Buddabelly, this is really something for you to discuss with your doctor, and he/she will have the pathology report and would be able to tell you the implications/treatments and outcomes. You don't say how far along you are, and whether delivering the baby at this point would be possible, but you should get these answers from your doctor. Best wishes.
I agree that your doctor can give you the answer to your question and how it relates to your pregnancy. On the surface, an inflamed placenta. You didn't lose the baby did you with the preterm labor? Explain more and we'll talk. I'm sorry this is so stressful. You are wise to try to understand your health and these reports but your doctor should give you better answers. hugs