Precipio Inc. (PRPO) stock prices were up by 5.52% as of the market closing on August 26th, 2021. This brought the price per share up to USD$3.63 at the end of the trading day. Subsequent premarket fluctuations have seen the stock dip by 5.79%, bringing it down to USD$3.42.
PRPO Stock’s Collaboration
August 26th, 2021 saw PRPO stock announce the signing of an agreement with American Oncology Network (AON). As per the agreement, the high-growth community oncology provider will integrate the company’s HemeScreen technology in its central lab locating in Fort Myers, Florida. This move will mark AON as the largest Physician-Owned Lab (POL) to bring Hemescreen into their lab so far. The impact on patient care will be substantial because of the network hosting more than 100 physicians and serving almost 100,000 unique patients every year.
Functionality of HemeScreen
The in-house operation of HemeScreen will enable AON to shorten the diagnostic turnaround time of the tests from 2-4 to as fast as 1-4 days. This has an obviously significant impact on patients waiting for their diagnosis to begin treatment. The shortening of diagnostic turnaround time also helps physicians who are waiting for results to decide on the appropriate treatment.
American Oncology Network Lab
The American Oncology Network lab is a cutting-edge facility that supports PRPO stock’s physicians across 17 states. AON boasts specialized expertise in oncology and hematology that serves to inform and direct the most effective care plan and clinical outcome for each patient. The leveraging of the company’s proprietary HemeScreen technology will allow for turnaround times that are significantly ahead of its competition. This results in the enabling of a quicker diagnosis, earlier patient treatment, and less mental stress for each patient.
Scope of PRPO Stock’s Partnership
The adoption of HemeScreen by AON consolidates the company’s ability to develop technology that leading innovative physicians utilize. The company is keen to capitalize on the expanded scope presented to it in its collaboration with a company of AON’s magnitude. The multi-year agreement will generate revenue in excess of USD$1 million every year. The continued development of additional panels by PRPO stock will provide AON with an opportunity to further expand the suite of assays run using HemeScreen.
Future Outlook for PRPO Stock
PRPO stock reported a strong quarter, consolidated by its most recent partnership with American Oncology Network. The company is keen to allocate resources towards the proliferation of its proprietary HemeScreen technology. Investors are hopeful that this will translate into significant and sustained increases in shareholder value.
