"data-reacti NEW HAVEN, Conn., April 29, 201
The contract initially envisages sending patient biopsies for primary diagnosis and secondary (consultation) opinion. The proposed collaboration will continue to include the establishment of a laboratory facility in Egypt to license Precipio's proprietary technologies for conducting liquid biopsy testing using ICE-COLD PCR technology and HemeScreen for hematological molecular biology testing.
Based on historic volumes, Precipio expects significant revenue in the first year. Once Precipio's liquid biopsy and HemeScreen tests are available in Egypt, Precipio's testing revenues will increase significantly. Initial test sales are expected to begin by the end of the second quarter, with several setup, logistics and regulatory tasks completed.
This service contract is another example of the rapid and effective introduction of Precipio's global initiative that enables Precipio to deliver world-class pathology services using the expertise of leading, seasoned cancer pathologists from members of its academic network such as Yale, Harvard and the University of Pennsylvania.
<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Financial Impact on Precipio "data-reactid =" 16 "> Financial Impact on Precipio
The company expects that in the second half of 2019 consolidated sales and gross profit will be substantially increased, assuming that the required logistics and compliance Requirements are met. Accordingly, the expected increase in sales resulting from the growth of our domestic business together with the worldwide sales volume Precipio will make it possible to optimize economies of scale. Early estimates suggest that the gross profit margin for H2-2019 will improve by 20 to 25 points. while benefiting from the prepaid cash aspect of international business (as opposed to domestic reimbursement challenges). Therefore, management assumes that the company's cash burn will decrease in a similar manner.
Overall, Precipio believes that these factors taken together will have a positive impact on the break even point of the company. and reducing the capital requirements of the company.
Access to Precipio's network of pathology experts enables physicians to benefit from the Precipio delivery model, which provides more accurate diagnoses that allow more targeted treatment options. By accessing some of the advanced technologies developed by Precipio, laboratories in Egypt may be able to improve their value creation for their patients through innovative testing.
"I am pleased that the benefits of our international efforts are beginning to benefit from Precipio's platform and technologies and provide patients worldwide with the highest level of experience," said Ilan Danieli. CEO of Precipio. "The international segment of our business will make a valuable contribution to sales, margins and cash flow in the coming quarters."
<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt ( 0.8em) – sm "type =" text "content =" About Precipio "data-reactid =" 21 "> About Precipio
<p class =" canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" Precipio has created a platform that can eliminate the problem of misdiagnosis through the use of data The intellect, The know-how and technology developed in academic institutions provides high-quality diagnostic information to physicians and their patients worldwide, through collaboration with world-class academic institutions specializing in cancer research, diagnostics and treatment, such as Yale School of Medicine and the Farber Cancer Institute, Precipio, provides a new standard for diagnostic accuracy that allows for the highest levels of patient care. For more information, visit www.precipiodx.com . "data-reactid =" 22 "> Precipio has created a platform to eliminate the misdiagnosis problem by leveraging the intellect, expertise and technology developed in academic settings to provide high-quality diagnostic information to physicians and their patients worldwide By partnering with world-class academic institutions specializing in cancer research, diagnostics and treatment, such as the Yale School of Medicine and the Dana-Farber Cancer Institute of Harvard, Precipio sets a new standard for diagnostic accuracy to the highest standards For more information, visit www.precipiodx.com .
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Certain statements in this news release constitute "forward-looking statements" within the meaning of federal securities laws, including related financial projections and potential market opportunities, plans and perspectives, and other statements that may "anticipate," "intend," "may," the words , "plan", "include" forecasts, "will", "would", "could", "should", "should" and similar expressions could constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The actual results of the company may differ materially from those anticipated in these forward-looking statements due to various factors. Factors that could cause future results to differ materially from the most recent results or results projected in the forward-looking statements include the known risks, uncertainties and other factors discussed in the Company's Annual Report on Form 10-K for the year ended 31 December Described December 20, 2018 will be filed on April 16, 2019 as well as earlier company filings and from time to time in subsequent filings with the Securities and Exchange Commission. Any change in such factors, risks and uncertainties may cause actual results, events and performance to differ materially from those set forth in these statements. All information in this release relates to the date of publication and the company undertakes no obligation to update this information, including any forward-looking statements, except as required by law.
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