Precipio’s Q4-2023 Cash Burn From Operations (unaudited) drops below $100K for the full quarter
Precipio, Inc. (PRPO)
US:NASDAQ Investor Relations:
precipiodx.com/investors.html
Company Research
Source: GlobeNewswire
NEW HAVEN, Conn., Jan. 23, 2024 (GLOBE NEWSWIRE) -- Specialty cancer diagnostics company Precipio, Inc. (NASDAQ: PRPO) announces that continued revenue growth generated cash levels that bring the company closer to breakeven. Cash Burn From Operations (CBFO) declined by over 90% from the previous quarter, from approximately $1M/quarter in Q3-2023 to below $100k/quarter in the following recent quarter Q4-2023. Precipio’s end of quarter cash balance changed from approximately $1.5M at the end of Q3-2024, to approximately $1.4M as of Dec 31, 2023. This was achieved without any significant increase in AP. While management is pleased with this accomplishment which continues to move the company forward towards breakeven, it cautions that Q1-2024 may not demonstrate the same results, for several reasons. First, the pathology business typically experiences a seasonal decline during the year-end holidays, which would impact revenue and cash receipts going into the start of Q1-2
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News
- Precipio Announces Year end 2023 Shareholder Update CallGlobeNewswire
- Precipio to Report $15.2M for FY-2023 (unaudited) Revenues, an increase of 60% YoY [Yahoo! Finance]Yahoo! Finance
- Precipio to Report $15.2M for FY-2023 (unaudited) Revenues, an increase of 60% YoYGlobeNewswire
- Precipio and Cardinal Health Sign Distribution Agreement for its HemeScreen® Portfolio of Molecular assays for CancerGlobeNewswire
PRPO
Sec Filings
- 4/17/24 - Form 4
- 4/17/24 - Form 4
- 4/17/24 - Form 4
- PRPO's page on the SEC website