Precipio, Inc. (PRPO) stock prices were down 3.62% as of the market closing on ay 5th 2021, bringing the price per hare down to UD$5.06 at the end of the trading day. Subsequent pre-market fluctuations have seen the price go up by 7.51%, bringing it up to USD$5.44.
Launch of Covid-19 Antibody Testing Kit
May 3rd 2021 saw the specialty diagnostics company announce the successful launch of its rapid antibody test for Covid-19 on Amazon’s online business platform. PRPO has exclusive rights to the distribution of the 20 minute test, which tests for both IgG as well as IgM antibodies, on Amazon.com. Manufactured by Nirmadas Biotech of California, the antibody test is the first US-based test to have been granted emergency use authorization by the U.S. Food and Drug Administration for point-of-care.
Commercialization of Testing Kit
With the testing kit having received EUA approval in December of 2020, the product is available for purchase on Amazon’s website. It can currently only be purchased by qualified medical point-of-care (POC) providers, such as physicians and medical facilities who will receive the testing kits within 2 business days of ordering.
What Does the Testing Kit Do?
The testing kit serves to identify the presence of antibody in the test subject, indicating previous exposure to the virus or a confirmation of having been vaccinated. As the body’s natural biological response to both infections and vaccinations, the development of antibodies marks the beginning of the body’s process of building immunity against recurrence of the infection.
Scope of Testing Kit
One of the key benefits to the test is confirming the presence of antibodies in test subjects who were infected, either knowingly or unknowingly. The test presents a tool that provides extra information to help make the decision of getting a vaccination or not. Furthermore, the testing kit can be used to gauge the success of vaccinations initially and in the persistence over time of the measured antibodies.
As the largest online retail platform in the world, this is a great opportunity for PRPO, further consolidating the benefit of its partnership with Nirmidas. Following the appropriate designation by the FDA, PRPO hopes to collaborate with other retail outlets to facilitate the proliferation of the testing kit for at-home use.
Future Outlook for PRPO
With the world hurtling towards immunizations, PRPO’s testing kits greatly facilitate the process and reduce the burden on both care-givers and patients. The provision of convenient, safe, and reliable testing results is likely to find great demand, and PRPO is poised to leverage its resources to meet that demand and usher in unprecedented growth and increases in shareholder value.