Precipio reports preliminary Q2 revenue $2.3M, one est. $3.25M » 10:0707/2807/28/21
"I'm proud of…
"I'm proud of our team that has continued to work diligently to grow the Pathology business. Furthermore, Taking a technology developed at Precipio and creating a proprietary and protected product with meaningful clinical and economic benefit to our customers, is an example of our development capabilities," said Ilan Danieli, Precipio's CEO. "HemeScreen has an opportunity to be a world-wide technology as it continues to prove itself as a game-changing technology."
|Over a month ago|
Precipio terminates equity line financing structure with Lincoln Park Capital » 11:0106/1506/15/21
Precipio announces that…
Precipio announces that as part of management's review of its current financing arrangements, it has terminated the equity line financing structure it had in place with Lincoln Park Capital. The equity line was used by Precipio to fund day-to-day operations and cover its operational cash burn that was required for the company's continued growth. With the company's current situation - growing revenues, improved gross margins, improving cash from gross profits - combined with our current cash position, management currently does not anticipate the need for additional capital raises of the type that Lincoln Park has provided us. "I'd like to thank our friends at Lincoln Park Capital for their help and support of the Company, particularly during the periods where this arrangement was critical to the Company's cash needs," said Ilan Danieli, Precipio's CEO. "We are now in a position where we have significantly extended our runway, and we anticipate that we will have the ability and the resources to rapidly grow the Company without further capital raises to fund ongoing operations in the next 24 months."
Largest borrow rate increases among liquid names » 08:4506/1406/14/21
ARVL, UPST, HTZGQ, IPOF, ATER, PRPO, CLII, SPI, LHDX, BNGO
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: Arrival (ARVL) 270.81% +107.38, Upstart Holdings (UPST) 83.44% +6.61, Hertz Global Holdings (HTZGQ) 20.53% +4.64, Social Capital Hedosophia VI (IPOF) 5.59% +3.93, Aterian (ATER) 14.66% +2.58, Precipio (PRPO) 37.93% +1.72, Climate Change Crisis Real Impact I Acquisition Corp (CLII) 16.84% +1.05, SPI Energy (SPI) 27.28% +0.41, Lucira Health (LHDX) 49.49% +0.39, and Bionano Genomics (BNGO) 1.96% +0.31.
Precipio launches HemeScreen Anemia Panel » 10:3106/0806/08/21
Precipio announced that…
Precipio announced that it has launched the HemeScreen Anemia Panel as part of its suite of diagnostic tests. The purpose of this panel is to help physicians address one of the more significant clinical challenges they face: anemia of unknown cause. Precipio's HemeScreen Anemia Panel is a simple blood test that identifies molecular genetic errors which point to potentially fatal acute leukemia. Precipio's rapid, simple test, performed in the doctor's office, directs the physician to perform further appropriate hematology testing and treatment.
new option listings and three option delistings on May 26th » 08:3005/2605/26/21
AVAH, BCM, BDSX, BIPC, CAPE, CGAU, DSPC, GRN, GSP, LD, MMX, OIL, OTLY, PRPO, SWIM, CUB, FFG, GFN
New option listings for…
New option listings for May 26th include Barclays ETN Plus Select MLP (ATMP), Aveanna Healthcare Holdings Inc (AVAH), iPath Pure Beta Broad Commodity (BCM), Biodesix Inc (BDSX), Brookfield Infrastructure Corporation (Class A Stock) (BIPC), Barclays ETN plus Shiller CAPE (CAPE), Centerra Gold Inc (CGAU), iPath US Treasury 5-year Bull (DFVL), iPath US Treasury 5-year Bear (DFVS), De spac ETF (DSPC), iPath Series B Bloomberg Natural Gas Subindex TR ETN (GAZ), Pacer iPath Gold ETN (GBUG), iPath Series B Carbon ETN (GRN), Barclays Bank Plc (GSP), iPath S&P (IMLP), iPath Series B Bloomberg Energy Subindex TR ETN (JJE), iPath Series B Bloomberg Softs Subindex TR ETN (JJS), iPath Bloomberg Lead Subindex Total Return ETN (LD), Maverix Metals Inc (MMX), iPath Pure Beta Crude Oil (OIL), Oatly Group AB (ADS) (OTLY), iPath Series B Bloomberg Platinum Subindex TR ETN (PGM), Precipio Inc (PRPO), AB Svensk Ekportkredit (RJZ), and Latham Group Inc (SWIM). Option delistings effective May 26th include Cubic Corp (CUB), FBL Financial Group Inc (Class A Stock) (FFG), and General Finance Corp (GFN).
Precipio launches COVID-19 rapid antibody test on Amazon's business platform » 09:3205/0305/03/21
Precipio (PRPO) announced…
Precipio (PRPO) announced that it has successfully launched its COVID-19 rapid antibody test which tests for both IgG & IgM antibodies, on Amazon.com's (AMZN) business platform. Precipio holds the exclusive rights to distribute this product on Amazon's platform. The antibody test, which is manufactured in the USA by Nirmidas Biotech, of California, was the first US-based test to receive emergency use authorization by the FDA for point-of-care. The product is visible for sale on Amazon's website and app, per the EUA approval received for the test kit in December of 2020; however it may currently be purchased only by qualified medical point-of-care providers. Physicians and other medical facilities may now purchase these items directly from Amazon, and receive them within 2 business days.
|Over a quarter ago|
Precipio expects $1M annualized reported revenues from HemeScreen POL by Q4 » 11:0204/2604/26/21
Precipio announced that…
Precipio announced that currently, the contracted annualized revenues from signed customers for its HemeScreen POL testing system exceed $750,000 and for the reasons set forth below, by Q4-2021 this cohort is expected to result in reported quarterly revenues with an annualized run rate of $1,000,000. With an additional pipeline of over 30 prospective customers nationwide, Precipio currently reaffirms its forecast that product revenues will reach approximately 50% of pathology revenue by the fourth quarter of 2021. The annualized reported revenues from the cohort of current signed customers are expected to increase to $1,000,000 by Q4-2021 because newly signed customers typically make smaller contractual commitments in order to evaluate their work flow and HemeScreen utility before committing to a larger number. In addition, during the coming months the HemeScreen offering is anticipated to broaden by the introduction of additional panels for other types of cancer. If successful, this expansion will improve patient care while providing meaningful financial benefits to customers' and to Precipio's bottom line. As Precipio continues to introduce additional assays to be utilized on the same platform, average revenue per customer will increase via incorporation and utilization of these assays within the POL's operations.
Precipio enters ATM financing arrangement » 09:1004/0504/05/21
Precipio announces a new…
Precipio announces a new "At-The-Market" financing arrangement that improves its financing flexibility. As provided in the Company's prospectus supplement filed on April 2, 2021, Precipio will be able to sell shares from time to time through the ATM offering, up to an aggregate of $20M. The Company anticipates that this will be its primary financing method going forward. The ATM will be managed by Alliance Global Partners, an investment bank with which Precipio has been working since 2017. This arrangement will be used in an ongoing manner to finance Precipio's operations and provide the resources the Company needs to fuel its growth, particularly for its new HemeScreen offering for physician offices. As the Company continues to grow, having the most cost-effective, flexible financial tools at its disposal is critical to financing in the least dilutive manner. The ATM structure provides Precipio's management with more control over the timing, pricing, and proceeds it receives from selling shares into the market.
Precipio price target raised to $7 from $2 at Maxim » 08:0704/0104/01/21
Maxim analyst Jason…
Maxim analyst Jason McCarthy raised the firm's price target on Precipio to $7 from $2 and keeps a Buy rating on the shares. The company's FY20 revenue grew in spite of the COVID headwinds, and while that growth was mainly attributed to the pathology services business, Precipio is shifting its core business toward the higher margin hematology diagnostic products and slowly away from sample selection and in-house testing, the analyst tells investors in a research note.
Precipio reports 2020 revenue $6.1M vs. $3.1M last year. » 09:1603/3003/30/21
"The efforts of our…
"The efforts of our team throughout the 2020 Covid shutdown were incredible, and the results speak for themselves", said Ilan Danieli, the Company's CEO. "We began to prepare in mid-March 2020 for the unknown; the individual efforts of our lab, R&D and sales personnel define the word "perseverance" and the phrase "commitment to excellence". We now have the opportunity to leverage a powerful growth engine which has been put through the challenges of 2020 and is ready for takeoff in 2021."