Precipio to Report $15.2M for FY-2023 (unaudited) Revenues, an increase of 60% YoY
13 Fevereiro 2024 - 12:00PM
Specialty cancer diagnostics company Precipio, Inc. (NASDAQ: PRPO),
announces that for the full year of 2023, its unaudited revenues
have grown from $9.4M in 2022 to $15.2M in 2023, an increase of 60%
year over year.
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%.
The growth of revenues
in both of these divisions, alongside the cost-cutting measures
executed by the company during 2023, has driven the substantial
reduction in cash burn from operations, as was recently reported.
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.
About
Precipio
Precipio is a healthcare biotechnology company
focused on cancer diagnostics. Our mission is to address the
pervasive problem of cancer misdiagnoses by developing solutions in
the form of diagnostic products and services. Our products and
services deliver higher accuracy, improved laboratory workflow, and
ultimately better patient outcomes, which reduce healthcare
expenses. Precipio develops innovative technologies in our
laboratory where we design, test, validate, and use these products
clinically, improving diagnostic outcomes. Precipio then
commercializes these technologies as proprietary products that
serve the global laboratory community and further scales Precipio’s
reach to eradicate misdiagnosis. For more information, please visit
www.precipiodx.com.
Please follow us on LinkedIn, Twitter
@PrecipioDx and on Facebook.
Forward-Looking Statements
This press release contains “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. All statements contained in this press release
that do not relate to matters of historical fact should be
considered forward-looking statements, including, without
limitation, statements regarding the targets set herein and related
timing.
Except for historical information, statements
about future volumes, sales, growth, costs, cost savings, margins,
earnings, earnings per share, diluted earnings per share, cash
flows, plans, objectives, expectations, growth or profitability are
forward-looking statements based on management’s estimates,
beliefs, assumptions and projections. Words such as “could,” “may,”
“expects,” “anticipates,” “will,” “targets,” “goals,” “projects,”
“intends,” “plans,” “believes,” “seeks,” “estimates,” “predicts,”
and variations on such words, and similar expressions that reflect
our current views with respect to future events and operational,
economic and financial performance, are intended to identify such
forward-looking statements. These forward-looking statements are
only predictions based on management’s current expectations. These
statements are neither promises nor guarantees, but involve known
and unknown risks, uncertainties and other important factors that
may cause our actual results, performance or achievements to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements, including, but not limited to, the important factors
discussed under the caption “Risk Factors” in our Annual Report on
Form 10-K for the fiscal year ended December 31, 2022, Quarterly
Report on Form 10-Q for the three months ended September 30, 2023,
and our other reports filed with the U.S. Securities and Exchange
Commission. Any such forward-looking statements represent
management’s estimates as of the date of this press release only.
While we may elect to update such forward-looking statements at
some point in the future, except as required by law, we disclaim
any obligation to do so, even if subsequent events cause our views
to change. These forward-looking statements should not be relied
upon as representing our views as of any date subsequent to the
date of this press release.
Inquiries:
investors@precipiodx.com
+1-203-787-7888 Ext. 523
Precipio (NASDAQ:PRPO)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Precipio (NASDAQ:PRPO)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024