Specialty cancer diagnostics company Precipio, Inc. (NASDAQ: PRPO),
announces the launch of its new quantitative BCR-ABL 2.0 panel,
with features making it the most innovative panel of its kind on
the market. For more information on this new panel please visit us
at https://tinyurl.com/QBCR-ABL1.
Patients with Chronic
Myeloid Leukemia (CML) have cells which contain an abnormal gene,
BCR-ABL1. This gene creates a hybrid protein that results in
uncontrolled cell division and genomic instability1. The
presence of the BCR-ABL1 oncogene confirms the diagnosis of CML; it
is also used for the monitoring of patients to gauge their response
to various therapies, and therefore is frequently tested in
laboratories.
The following features
make this product the most advanced BCR-ABL panel on the market,
besting competition in terms of robust coverage, workflow ease,
accuracy, and cost:
1. Industry leading clinical coverage improves
patient care. Precipio’s HemeScreen BCR-ABL 2.0 assay is the only
panel on the market that provides quantitative coverage of four
clinically relevant2,3 breakpoints – p.190, p.210, p.203 and p.230.
Most other products offer only single breakpoint detection. To the
patient, this means a higher level of accuracy by providing broader
testing coverage, ensuring they are put on the correct treatment.
2. ABL1 mutation detection removes the need for an
additional testing step. Upon finding a positive result, labs may
reflex to ABL1 sequencing to determine point mutations that may
impact treatment decisions. Precipio’s 2.0 assay will identify
point mutation clusters associated with specific therapeutic
indications, enabling a lab to bypass this additional
step.3. Unparalleled workflow simplicity reduces
labor time and cost. As with all HemeScreen assays, the reagents
come in either pre-plated reagents, or in free-flow form, with all
components pre-mixed. This creates unmatched simplicity for the lab
staff by avoiding mixing and pipetting reagents, and all that is
required is to pipette the extracted sample into the pre-plated
wells.
Furthermore, the new
BCR-ABL 2.0 panel will come with an automated analysis software
which will provide a direct analysis result that can be streamlined
directly into the laboratory’s LIS (lab information system) or the
practice’s EMR (Electronic Medical Records) system, removing the
manual analysis step and saving time and labor cost.
4. Superior sensitivity provides higher accuracy.
Precipio’s BCR-ABL assay can detect gene mutations as infrequent as
1 in 100,000. This is twice as sensitive as the next most sensitive
qPCR assay on the market.
By essentially
becoming a 1-stop platform for all molecular testing for blood
related cancers, HemeScreen has demonstrated its value to
laboratories looking to increase their offering while consolidating
and simplifying their workflow.
“The desire to
continuously improve our products and innovate our technologies,
guided by delivering the best diagnostic tools to benefit patient
care, is at the core of our R&D team, and is exemplified in
this new panel,” said Ilan Danieli, CEO of Precipio”. Laboratories
will not only be able to deliver better, more accurate results to
the patients they serve; they will be able to do so with an easier
workflow and more attractive economics, thereby hitting the
diagnostic product trifecta. We are excited to see this product
enter the market and help accelerate the market penetration for
HemeScreen, and our revenue growth.”
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.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, including, among others, statements related to
the expected or potential impact of the novel coronavirus
(COVID-19) pandemic, and the related responses of the government,
consumers, and the company, on our business, financial condition
and results of operations, and any such forward-looking statements,
whether concerning the COVID-19 pandemic or otherwise, involve
risks, assumptions and uncertainties. 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, subject to risks
and uncertainties, and actual results could differ materially from
those discussed. Important factors that could affect performance
and cause results to differ materially from management’s
expectations, or could affect the company’s ability to achieve its
strategic goals, includes factors that are described in the
sections entitled “Risk Factors” and “Management’s Discussion and
Analysis” in the company's Annual Report on Form 10-K for the
fiscal year ended December 31, 2022, as updated from time to time
in the company’s Securities and Exchange Commission filings.
The company’s forward-looking statements in this
press release are based on management’s current views, beliefs,
assumptions and expectations regarding future events and speak only
as of the date of this release. The company undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by the federal securities
laws.
1 www.cancer.org 2
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6498709/3
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2193055/
Inquiries:
investors@precipiodx.com
+1-203-787-7888 Ext. 523
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