Precipio, Inc. announced another 4-year agreement with a new customer to bring HemeScreen technology into their laboratory. Based on the customer's expected patient volume, with the addition of this customer, revenues in Q1-2023 are now estimated to be approximately 200% greater than Q1-2022, and the quarterly run rate for Q1-2023 is expected to increase by approximately 20% over the Q4-2022 quarterly run rate. These numbers are based on initial revenues from customers starting with one panel in their lab.

Both new customers and existing customers are expected to generate increased revenues beyond the numbers cited above, as customers add panels and grow their sample volumes. This customer will initially commence testing with Precipio's MPN panel, generating approximately $650,000 per year. As the customer both adds additional panels, and increases patient testing volume, they are projected to reach $2 million annually at full capacity.

Each HemeScreen customer and associated revenue dollar will have a substantial contribution to the reduction of company cash burn.