Precipio Inc (NASDAQ: PRPO) is having a great start to the trading session this morning, and for good reason. The company announced that it has negotiated a definitive agreement with a manufacturer that will produce its IV-Cell media.
As you would imagine, the news excited investors who are pushing the stock up. Today, we’ll talk about:
- The manufacturing news;
- what we’re seeing from PRPO stock as a result; and
- what we’ll be watching for ahead.
PRPO Announces Manufacturing News
As mentioned above, Precipio is having a strong day in the market today after announcing manufacturing news. The news came by way of press release early this morning.
In the release, the company announced that it has negotiated a definitive agreement with a manufacturer to provide its IV-Cell media. The company said that over the past year it has been working to commercialize its patented IV-Cell media.
The company’s efforts have centered around Research-Use Only based media to large laboratory customers who offer cancer cytogenetics testing. As part of its effort to expand and improve economics of its business, PRPO said that it became apparent that the best alternative would be to identify a manufacturing partner that will produce the media for those customers.
The company said that as a clinical laboratory and developer of these products, it prefers to outsource manufacturing to a company experienced in large-scale regulated manufacturing. The company said that the partner has the necessary experience, as well as scalable, large volume manufacturing capabilities.
Moreover, the manufacturere has the embeded quality-control processes, and the various ISO-related certifications required to mass-produce the media for global distribution. In a statement, Ilan Danieli, CEO at PRPO, had the following to offer:
This is an exciting time for us, as we move towards the start of commercializing the technologies we’ve developed.
The company and its shareholders deserve to reap the benefits of the innovative products developed, as we translate ideas in the laboratory into products – and revenue, for the company.
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 overwhelmingly positive.
After all, with the new manufacturing partner, the company has the ability to scale and expand. This is always good news for investors as growth is the ultimate goal.
So, it’s not surprising to see that excited investors are pushing the stock 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 (10:48), PRPO is trading at $0.27 per share after a gain of $0.028 per share or 11.64% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to follow PRPO closely. In particular, we’re interested in learning more about the manufacturing process and the company’s work to expand with the new partner. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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