On December 3, 2019, Precipio, Inc. announced that its board of directors accepted the resignation of Mr. Samuel D. Riccitelli as Chairman of the Board and Audit Committee, effective December 1, 2019. Mr. Riccitelli resigned in order to focus on recently accepted position as Chief Executive Officer of Pathnostics, a diagnostics company focused on improving antibiotic stewardship through better diagnosis and treatment selection for patients suffering from urinary tract infections. Mr. Riccitelli did not advise the company of any disagreement with the company on any matter relating to its operations, policies or practices. On December 3, 2019, the Company elected Mr. Richard Sandberg to fill the vacancy left by Mr. Riccitellis resignation and to serve until the Companys 2020 annual meeting of stockholders or his earlier resignation, retirement or removal. Mr. Sandberg has served as a director, and, until June of 2019, chairman of Oxford Immunotec Global PLC since 2008. Effective December 3, 2019, the Board appointed Dr. Douglas Fisher as Interim Chairman of the Board and Ms. Kathleen LaPorte as Chairman of the Boards Audit Committee.
Precipio, Inc. is a healthcare biotechnology company that is focused on cancer diagnostics. It develops and sells diagnostic products, reagents and services that improve the accuracy and efficiency of diagnostics, and lead to fewer misdiagnoses. The Companyâs technologies include HemeScreen and IV-Cell. IV-Cell is a cell culture media that addresses the problem of diagnostic mistakes through the process of selective culturing. IV-Cell is a universal media that enables simultaneous culturing of all four hematopoietic cell lineages. Its technology enables testing to be completed in one rapid scanning process. The HemeScreen panels test for the presence of various mutations. In developing HemeScreen, it focused on improving the economics of providing blood cancer diagnostic tests and reducing laboratory technician time consumed in the testing process. The Companyâs laboratory and research and development (R&D) facilities are located in New Haven, Connecticut and Omaha, Nebraska.
PRECIPIO, INC. 
