Skip to main content
Premium Trial:

Request an Annual Quote

ProPhase Labs to Repurchase $6M of Common Stock

NEW YORK – ProPhase Labs said on Wednesday that its board of directors has authorized the repurchase of up to $6 million of the company's common stock, following a previous stock buyback program that expired in February.

The program enables repurchases to be made over a six-month period via open market or privately negotiated transactions, block trades, or any combination of the three. ProPhase's board will periodically reevaluate the current program and may authorize term adjustments, the firm said.

ProPhase has been building out several subsidiaries over the past two years, including the acquisition of direct-to-consumer genome testing firm Nebula Genomics in 2021. Last year, ProPhase also acquired Stella Diagnostics' BE-Smart Esophageal Pre-Cancer screening test, which, according to ProPhase CEO Ted Karkus, could be commercialized as a laboratory-developed test later this year. It could potentially be more broadly commercialized once the company obtains CPT codes for reimbursement, which Karkus said could occur within the next 12 months.

The Scan

Sick Newborns Selected for WGS With Automated Pipeline

Researchers successfully prioritized infants with potential Mendelian conditions for whole-genome sequencing or rapid whole-genome sequencing, as they report in Genome Medicine.

Acne-Linked Loci Found Through GWAS Meta-Analysis

Researchers in the European Journal of Human Genetics find new and known acne vulgaris risk loci with a genome-wide association study and meta-analysis, highlighting hair follicle- and metabolic disease-related genes.

Retina Cell Loss Reversed by Prime Editing in Mouse Model of Retinitis Pigmentosa

A team from China turns to prime editing to correct a retinitis pigmentosa-causing mutation in the PDE6b gene in a mouse model of the progressive photoreceptor loss condition in the Journal of Experimental Medicine.

CRISPR Screens Reveal Heart Attack-Linked Gene

Researchers in PLOS Genetics have used CRISPR screens to home in on variants associated with coronary artery disease that affect vascular endothelial function.