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Wednesday, May 25, 2022

Progenity Inc (PROG) stock plunged in the pre-market. Here’s the reason

The stock of Progenity Inc (PROG) closed the recently traded session at $1.60 after gaining 11.89% from the previous trading session. The PROG stock plunged during the pre-market and lost 5.00% to $1.52. PROG stock kept oscillating between $1.50 and $1.67 during the recently traded session. There is no recent news for the company. Earlier this month, on 10 March 2022, PROG declared the progress of its preliminary study. The company’s latest filing with the SEC was on 17 February 2022. Progenity filed form 4 with the SEC to report beneficial ownership in the securities.


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PROG News

On 10 March 2022, the firm declared the progress of its study, assessing the device capacity and wellbeing of its Drug Delivery System (DDS) container. Progenity’s first clinical device execution concentrated on assessing the security and bearableness of its DDS case and approval of the device’s confinement and conveyance work in healthy volunteers. The DDS case was swallowed orally. It delivered a saline solution that incorporated radioisotopes. Scintigraphic imaging was utilized to demonstrate the device’s confinement and payload conveyance to the lower GI plot.

The CEO of PROG, Adi Mohanty, stated that they are currently enrolling patients with dynamic ulcerative colitis to keep assessing the exhibition of their clinical device. He further added that These investigations are significant stages toward their objective of starting a restorative intercession preliminary for their PGN-600 program to assess conveyance of therapeutics straightforwardly to the site of illness in patients experiencing ulcerative colitis.

Moreover, the firm declared the acknowledgment of three modified works on the treatment of IBD and microbiome inspecting for a show at Digestive Disease Week® (DDW). DDW is the world’s head meeting for doctors, specialists, and industry in the areas of gastroenterology, hepatology, endoscopy, and gastrointestinal medical procedure.

Further, Progenity will release the fiscal performance for Q4 and FY21 on 28 March 2022 after the closing of the market.

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