Precipio, Inc. (PRPO) stock prices were up by 15.63% as of the market closing on May 10th 2021, bringing the price per share surging to USD4.44. Subsequent pre-market fluctuations saw the stock further climb by 4.05% to hit USD$4.62.
Launch of AML HemeScreen Panel
PRPO recently announced the launch of its new Acute Myeloid Leukemia (AM) HemeScreen panel which is designed to specifically determine the genetics of this aggressive and acute form of leukemia. The four-hour HemeScreen will facilitate the rapid and precise selection of the most effective targeted therapies. The panel is expected to increase revenues of Oncology Physical office Labs (POLs) by 10%, with this profitability extending to PRPO as well.
Launch of Covid-19 Antibody Testing Kit
PRPO announced on May 3rd that it had successfully launched 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
The product is now available for purchase on Amazon’s website after having received EUA approval in December 2020. 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.
Details of Testing Kit
The testing kit serves to identify the presence of antibodies 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 the recurrence of the infection.
Scope of Testing Kit
One of the key benefits of 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 caregivers 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.