PRPO - Precipio terminates its equity line with Lincoln Park

As part of management’s review of its current financing arrangements, Precipio ([[PRPO]] +2.0%) terminated the equity line financing structure it had in place with Lincoln Park Capital.The equity line was used for funding day-to-day operations and cover its operational cash burn required for continuous growth of the company.In current situation, the management does not expect the need for additional capital raises of the type that Lincoln Park provided."We are now in a position where we have significantly extended our runway, and we anticipate that we will have the ability and the resources to rapidly grow the company without further capital raises to fund ongoing operations in the next 24 months," CEO Ilan Danieli commented.

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Precipio terminates its equity line with Lincoln Park