from his director role but remain a board observer, reflecting his long-term support. This transition signals a pivotal moment for Precipio as it aims for increased revenue and profitability.