Precipio’s operational efficiency measures continue to reduce cash burn

Precipio announces significant reductions in its cash-burn. For the six months ended June 30, 2023, Precipio is projected to report cash burn of $3.1M, a reduction of $1.1M from $4.2M for the same period in 2022, or 26% reduction YoY. Q2-2023 cash burn has declined to $1.4M from $1.7M in Q1-2023, a decrease of 20% QoQ. The following are a few of the operational efficiency and cost-cutting initiatives that will contribute to the Company’s reduction in cash burn: Lab Services Economies of Scale; Bringing NGS testing in house; In-house billing; Pathology interpretation restructuring; Corporate expenses. “I am delighted to see the combination of revenue growth and operational efficiencies that together, are driving us towards lower cash burn and ultimately reaching breakeven,” said Ilan Danieli, CEO. “Company management is laser focused on these two efforts, and with each member of the team doing their share, we are heading in the right direction. I am excited to continue to deliver positive results to our shareholders.”