ProPhase Labs announces $6M stock repurchase program

ProPhase Labs announced that its Board of Directors has authorized a stock repurchase program of up to $6M in ProPhase Labs’ common stock. The Company’s previous stock buyback program expired in February 2023. During the past six months, between purchasing stock in the open stock market and retiring shares from stock option exercises, the Company retired a total of 1.2 million shares of common stock. Ted Karkus, ProPhase’s Chief Executive Officer, commented, "Our new stock repurchase program is a testament to our significant execution over the past two years as well as the Board’s confidence in our multi-faceted strategy to continue to build value for our shareholders long-term." Karkus concluded, "As the largest shareholder in the Company, and based on my demonstrated loyalty to our long-term shareholders, my primary concern has always been on building value and return on investment, on both an absolute and per share basis. I am focused on the near-term performance as well as long term returns. Obviously, the Board of Directors and I are excited for the future of our Company."