Precipio Inc (NASDAQ: PRPO) is flying early on in the market this morning, and for good reason. The company released its preliminary results for the second quarter, showing continued triple digit growth. Of course, the news excited investors who are pushing the stock for the top. Today, we’ll talk about:
- The preliminary results;
- what we’re seeing from PRPO as a result; and
- what we’ll be watching for ahead.
PRPO Announces Strong Preliminary Results
As mentioned above Precipio is having an incredibly strong start to the trading session this morning after announcing preliminary results. In a press release issued early this morning, the company announced preliminary results for the second quarter, showing strong, triple-digit revenue growth.
In the release, the company said that on a quarter over quarter basis, growth came in at 14% and said that it expects to run at a 70% annual growth rate throughout 2018. On a preliminary basis, PRPO said that revenue for the second quarter came in at 815,000. That’s massive growth of 213% year over year from the 260,000 reported in the second quarter of 2017. This is the third consecutive quarter where the company has shown year-over-year revenue growth in the triple digits. In a statement, Ilan Danieli, CEO at PRPO, had the following to offer:
These results represent further validation of our high growth strategy to rapidly gain pathology services market share, and commercialize our unique liquid biopsy, mutation detection products for cancer… We are confident with the potential effect on market and enterprise value resulting from this trend, as we continue to hit revenue and commercialization milestones.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news causes moves. In the case of Precipio, the news proved to be overwhelmingly positive. After all, as investors, we’re looking for growth and the company just showed that it is capable of generating just that. So, it comes as no surprise that excited investors are pushing the stock toward the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:48), PRPO is trading at $0.62 per share after a gain of $0.26 per share or 69.86% 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 growth as it has seen incredible revenue growth over the past few quarters. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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