Many healthcare businesses, including Precipio’s Diagnostic Services division, rely on Change Healthcare (CH) to submit bills and collect cash from various payors and insurance companies for the services they provide.
Key Points:
- Many healthcare businesses, including Precipio’s Diagnostic Services division, rely on Change Healthcare (CH) to submit bills and collect cash from various payors and insurance companies for the services they provide.
- As mentioned on the call, payments from customers of Precipio’s Products division are not processed through CH and were not impacted by the cybersecurity event.
- Under the terms of the facility, the company will draw down the first $250K immediately; and can access an additional $250K in a future time, at its discretion.
- We are committed to the continued path towards profitability, and believe this is a temporary bump in that road.”
NEW HAVEN, Conn., March 25, 2024 (GLOBE NEWSWIRE) -- Specialty cancer diagnostics company Precipio, Inc. (NASDAQ: PRPO) , will be hosting its year end 2023 corporate update call on April 1st, 2024 at 5:00 PM ET.
Key Points:
- NEW HAVEN, Conn., March 25, 2024 (GLOBE NEWSWIRE) -- Specialty cancer diagnostics company Precipio, Inc. (NASDAQ: PRPO) , will be hosting its year end 2023 corporate update call on April 1st, 2024 at 5:00 PM ET.
- The call will include updates on all of the company’s current core businesses.
- The conference call may be accessed by calling 844-695-5519 (international callers dial 1-412-902-6760).
- All callers should ask for the Precipio Inc. conference call.
Retrieved on:
Tuesday, February 13, 2024
Both pathology and products divisions have demonstrated substantial growth from 2023, with the pathology services division increasing revenue by 52%, and the products division increasing revenue by 115%.
Key Points:
- Both pathology and products divisions have demonstrated substantial growth from 2023, with the pathology services division increasing revenue by 52%, and the products division increasing revenue by 115%.
- With a $1.5M cash balance ending 2023, the company is positioned to achieve its goal of reaching profitability.
- “Continued growth in both the pathology services and the products divisions is fueling our path towards profitability.
- Reaching this goal will enable us to scale the business and capture significant market share, resulting in increased shareholder value,” said Ilan Danieli, CEO.
Retrieved on:
Tuesday, February 6, 2024
NEW HAVEN, Conn., Feb. 06, 2024 (GLOBE NEWSWIRE) -- Specialty cancer diagnostics company Precipio, Inc. (NASDAQ: PRPO) announces it has entered into a distribution agreement with Cardinal Health for its HemeScreen molecular assay products.
Key Points:
- NEW HAVEN, Conn., Feb. 06, 2024 (GLOBE NEWSWIRE) -- Specialty cancer diagnostics company Precipio, Inc. (NASDAQ: PRPO) announces it has entered into a distribution agreement with Cardinal Health for its HemeScreen molecular assay products.
- Under the agreement, Cardinal Health will market and distribute Precipio’s HemeScreen portfolio of molecular assays to its customer base, which comprises primarily the acute healthcare systems (hospital networks), as well as reference laboratories and physician owned laboratories.
- “The addition of this agreement with Cardinal Health, and alongside distribution agreements Precipio has with Fisher Healthcare and McKesson, strengthens our distribution network and positions us for growth in 2024”, said Ilan Danieli, Precipio’s CEO.
- “Cardinal Health is a formidable player in the market, and we are excited to work with them to deliver value to their customers, and to the patients they serve”.
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Tuesday, January 23, 2024
Cash Burn From Operations (CBFO) declined by over 90% from the previous quarter, from approximately $1M/quarter in Q3-2023 to below $100k/quarter in the following recent quarter Q4-2023.
Key Points:
- Cash Burn From Operations (CBFO) declined by over 90% from the previous quarter, from approximately $1M/quarter in Q3-2023 to below $100k/quarter in the following recent quarter Q4-2023.
- Precipio’s end of quarter cash balance changed from approximately $1.5M at the end of Q3-2024, to approximately $1.4M as of Dec 31, 2023.
- Notwithstanding the above mentioned “seasonal” effects, the Q4-2023 CBFO results demonstrate the company’s ability to approach cash flow breakeven.
- “Seeing the results of our business impact cash flow in this way is extremely promising, and further validates our business model.
Retrieved on:
Wednesday, January 17, 2024
The distributor has already secured its first purchase order from a leading Japanese clinical laboratory, for Precipio’s proprietary IV-Cell cytogenetics media.
Key Points:
- The distributor has already secured its first purchase order from a leading Japanese clinical laboratory, for Precipio’s proprietary IV-Cell cytogenetics media.
- The Japanese diagnostic market is renowned for its high level of quality and for its intense scrutiny of products.
- Precipio was approached by a Japanese laboratory with an inquiry about its IV-Cell media, and entered into a testing period to evaluate the product.
- The laboratory then appointed a distributor to handle negotiations with Precipio, resulting in a distribution agreement for its products within the Japanese market.
ING,
Mentorship,
Cantor Fitzgerald,
Natixis,
Research,
Weill Cornell Medicine,
Cornell University,
MBA,
Crédit Agricole,
Award,
Reed College,
Knowledge,
Initial public offering,
Crédit Lyonnais,
Research fellow,
Medicine,
Pleasure,
Management NEW HAVEN, Conn., Jan. 02, 2024 (GLOBE NEWSWIRE) -- Specialty cancer diagnostics company Precipio, Inc. (NASDAQ: PRPO) is pleased to welcome Christina Valauri to its board of directors effective Jan 1st, 2024.
Key Points:
- NEW HAVEN, Conn., Jan. 02, 2024 (GLOBE NEWSWIRE) -- Specialty cancer diagnostics company Precipio, Inc. (NASDAQ: PRPO) is pleased to welcome Christina Valauri to its board of directors effective Jan 1st, 2024.
- Ms. Valauri is the founding partner and CEO of Sagestone Advisory, LLC.
- Ms. Valauri earned her BA in Biology from Reed College and an MBA from Cornell University.
- We are fortunate to have her join our board.”
After serving on Precipio’s board of directors for 6 years, Douglas Fisher, MD is stepping off the board to maintain a board of 7 directors and will remain as an observer moving forward.
Retrieved on:
Thursday, December 14, 2023
NEW HAVEN, Conn., Dec. 14, 2023 (GLOBE NEWSWIRE) -- Management of specialty cancer diagnostics company Precipio, Inc. ( NASDAQ: PRPO ) shares thoughts and reflections looking back at 2023, and forward to 2024.
Key Points:
- NEW HAVEN, Conn., Dec. 14, 2023 (GLOBE NEWSWIRE) -- Management of specialty cancer diagnostics company Precipio, Inc. ( NASDAQ: PRPO ) shares thoughts and reflections looking back at 2023, and forward to 2024.
- Target #3: Maintaining or improving the company’s cost structure, to ensure that Target #1 and Target #2 do not have to be increased.
- As disclosed in our recent 10Q filing for Q3-2023, the company reached ~$0.85M in product revenue for the third quarter.
- We would like to remind shareholders to expect more quarter-to-quarter volatility in pathology division revenue than in product division revenue.
Retrieved on:
Thursday, November 16, 2023
NEW HAVEN, Conn., Nov. 16, 2023 (GLOBE NEWSWIRE) -- Specialty cancer diagnostics company Precipio, Inc. (NASDAQ: PRPO) , will be hosting its Q3-2023 corporate update call on November 20th, 2023 at 5:00 PM ET.
Key Points:
- NEW HAVEN, Conn., Nov. 16, 2023 (GLOBE NEWSWIRE) -- Specialty cancer diagnostics company Precipio, Inc. (NASDAQ: PRPO) , will be hosting its Q3-2023 corporate update call on November 20th, 2023 at 5:00 PM ET.
- The call will include updates on all of the company’s current core businesses.
- The conference call may be accessed by calling 844-695-5519 (international callers dial 1-412-902-6760).
- All callers should ask for the Precipio Inc. conference call.
Retrieved on:
Wednesday, October 18, 2023
NEW HAVEN, Conn., Oct. 18, 2023 (GLOBE NEWSWIRE) -- Specialty cancer diagnostics company Precipio, Inc. (NASDAQ: PRPO) , announces that Q3-2023 (unaudited) revenues have increased 28% to $4.5M from $3.5M in Q2-2023, and have more than doubled from $2.2M from Q3-2022.
Key Points:
- NEW HAVEN, Conn., Oct. 18, 2023 (GLOBE NEWSWIRE) -- Specialty cancer diagnostics company Precipio, Inc. (NASDAQ: PRPO) , announces that Q3-2023 (unaudited) revenues have increased 28% to $4.5M from $3.5M in Q2-2023, and have more than doubled from $2.2M from Q3-2022.
- The combination of ongoing revenue growth in both the pathology and products divisions, alongside efficiency and cost reduction initiatives has rapidly moved the company towards its goals.
- “As we approach a $20M run rate, we expect our operating cash flow to approach breakeven.
- This year will mark a steep, but rewarding climb to get the company to where it can stand on its own feet financially,” said Ilan Danieli, CEO.
