<SEC-DOCUMENT>0001193125-17-342585.txt : 20171114
<SEC-HEADER>0001193125-17-342585.hdr.sgml : 20171114
<ACCEPTANCE-DATETIME>20171114161802
ACCESSION NUMBER:		0001193125-17-342585
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20171108
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20171114
DATE AS OF CHANGE:		20171114

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Precipio, Inc.
		CENTRAL INDEX KEY:			0001043961
		STANDARD INDUSTRIAL CLASSIFICATION:	LABORATORY ANALYTICAL INSTRUMENTS [3826]
		IRS NUMBER:				911789357
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36439
		FILM NUMBER:		171201787

	BUSINESS ADDRESS:	
		STREET 1:		12325 EMMET ST
		CITY:			OMAHA
		STATE:			NE
		ZIP:			68164
		BUSINESS PHONE:		4027385480

	MAIL ADDRESS:	
		STREET 1:		12325 EMMET STREET
		CITY:			OMAHA
		STATE:			NE
		ZIP:			68164

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TRANSGENOMIC INC
		DATE OF NAME CHANGE:	20000119
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d498104d8k.htm
<DESCRIPTION>FORM 8-K
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>WASHINGTON, D. C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">8-K</FONT> </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT
REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>PURSUANT TO SECTION 13 OR 15(d) OF THE </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES EXCHANGE ACT OF 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of report (Date of earliest event reported): November&nbsp;8, 2017 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>PRECIPIO, INC. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact
Name of Registrant as Specified in Its Charter)</B><B><I> </I></B><B> </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">001-36439</FONT></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">91-1789357</FONT></B></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>(State of Incorporation)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Commission File Number)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(I.R.S. Employer Identification No.)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>4 Science Park, New Haven, CT 06511 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive offices) (Zip Code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(203) <FONT STYLE="white-space:nowrap">787-7888</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s telephone number, including area code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not Applicable </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former
name, former address and former fiscal year, if changed since last report date) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below
if the Form <FONT STYLE="white-space:nowrap">8-K</FONT> filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule <FONT STYLE="white-space:nowrap">14a-12</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14a-12)</FONT> </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT STYLE="white-space:nowrap">14d-2(b)</FONT> under the Exchange Act (17 CFR
<FONT STYLE="white-space:nowrap">240.14d-2(b))</FONT> </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT STYLE="white-space:nowrap">13e-4(c)</FONT> under the Exchange Act (17 CFR
<FONT STYLE="white-space:nowrap">240.13e-4(c))</FONT> </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as
defined in Rule 405 of the Securities Act of 1933 or Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Securities Exchange Act of 1934. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Emerging
growth company&nbsp;&nbsp;&#9744; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition
period for complying with any new or revised financial accounting standards provided pursuant to Section&nbsp;13(a) of the Exchange Act.&nbsp;&nbsp;&#9744; </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;5.02</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. </B></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Departure of Robert M. Patzig </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Effective
November&nbsp;8, 2017, Robert M. Patzig resigned as the standing Chairman of the Board of Directors (the &#147;Board&#148;) of Precipio, Inc. (the &#147;Company&#148;) and as a member of the Board. Mr.&nbsp;Patzig did not advise the Company of any
disagreement with the Company on any matter relating to the Company&#146;s operations, policies or practices. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Appointment of New Chairman </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On November&nbsp;8, 2017, the Board unanimously voted to appoint Samuel D. Riccitelli as the standing Chairman of the Board, effective
immediately. Mr.&nbsp;Riccitelli has served as a member of the Board since June 2017 and as a member of the Audit Committee of the Board since his appointment to the Board. Prior to his appointment to the Board, Mr.&nbsp;Riccitelli had been an
independent consultant since February 2017. Prior to serving as an independent consultant, Mr.&nbsp;Riccitelli served as President and Chief Executive Officer of Signal Genetics, Inc., a molecular genetics diagnostic company, from November 2012 to
February 2017. Prior to joining Signal Genetics, Mr.&nbsp;Riccitelli served as Executive Vice President and Chief Operating Officer of Genoptix Inc., a specialized laboratory service provider, from 2001 to 2011. Mr.&nbsp;Riccitelli holds a B.A. from
Washington and Jefferson College and a Master of Engineering degree from the University of Texas at Austin. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Appointment of New Director </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On November&nbsp;8, 2017, the Company elected David S. Cohen to fill the existing vacancy on the Board, to serve until the Company&#146;s 2019
annual meeting of stockholders or his earlier resignation, retirement or removal. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Cohen is currently the Executive Vice
President and <FONT STYLE="white-space:nowrap">Co-Owner</FONT> of Standard Oil of Connecticut, Inc., a supplier of heating oil in southwestern Connecticut, where he has worked since 1991. Prior to joining Standard Oil, Mr.&nbsp;Cohen served as Vice
President of LRF Investments, Inc. from 1989 to 1991 and as Vice President of Shawmut National Corporation, NA, a New England bank, from 1987 to 1989. Prior to joining Shawmut, Mr.&nbsp;Cohen was Chief Financial Officer at Legal Sea Foods, Inc., a
chain of sea food restaurants, from 1984 to 1987. Mr.&nbsp;Cohen holds a B.A. from Harvard College and an M.B.A. from Harvard Graduate School of Business Administration. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Cohen will be compensated for his service as a <FONT STYLE="white-space:nowrap">non-employee</FONT> director under the Company&#146;s
policy for <FONT STYLE="white-space:nowrap">non-employee</FONT> director compensation described in the Company&#146;s Annual Report filed on April&nbsp;13, 2017. In connection with the election of Mr.&nbsp;Cohen and pursuant to this program, the
Company granted to Mr.&nbsp;Cohen an option to purchase 7,000 shares of the Company&#146;s common stock under the Company&#146;s 2017 Stock Option and Incentive Plan. The stock options vest monthly over a period of three years. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Other than as disclosed below, Mr.&nbsp;Cohen is not a party to any transaction with the Company that would require disclosure under Item
404(a) of Regulation <FONT STYLE="white-space:nowrap">S-K,</FONT> and there are no arrangements or understandings between Mr.&nbsp;Cohen and any other persons pursuant to which Mr.&nbsp;Cohen was selected as a director of the Company. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Between March 2017 and June 2017, Mr.&nbsp;Cohen purchased convertible promissory notes (the
&#147;Notes&#148;) from the Company in an aggregate principal amount of $225,000 and bearing interest at 8% per year. In connection with the closing of the Company&#146;s underwritten public offering in August 2017 (the &#147;Offering&#148;), the
aggregate principal amount under the Notes, together with approximately $50,000 in accrued interest and a redemption payment in accordance with the terms of the Notes, converted into 110,027 shares of the Company&#146;s common stock, par value $0.01
per share (&#147;Common Stock&#148;), and warrants to purchase 110,027 shares of Common Stock. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In connection with the Company&#146;s
merger with Precipio Diagnostics, LLC in June 2017, the Company issued to Mr.&nbsp;Cohen 562,708 shares of Common Stock and 158,940 shares of the Company&#146;s Series A Senior Convertible Preferred Stock (&#147;Series A Preferred Stock&#148;) in
respect of the units of Precipio Diagnostics, LLC held by Mr.&nbsp;Cohen. In June 2017, Mr.&nbsp;Cohen also purchased 26,764 shares of Series A Preferred Stock for approximately $100,000. In connection with the closing of the Offering, all of the
Company&#146;s Series A Preferred Stock converted into shares of Common Stock, including shares of Series A Preferred Stock issued to the holders of Series A Preferred Stock as the Series A Preferred Payment (as defined in the Company&#146;s
Certificate of Designation of Series A Senior Convertible Preferred Stock), and the Company issued warrants to purchase shares of its Common Stock to the former holders of Series A Preferred Stock as consideration for the conversion of their shares
of Series A Preferred Stock into shares of Common Stock. As a result of the foregoing transactions, the Company issued to Mr.&nbsp;Cohen 188,146 shares of Common Stock and warrants to purchase 92,852 shares of Common Stock. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A copy of the Company&#146;s press release regarding the resignation of Mr.&nbsp;Patzig, appointment of Mr.&nbsp;Riccitelli and election of
Mr.&nbsp;Cohen is attached hereto as Exhibit 99.1 and incorporated herein by reference. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Financial Statements and Exhibits. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) Exhibits </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="92%"></TD></TR>
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<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:25.30pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit<BR>No.</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman"><B>Description</B></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d498104dex991.htm">Press Release issued by Precipio, Inc. dated November&nbsp;14, 2017, furnished hereto. </A></TD></TR>
</TABLE>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>PRECIPIO, INC.</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Ilan Danieli</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Name:</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Ilan Danieli</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Title:</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Chief Executive Officer</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date:&nbsp;&nbsp;&nbsp;&nbsp;November 14, 2017</P>
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<TYPE>EX-99.1
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<DESCRIPTION>EX-99.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<IMG SRC="g498104g1114113451829.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Precipio Appoints Samuel D. Riccitelli as Chairman of the Board of Directors and Elects David Cohen as
Director </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NEW HAVEN, CT, (November 14, 2017) &#150; </B>Precipio, Inc. (NASDAQ: PRPO), today announced that on November&nbsp;8, 2017,
Precipio&#146;s Board of Directors (the &#147;Board&#148;) appointed Samuel D. Riccitelli as Chairman, replacing Robert M. Patzig who resigned after serving on Transgenomic&#146;s Board since 2010, and remained as Chairman of Precipio&#146;s Board
since the merger in June 2017. The Board also elected David Cohen to join as a new Director to fill an existing vacancy. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;We are thrilled to appoint
Sam as Chairman of the Board. I&#146;ve had the privilege of knowing Sam for several years. Sam brings a wealth of specific industry experience in the diagnostics field; has extensive background as an operator, as well as substantial public company
experience; and his integrity and values are of the highest caliber. Those skill sets will be invaluable to the Board, to myself and to our management team as we work together to enhance Precipio&#146;s strategic growth and position as an emerging
leader advancing the medical diagnostics market,&#148; said Ilan Danieli, President&nbsp;&amp; CEO of Precipio. &#147;David Cohen is one of the early investors of Precipio Diagnostics, and has served as a key advisor. His experience building and
operating significant companies, as well as his perspective as a seasoned investor, has time and time again proven invaluable. I am delighted to have both gentlemen hold these positions on the company&#146;s Board of Directors. Our biggest asset is
our team, and with these changes, we continue to strengthen that part of the company. I welcome each of them to their new roles on our Board and look forward to working closely with them to achieve our expansive goals,&#148; Mr.&nbsp;Danieli added.
&#147;Lastly, I would like to thank Rob Patzig for his service with the company, both pre, and post-merger. Since our introduction over a year ago, Rob and I worked closely to complete the merger. His commitment and dedication to ensuring the best
outcome for shareholders was always evident; his guidance and support to me will always be appreciated. Rob will be pursuing work within the <FONT STYLE="white-space:nowrap">non-profit</FONT> sector, and I join the Board in wishing him all the
best,&#148; Mr.&nbsp;Danieli concluded. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;It is an honor to accept this additional role with Precipio,&#148; said Samuel Riccitelli, Chairman of the
Board of Precipio. &#147;The current and planned portfolio of products and services offered by the company represent a valuable contribution to the improvement of patient care. Receiving the correct diagnosis is fundamental to achieving the best
healthcare outcomes for patients. Precipio is at the forefront of that effort. I believe the future for Precipio is bright and I look forward to working with our team to deliver exceptional value to our shareholders,&#148; Mr.&nbsp;Riccitelli added.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;I am excited to join Precipio&#146;s Board of Directors. The company&#146;s current offerings include an array of important and highly
differentiated diagnostic products which represent a vast improvement in medical diagnosis and patient care,&#148; said David Cohen, Precipio Director. &#147;I am honored to join this distinguished Board of Directors in our efforts to expand
Precipio&#146;s presence throughout the world as a leading provider of these innovative and life enhancing solutions. The company&#146;s pipeline of new, high-potential products reinforce the value propositions Precipio brings to the market and I
look forward to working with our entire team in guiding Precipio to achieve its full promise,&#148; Mr.&nbsp;Cohen added. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Riccitelli has served
on the Board since the merger in June 2017. From October 2012 through February 2017, Mr.&nbsp;Riccitelli served as President and CEO and a Director on the Board of Signal Genetics, Inc., a publicly traded molecular diagnostic company focused on
serving the needs of patients suffering from Multiple Myeloma, which was recently acquired by Miragen Therapeutics. Mr.&nbsp;Riccitelli also served for ten years as the Executive Vice President and Chief Operating Officer of Genoptix, Inc., a
publicly traded diagnostic services company focused on the needs of community hematologists and oncologists. From 1995 </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
to 2001, Mr.&nbsp;Riccitelli served in a number of R&amp;D and general management leadership positions for Becton, Dickinson and Company, including as a vice president and general manager and as
a Board member for BD Ventures, L.L.C., a venture capital fund. Mr.&nbsp;Riccitelli also served on the Board of Directors of Exagen Diagnostics, Inc., from October 2011 to September 2014. Mr.&nbsp;Riccitelli received a B.A. in Biology from
Washington and Jefferson College and a M.S. Eng. degree from The University of Texas in Mechanical&nbsp;&amp; Biomedical Engineering. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Cohen is
the Chief Operating Officer and <FONT STYLE="white-space:nowrap">co-owner</FONT> of Standard Oil of Connecticut, Inc., the largest independent petroleum retailing company in Connecticut. He has also founded a number of highly successful ventures,
including: Standard Security Systems, a provider of electronic security services; ResCom Energy, a multi-state supplier of deregulated electricity; Moneo Technology Solutions, a provider of security and network infrastructure solutions; and My Gene
Counsel, a cancer bioinformatics company. Mr.&nbsp;Cohen is also a highly experienced investor in numerous <FONT STYLE="white-space:nowrap">start-up</FONT> and early stage businesses. He currently serves on the Boards of: eBrevia, Emme Controls,
Foresite MSP, My Gene Counsel, The Platt&nbsp;&amp; LaBonia Company, and Sirona Medical Technologies. Mr.&nbsp;Cohen holds a BA degree from Harvard College and an MBA degree from the Harvard Business School. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Precipio </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Precipio has built a platform designed to
eradicate the problem of misdiagnosis by harnessing the intellect, expertise and technology developed within academic institutions and delivering quality diagnostic information to physicians and their patients worldwide. Through its collaborations
with world-class academic institutions specializing in cancer research, diagnostics and treatment, initially the Yale School of Medicine, Precipio offers a new standard of diagnostic accuracy enabling the highest level of patient care. For more
information, please visit www.precipiodx.com. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forward-Looking Statements </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Certain statements in this press release constitute &#147;forward-looking statements,&#148; within the meaning of federal securities laws, including statements
related to plans and prospects for Precipio and other statements containing the words &#147;anticipate,&#148; &#147;intend,&#148; &#147;may,&#148; &#147;plan,&#148; &#147;predict,&#148; &#147;will,&#148; &#147;would,&#148; &#147;could,&#148;
&#147;should,&#148; and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. The Company&#146;s actual results could differ materially from those anticipated in these
forward-looking statements as a result of various factors. Factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the known risks, uncertainties and other factors
described in the Company&#146;s definitive proxy statement filed on May&nbsp;12, 2017, the Company&#146;s Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> filed on August&nbsp;22, 2017, the Company&#146;s prior filings and from
time to time in the Company&#146;s subsequent filings with the Securities and Exchange Commission. Any change in such factors, risks and uncertainties may cause the actual results, events and performance to differ materially from those referred to
in such statements. All information in this press release is as of the date of the release and the Company does not undertake any duty to update this information, including any forward-looking statements, unless required by law. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Contacts: </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Precipio Investor Relations: </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">John Marco </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Managing Director </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Core IR </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">377 Oak Street </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Garden City, NY 11530 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">516 222 2560 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">johnm@coreir.com </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">www.coreir.com </P>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
