Precipio

The cancer diagnostics developer said it was undertaking the reverse stock split in order to meet the Nasdaq's $1 minimum bid price requirement.

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The university will use the technology to screen blood samples for certain clinically actionable mutations in non-small cell lung cancer patients.

Precipio said that its ICE COLD-PCR reagents will be sold with PerkinElmer's DNA/RNA extraction and isolation products.

The revenue growth was fueled by continued volume increases in Precipio's pathology services unit, which benefited from a recently expanded sales team.

The company had been warned in March that it failed to meet a listing requirement calling for a minimum $1 per share closing price of its common stock.

The company, which merged with Transgenomic in 2016, attributed the revenue increase to strong demand for its pathology services.