Precipio's Operational Efficiency Measures Continue To Reduce Cash Burn And Move The Company Towards Breakeven; Precipio Is Projected To Report Cash Burn Of $3.1M
Portfolio Pulse from Happy Mohamed
Precipio, Inc. (NASDAQ:PRPO) has announced significant reductions in its cash burn, projecting a cash burn of $3.1M for the six months ended June 30, 2023, a 26% YoY reduction. The company has identified opportunities for operational efficiency and cost-cutting initiatives that will contribute to the reduction in cash burn, including lab services economies of scale, in-house NGS testing, in-house billing, pathology interpretation restructuring, and reduced corporate expenses.
August 04, 2023 | 1:23 pm
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POSITIVE IMPACT
Precipio's operational efficiency measures and cost-cutting initiatives are expected to significantly reduce its cash burn, moving the company closer to breakeven.
The significant reduction in cash burn due to operational efficiency measures and cost-cutting initiatives indicates a positive financial outlook for Precipio, which could potentially attract investors and drive up the stock price in the short term.
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