Precipio Presents Poster on HemeScreen® Study at Association of Molecular Pathology (AMP) 2022 Annual Conference

NEW HAVEN, Conn., Nov. 07, 2022 (GLOBE NEWSWIRE) -- Specialty cancer diagnostics company   presented at the annual a poster presentation of the results of a groundbreaking study, conducted in collaboration with faculty at the University of Pennsylvania. The study, expected to be published in detail early next year, demonstrates the superior results of Precipio’s HemeScreen® MPN panel when compared to Sanger Sequencing (considered the “gold standard” of molecular testing).

The study was co-authored by Dr. Christopher Sande, Resident Physician at University of Pennsylvania, Dr. Kojo Elenitoba-Johnson, formerly Professor of Pathology and Director of the Center for Personalized Diagnostics at the and currently Chair of the Department of Pathology and Laboratory Medicine at in New York City, and several members of Precipio’s scientific team.

The goal of the study was to assess the accuracy of the HemeScreen technology by conducting blinded, side-by-side evaluation of patient samples with known results using two technologies. In the study, 982 patient samples were tested for the same genes using HemeScreen MPN panel, and Sanger Sequencing, considered the platform with the highest level of reliability and accuracy.

The study demonstrated concordance of greater than 99% between the two technologies, with a variance of six samples where the HemeScreen assay detected a mutation, while the Sanger assay did not. This concordance, and the variance, are due to the increased sensitivity and specificity of the HemeScreen assay (2~5% Limit of detection for HemeScreen vs. 10~15% for Sanger). This outcome demonstrates the superior performance of HemeScreen over Sanger in terms of diagnostic accuracy.

As stated in the poster conclusions section, results demonstrated “exquisite accuracy, sensitivity and specificity of the HemeScreen MPN assay in detecting genetic variants observed in MPN”. Furthermore, the “technology offers an opportunity for a low-cost approach with a simplified workflow for laboratories while providing a quick turnaround time, and accurate results”. For more information and to view the complete poster, please .

“This is the first peer-reviewed poster on HemeScreen®, accepted by the most recognized association in our field, and we are honored to have collaborated with faculty at UPenn to present such exciting findings”, said Ilan Danieli, CEO of Precipio. “This poster solidifies the accuracy of the assay, and further highlights the benefits to laboratories of using this innovative technology. I’m proud to be part of the team that created a product that has already impacted thousands of patients”.

The AMP is globally recognized as the largest event focused on molecular diagnostics. Precipio’s booth was visited by dozens of potential and current customers, and the company has seen significant interest that will translate into continued growth of its business. The support of such an academically and clinically recognized association through the acceptance of its poster submission strengthens the value proposition of HemeScreen to the market.

About Precipio

Precipio has built a platform designed to eradicate the problem of misdiagnosis by harnessing the intellect, expertise and technology developed within academic institutions and delivering quality diagnostic information to physicians and their patients worldwide, as well as proprietary products that serve laboratories worldwide. Through its collaborations with world-class academic institutions specializing in cancer research, diagnostics and treatment, Precipio offers a new standard of diagnostic accuracy enabling the highest level of patient care. For more information, please visit.

Please follow us on , Twitter and on .

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, among others, statements related to the expected or potential impact of the novel coronavirus (COVID-19) pandemic, and the related responses of the government, consumers, and the company, on our business, financial condition and results of operations, and any such forward-looking statements, whether concerning the COVID-19 pandemic or otherwise, involve risks, assumptions and uncertainties. Except for historical information, statements about future volumes, sales, growth, costs, cost savings, margins, earnings, earnings per share, diluted earnings per share, cash flows, plans, objectives, expectations, growth or profitability are forward-looking statements based on management’s estimates, beliefs, assumptions and projections. Words such as “could,” “may,” “expects,” “anticipates,” “will,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “predicts,” and variations on such words, and similar expressions that reflect our current views with respect to future events and operational, economic and financial performance, are intended to identify such forward-looking statements. These forward-looking statements are only predictions, subject to risks and uncertainties, and actual results could differ materially from those discussed. Important factors that could affect performance and cause results to differ materially from management’s expectations, or could affect the company’s ability to achieve its strategic goals, include the uncertainties relating to the impact of COVID-19 on the company’s business, operations and employees and the other factors that are described in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis” in the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2021, as updated from time to time in the company’s Securities and Exchange Commission filings.

The company’s forward-looking statements in this press release are based on management’s current views, beliefs, assumptions and expectations regarding future events and speak only as of the date of this release. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by the federal securities laws.