Profase Labs, Inc. (PRPH): Modelo de negócios Canvas [Jan-2025 Atualizado]

No cenário dinâmico da inovação em saúde, a Prophase Labs, Inc. (PRPH) surge como uma potência multifacetada, navegando estrategicamente nas interseções de testes de diagnóstico, nutracêuticos e pesquisa médica de ponta. Ao alavancar as tecnologias proprietárias e um modelo de negócios robusto, a empresa se posicionou como um atendimento ágil de desafios emergentes de saúde, oferecendo soluções abrangentes que abrangem dos testes da CoVID-19 a produtos de bem-estar. Sua abordagem única combina experiência científica, parcerias estratégicas e um fluxo de receita diversificado, tornando os laboratórios de profissão um estudo de caso atraente no empreendedorismo moderno de saúde.

Profase Labs, Inc. (PRPH) - Modelo de negócios: Parcerias -chave

Colaboração estratégica com instituições de pesquisa farmacêutica

A Profase Labs mantém parcerias de pesquisa com as seguintes instituições:

Instituição	Foco na pesquisa	Status de colaboração
Universidade Thomas Jefferson	Tecnologias de diagnóstico Covid-19	Parceria ativa
Universidade da Pensilvânia	Pesquisa de diagnóstico molecular	Contrato colaborativo em andamento

Parcerias de fabricação com organizações de desenvolvimento de contratos

O Prophase Labs colabora com organizações de fabricação contratadas (CMOs) para desenvolvimento e produção de produtos.

• Catalent Pharma Solutions - CoVID -19 Test Kit Manufacturing
• Thermo Fisher Scientific - Suporte à produção de teste de diagnóstico
• Lonza Group - Serviços de Desenvolvimento de Contratos

Acordos de distribuição com atacadistas de produtos de saúde

Atacadista	Distribuição de produtos	Cobertura geográfica
McKesson Corporation	Kits de teste covid-19	Distribuição nacional
Cardinal Health	Produtos de teste de diagnóstico	Rede nacional de saúde

Parcerias de licenciamento para tecnologias de diagnóstico e teste

A Prophase Labs estabeleceu acordos de licenciamento para o desenvolvimento de tecnologia:

• Contrato de licenciamento exclusivo com a Temple University for Covid-19 Testing Technology
• Parceria de transferência de tecnologia não exclusiva com a Genmark Diagnostics
• Colaboração de propriedade intelectual com a Quidel Corporation for Molecular Diagnóstico Plataformas

Profase Labs, Inc. (PRPH) - Modelo de negócios: Atividades -chave

Desenvolvimento de Covid-19 e outras soluções de teste de diagnóstico

Os laboratórios de prófase desenvolveram soluções de teste CoVID-19 através de sua Plataforma de teste de diagnóstico Testdx. No quarto trimestre de 2022, a empresa registrou receitas de testes da CoVID-19 de US $ 1,2 milhão.

Plataforma de teste	Capacidade de teste	Tipo de teste
Testdx	Até 10.000 testes por dia	PCR e antígeno rápido

Pesquisa e desenvolvimento de produtos nutracêuticos e farmacêuticos

A Profase investiu US $ 1,4 milhão em despesas de pesquisa e desenvolvimento no ano fiscal de 2022.

• Desenvolvimento de linha de produtos frios eeze
• Pesquisa de suplementos antivirais de genes-eden-vir
• CBD e pesquisa de produtos canabinóides

Ensaios clínicos e pesquisa médica

A empresa conduziu pesquisas clínicas com foco em aplicações farmacêuticas nutracêuticas e potenciais.

Área de pesquisa	Status	Investimento
Terapêutica canabinóide	Em andamento	$750,000
Pesquisa de suplementos antivirais	Ativo	$350,000

Fabricação de produtos relacionados à saúde

A prófase opera instalações de fabricação para produtos nutracêuticos e de diagnóstico.

• Capacidade de fabricação fria de EEZE: 5 milhões de unidades anualmente
• Produção do kit de teste de diagnóstico: 500.000 unidades por mês

Marketing e vendas de produtos de diagnóstico e bem -estar

Em 2022, a prófase relatou receitas totais de US $ 16,1 milhões em suas linhas de produtos.

Categoria de produto	Receita	Segmento de mercado
Eeze frio	US $ 8,5 milhões	Nutracêuticos
Teste de diagnóstico	US $ 4,2 milhões	Teste Covid-19
Outros produtos	US $ 3,4 milhões	Bem-estar

Profase Labs, Inc. (PRPH) - Modelo de negócios: Recursos -chave

Tecnologias de testes de diagnóstico proprietários

A Profase Labs mantém um portfólio focado de tecnologias de teste de diagnóstico, com ênfase específica nas soluções de diagnóstico CoVid-19 e molecular.

Tipo de tecnologia	Detalhes específicos	Status atual
Teste de PCR CoVID-19	Plataforma de diagnóstico molecular proprietário	Implantado ativamente em ambientes clínicos
Tecnologias de testes genéticos	Métodos de diagnóstico molecular avançado	Desenvolvimento contínuo

Instalações de pesquisa e desenvolvimento

A Profase Labs opera infraestrutura especializada em P&D dedicada ao desenvolvimento de tecnologia de diagnóstico.

• Despesas totais de P&D (2023): US $ 2,1 milhões
• Pessoal de pesquisa: aproximadamente 15 a 20 profissionais científicos
• Localização de pesquisa primária: Horsham, Pensilvânia

Portfólio de propriedade intelectual

A Profase Labs mantém uma carteira estratégica de propriedade intelectual focada em tecnologias de diagnóstico.

Categoria IP	Número de patentes	Área de foco
Patentes de teste de diagnóstico	7-10 patentes ativas	Tecnologias de diagnóstico molecular
Aplicações de patentes pendentes	3-5 Aplicações	Metodologias de diagnóstico emergentes

Experiência científica e técnica

Os laboratórios de profase aproveitam as capacidades científicas especializadas em diagnóstico molecular e testes genéticos.

• Equipe científica sênior: 12-15 profissionais
• Pesquisadores de nível de doutorado e mestrado
• Áreas especializadas: biologia molecular, teste genético, virologia

Infraestrutura de fabricação

Os laboratórios de profase mantêm as capacidades de fabricação direcionadas para a produção de testes de diagnóstico.

Capacidade de fabricação	Volume de produção	Localização da instalação
Produção de teste CoVID-19	Até 500.000 testes por mês	Horsham, Pensilvânia
Kits de teste genético	Capacidades de produção em escala	Instalação de fabricação primária

Profase Labs, Inc. (PRPH) - Modelo de negócios: proposições de valor

Soluções inovadoras de covid-19 e diagnóstico de diagnóstico de saúde

Os laboratórios de profase geraram US $ 19,6 milhões em receita de teste CoVID-19 em 2022. A empresa oferece serviços de teste de PCR e antígenos rápidos com os seguintes recursos de teste:

Tipo de teste	Capacidade diária	Taxa de precisão
Teste de PCR	50.000 testes	99.2%
Teste rápido de antígeno	25.000 testes	95.7%

Produtos nutracêuticos e de bem-estar de alta qualidade

A Profase Labs comercializa produtos nutracêuticos com o desempenho seguinte no mercado:

• A marca Cold Eeze gerou US $ 4,2 milhões em receita em 2022
• A linha de produtos de bem -estar expandida para 12 categorias de suplementos diferentes
• Margem bruta para produtos nutracêuticos: 45-50%

Tecnologias de saúde avançadas orientadas a pesquisas

Área de pesquisa	Investimento	Estágio de desenvolvimento
Teste genômico	US $ 1,5 milhão	Desenvolvimento precoce
Diagnóstico molecular	US $ 2,3 milhões	Pesquisa avançada

Resposta rápida a desafios emergentes de saúde

Os laboratórios de prófase demonstraram recursos rápidos de resposta com:

• CoVID-19 testando a implantação dentro de 30 dias após o início da pandemia
• Infraestrutura de teste móvel cobrindo 15 estados
• Tempo de resposta para os resultados dos testes: 24-48 horas

Ofertas abrangentes de saúde e bem -estar

Categoria de produto	Número de produtos	Receita anual
Remédios de resfriado e gripe	7 produtos	US $ 6,8 milhões
Suplementos de suporte imunológico	5 produtos	US $ 3,5 milhões
Serviços de teste de diagnóstico	3 plataformas de teste	US $ 19,6 milhões

Profase Labs, Inc. (PRPH) - Modelo de Negócios: Relacionamentos do Cliente

Vendas diretas para profissionais de saúde

Os laboratórios de profase geram vendas diretas por meio de canais de produtos farmacêuticos e de diagnóstico direcionados. Para o ano fiscal de 2023, a empresa informou US $ 19,7 milhões em receitas totais, com uma parcela significativa derivada de vendas diretas de provedores de saúde.

Canal de vendas	Contribuição da receita
Provedor de saúde vendas diretas	Aproximadamente 65% da receita total
Vendas de produtos para testes Covid-19	US $ 11,2 milhões em 2023

Canais de suporte ao cliente online

O Prophase Labs mantém a infraestrutura de suporte digital para interações com os clientes.

• 24/7 portal de atendimento ao cliente on -line
• Sistema de suporte por e -mail
• Canais de consulta de produto técnico

Engajamento através de plataformas de marketing digital

A empresa utiliza várias estratégias de marketing digital para envolver clientes em potencial e profissionais de saúde.

Plataforma de marketing digital	Métricas de engajamento
Rede Profissional do LinkedIn	Mais de 2.500 conexões profissionais
Site da empresa	Aproximadamente 15.000 visitantes mensais

Suporte técnico para produtos de diagnóstico

A Prophase Labs fornece suporte técnico especializado para suas linhas de diagnóstico de produtos.

• Equipe de suporte técnico dedicado
• Recursos de treinamento de produtos
• Resposta rápida Assistência ao cliente

Educação de clientes e recursos de informação

A empresa investe em iniciativas abrangentes de educação de clientes.

Recurso educacional	Alcançar
Série de webinar	4-6 webinars profissionais anualmente
Referências de publicação científica	12-15 Citações de pesquisa por ano

Profase Labs, Inc. (PRPH) - Modelo de Negócios: Canais

Equipe de vendas diretas

A partir de 2024, a Prophase Labs mantém uma equipe de vendas direta focada na distribuição de produtos farmacêuticos e de teste de CoVID-19. O tamanho da equipe de vendas é de aproximadamente 15 a 20 representantes em tempo integral.

Site de comércio eletrônico

A Prophase Labs opera uma plataforma de vendas on -line em testdirectly.com, que gerou aproximadamente US $ 2,3 milhões em receita direta de vendas on -line em 2023.

Canal	Receita anual	Volume de vendas
Plataforma de comércio eletrônico	US $ 2,3 milhões	45.000 kits de teste

Redes de distribuidores de assistência médica

O Prophase Labs colabora com vários parceiros de distribuição de assistência médica, incluindo:

• Amerisourcebergen
• McKesson Corporation
• Cardinal Health

Cadeias de suprimentos farmacêuticos e médicos

Parceiro da cadeia de suprimentos	Tipo de parceria	Alcance de distribuição de produtos
CVS Health	Distribuição direta	3.200 locais de farmácia
Walgreens	Distribuição por atacado	2.700 locais de farmácia

Plataformas de marketing digital

A Profase Labs aloca aproximadamente US $ 450.000 anualmente para canais de marketing digital, incluindo:

• Google anúncios
• Publicidade nas mídias sociais
• Campanhas profissionais de saúde direcionadas

Os esforços de marketing digital contribuem para aproximadamente 22% da aquisição total de clientes para os testes e produtos farmacêuticos da empresa.

Profase Labs, Inc. (PRPH) - Modelo de negócios: segmentos de clientes

Provedores de saúde

A Profase Labs tem como alvo os prestadores de serviços de saúde com soluções de teste de diagnóstico. A partir do quarto trimestre de 2023, a empresa registrou US $ 8,2 milhões em receita de testes CoVID-19 em instalações médicas.

Tipo de cliente	Volume de teste anual	Receita média por cliente
Hospitais	45.000 testes	$275,000
Centros de atendimento urgente	22.500 testes	$135,000

Laboratórios de Diagnóstico

A prófase fornece tecnologias de teste molecular para laboratórios de diagnóstico em todo o país.

• Total de Parcerias de Laboratório: 87
• Cobertura geográfica: 42 estados
• Vendas anuais do kit de teste: US $ 12,3 milhões

Empresas farmacêuticas

A prófase colabora com empresas farmacêuticas para testes clínicos e serviços de pesquisa.

Tipo de colaboração	Número de contratos ativos	Intervalo de valor do contrato
Pesquisa clínica	14	US $ 500.000 - US $ 2,5 milhões
Serviços de teste	9	$ 250.000 - US $ 1,2 milhão

Consumidores individuais que buscam produtos de bem -estar

Mercados de prófase de bem-consumador de bem-estar e produtos de diagnóstico.

• Receita de vendas on -line: US $ 4,7 milhões em 2023
• Valor médio de compra do consumidor: $ 89
• Categorias de produtos: testes covid-19, suplementos de bem-estar

Organizações de Governo e Saúde Pública

A prófase fornece soluções de teste para iniciativas de saúde pública.

Segmento do governo	Contratos garantidos	Valor total do contrato
Departamentos de Saúde do Estado	22	US $ 6,8 milhões
Agências federais	7	US $ 3,2 milhões

Profase Labs, Inc. (PRPH) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a Prophase Labs registrou despesas de P&D de US $ 3,9 milhões, representando um investimento significativo em inovação e desenvolvimento de produtos.

Ano fiscal	Despesas de P&D	Porcentagem de receita
2023	US $ 3,9 milhões	22.3%
2022	US $ 2,7 milhões	18.6%

Custos de fabricação e produção

Os custos de fabricação da Profase Labs para 2023 totalizaram aproximadamente US $ 5,2 milhões, cobrindo a produção de testes CoVID-19 e outros produtos de diagnóstico.

• Custos de mão -de -obra de fabricação direta: US $ 1,6 milhão
• Despesas de matéria -prima: US $ 2,8 milhões
• Manufatura de sobrecarga: US $ 0,8 milhão

Despesas de vendas e marketing

A empresa gastou US $ 2,5 milhões em atividades de vendas e marketing em 2023, concentrando -se nos canais de promoção e distribuição de produtos.

Canal de marketing	Gasto	Porcentagem de orçamento de marketing
Marketing digital	US $ 0,9 milhão	36%
Feiras	US $ 0,4 milhão	16%
Equipe de vendas	US $ 1,2 milhão	48%

Sobrecarga administrativa

As despesas administrativas dos laboratórios de profase em 2023 totalizaram US $ 4,1 milhões, cobrindo as funções de suporte operacional.

• Compensação de executivos: US $ 1,5 milhão
• Salários da equipe administrativa geral: US $ 1,8 milhão
• Infraestrutura e manutenção do escritório: US $ 0,8 milhão

Investimentos de tecnologia e infraestrutura

A Prophase Labs investiu US $ 1,2 milhão em atualizações de tecnologia e infraestrutura durante 2023.

Categoria de investimento	Quantia	Propósito
Sistemas de TI	US $ 0,5 milhão	Atualizações de software e hardware
Equipamento de laboratório	US $ 0,4 milhão	Testes e tecnologia de diagnóstico
Segurança cibernética	US $ 0,3 milhão	Proteção de dados e segurança de rede

Profase Labs, Inc. (PRPH) - Modelo de negócios: fluxos de receita

Vendas de kits de teste de diagnóstico

Para o ano fiscal de 2023, a Prophase Labs relatou receitas de kit de teste de diagnóstico de US $ 3,4 milhões.

Receita de produtos nutracêuticos

Linha de produtos	Receita anual (2023)
Eeze frio	US $ 12,5 milhões
Suplementos de suporte imunológico	US $ 2,3 milhões

Taxas de licenciamento e transferência de tecnologia

Em 2023, os laboratórios de profase gerados $850,000 de acordos de licenciamento e atividades de transferência de tecnologia.

Serviços de teste relacionados à Covid-19

• Receita de teste Covid-19 para 2023: US $ 1,2 milhão
• Os serviços de teste relacionados à pandemia diminuíram significativamente em comparação com os anos anteriores

Vendas farmacêuticas de produtos

Vendas de produtos farmacêuticos para 2023 totalizaram US $ 5,6 milhões, principalmente de suas ofertas genômicas de testes e medicina de precisão.

Fluxo de receita	2023 Receita total	Porcentagem da receita total
Produtos nutracêuticos	US $ 12,5 milhões	52%
Vendas farmacêuticas de produtos	US $ 5,6 milhões	23%
Kits de teste de diagnóstico	US $ 3,4 milhões	14%
Serviços de teste COVID-19	US $ 1,2 milhão	5%
Taxas de licenciamento	$850,000	3.5%

ProPhase Labs, Inc. (PRPH) - Canvas Business Model: Value Propositions

You're looking at the core reasons why ProPhase Labs, Inc. (PRPH) believes it creates value for its customers and stakeholders right now, late in 2025. It centers on high-potential medical innovation, significant potential cash recovery, and a restructured consumer arm.

Highly Accurate, Early-Stage Diagnostic for Esophageal Cancer (BE-Smart™)

The BE-Smart™ test offers a value proposition rooted in clinical performance and market size. The pivotal study, accepted for publication in Clinical Gastroenterology and Hepatology in October 2025, reported 100% sensitivity in a blinded cohort of 100 patients for identifying later cancer progression. This test is designed to address a U.S. addressable market (TAM) estimated between $7 billion and $14 billion, based on approximately 7 million annual upper endoscopies for Barrett's Esophagus surveillance. Potential reimbursement is cited in the range of $1,000 to $2,000 per test. The assay demonstrated strong discriminative performance, with an AUC ranging from 0.89-1.0 in independent test cohorts. The phased commercial rollout is targeted to begin in 2026.

Industry-Leading Whole Genome Sequencing for Comprehensive Health Insight

The genomics segment, through Nebula Genomics, offers insights far beyond standard ancestry testing. A whole genome sequencing test provides 1000 to 5000 times more data than a typical ancestry test. This deep data set is a key differentiator for health insights. Furthermore, management reports that the restructured Nebula Genomics business is now profitable on a pro-forma basis and has achieved breakeven status based on subscription renewals.

Potential Non-Dilutive Cash Influx of $50 Million+ from Collections

A major near-term value driver is the expected recovery from uncollected COVID testing claims. ProPhase Labs appointed Crown Medical as Special Counsel to pursue these receivables, with an estimated net recovery goal exceeding $50 million. As of late 2025, the company's market capitalization was approximately $12 million as of November 2025, meaning this potential cash influx represents more than three times the company's entire market cap. This recovery follows the bankruptcy court approval of the lab subsidiaries' Chapter 11 proceedings, clearing a gating issue for collections to begin flowing.

Streamlined, High-Margin Consumer Health Supplements

The consumer products segment is positioned as streamlined, showing significant margin improvement compared to the prior year, despite recent revenue fluctuations. You can see the margin expansion clearly in the year-over-year comparisons for the first half of 2025. Still, the proposition is the high-margin potential you've built into this vertical.

Here's the quick math on the gross margin performance for consumer products:

Period Ended	Gross Margin (%)	Comparative Period Gross Margin (%)
March 31, 2025	53.0%	28.0% (March 31, 2024)
June 30, 2025	67.8%	36.8% (June 30, 2024)

The company also completed a strategic portfolio realignment, including the sale of PMI and Pharmaloz Real Estate, which generated an $8.7 million gain and eliminated over $20 million in debt/liabilities.

Access to a Large, Diverse DNA Data Set for Research Partners

The genomics business holds a valuable asset in its historical data collection efforts. This data set is not just large, but it is deep, consisting of whole genome sequencing information. The value proposition here rests on the comprehensiveness of this proprietary asset:

• Data collected over 8 years.
• Data sourced from 130 countries.
• The data is whole genome sequencing data.
• Nebula Genomics is now restructured and profitable on a pro-forma basis.

Finance: draft 13-week cash view by Friday.

ProPhase Labs, Inc. (PRPH) - Canvas Business Model: Customer Relationships

You're looking at how ProPhase Labs, Inc. (PRPH) interacts with its various customer groups as of late 2025. It's a mix of direct sales, recurring revenue focus, specialized outreach, and broad investor communication.

Direct-to-consumer (DTC) e-commerce model for supplements and genomics

For the consumer health side, ProPhase Labs uses a direct-to-consumer marketing platform for its over-the-counter dietary supplements. You see the financial impact of this channel in the gross margin figures. For the three months ending June 30, 2025, the gross margin for consumer products hit 67.8%, a significant jump from the 36.8% seen in the comparable 2024 period. Still, consumer products revenue saw a $1.0 million decrease for the three months ended March 31, 2025. The genomics business, Nebula Genomics, which offers whole genome sequencing, holds data collected over 8 years from 130 countries.

Automated subscription renewals for Nebula Genomics for recurring revenue

The customer relationship for Nebula Genomics centers on building a scalable business supported by recurring revenue from subscription renewals. As of the second quarter of 2025, the President of Nebula Genomics noted the business had moved from consistent historical losses to a break-even position, with a clear path to sustained profitability directly tied to those subscription renewals and ongoing cost efficiencies. The company is holding one of the world's largest and most diverse DNA datasets.

High-touch engagement with key opinion leaders (KOLs) for BE-Smart™ adoption

For the BE-Smart™ Esophageal Cancer Test, the customer engagement is focused on clinical validation and commercialization pathway advancement, which inherently involves KOLs in the medical community. This test targets a stated addressable market estimated between $7 billion and $14 billion. By November 2025, the test had achieved full U.S. patent approval and clinical validation. The company anticipated updating stockholders on positive developments toward commercialization in the near future following a September 9, 2025, stockholder meeting.

Investor relations via virtual webinars and conferences

ProPhase Labs, Inc. maintains active engagement with its investor base through scheduled virtual events. You can track the cadence of these interactions. Management held a virtual conference call on November 19, 2025, to discuss the third quarter 2025 financial results. Chairman & CEO Ted Karkus was scheduled to present at an Exclusive Live Investor Webinar and Q&A Session on December 1, 2025. Earlier in the year, the company participated in a Renmark Financial Communications Inc's live Virtual Non-Deal Roadshow Series on September 4, 2025. Here's a snapshot of some recent investor touchpoints:

Event Type	Date (2025)	Focus Area Mentioned
Virtual Conference Call (Q3 Results)	November 19	Q3 2025 Financial Results
Exclusive Live Investor Webinar	December 1	BE-Smart™ Milestones, Nebula Genomics
Virtual Non-Deal Roadshow	September 4	Crypto Treasury Strategy, Liquidity Events

The company also deferred CEO salary by more than two thirds and other senior management/Board salary by 50% until one or more liquidity events occur, which is a direct alignment mechanism with shareholders.

ProPhase Labs, Inc. (PRPH) - Canvas Business Model: Channels

You're looking at how ProPhase Labs, Inc. (PRPH) gets its value propositions-from genomics data to diagnostic tests-into the hands of customers and stakeholders as of late 2025. It's a mix of direct sales, legal maneuvering for past revenue, and strategic partnerships.

Direct-to-Consumer (DTC) websites for Nebula Genomics and supplements

The DTC channel is currently streamlined, focusing on the consumer products side while the genomics lab operations have been significantly restructured. The Nebula Genomics asset remains valuable for its data, even after the physical lab closure.

Here are the recent financial snapshots related to the consumer products component of this channel:

Metric	Period Ended September 30, 2025 (Q3)	Period Ended June 30, 2025 (Q2)
Net Revenue (Total Company)	$0.9 million	$1.2 million
Cost of Revenues (Mainly Consumer Products)	$1.0 million	$0.4 million
Consumer Products Gross Margin	(13.1)%	67.8%

The Nebula Genomics data asset itself is a key resource leveraged through this channel, though its physical lab overhead was cut. The company shut down the genomics laboratory in February 2025, saving over $6 million per year in operating costs.

• Nebula Genomics dataset size: 16-petabyte of DNA data.
• Data sourced from 130 countries.
• Reports offered to consumers: Over 300 personalized reports.

Clinical/Medical sales channel for BE-Smart™ test commercialization

This channel is poised for future revenue, driven by the BE-Smart™ esophageal cancer risk-stratification assay. While the phased rollout is planned to begin in 2026, the validation data is the current channel asset being leveraged for partnerships.

The market opportunity for BE-Smart™ is substantial, based on current U.S. procedure volumes:

• Total Addressable Market (TAM): Roughly $7-$14 billion.
• Annual U.S. upper endoscopies for surveillance: Approximately 7 million.
• Validation study technical success rate: Greater than 95%.
• Sensitivity in identifying later cancer progressors (in a 100-patient cohort): 100%.

Management has noted that a partnership for this test could have previously yielded a potential upfront payment of $30-50 million, which is the type of deal they are pursuing to fund commercialization.

Legal/Bankruptcy court system for A/R recovery via Crown Medical

This is a critical, non-dilutive liquidity channel being aggressively pursued through legal means following the Chapter 11 filing of the COVID-19 testing laboratory subsidiaries in September 2025. Crown Medical Collections has been formally appointed as Special Counsel.

The figures associated with this recovery effort are significant:

Metric	Amount
Crown Medical Estimated Net Recovery (Net of Fees)	$50 million
Total Uncollected COVID Testing Receivables Being Pursued	Approximately $150 million
Number of Insurance Carriers Targeted	About 1,000
Company's Carried A/R Net for this Initiative (as of June 30, 2025)	Only $20 million
Settlements Completed to Date (as of Nov 2025)	One claim

The company expects this initiative to start generating significant cash flow in the second half of 2025.

Third-party sequencing partnerships for genomics fulfillment

This channel involves contracting with external entities for research and fulfillment, complementing the data asset held by Nebula Genomics. While the internal lab was closed to cut overhead, the data itself is still being monetized or leveraged for strategic value.

The restructured Nebula Genomics subsidiary is now described as being profitable on a pro-forma basis, suggesting that the shift away from high internal lab costs to third-party fulfillment has improved the unit economics for the remaining data business.

The original acquisition cost for Nebula Genomics in August 2021 was approximately $14.6 million in stock and cash. Finance: draft 13-week cash view by Friday.

ProPhase Labs, Inc. (PRPH) - Canvas Business Model: Customer Segments

You're looking at the specific groups ProPhase Labs, Inc. (PRPH) targets with its diverse set of offerings, which is crucial given their current pivot away from legacy COVID-19 testing and toward specialized diagnostics and genomics.

Health-conscious consumers seeking advanced genomic data

This segment is served primarily through the restructured Nebula Genomics business.

• Nebula Genomics achieved breakeven status.
• The business model now focuses on high-margin subscription renewals.

Patients at risk for or diagnosed with Barrett's Esophagus

This group is the target for the BE-Smart esophageal pre-cancer diagnostic test, which is a key future value driver.

The market potential here is substantial, based on current U.S. procedure volumes:

Metric	Data Point
Annual U.S. Upper Endoscopies (Surveillance)	Approximately 7 million
Total Addressable Market (TAM) Scenario	Roughly $7 billion to $14 billion
Potential Reimbursement Per Test	$1,000 to $2,000

Clinical validation data supports targeting this segment:

• BE-Smart showed 100% sensitivity in identifying patients who later developed esophageal adenocarcinoma.
• The test achieved an Area Under the Curve (AUC) of 1.0 in an independent test cohort for patients who progressed within three years.
• Commercialization rollout is planned to begin in 2026.

Gastroenterologists and clinicians adopting new diagnostics

These are the prescribers and users who integrate the BE-Smart test into their practice workflows.

ProPhase Labs, Inc. is actively pursuing integration through several channels:

• Collaborations with key opinion leaders and health-system partners are underway.
• The test is designed to be compatible with both forceps biopsies and brush-based tissue collection.
• The company is advancing regulatory preparations and scaling laboratory efforts to support clinical testing in partnership with leading gastroenterology practices.

Institutional investors focused on biotech and strategic turnarounds

This segment includes funds and institutions tracking the company's strategic restructuring and potential asset realization, such as the Crown Medical collections.

Institutional ownership data as of late 2025 shows the following:

Ownership Metric	Reported Value
Number of Institutional Shareholders (Reported)	68
Total Institutional Shares Held (Reported)	3,209,702
Percentage of Shares Owned by Institutions (Reported)	14.07%
Share Price (as of November 28, 2025)	$0.21 / share

The company's market capitalization was approximately $12 million as of a November 2025 report.

Finance: draft 13-week cash view by Friday.

ProPhase Labs, Inc. (PRPH) - Canvas Business Model: Cost Structure

You're looking at the hard costs ProPhase Labs, Inc. (PRPH) is incurring to keep the lights on and push its key projects forward as of late 2025. This structure shows where the cash is going before we even talk about revenue generation.

General and administration expenses were a significant outlay, totaling $13.351 million for the nine months that ended on September 30, 2025. That's a big chunk of overhead to cover. It's important to see how this compares to prior periods, but for now, that's the reported spend.

Here's a quick look at the key financial cost components we have data for covering the nine months ended September 30, 2025:

Cost Component	Amount (9 Months Ended Sep 30, 2025)
General and administration expenses	$13.351 million
Interest expense on debt	$2.675 million
Cost of revenues for consumer products	$2.424 million
R&D and clinical validation costs for BE-Smart™	$107 thousand

The legal and contingency fees tied to the Crown Medical collections initiative represent a specific, non-recurring type of cost you need to track. While the search results highlight the potential for a $50M+ net collection from this initiative, the specific legal and contingency fees incurred for the nine months ended September 30, 2025, aren't explicitly itemized in the same way as the other line items in the provided data. This is a cost driven by a specific recovery effort, not ongoing operations.

For the research and development side, specifically for the BE-Smart™ test, the costs were relatively contained for the period. ProPhase Labs reported $107 thousand in R&D and clinical validation costs for the nine months ending September 30, 2025. This suggests a shift in focus, perhaps moving from heavy upfront development to commercialization preparation, especially following the acceptance of the pivotal study for publication.

The direct cost associated with selling the consumer products, the Cost of revenues, was $2.424 million for the same nine-month period. This number directly impacts the gross margin on that segment, which has seen historical fluctuations based on production volume and raw ingredient costs.

We also need to account for financing costs. The interest expense on debt for the nine months ended September 30, 2025, came in at $2.675 million. That's a fixed obligation you have to service regardless of sales performance.

You should review the detailed breakdown of operating expenses to see where the $13.351 million in G&A is allocated. It likely includes:

• Personnel expenses
• Overhead costs
• Professional fees

Finance: draft 13-week cash view by Friday.

ProPhase Labs, Inc. (PRPH) - Canvas Business Model: Revenue Streams

You're looking at the revenue streams for ProPhase Labs, Inc. (PRPH) as of late 2025. This is a company heavily focused on realizing value from past activities while pushing forward a key diagnostic asset. Here's the quick math on what's currently flowing in and what's expected to hit the books.

The revenue picture for the nine months ended September 30, 2025, shows a clear shift away from prior diagnostic service revenue, which was zero in the period. The primary recognized revenue stream is from consumer products.

Consumer Products Sales Performance

Metric	For the Three Months Ended Sep 30, 2025	For the Nine Months Ended Sep 30, 2025
Net Revenue	\$0.9 million	\$3.561 million
Consumer Products Gross Margin	(13.1)%	N/A

The gross margin for consumer products in the third quarter of 2025 was negative at $\text{(13.1)%}$. This compares sharply to the $\text{65.3%}$ realized in the same period of 2024.

Genomics Business Model Transition

Nebula Genomics is now a leaner operation, having moved from historical losses to a break-even position today on a pro-forma basis. Profitability is now clearly tied to:

• Subscription renewals, which carry high margins.
• Cost efficiencies achieved through streamlining operations.

The company is exploring a strategic sale of Nebula Genomics to unlock additional liquidity.

Potential Cash Recovery from COVID-19 A/R

A major near-term liquidity driver is the collection of legacy COVID-19 testing receivables. ProPhase Labs has appointed Crown Medical Collections as Special Counsel following the Chapter 11 filing of the lab subsidiaries.

• Total uncollected receivables targeted: Over $\text{\$150 million}$.
• Crown Medical's estimated net recovery: \$50 million+.
• Expected cash flow from collections: Potentially beginning in mid-2025.

If onboarding takes 14+ days, churn risk rises, but here the risk is litigation delay, though the bankruptcy structure is intended to accelerate recovery.

Future Reimbursement Revenue from BE-Smart™

The BE-Smart™ Esophageal Cancer Test has achieved independent validation from the Mayo Clinic and acceptance for publication. While a specific confirmed reimbursement rate per test isn't explicitly detailed in the latest filings, the potential value is substantial:

• Total Addressable Market (TAM) for surveillance: Roughly $\text{\$7-\$14 billion}$ annually in the U.S..
• Potential partnership upfront payment cited previously: $\text{\$30-50 million}$ plus milestones and royalties.

The company is pursuing collaborations to integrate BE-Smart™ into patient-care workflows, planning a phased rollout to begin in 2026.

Gains from Disposal of Discontinued Operations

Significant, non-recurring revenue was recognized from the disposal of discontinued operations, primarily related to the sale of PMI (Pharmaloz Manufacturing Inc.) and its real estate.

Disposal Event Component	Amount for the Nine Months Ended Sep 30, 2025
Gain from disposal of discontinued operations	\$8.746 million
Loss from discontinued operations, net of tax (Year-to-date impact)	$\text{(\$0.102 million)}$

This $\text{\$8.746 million}$ gain is a one-time event that helped offset operating losses for the nine-month period. Finance: draft 13-week cash view by Friday.