Business
Precipio Signs Another HemeScreen™ Customer
Customer’s revenues expected at $750K at full capacity NEW HAVEN, Conn., May 04, 2023 (GLOBE NEWSWIRE) -- Specialty cancer diagnostics company Precipio, Inc.
About this update from Precipio, Inc.
[{"type":"text","content":"Customer’s revenues expected at $750K at full capacity\nNEW HAVEN, Conn., May 04, 2023 (GLOBE NEWSWIRE) -- Specialty cancer diagnostics company Precipio, Inc. (NASDAQ: PRPO) announces another agreement with a new customer to bring HemeScreen™ technology into their laboratory. With each additional customer, Precipio continues to execute on its strategy, converting pipeline prospects to actual customers, and progressing towards breakeven. The company incurs virtually no additional costs for the onboarding and maintenance of new customers, except for COGS and associated production costs, which represent a relatively low cost of goods, generating a healthy margin for the Company. Because our cost and business structure for the Products Division is largely fixed, each new customer has a substantial financial impact and contribution to the bottom line. “As promised, we continue to convert our pipeline of potentials into actual signed customers, adding to the building blocks of recurring revenue, with each customer helping to reduce our cash burn, and bringing us closer to our breakeven goals,” said Ilan Danieli, Precipio’s CEO. “Shareholders can expect more of these customers joining the ranks of our HemeScreen family, as we continue to support our customers in providing better patient care and improved economics through our proprietary technologies.” About Precipio Precipio has built a platform designed to eradicate the problem of misdiagnosis by harnessing the intellect, expertise and technology developed within academic institutions and delivering quality diagnostic information to physicians and their patients worldwide, as well as proprietary products that serve laboratories worldwide. Through its collaborations with world-class academic institutions specializing in cancer research, diagnostics and treatment, Precipio offers a new standard of diagnostic accuracy enabling the highest level of patient care. For more information, please visit www.precipiodx.com. Please follow us on LinkedIn, Twitter @PrecipioDx and on Facebook. Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, among others, statements related to the expected or potential impact of...