Specialty diagnostics company Precipio (NASDAQ:PRPO) spotted trading -72.69% off 52-week high price. On the other end, the stock has been noted 78.63% away from the low price over the last 52-weeks. The stock changed 1.72% to recent value of $2.95. The stock transacted 351256 shares during most recent day however it has an average volume of 1270.93K shares. The company has 5.98M of outstanding shares and 5.74M shares were floated in the market.
On June 25, Specialty diagnostics company Precipio (NASDAQ:PRPO) announced the initiation of a second development project with H3 Biomedicine that will include the creation of a targeted gene panel. The panel will include a pre-amplification multiplexed PCR that will amplify targeted regions of the key genes of interest. The panel would be used by H3 Biomedicine for their ongoing clinical development programs.
H3 Biomedicine was launched in 2011 with an unprecedented $200 million funding commitment from Eisai, a leading global pharmaceutical company pharmaceuticals company, plus additional funding for clinical programs. As a clinical-stage biopharmaceutical company, H3 uniquely leverages their distinct insights from cancer genomics and real-life patient data to advance their projects to clinical proof of concept and beyond. H3 embraces a novel business model in which it collaborates with Eisai to create a prolific drug discovery engine and partnership platform. H3 currently has three compounds in phase I development.
The first project between H3 and Precipio was the development of multiplexed PCR assays for PIK3CA and ESR1 genes. The second development project between the companies will focus on the development of multiplexed PCR assays for FGFR3, PIK3CA, HRAS, TERT and PLEKHS1. During the project, Precipio will develop nine amplicons within the genes of interest and focus on the amplification and multiplexing of the mutations of interest.
We are extremely pleased to be working with the team at H3 Biomedicine on this second project. The work that our team has done with our multiplexed ICE COLD-PCR puts these types of development projects right in our wheel-house, stated Stephen Miller, Chief Commercial Officer of Precipio. This is one of many projects in our pipeline that demonstrates Precipio’s value to pharma and biotech companies as they take their research from the bench to the clinical setting. Mr. Miller commented.
Precipio has built a platform designed to eradicate the problem of misdiagnosis by harnessing the intellect, expertise and technology developed within academic institutions and delivering quality diagnostic information to physicians and their patients worldwide. Through its collaborations with world-class academic institutions specializing in cancer research, diagnostics and treatment such as the Yale School of Medicine and Harvard’s Dana-Farber Cancer Institute, Precipio offers a new standard of diagnostic accuracy enabling the highest level of patient care. Its earnings per share (EPS) expected to touch remained 86.70% for this year while earning per share for the next 5-years is expected to reach at 20.00%. PRPO has a gross margin of 8.30%.
According to the most recent quarter its current ratio was 0.1 that represents company’s ability to meet its current financial obligations. The price moved ahead of -32.28% from the mean of 20 days, -48.25% from mean of 50 days SMA and performed -28.53% from mean of 200 days price. Company’s performance for the week was -6.35%, -49.40% for month and YTD performance remained 27.71%.
Ricardo Gardner joined the newsdegree.com, after more than 10 years of experience in writing financial and business news, most recently as Investment Editor and writer. He also has a vast knowledge of stock trading. He earned bachelor degree from Union College with a focus in Business Administration. Ricardo is the Senior Editor for newsdegree.com and market movers section. He also holds an MBA from Penn State University He has two daughter and two children.
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