Prophase Labs Inc's stock rose by 21.59% in pre-market trading, crossing above the 20-day SMA. This surge follows the company's recent achievement of full U.S. patent approval for its BE-Smart™ Esophageal Cancer Test, which targets a significant market size of up to $14 billion.
Additionally, Prophase Labs has formed a strategic partnership with Crown Medical Collections to recover over $50 million in COVID-19 receivables, which is expected to enhance its cash flow and overall financial health. The company also plans to commercialize the BE-Smart™ test and expand its product lines, potentially unlocking substantial shareholder value.
This positive momentum reflects Prophase's strong position in the genomics and consumer health sectors, particularly with its consumer genomics business, Nebula Genomics, which houses one of the largest DNA datasets globally.
ProPhase Labs, Inc. is a biotech, genomics, and consumer products company. The Company is engaged in providing whole genome sequencing solutions, diagnostic development, such as its potentially life-saving test for the early detection of esophageal cancer and a direct-to-consumer marketing platform for OTC dietary supplements. It develops, manufactures, and commercializes health and wellness solutions. Its Diagnostic services segment provides diagnostic information services to a range of customers in the United States, including health plans, third-party payers and government organizations. Its Consumer products segment is engaged in the research, development, manufacture, distribution, marketing and sale of OTC consumer healthcare products and dietary supplements in the United States and provides personal genomics products and services. The Company also develops and markets dietary supplements under the TK Supplement brand, which includes Legendz XL and Triple Edge XL.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
