Any info on Precision Therapeutics?

What is the deal with this company? I've heard good things, but want some dirt. Do tell.

 

I had a recruiter call me about a new sales position with this company. Apparently they are hiring a lot of new reps across the country. There was supposedly an opening in my area, but when the recruiter called back said the position had been filled. It doesn't look like they know what's going on with this expansion. WTF

 

I had a recruiter recently call me as well about a position and I might interview with them soon, but I do not know much about them. I wonder how they are doing in the marketplace, but I can not get any feedback as of yet.
What I do know is that they are a true start up, they are giving employees pre IPO shares. I have heard that J&J has similar Asses product but the division is not doing so well.

 

True start up?!?!?!? Is that what they told you??? This company has been around for over 10 years!!! True re-branding of same old garbage test more like it. I used to work for Precision Therapeutics, and I can tell you - they will eventually run out of money, crash and burn (again). No new testing, no new data, old, washed-up test that docs don't like and only order because we reps begged them to help us out. The test is a complete rip-off of Medicare and the insurance companies. I couldnt get my docs to keep ordering it because it was so worthless. I work at a new lab now and it is like NIGHT and DAY. Don't let them fool you.

 

Run for the hills if you get contacted about this company. It is a time bomb waiting to implode on itself. Assay doesn't work, and dr's won't order it...RUN

 

Doctors won't use the assay because it lacks scientific data to support its use in ovarian cancer. Ongoing study should answer question but has been ongoing for a long time.

 

I just finished my first interview with Precision. I was just called back for my second interview I am currently working as an independent 1099 rep in ortho (joint replacement sales) for the last 11 months. I am looking at other companies due to the fact that I feel I am not being paid fairly, no car allowance, no benefits, etc. I am leery of this company as well. The pay and benefits are attractive, but I am concerned with money issues and the future of the company. Rep told me flat out that the company is looking to get bought out. They just secured 43 million in venture capitalist funds. Revenue increased from 3.5 to 8.5 million this year. I am not sure if this is because favorable studies came out, or that they simply increased the sales force. Any more information on this company, particularly the NYC an Long Island territory? If I am going to make a move, it needs to be a good, long term decision for me. Any insight will be greatly appreciated.

 

It's only a matter of time before the company is sold to some sucker. The ChemoFx product is outright rejected from the end user - the medical oncologist. The company wants reps to beg their surgeons to send specimens and eventually that good-will runs out. The turnover is high and the expectations are unreasonable. They'll float some big dollar signs in front of you, but run the other way if you want a real career.

 

Difficult to sell the tests and job requires a lot of follow up, but the top 8 reps each made over 450K. No place I know you can make that cash.

 

Signed,

Precision Therapeutics Public Relations and Management Team


450 k?! Bullsh!t!
How would you know what the top 8 reps made? Unless your the sales manager, H.R., or C.E.O.. Which I suspect you are. Trying to save what little credibility you have left?
Tad late for that, no?

Your half right though. The test is impossible, not difficult, to sell.

Don't work for these ass clowns. Test is garbage. Data is suspect. Clinicians no those from their own experience from trying the test. Incompetence from CEO, Lab personnel on down to custodian.

Learn from others misfortune, Don't do it.

 

I was not offered the job, and in the end, I think I'm better off staying in total joint replacement sales. The last thing I want to do is have to beg oncologists to use an assay they don't trust.

 

Precision and Oncotech (Exiquon are dead)

That is correct. Precision was a failure before it started. So was Oncotech>Precision. New technology-Molecular profiling has taken the place, and have made the services offerred by both of these companies outdated. Precision Never has the data in the first place. AT least Oncotech was a player for a few years.

Ex-Oncotech Recruiter

 

Do you think 20,000 assays ordered last year would qualify Precision as a player? Oncotech maxed out at around 14,000 per year at their peak.

Of which molecular profiling technology company do you speak? And who is using it?

 

Precision Bought half of that business through a "Data Registry " otherwise known as inducement. Onco never reinvested in thier technology and in the end slit thier own throat. Caris Life Sciences is the new kid in town and watch out because they are going to crush everyone. Rumor has it PTI is shaking in thier boots. DOnt ask a Pti rep though. they will deny.

I want into Caris bad. and no, I dont work for either company.

 

So if you do get pre ipo options, the company goes public and eventually gets bought out, you do stand a good chance of making some decent coin. And let's say the top rep's make $200-300k. Do that for a few years and with your options gains you could have F/U money. Beats the hell out of a pharma gig. If you've pissed away your portfolio then you may need a linus blanket.

 

HAHAHA the last post was special and so spot on. The only people worth a damn are a select few in marketing and the ladies in customer service.

 

Good luck with that OIG investigation.

 

All of these CHEMO predictive tests are BS. I come from the Biotech Pharma market. It is a big bone of contension that these companies keep developing tests without the consent of the BioPharm drug company that makes the drug. Tests like Oncotype are different because they are based on long time Cohort outcomes data. all of these so called tests like the recycled test Caris is selling are a danger to the patients. There is no data.
This is why Pfizeer got involved and developed the ELM4-ALK deletion for their new lung cancer drug. They wanted to make sure that there was an appropriate test. thing is they developed a FISH test and claim that is the only accurate test. But of course a bunch of shady greedy dying labs developed a PCR test and tought that as just as good...WRONG!!!!!

I dont know whay you are all hot on Caris, I bet my left testicle they sink in about a year or get bought and disbanded.

 

^Hey asshole, I think you are on the wrong board

 

"...these companies keep developing tests without the consent of the BioPharm drug company that makes the drug"

Without the consent? Are you freaking serious? The drug company would never consent to a test that identifies non-responders, it would take away a portion of their market. And the lab companies could give a shit less whether the drug company consents. Wake your ass up Biotech Pharma boy and welcome to the world of companion diagnostics. The days of treating every patient with the same drug b/c a clinical trial says 13% of them respond are coming to an end...sell that stock while you can