PRPO - Earnings call transcript Q2 2020

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product the The of side. our second part business is

benefits laboratories them processes other as and technologies. that same bring any we always company. improvements, and our laboratory the for road of implement are of laboratory we to introduced successfully we patient technologies with on not are Over rather developed, both new two to laboratory and diagnostic the patients that developing of for efficiency bumps could broader the in or began market, financial as well to to the years care identified accuracy used labs only we being and provide, and upgraded you things our the process. opportunities for being technologies, the Like the achieving these diagnosed novel IV-Cell impact from improve product both been course so the services market, HemeScreen our benefits year, have by Last couple and that learn as the several patented there are also examples past commercialize of of our we HemeScreen those years. which to IV-Cell technologies to in

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X market. through the and expect the mentioned we're and working media. with First, the launch embarked development testing of a from going by year have ready We're some of feedback stages final market we IV-Cell, on major Version the received as of previously, we end. to product the of And laboratories within

laboratories existing the we've exploring to Version partnerships with. market. been been this X to even strategic working more believe channels Additionally, We order in to utilize several bring provide product we've to distribution value that will

existing already laboratories is these leveraging large selling than that way salesforce, distribution to the channel, We rather an our that partnership to product also a quickly distribution bringing right of in a terms believe own. market into go with company is building by the

is to of market. goal accelerate product Our adoption our in the the

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provides solution. model perfect Rental Reagent HemeScreen the Our

to strong to has our internal major believe next impact market. research and And margins delivers expect services to onboarded good of given a and a well, we show revenue financials. the efforts, introduction an the on partnerships as products channel addition to product significant with can the be rapid continued the cash segment pipeline. a healthy to team months accelerate the in and product sales both player internal customers side we've several partnership much that in advantageous alongside the HemeScreen growth of has penetration Our already anticipate diagnostic Therefore, like that a will With market. that businesses with sales a substantial developing company's our have recognized flow, existing IV-Cell, we developing a distribution for we of strategic that our the very of have balance the the in products between business XX We and into sales. shift

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a a our then of times submit were So some FDA from discuss up when product to and let sent regulatory and may in of take the the anywhere ordinary approval, with that for me two for five questions to try submission including the years. market by timeline landscape. wishes to company approval the potential those the product and of I'll begin FDA typical processing address rollout. is In

and the utilized process rapidly to pandemic, Emergency to an accelerated COVID-XX the to authorization created EUA companies other During market. and the serology process develop the tests wishing called Authorization grant and to Use introduce FDA

types issued diagnostic for detecting There diagnostic pandemic of the permits COVID-XX. first During or few of months this types FDA of for tools two early the the the year, EUA antibodies. of either presence in to main several the the tests various are virus breakout presence

the the indicates person runs first the the the a virus. PCR. new not a contracted if of the recently will by testing are a products use It that person nasal of whether It at saliva the test laboratory, swab sick. the get called contracted virus develop has time the the indicates virus. symptoms does whether sample, samples using or only steps into has collected indicate a This test presence test. the collecting using and is person for This platform a usually Those which done a The sample. there few is have typically sent and been

the antibody so they in. basically begins a again the keep the not one the allow out ever test. second the antibodies. is of took same virus infection. This virus, to person Simply get But of we to virus, will, so-called exposed mechanism, is that person's if type exposed is test is will shield, defense this for after The has if type developing that, after shield the to body that the work you and that interest the various in remain Research appear the present which its weeks includes antibodies the levels Once been the form in of rid This long-term. creates shown immunity. initially that the has exposure the it body preventative will body the one body. typically and to antibodies put, anywhere virus from creation a in to those in the virus three antibodies body

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we their the put plan As marks B, on. to a realize receiving product and develop process executed began around which question EUA proceeded, that there to were recently so we we

other as As Biotec antibody the well with test COVID-XX them to markets announced, by the agreement we recently an worldwide. serology signing we’ve authorized with ADS U.S. in distribute partnered FDA as

currently are mentioned, is into tests conducted As with test for first to step a strictly to the pathology provide test patients laboratory base that the the authorization the their our FDA every only providing customers, our first who coming offer customer was practice day. Therefore, EUA the this to setting.

received was has The and couple a strong ago launched acceptance. first step weeks

secret the will self-use However, a allow to next natural to and tests. and normal the worldwide the U.S. for that point-of-care laboratory reopen, to both to for step of expand FDA economy it's enable and authorization capacity the of for order the in of of believe in needed to We in to huge the these be no number to life. gap all and that U.S. strongly course there's the ultimately resume and reopen logical economy tests us a between the EUA

to Our test product serve self-administered was serology serve to ultimately as our demand. that we and designed well-positioned believe a test is

couple order we the of be self-use Over weeks, completing quality began point-of-care and the the months tests in of to will a that our study ago a few next environment. demonstrate we in

the Many are on the We them these make submit processes applications self-use. requirements public the for upon necessary initially, we follow also FDA the standards the by to the But allowing outlined utility you the why the asked study expanded FDA. results. our complete. use the expand and frowned don't of the Therefore, is meet point-of-care before review we then outlined not applications. and have ability has the FDA of publicizing product’s yet we when haven't to reason the first. comply with we in is the Part FDA companies shared study? And We results to the that confident FDA allow to these of results want study for additional before provide tests will companies for we information sure know their to to that

a question an with if. this is believe However, we the of on based FDA when, the not that dialogue

for be ready soon of the to that are opens per and button initiative various so kits production will EUA a channels as in self-use, the generate these by day. lining as as From the ways, will many both ready the to our from currently is distraction this up received, parallel, have in new go. capacity, a a potential position hit test In our viewed study Our expanded well to COVID to business. for up goal distribution from option. these FDA data distribution X tests as as have use some In applications go can and once for the able point-of-care to be we we million place be we core have we

off appreciate eye areas that by the this business the with can alongside to have ongoing our COVID as initiative. our business, As respect and I growth taken our shareholders hope to ball not well, in you continue see of results our grow those our we core our quarter quarterly from and

same economically In capitalize a we may However, opportunity a community bring for world battle to Furthermore, challenges market feel that the a the a the the testing in new in through will in and generate COVID company growth we a we our live gain have not diagnostic we're we the testing feel to U.S. the advantageous position and shareholders. we’ve the only we to manner. and this products positioned be tremendous I given also situation, to to the the of in summary, and the also summer, could business company, a responsibility but levels to to be overcome opportunity. that our believe healthcare to member contribute that market in Midway see continue face to an our that we contribution our deficiency we bring bottom-line share huge tremendous as value on feel

deliver and to you continue will nice families, for thank expectations growth our a Thank I wish the this ongoing safety. our the have of quarter throughout of We you evening. hard work company and and ongoing to realize revenue and and value. shareholder potential health to you your and to and your support want

Precipio (PRPO) 17 Aug 202020 Q2 Earnings call transcript