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 appointed Richard Sandberg as the new Chairman of the Board, replacing Dr. Douglas Fisher, who will continue as a Director. Mr. Sandberg has been with Precipio since its inception and has a strong background in diagnostics, having founded Dianon Systems, which LabCorp acquired for $650M. Under Fisher’s leadership, the company successfully transitioned post-merger with Transgenomic and improved its business model. Sandberg emphasizes opportunities for growth in diagnostic technology through partnerships with leading academic institutions.
Precipio, Inc. (NASDAQ: PRPO) has initiated the market rollout of a COVID-19 antibody test following the receipt of FDA Emergency Use Authorization for the test developed by Nirmidas Biotech. This test is the first US-based product authorized for point-of-care use, aimed at helping individuals assess their antibody status in relation to vaccination decisions. Precipio has begun distribution to its oncology customers and plans broader market expansion. The test detects antibodies linked to the SARS-CoV-2 spike protein, enhancing vaccine efficacy evaluation as the vaccination campaign progresses.
Precipio, Inc. (NASDAQ: PRPO) has partnered with two major oncology practices, West Cancer Center and New York Cancer & Blood Specialists, to implement its HemeScreen technology. This will enhance turnaround times for crucial molecular tests related to various cancers. The collaboration is projected to generate significant revenue, potentially reaching seven figures. The partnership may also expand opportunities for further testing and reagent sales, thereby increasing market share for Precipio in the oncology diagnostics sector.
Precipio, Inc. (NASDAQ: PRPO) has entered an agreement with a major US oncology distributor to expand its HemeScreen POL program to independent community oncology practices across the nation. This collaboration aims to improve patient care through rapid diagnostics and generate potential revenue of $100,000 annually per participating practice. The HemeScreen Reagent Rental Program will enable practices to perform in-house testing without upfront costs. CEO Ilan Danieli highlighted the alignment of interests between the two companies, aimed at supporting community oncologists effectively.
Precipio (NASDAQ: PRPO) will host its Q3-2020 corporate update call on November 19, 2020, at 5:00 PM ET. The call will focus on the company’s core business updates and its COVID-19 testing initiative.
Participants can join by calling 844-695-5519 or through pre-registration for an easier access.
Listeners are invited to submit questions to management via email. The call will be available for replay on Precipio's website approximately 24 hours post-event.
Precipio, Inc. (NASDAQ: PRPO) and ADS Biotec have initiated beta-phase testing for their new IV-Cell cytogenetics culturing media in prominent US and European laboratories. Seven customer labs, part of major healthcare systems, will evaluate the product, with expectations to integrate IV-Cell into their processes. Testing, expected to conclude by year-end, aims to produce unbiased results to support marketing efforts. Successful outcomes from these tests may enhance market adoption and credibility within the cytogenetics community, boosting the product’s penetration.
Precipio, a specialty cancer diagnostics company, has launched its HemeScreen AML panel for Acute Myeloid Leukemia testing in its CLIA laboratory. This panel allows quicker turnaround times, essential for timely treatment decisions, as patients treated within 4 days of diagnosis significantly improve their survival rates. The HemeScreen AML utilizes key gene mutations for diagnostics and therapy planning. Precipio claims to be the first lab offering same-day results, enhancing patient care and enabling labs to avoid batching samples for testing, thus improving economics and operational efficiency.
Precipio (NASDAQ: PRPO) announces a shareholder call on September 9, 2020, at 5:00 PM EST to discuss its COVID-19 strategy. CEO Ilan Danieli will address pre-submitted questions regarding the company's initiatives and future plans. Shareholders can send inquiries until September 7, 2020, via email. The call can be accessed at the provided phone numbers, and a replay will be available on Precipio's investors page after 24 hours. Precipio focuses on advanced cancer diagnostics in collaboration with top academic institutions to enhance diagnostic accuracy and patient care.
Precipio (NASDAQ: PRPO) has entered into an exclusive global distribution agreement with ADS Biotec for its IV-Cell cytogenetics cell culturing media. The new version of IV-Cell is fully validated and aims to enhance efficiency and accuracy in laboratories. This partnership leverages ADS Biotec's extensive customer base and distribution network, allowing for expedited product rollout. The go-to-market strategy focuses on strategic partnerships instead of building internal sales teams, expected to accelerate market penetration. A beta study is planned for Q4-2020.
Precipio, Inc. (NASDAQ: PRPO) will host its Q2-2020 corporate update call on August 17, 2020, at 5:00 PM ET. The call will cover updates on the company's core businesses and its COVID-19 testing initiative. Interested parties can access the call by dialing 844-695-5519 (international: 1-412-902-6760) or by pre-registering for a direct dial-in to bypass the operator. A replay will be available 24 hours post-call. Precipio focuses on improving diagnostic accuracy through collaborations with leading academic institutions, addressing misdiagnosis in cancer diagnostics.
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