Precipio Inc (NASDAQ: PRPO) is having a great time in the market as of late, and the gains are continuing this morning. The gains we’re seeing today are ultimately the result of a management update provided by the company in the after hours just before Good Friday.
If you haven’t been following the stock, check out my recent detailed analysis here. Nonetheless, today, we’ll talk about:
- The management update;
- what we’re seeing from PRPO stock as a result; and
- what we’ll be watching for ahead.
PRPO Announces Management Update
As mentioned above, Precipio is having a great day in the market today after announcing a management update. The update came by way of press release just before the start of the holiday weekend.
In the release, PRPO said that Mr. Ori Karev has joined as its Chief Strategy Officer. Ori has a strong history in the healthcare space with a previous position as the CEO at UnitedHealthcare Global, the International Division of United Healthcare.
As a result of Ori’s leadership, UnitedHealthcare Global expanded its operations to more than 100 countries, employing more than 1,000 FTEs. Today, Ori has more than 30 years of executive experience in the healthcare, insurance and mobility industries.
Moving forward, Mr. Karev will be responsible for working with the senior exective team to develop and employ its expansion strategy both on a domestic and a global level. In the release, the company said that it intends on launching global initiatives, delivering its high quality pathology services to clinicians and patients worldwide.
In a statement, Ilan Danieli, CEO At PRPO, had the following to offer:
I am proud to have Ori join our executive team. Ori will add to our leadership team a unique combination of talent, experience, vision and execution capabilities that will take the company to a whole new level.
In the few weeks we have been working together, we have already plotted new initiatives and have made great progress; I am confident the company will see a substantive impact in the near, and certainly the long term. I welcome Ori to our team.
The above statement was followed up by Ori Karev. Here’s what he had to say:
Precipio is leading with vision, experience and determination in a field where recognition of value is, more often than not, a matter of life or death.
I am eager to be part of this amazing team which is facilitating the globalization of Precipio’s unique value proposition – superior diagnostic & interpretive capabilities – to demanding and deserving communities, worldwide.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to Precipio, the news proved to be incredibly positive.
After all, Ori brings with him years of experience and connections in the international healthcare industry. With the company pushing into the global diagnostics space, his assistance will likely be a key part of the company’s success.
So, it’s not surprising to see that excited investors are pushing the stock on a run for the top. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:02), PRPO is trading at $0.52 per share after a gain of $0.048 per share or 10.06% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on PRPO. In particular, we’re interested in following the story surrounding the company’s continued work to bring its products to patients and physicians around the world. Nonetheless, we’ll keep a close eye on the story and bring the news to you as it breaks!
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