PRENETICS GLOBAL LIMITED


Associated tags: Genomics, ACT, Ecosystem, Pharmaceutical industry, COVID-19, EBITDA

Locations: SINGAPORE, TAIWAN, ASIA, US, THAILAND, TOKYO, JAPAN, HONG KONG, UK

Prenetics Announces Second Quarter 2023 Financial Results

Retrieved on: 
Friday, September 15, 2023
ACT, Minimal residual disease, MRD, Clinical trial, EBITDA, Partnership, Investment, Genomics, Rare-earth element, Pharmaceutical industry

HONG KONG, Sept. 15, 2023 (GLOBE NEWSWIRE) -- Prenetics Global Limited (NASDAQ: PRE) (“Prenetics” or the “Company”), a leading genomics-driven health sciences company, today announced financial results for the second quarter ended June 30, 2023, along with recent business updates.

Key Points: 
  • HONG KONG, Sept. 15, 2023 (GLOBE NEWSWIRE) -- Prenetics Global Limited (NASDAQ: PRE) (“Prenetics” or the “Company”), a leading genomics-driven health sciences company, today announced financial results for the second quarter ended June 30, 2023, along with recent business updates.
  • Prenetics provided US$100m in consideration, with US$80m in cash and US$20m of shares in Prenetics.
  • ACT Genomics is expected to launch a 500-gene panel and a 100-gene panel comprehensive genomic profiling “liquid” biopsy test by the fourth quarter of 2023.
  • Significant improvement in operational efficiency and cost optimization, reducing adjusted EBITDA from continuing operations from a loss of US$(9.8) million in the first quarter of 2023 to US$(5.3) million in the current quarter with further reductions expected in the second half of 2023.

Prenetics and Globally Renowned Scientist Prof. Dennis Lo Establish US$200m Joint Venture "Insighta" for Breakthrough Multi-Cancer Early Detection Screening

Retrieved on: 
Monday, June 26, 2023
ACT, Faculty, DNA, Commercialization, Communications and Information Technology Commission (Saudi Arabia), UBS AG, Workflow, Survival, Holy Grail, Liquid biopsy, Clinical trial, Cancer, Liver, Global health, Innovation, Genomics, Chinese University of Hong Kong, Mother, Science, University of Hong Kong, Plasma, Death, Chinese, University of Toronto Faculty of Medicine, Royal Medal, CUHK, UBS, Ageing, Lasker, Research, Health, Royal Society, NIPT, Dean (education), Cryptocurrency, Video game, Film industry, Pharmaceutical industry, Vaccine, Cirina, Illumina, Medicine

-- Insighta is a 50/50 Joint Venture by Prenetics and Professor Dennis Lo.

Key Points: 
  • -- Insighta is a 50/50 Joint Venture by Prenetics and Professor Dennis Lo.
  • -- By 2030, the early cancer detection screening opportunity is estimated to be US$6bn in Asia on an annual basis.
  • The joint venture will be governed by a six-person board of directors composed of three directors from each side, with Prof.
  • From prevention (CircleDNA) and early detection (Insighta) to treatment (ACT), our innovative approach promises to significantly raise the bar in healthcare."

Prenetics Announces Formation of Scientific Advisory Board to Support New Business Strategy in Precision Oncology

Retrieved on: 
Saturday, March 4, 2023

The SAB includes a diverse group of highly respected experts in oncology and genomics, each with unique expertise and backgrounds in the field of precision oncology.

Key Points: 
  • The SAB includes a diverse group of highly respected experts in oncology and genomics, each with unique expertise and backgrounds in the field of precision oncology.
  • "We are honoured to have these accomplished scientific thought-leaders join Prenetics' SAB," said Danny Yeung, CEO and Co-Founder of Prenetics.
  • "Their insights and experience will be an invaluable asset to fuel our innovative solutions in the field of precision oncology.
  • Precision oncology is a rapidly evolving field, and I believe that Prenetics is well-positioned to make a significant impact in this area.

Cantor Fitzgerald Initiates Coverage on Prenetics with "Overweight" Rating

Retrieved on: 
Thursday, January 26, 2023
Ecosystem, Overweight, Sound, Tutoring

HONG KONG, Jan 26, 2023 - (ACN Newswire) - It is reported that Cantor Fitzgerald initiated coverage on Prenetics Global (PRE.US) with "Overweight" rating and target price at USD7.00.

Key Points: 
  • HONG KONG, Jan 26, 2023 - (ACN Newswire) - It is reported that Cantor Fitzgerald initiated coverage on Prenetics Global (PRE.US) with "Overweight" rating and target price at USD7.00.
  • Cantor Fitzgerald holds a favorable view of the consumer and clinical testing markets, with Prenetics' focus on diagnostic and preventive testing coupled with personalized and primary care facilities to address a global market opportunity of over $200 billion.
  • Prenetics looks to add new tests to its platform through acquisitions and partnerships, resulting in faster time to market and a comprehensive healthcare ecosystem in a not-so-distant future.
  • Meanwhile, with Prenetics' ecosystem coming together and being able to uniquely demonstrate profitability given its lower operating expenses and R&D expenses relative to peers, Cantor Fitzgerald thinks Prenetics' shares are also attractively valued.

Prenetics Owned ACT Genomics Receives FDA Clearance for ACTOnco, the First Asia-Based Company to Receive Clearance for a Comprehensive Genomic Profiling Test for All Solid Tumors

Retrieved on: 
Wednesday, January 11, 2023
ACT, Disease, Cancer, Regulation of food and dietary supplements by the U.S. Food and Drug Administration, Precision medicine, Breast, Colon, FDA, Lung, Genomics, Neoplasm, Food, Therapy, Patient, Physician, Pharmaceutical industry, Dietary supplement

ACTOnco is intended for use by healthcare professionals to help them inform clinical management decisions in accordance with professional guidelines for cancer patients with solid tumors.

Key Points: 
  • ACTOnco is intended for use by healthcare professionals to help them inform clinical management decisions in accordance with professional guidelines for cancer patients with solid tumors.
  • This is the first and only Asia-based company to receive FDA clearance for a comprehensive genomic profiling test.
  • ACT Genomics is the first biotech company in Asia that received market authorization for a cancer comprehensive genomic profiling assay.
  • With this incredible milestone achieved, we will continuously promote precision medicine in Asia and our company mission to turn genomics into action."

Prenetics Acquires ACT Genomics; First M&A Deal since IPO, Set to Expand Footprint in Cancer Genomics

Retrieved on: 
Friday, December 16, 2022
ACT, Acquisition, Immunotherapy, Oncology, Genetic testing, Colorectal cancer, Liquid biopsy, Park, D, DNA sequencing, Guangdong-Hong Kong-Macau Greater Bay Area, Informatics for Consumer Health, Government, Genomics, PRE, Medicine, Cancer, CAP, Laboratory, HKSTP, Algorithm, Hong Kong Science and Technology Parks Corporation, Health, Pan-Asia, COVID-19 testing, Growth, NGS, COVID-19, Patient, Science park, Drug resistance, Pharmaceutical industry, Medical imaging

That is the first M&A deal Prenetics is to make since its listing, which will expand its footprint in the cancer genomics space, bringing it closer to realizing the vision of building an end-to-end health ecosystem.

Key Points: 
  • That is the first M&A deal Prenetics is to make since its listing, which will expand its footprint in the cancer genomics space, bringing it closer to realizing the vision of building an end-to-end health ecosystem.
  • With the acquisition well underway, effective from January 1, 2023, Professor Tony Mok, Chairman of ACT, will join Prenetics Scientific Advisory Board.
  • Professor Tony Mok, Chairman of ACT Genomics, said, "We are very pleased to join forces with Prenetics.
  • ACT Genomics is an innovation-driven cancer solution provider with offices in Taipei, Hong Kong, Singapore, Tokyo, Bangkok and UK.

Prenetics Announces US$20 Million Stock Repurchase Program and Inclusion into the MSCI Global Micro Cap Index

Retrieved on: 
Wednesday, November 30, 2022
COVID-19, COVID-19 testing, EBITDA, Colorectal cancer, Genetic testing, Ecosystem, MSCI, Share repurchase, Diagnosis, Environmental impact of pharmaceuticals and personal care products, HK

Following the inclusion of Prenetics, there will be a total of 17 HK-headquartered companies included in this Hong Kong index.

Key Points: 
  • Following the inclusion of Prenetics, there will be a total of 17 HK-headquartered companies included in this Hong Kong index.
  • According to MSCI, the entire MSCI Global Micro Cap index includes a total of 299 constituents in 22 developed markets (with Hong Kong included).
  • It is widely recognised as a benchmark for global institutional investors to optimise their investment portfolios especially passive index funds.
  • In addition, Prenetics' inclusion in the MSCI Global Micro Cap Index (Hong Kong) represents a key milestone and reflects the confidence of stakeholders in the Company's long term growth strategy.

Prenetics Announces Record Third Quarter 2022 Financial Results and Raises Full Year 2022 Revenue and EBITDA Guidance

Retrieved on: 
Thursday, November 10, 2022
Ecosystem, Review, Genomics, Genetic testing, Forward-looking statement, Exchange, International Financial Reporting Standards, HSBC, Knowledge, Colorectal cancer, Adjusted gross income, COVID-19 testing, Depreciation, COVID-19, Securities Act of 1933, Holocene, Mission statement, SEC, COVID, NASDAQ, Environmental impact of pharmaceuticals and personal care products, U.S. Securities and Exchange Commission, International, EBITDA, Company, Reconciliation (accounting), Patient, Growth, CEO, Table, Qatar Financial Information Unit, Industry, Diagnosis, Securities Exchange Act of 1934, Tutoring, Bookkeeping, Audit, Security (finance), Operation, Adjustment

Prenetics provides guidance based on current market conditions and expectations for revenue and adjusted EBITDA, which is a non-IFRS financial measure.

Key Points: 
  • Prenetics provides guidance based on current market conditions and expectations for revenue and adjusted EBITDA, which is a non-IFRS financial measure.
  • For full year 2022, Prenetics raises revenue guidance to the range of US$270 million to US$280 million and raises full year adjusted EBITDA guidance to the range of US$47 million to US$53 million.
  • Unaudited Financial Information and Non-IFRS Financial Measures has been provided in the financial statements tables included at the end of this press release.
  • An explanation of these measures is also included below under the heading "Unaudited Financial Information and Non-IFRS Financial Measures."