- ProPhase Labs (PRPH, Financial) explores a reverse merger with a digital asset-focused company.
- The company approves a cryptocurrency treasury initiative, including Bitcoin investments.
- ProPhase Labs maintains its existing business operations in diagnostics and genomics.
On July 21, 2025, ProPhase Labs, Inc. (PRPH) announced the initiation of two strategic business initiatives, as authorized by its Board of Directors. These initiatives aim to integrate digital asset strategies with the company's established business operations in biotechnology and genomics.
The first initiative involves exploring a potential reverse merger with a company focused on digital assets and cryptocurrency. This move seeks to leverage emerging financial technologies while complementing ProPhase's current business domains.
Additionally, the Board approved the company's foray into digital assets through a cryptocurrency treasury initiative, which will involve acquiring and holding Bitcoin as a diversification strategy. CEO Ted Karkus emphasized that this approach could potentially enhance long-term shareholder value by aligning with the growing institutional traction of digital assets.
Despite this strategic pivot, ProPhase intends to sustain its core business initiatives. These include the Crown Medical Collections project, aiming to recover up to $50 million from COVID-related receivables, ongoing strategic alternatives for Nebula Genomics, and the commercialization of the BE-Smartâ„¢ Esophageal cancer test. The company underscores that no binding agreement has been finalized for the reverse merger, highlighting the exploratory nature of these initiatives.
As ProPhase Labs navigates this intersection of healthcare innovation and cryptocurrency, the company remains committed to providing updates as further developments unfold.
