Home Trending Stocks Precipio Inc (NASDAQ:PRPO) stock is surging in the current trading session: Here’s...

Precipio Inc (NASDAQ:PRPO) stock is surging in the current trading session: Here’s why

At the time of writing, in the current trading session, Precipio Inc. (PRPO) stock had surged by 40.35% to the price at $2.55. PRPO stock previously closed at $1.82. The PRPO stock volume traded today at 33.54 million shares. The average trading volume for the past 3 months has been 605.95K. In the past year, up-to-date PRPO shares surged by 147.11% while in the past week the shares dropped by-4.71%. In the past three and six months, the PRPO stock has lost -35.92% and -15.74%. Furthermore, Precipio Inc. is currently valued at $34.31 million and has 17.58 million outstanding shares.

What we know about Precipio the cancer diagnostics company

Precipio, Inc., a cancer diagnostics company that specifically focuses on the provision of diagnostic products and services for the oncology market in the United States. Precipio is based in New Haven, Connecticut. Precipio’s product offering consists of services related to clinical diagnostic.


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The clinical diagnostic services focus of Precipio is for the oncologists; to provide them a diagnosis of certain hematopoietic cancers or blood-related cancers. PRPO stock has an investigative platform known as cytogenetics media IV-Cell and this allows laboratories to deliver highly accurate results. Similarly, the company provides a panel that allows hospitals and laboratories to run diagnostics and processes of an important genetic mutation test; this panel is known as the home screen panel.

Precipio’s serves a wide range of clients which include health care, medical companies, and private entities. The clientele includes biotech companies, oncology clinics, pharma, hospitals, and laboratories.

Precipio, Inc. also collaborates with academic institutions for partnerships on research or production of new medical products, research, and treatments which include Yale and Harvard’s Dana-Farber Cancer Institute.

Precipio announces the availability of the COVID-19 rapid test on Amazon

On 3rd May 2021, Precipio has announced that its breakthrough product COVID-19 rapid test has been launched on the e-commerce platform. The COVID-19 rapid test can detect the COVID virus in 20 minutes through testing of IgG & LgM antibodies. The platform on which it is launched now is none other than Amazon.

Precipio has also received emergency use authorization (EUA) by the FDA for point-of-care. This antibody test was the first US-based test to receive approval by FDA for EUA and has exclusive rights to distribute on Amazon. The product is stated to be only available to authorized laboratories or purchased by qualified medical point-of-care providers.

However currently the product is out of stock on Amazon this is because of the wide surge in demand for corona-virus diagnostic, prevention, and vaccination tests.

The antibodies test allows the individuals who have been infected but are asymptomatic or unaware as well as the previously infected ones to determine if they now have developed antibodies or not.

 

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