Precipio Inc (NASDAQ: PRPO) is running for the top early on in the trading session today, and for good reason. The company announced a sales update, exciting investors who are pushing the stock up. Today, we’ll talk about:
- The sales update;
- what we’re seeing from PRPO stock as a result; and
- what we’ll be watching for ahead.
PRPO Announces Sales Update
As mentioned above, Precipio is having a strong start to the trading session this morning after announcing a sales update. The update was provided via press release in the pre-market hours this morning.
In the release, PRPO said that it continues to receive new and repeat business from various customers in China. In particular, the customers are ordering the company’s ICP liquid biopsy enrichment technology.
In the release, the company said that its EGFR Exon 20 assay is seeing strong sales in the region. The company is seeing strong demand for the assay in the Japanese hospital market.
In the release, the company said that Kyorin University Hospital placed its third order for the ICP assay. It is expected that the RUO reagents kit will be used for clinical research purposes within the hospital laboratory.
In a statement, Stephen Miller, CCO at PRPO, had the following to offer:
Repeat orders from the same customer demonstrate both the attractiveness of our technology, as well as the ability to move from the trial phase to a revenue generating customer. Market adoption in technologically-advanced countries such as Japan, is a testament to the market potential and the clinical significance of the products we sell.
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.
With the continued interest from Japanese hospitals for the company’s products, the company is generating strong sales in the region. As a result, investors are expecting to see growth in revenue, which is causing excitement and pushing the stock up.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:46), PRPO is trading at $0.18 per share after a gain of $0.014 per share or 8.70% 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 company’s work to take advantage of the clinical interest for its products in the Japanese region. We’re also interested in following the company’s work to bring its products to other markets 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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