UPDATE: Baird Downgrades Progenity Inc. (PROG) to Neutral
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Progenity Launches Strategic Transformation into Biotech Company, Eliminating Costs of Progenity Genetics Lab and Focusing on Robust, Innovative R&D Pipeline
June 2, 2021 7:00 AM EDTClosure of genetics lab and other operational improvements expected to result in approximately 70% reduction of annual capital required for operations from more than $180 million currently to targeted operating expenses of ~$50 million in 2022
Continuing to seek opportunities to generate non-dilutive capital through partnerships and strategic alternatives for non-core assets, including Avero Diagnostics, which may help fund the company
Focused on delivering on exciting 2021 and 2022 R&D pipeline with the PreecludiaTM test, gastrointestinal (GI) health, and oral biopharmaceutical program milestones   Management to host webcast... More
Progenity Launches Strategic Transformation into Biotech Company, Eliminating Costs of Progenity Genetics Lab and Focusing on Robust, Innovative R&D Pipeline
June 2, 2021 7:00 AM EDTClosure of genetics lab and other operational improvements expected to result in approximately 70% reduction of annual capital required for operations from more than $180 million currently to targeted operating expenses of ~$50 million in 2022
Continuing to seek opportunities to generate non-dilutive capital through partnerships and strategic alternatives for non-core assets, including Avero Diagnostics, which may help fund the company
Focused on delivering on exciting 2021 and 2022 R&D pipeline with the PreecludiaTM test, gastrointestinal (GI) health, and oral biopharmaceutical program milestones
  ... More
