Precipio, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 13, 2023 at 04:03 pm EST
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Precipio, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 0.831 million compared to USD 0.235 million a year ago. Revenue was USD 4.52 million compared to USD 2.22 million a year ago. Net loss was USD 1.46 million compared to USD 3.18 million a year ago. Basic loss per share from continuing operations was USD 1.04 compared to USD 2.79 a year ago.
For the nine months, sales was USD 2.47 million compared to USD 0.977 million a year ago. Revenue was USD 10.87 million compared to USD 7.02 million a year ago. Net loss was USD 6.78 million compared to USD 9.91 million a year ago. Basic loss per share from continuing operations was USD 5.39 compared to USD 8.72 a year ago.
Precipio, Inc. is a healthcare biotechnology company that is focused on cancer diagnostics. It develops and sells diagnostic products, reagents and services that improve the accuracy and efficiency of diagnostics, and lead to fewer misdiagnoses. The Companyâs technologies include HemeScreen and IV-Cell. IV-Cell is a cell culture media that addresses the problem of diagnostic mistakes through the process of selective culturing. IV-Cell is a universal media that enables simultaneous culturing of all four hematopoietic cell lineages. Its technology enables testing to be completed in one rapid scanning process. The HemeScreen panels test for the presence of various mutations. In developing HemeScreen, it focused on improving the economics of providing blood cancer diagnostic tests and reducing laboratory technician time consumed in the testing process. The Companyâs laboratory and research and development (R&D) facilities are located in New Haven, Connecticut and Omaha, Nebraska.