Mikey_Scali

Progenity (PROG) situation

NASDAQ:PROG   Progenity, Inc
Progenity Inc is a biotechnology company. It is engaged in developing and commercializing molecular testing products as well as innovating in the field of precision medicine. Revenue source is from Innatal, Preparent, and pathology molecular testing.

Recently announced $40 Million Private Placement (8-k)

Launches strategic transformation by eliminating costs of Progenity Genetics Lab and focusing on robust, innovative R&D pipeline.
With focuses on:
--> Cost-Focus
--> New opportunities and innovation
--> Continued development of GI-targeted therapeutics and oral biopharmaceuticals delivery system (OBDS)

A variety of "Analysts" state that PROG is either a buy or hold as they expect increases in revenue and EPS

Insider (Athyrium) buying since the 3rd around $47 millions dollars

A new fraud case has been opened against Officers and Directors of Progenity for over billing the US government by 10.3 million dollars