prog - PROG STOCK NEWS

Progenity, Inc. (Nasdaq: PROG) announced the issuance of U.S. Patent No. 11,230,731 for its single-molecule detection assay platform. This patent focuses on methods for counting nucleic acid molecules, enhancing the firm's intellectual property portfolio in noninvasive prenatal testing and liquid biopsy. The patent supports a platform aimed at reducing costs and turnaround times for genomic tests. Progenity's patent estate encompasses 96 families, including 180 issued patents. The company is exploring partnerships to expedite market entry for its innovative diagnostic solutions.

Progenity (Nasdaq: PROG) announced that Dr. Bram Verstockt will present patient data demonstrating a correlation between drug levels and clinical outcomes at the 34th Belgian Week of Gastroenterology, scheduled for February 9-11, 2022. The presentation will focus on the endoscopic outcomes in patients treated with tofacitinib, correlating these results with tissue exposure to the drug. This acceptance marks a significant opportunity for Progenity to highlight the efficacy of its oral biotherapeutics for gastrointestinal health.

Progenity, Inc. (Nasdaq: PROG) has announced that two presentations featuring patient data on gastrointestinal treatment efficacy will be showcased at the 17th Congress of the European Crohn’s and Colitis Organisation (ECCO) from February 16-19, 2022. The presentations will focus on Tofacitinib and the characterization of cytokine and drug concentrations in treating ulcerative colitis. Abstracts will be posted on the ECCO website in mid-January, and the company aims to enhance patient outcomes through its innovative approaches in gastrointestinal health.

Progenity, Inc. (Nasdaq: PROG) announced its participation in the H.C. Wainwright BIOCONNECT Virtual Conference with a pre-recorded presentation available on January 10, 2022. The presentation will be accessible at 7 a.m. Eastern / 4 a.m. Pacific on the conference website and on Progenity's Investor section.

Progenity focuses on oral biotherapeutics and aims to innovate in gastrointestinal and women's health through a multi-omics approach for precise diagnostics and localized treatment solutions.

Progenity, Inc. (NASDAQ: PROG) has successfully completed the divestiture of its affiliate Avero Diagnostics to Northwest Pathology for $10.9 million. This transaction is projected to reduce annual operating expenses by approximately $28 million, totaling $145 million since the second quarter. The sale aims to enhance Progenity's financial position, extending its cash runway beyond 2022 and decreasing its reliance on capital markets. Over 90% of Avero's workforce will be retained, ensuring a smooth transition.

Progenity, Inc. (Nasdaq: PROG) announced the issuance of U.S. Patent No. 11,186,863, which covers methods for counting nucleic acid molecules, crucial for their developing Single-Molecule Detection Platform. This platform aims to simplify noninvasive prenatal testing and cancer liquid biopsies by eliminating the need for costly sequencing. Progenity holds a strong patent portfolio with 96 families comprising 180 issued patents. As the company shifts from commercial diagnostics, it seeks partners to advance this innovative technology.

Progenity, Inc. (Nasdaq: PROG) reported a significant liquidity boost, receiving over $44 million from warrant exercises since August 2021. This capital increase strengthens their position to meet critical research and development goals throughout 2022. The firm has also executed a 38% reduction in the principal amount of its convertible senior notes due 2025, primarily held by Athyrium Capital Management. Progenity aims to enhance operational efficiency and expedite its biotechnology initiatives in gastrointestinal health and oral biotherapeutics.

Progenity, Inc. (Nasdaq: PROG) will participate in a pre-recorded fireside chat at the Piper Sandler 33rd Annual Virtual Healthcare Conference. The chat will be available on November 22, 2021, starting at 10 a.m. Eastern / 7 a.m. Pacific. Additionally, Progenity will hold 1x1 investor meetings on November 30, exclusively through Piper Sandler. The company focuses on women's health, gastrointestinal health, and oral biotherapeutics, utilizing a multi-omics approach to enhance diagnostic precision and treatment efficacy.

Progenity (Nasdaq: PROG) reported third-quarter 2021 financial results, generating $9.6 million in revenues, largely from discontinued operations. The company incurred a net loss of $43.7 million, reducing from $78.5 million in the previous quarter. Significant developments include the addition of four new patents enhancing its GI therapeutic delivery technologies and a strategic transformation aimed at reducing cash burn by implementing cost-cutting measures expected to save $145 million annually. New leadership appointments also strengthen the management team's capabilities, driving innovation in biotherapeutics.