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Precipio and Cardinal Health Sign Distribution Agreement for its HemeScreen® Portfolio of Molecular assays for Cancer

Key Takeaway: Precipio, Inc. has signed a distribution agreement with Cardinal Health for its HemeScreen molecular assay products. This partnership aims to enhance Precipio's distribution capabilities primarily within acute healthcare systems and laboratories. CEO Ilan Danieli expressed optimism about the collaboration, highlighting its potential to drive growth in 2024.
Price reaction · baseline $6.19 (2024-02-05 close) · hit pre-market · clean, no other PRPO news in the window
day 0 close
+8.2%
day 1 · peak
+11.6%
day 3
+2.7%

Market Sentiment Analysis

POSITIVE FACTORS

  • Partnership with Cardinal Health enhances distribution network.
  • Strengthens market position for Precipio's HemeScreen products.
  • Collaboration with established healthcare distributor.
  • Potential for growth in 2024.

Full Press Release Details

NEW HAVEN, CT, Globenewswire – (February 6, 2024) – Specialty cancer diagnostics company Precipio, Inc. (NASDAQ: PRPO) announces it has entered into a distribution agreement with Cardinal Health for its HemeScreen molecular assay products.
Under the agreement, Cardinal Health will market and distribute Precipio’s HemeScreen portfolio of molecular assays to its customer base, which comprises primarily the acute healthcare systems (hospital networks), as well as reference laboratories and physician owned laboratories.“The addition of this agreement with Cardinal Health, and alongside distribution agreements Precipio has with Fisher Healthcare and McKesson, strengthens our distribution network and positions us for growth in 2024”, said Ilan Danieli, Precipio’s CEO. “Cardinal Health is a formidable player in the market, and we are excited to work with them to deliver value to their customers, and to the patients they serve”.
About Cardinal Health
Cardinal Health is a distributor of pharmaceuticals, a global manufacturer and distributor of medical and laboratory products, and a provider of performance and data solutions for healthcare facilities. With more than 50 years in business, operations in more than 30 countries and approximately 48,000 employees globally, Cardinal Health is essential to care. Information about Cardinal Health is available at cardinalhealth.com .
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.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. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the targets set herein and related timing.
Except for historical information, statements about future volumes, sales, growth, costs, cost savings, margins, earnings, earnings per share, diluted earnings per share, cash flows, plans, objectives, expectations, growth or profitability are forward-looking statements based on management’s estimates, beliefs, assumptions and projections. Words such as “could,” “may,” “expects,” “anticipates,” “will,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “predicts,” and variations on such words, and similar expressions that reflect our current views with respect to future events and operational, economic and financial performance, are intended to identify such forward-looking statements. These forward-looking statements are only predictions based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the important factors discussed under the caption “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, Quarterly Report on Form 10-Q for the three months ended September 30, 2023, and our other reports filed with the U.S. Securities and Exchange Commission. Any such forward-looking statements represent management’s estimates as of the date of this press release only. While we may elect to update such forward-looking statements at some point in the future, except as required by law, we disclaim any obligation to do so, even if subsequent events cause our views to change. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.
Inquiries:

Frequently Asked Questions

What is the purpose of the agreement with Cardinal Health?

The agreement allows Cardinal Health to market and distribute Precipio's HemeScreen molecular assays.

Who will benefit from the distribution of HemeScreen products?

Acute healthcare systems, reference laboratories, and physician-owned laboratories will benefit.

How does this agreement impact Precipio's growth?

It strengthens Precipio's distribution network and positions the company for growth in 2024.

What is the significance of Cardinal Health in this agreement?

Cardinal Health is a major player in the market, enhancing Precipio's reach and customer value.

Last updated: Feb 6, 2024