Prophase Labs Inc Surges on Patent Approval and Partnership

Prophase Labs Inc's stock rose by 21.59% in pre-market trading, crossing above the 20-day SMA. This surge follows the company's recent achievement of full U.S. patent approval for its BE-Smart™ Esophageal Cancer Test, which targets a significant market size of up to $14 billion.

Additionally, Prophase Labs has formed a strategic partnership with Crown Medical Collections to recover over $50 million in COVID-19 receivables, which is expected to enhance its cash flow and overall financial health. The company also plans to commercialize the BE-Smart™ test and expand its product lines, potentially unlocking substantial shareholder value.

This positive momentum reflects Prophase's strong position in the genomics and consumer health sectors, particularly with its consumer genomics business, Nebula Genomics, which houses one of the largest DNA datasets globally.