Precipio Takes Major Steps Toward a Clean Balance Sheet

Core Insights - Precipio, Inc. has significantly improved its balance sheet by repaying a $1.1 million advance from Change Healthcare and exercising all financial warrants, resulting in a debt-free status aside from a minor loan of approximately $80,000 [1][3][2] Financial Improvements - The company repaid a $1.1 million advance from Change Healthcare, which was initially provided to cover collections shortfalls due to a cybersecurity incident in 2024 [1] - Precipio maintains a small loan with the Connecticut Department of Economic and Community Development, with a principal amount of approximately $80,000, amortized at $3,000 per month and a 3.25% interest rate, to be fully paid by May 2028 [2] - All financial warrants issued during a 2023 financing have been exercised, with no further financial warrants outstanding [3] Operational Focus - The company emphasizes its commitment to profitable operations and a clean balance sheet, which reduces financial risk for shareholders [4] - Management is focused on executing its business strategy to grow the business, increase profit margins, and create sustained shareholder value [4] Company Overview - Precipio is a healthcare biotechnology company specializing in cancer diagnostics, aiming to address cancer misdiagnoses through innovative diagnostic products and services [5] - The company's products and services are designed to deliver higher accuracy and improved laboratory workflow, ultimately enhancing patient outcomes and reducing healthcare expenses [5]