Precipio Reports $0.3M cash generated by operations (unaudited) in Q2-2024, as the company advances towards breakeven

Core Insights - Precipio, Inc. reported a non-GAAP Cash Burn/Generated from Operations (CBFO) of $0.3 million for Q2-2024, indicating a positive cash flow for the quarter, partly due to delayed cash collections from Q1 [1] - The company ended Q2-2024 with cash reserves of approximately $1.3 million and management is optimistic about reaching breakeven by the end of the year [2] - CEO Ilan Danieli expressed confidence in the company's financial independence and the intention to avoid dilutive transactions in the future, focusing on long-term shareholder value [3] Company Overview - Precipio is a healthcare biotechnology company specializing in cancer diagnostics, aiming to reduce cancer misdiagnoses through innovative diagnostic products and services [4] - The company's offerings are designed to enhance accuracy, improve laboratory workflow, and ultimately lead to better patient outcomes, thereby reducing healthcare costs [4] - Precipio develops and commercializes proprietary technologies that serve the global laboratory community, with a mission to eradicate misdiagnosis [4]