Biotechnology companies are taking over the market. Most of the companies are changing their business and entering the biotechnology niche due to huge opportunity.
It has been one year, but the world is still struggling with the Covid-19 pandemic. Instead of demanding clothes and other luxury things, people are demanding medical supplies, vaccine and drugs.
Because of this reason, the value of biotech stocks is higher than all the other stocks. Precipio is one such biotech company that is ruling the market by launching new products.
What is Precipio?
It is a biotechnology company. They offer medicines for neurology, cardiology, inherited diseases as well as oncology.
Along with providing medicines, the company is also into research services. They provide these services to biopharmaceutical companies.
They are known for providing diagnostics accuracy. They have various techniques which help with diagnostics. This company was established in the year Nebraska.
There are many subsidiaries of this company. It is listed on NASDAQ as well. Most of the investors are taking an interest in this company as NASDAQ PRPO stock at https://www.webull.com/quote/nasdaq-prpo value keeps on surging. The value of the stock is $3.88.
Why Is NASDAQ PRPO Stock Price Increasing?
Like most of the biotechnology companies, PRPO stock was doing quite well in the last few months. However, in the month of May, the value of NASDAQ PRPO have further increased tremendously. There are two main reasons behind the rise in stock price.
- Launch of Covid-19 rapid Antibody Test:
Most people are struggling to get tested as the cases of infection have risen all around the world. Countries like India and Brazil are facing major burn. With the lack of availability of testing kits, people are not able to get tested. However, Precipio has launched a new test, which they are selling via Amazon. You can simply order the test from Amazon. It will take two working days to reach you. The testing kit helps you to get tested in just 20 minutes. This test is only available for physicians and medical professionals. With the launch of this test, the NASDAQ PRPO value surged by 32%. The gains of shareholders have increased by 170%.
- Launch of HemeScreen Panel:
Apart from launching an antibody test, the company have also launched HemeScreen Panel. It helps to detect leukaemia in a person. Oncology laboratories can use this panel to easily test patients for Acute Myeloid Leukemia. After launching this panel, the NASDAQ PRPO stock price surged by 32.81%. It reached a peak of $9.18 after making the announcement. Before the announcement, the price of the stock was $5.10.
You can check other stock like nyse oxy ws at https://www.webull.com/quote/nyse-oxy-ws before investing.