PRPO - Precipio stock slumps 17% set to snap 3-day winning streak

Shares of specialty cancer diagnostics company Precipio (NASDAQ:PRPO) fell 17% on Tuesday, on track to snap a three-day gaining streak, after the company held its post-earnings call Monday evening. PRPO had risen over 21% on Monday. Last week, the company had reported its FY21 results, with its loss narrowing Y/Y and net sales rising 45.3% from a year ago. Precipio CEO Ilan Danieli on shareholder call mapped out 3 goals for the company for this year: to achieve a revenue run rate of $12M for its diagnostic services division and $10M for its product division, as well as to improve its balance sheet cash position. Danieli said the company ended Q1 2022 with $9.2M in cash, giving it about 5 quarters of runway. Up to Monday's close, PRPO stock has gained 6.3% YTD.

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Precipio stock slumps 17%, set to snap 3-day winning streak