ProPhase Labs Q1 net loss $6.3M; revenue drops to $3.6M; explores sale of Pharmaloz

ProPhase Labs, Inc.

2024-Q1 EPS reported -$0.35 revenue$3,634,000

Net loss of $6.3M ($0.07 loss per share) vs net income of $0.6M ($0.03 EPS) in Q1 2023.
Revenue declined 81% to $3.6M from $19.3M, driven by zero COVID-19 testing vs 120K tests year ago.
Pharmaloz Manufacturing exploring strategic alternatives including potential sale; signed two deals worth >$5M annual additional revenue.
BE-Smart esophageal cancer test on track for H2 2024 commercialization; Project ZenQ-AI launched using AI for cancer therapy.
Cash at April 30: $4.6M; raised $2.5M via receivables securitization and $3.6M from partial investment sale.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ProPhase Labs, Inc. reported financial results for first quarter ended March 31, 2024.

Period: first quarter ended March 31, 2024
Result: reported results

Exact text from the filing

On May 9, 2024, ProPhase Labs, Inc. (the “Company”) issued a press release announcing its financial results for the first quarter ended March 31, 2024.

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ProPhase Labs, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-018333

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