In advance of the Recognizing Preprint Peer Review meeting in December 2022, ASAPbio convened two Working Groups of different stakeholders to articulate the added value of incorporating preprint review into assessment processes, catalog potential uses of preprint review as part of assessment processes, develop working definitions for preprint review according to the needs of different stakeholders and discuss how policies and processes may be updated to incorporate preprint review. This report outlines the recommendations developed by the Working Group involving representatives of journals and preprint review projects.