Precipio, Inc. (NASDAQ: PRPO)

Precipio, Inc. (PRPO) is a healthcare biotechnology company dedicated to cancer diagnostics. The company's mission is to tackle the widespread issue of cancer misdiagnoses by creating innovative diagnostic products and services. Precipio's offerings aim to provide higher accuracy, improve laboratory workflow, and lead to better patient outcomes, which ultimately reduce healthcare expenses.

The company's main business activities revolve around developing, manufacturing, and selling diagnostic products and services, primarily focused on blood-related cancers. Precipio operates CLIA laboratories in New Haven, Connecticut, and Omaha, Nebraska, where it provides essential blood cancer diagnostics to office-based oncologists across the United States.

Precipio generates revenue through the sale of its diagnostic products and services, which are marketed and sold directly to customers or through distributors. The company's primary products include HemeScreen and IV-Cell. HemeScreen is a proprietary panel of disease-specific reagents that provides a simple workflow, is easy to use, and creates attractive economics for laboratories. It is designed to test for the presence of various mutations in blood cancer patients and has been validated in Precipio's laboratory. IV-Cell, on the other hand, is a proprietary cell culture media that addresses the problem of diagnostic mistakes through the process of selective culturing. It is an all-in-one product that includes a base media plus all necessary mitogens, enabling the simultaneous culturing of all four cell lineages.

In the highly regulated healthcare industry, Precipio's products and services are subject to various laws and regulations, including those related to reimbursement, Medicare and Medicaid, and healthcare reform. Despite the stringent regulations, Precipio has managed to establish a competitive advantage through its ability to identify real-world clinical challenges in the laboratory, develop technology-based solutions to those challenges, and commercialize the technology and bring it to market.

In terms of competition, Precipio faces competition from various companies that specialize in oncology and offer directly competing services to its diagnostic services. These include NeoGenomics Laboratories, Inc., GenPath Diagnostics, and Inform Diagnostics. Precipio also competes with large commercial companies that offer a wide variety of laboratory tests, such as LabCorp and Quest Diagnostics. However, Precipio's hands-on experience as first-users of its own products provides unparalleled expertise and support to customers, setting it apart from its competitors.