Welcome to our dedicated page for Predictive Oncology news (Ticker: POAI), a resource for investors and traders seeking the latest updates and insights on Predictive Oncology stock.
Predictive Oncology Inc. (NASDAQ: POAI) is at the forefront of using data and artificial intelligence (AI) to create personalized cancer treatments, aiming for more effective therapies and better patient outcomes. The company's mission revolves around precision medicine in cancer diagnosis, leveraging several key resources:
- Database: A comprehensive database of clinically validated historical and outcome data from patient tumors.
- CLIA-Certified Lab: An in-house Clinical Laboratory Improvement Amendments (CLIA) certified lab.
- Smart Tumor Profiling: A patient-derived tumor profiling platform that offers intelligent insights.
- Bioinformatics AI Platform: An advanced AI platform for in-house bioinformatics.
- Innovative Tumor Growth: Techniques for growing tumors in the lab to rapidly develop patient-specific treatment options.
- FDA-Approved System: The FDA-approved STREAMWAY System for automated medical fluid waste management.
Predictive Oncology's business is structured across three main segments:
- Pittsburgh Segment: Focuses on AI applications using a proprietary biobank with over 150,000 tumor samples and creates 3D culture models for drug development.
- Birmingham Segment: Provides contract research services targeting solubility improvements, stability studies, and protein production.
- Eagan Segment: Produces the FDA-cleared STREAMWAY System for medical fluid disposal, driving the majority of the company's revenue.
Recent achievements highlight the company's collaborative efforts with pharmaceutical, diagnostic, and biotech industries:
- Hosted an investor call and webcast on November 14th, providing insights into future strategies and financial performance.
- Presented a study in collaboration with UPMC Magee-Womens Hospital, utilizing AI to predict ovarian cancer survival outcomes better than clinical data alone.
- Announced a partnership with FluGen to develop a stable intranasal flu vaccine, leveraging Predictive Oncology’s biologics capabilities.
- Unveiled a proprietary 3D cell culture model to enhance cancer drug discovery.
- Introduced a new platform for functional and stable G-Protein Coupled Receptors (GPCRs), targeting advancements in cancer therapeutics.
Predictive Oncology's AI platform, PEDAL, has been validated to predict tumor sample responses to drug compounds with 92% accuracy. This platform, combined with the company's biobank of over 150,000 tumor samples and CLIA lab facilities, positions Predictive Oncology as a leader in AI-driven drug discovery and development.
Predictive Oncology (NASDAQ: POAI) has successfully closed its previously announced registered direct offering, selling 363,336 shares of common stock at $1.50 per share, priced at-the-market under Nasdaq rules. The offering generated gross proceeds of approximately $545,004 before deducting placement agent fees and other expenses. H.C. Wainwright & Co. served as the exclusive placement agent.
The company plans to utilize the net proceeds for working capital and general corporate purposes. The offering was conducted under a shelf registration statement on Form S-3 that became effective on May 21, 2024. A final prospectus supplement and accompanying prospectus were filed with the SEC on February 19, 2025.
Predictive Oncology (NASDAQ: POAI), an AI-driven drug discovery and biologics company, has announced a registered direct offering of 363,336 shares of common stock priced at $1.50 per share. The offering, priced at-the-market under Nasdaq rules, is expected to generate gross proceeds of $545,004 before deducting fees and expenses.
The offering is expected to close on February 19, 2025, with H.C. Wainwright & Co. serving as the exclusive placement agent. The company plans to use the net proceeds for working capital and general corporate purposes. The offering is being made pursuant to an effective S-3 shelf registration statement previously filed with the SEC.
Predictive Oncology (NASDAQ: POAI) reported successful results in its drug repurposing initiative using artificial intelligence. The company identified several abandoned or discontinued pharmaceutical drugs for potential repurposing in cancer treatment, particularly for ovarian, colon, and breast cancer.
Using its proprietary AI and machine learning platform, combined with its biobank of primary tumor samples and drug response data, POAI's system made 964 confident predictions from just 92 laboratory experiments, covering 79% of all possible experiments. This eliminated approximately 18 months of wet lab testing and identified two drugs that outperformed a standard colon cancer treatment.
The company evaluated six specific drug candidates, including inhibitors targeting Akt, Aurora A, PI3Kα, HDAC1/3, VEGFR2/KDR, and PARP1/2. The drug repurposing market is projected to grow from $32.1 billion in 2023 to $51.8 billion by 2033, representing a 4.5% CAGR.
Predictive Oncology (NASDAQ: POAI) announced positive results from a collaborative study with Tecan, at the 2025 SLAS International Conference. The study focused on utilizing patient-derived tumor spheroids (PDTS) from POAI's biobank of cryopreserved tumor specimens for drug screening.
The research demonstrated successful transition from 2D cell culture to cryopreservation and then to 3D cell culture, using breast, colon, and ovary samples with known drug response data. The collaboration leverages Tecan's SparkCyto instrument and 3DAI software for automated analysis of tumor spheroids.
This advancement addresses a key challenge in cancer research: the accessibility and scalability of primary tumor cells. The high-throughput screening market is projected to reach $69.5 billion by 2032, with a CAGR of 12.18%, according to SNS Insider research.
AIRNA has appointed Matthew Hawryluk, Ph.D., MBA as Chief Business Officer. Dr. Hawryluk joins from Gritstone bio, where he served as Executive Vice President and Chief Business Officer. He brings extensive experience in strategic partnerships and business development, having held senior roles at Foundation Medicine and Thermo Fisher Scientific. He currently serves on the Board of Directors at Predictive Oncology (NASDAQ: POAI) and Pear Bio.
The appointment comes at a important time as AIRNA prepares to advance its first RNA editing therapeutic to clinical trials, focusing on alpha-1 antitrypsin deficiency. The company also announced the appointment of Colleen Tucker as Head of People, bringing experience from Akouos, Entasis Therapeutics, and Momenta Pharmaceuticals.
Predictive Oncology (NASDAQ: POAI) has announced plans to launch its ChemoFx® drug response assay in Europe and expand its availability in the United States. The assay, initially focusing on gynecological cancers, tests individual cancer patients' tumor responses to various chemotherapies before treatment selection.
The company's biobank contains approximately 150,000 live cell tumor samples, with nearly half being gynecological cancers. The platform has been validated against 175 FDA-approved drugs and 130 primary ovarian tumor samples. The market opportunity is significant, with about 115,000 new gynecological cancer cases annually in the US and 250,000 in Europe.
According to CEO Raymond Vennare, when previously introduced to the market, ChemoFx® generated gross revenues exceeding $25 million annually. The technology serves dual purposes: personalized cancer treatment and development of AI-driven clinical decision support tools in oncology.
Predictive Oncology (NASDAQ: POAI) has entered into a binding letter of intent to be acquired by Renovaro (NASDAQ: RENB). The merger combines complementary AI/ML platforms to enhance cancer drug discovery and patient outcomes. Under the agreement, POAI shareholders will receive preferred Renovaro stock in a 1:1 exchange, automatically redeemable for $3.00 per share after 18 months.
The deal promises over 30% reduction in combined operating expenses and leverages POAI's biobank of 150,000+ patient tumor samples with Renovaro's multi-omic AI expertise. The merger requires minimum fundraising of $15 million by Renovaro and shareholder approval by February 28, 2025. If POAI's Series A and B warrant holders don't exercise by January 15, 2025, Renovaro will purchase up to 2.33 million POAI shares at $1.07 per share.
Predictive Oncology (NASDAQ: POAI) announced progress in its strategic alternatives evaluation, initiated on November 13, 2024. The company is exploring options including potential sale, asset sales, mergers, licensing agreements, or strategic investments to maximize shareholder value. Multiple confidential discussions are ongoing with prospective partners, involving due diligence. The company's assets include a biobank of over 150,000 tumor samples, 200,000 pathology slides, and longitudinal drug response data, which management believes are undervalued at current market prices. While discussions are ongoing with multiple parties, there's no guarantee of any transaction or specific timing.
Predictive Oncology (POAI) reported Q3 2024 financial results with a loss from continuing operations of $2.3 million on revenue of $345,686, down from $676,626 in Q3 2023. The company ended Q3 with $3.1 million in cash and cash equivalents, compared to $8.7 million at end-2023. Key developments include initiating a strategic alternatives review process to maximize shareholder value, implementing a 20% cost reduction initiative, and raising $1.3 million through warrant exercises. The company validated its biobank's long-term sample viability and entered the $51.5 billion biomarker discovery market following successful studies.
Predictive Oncology Inc. (NASDAQ: POAI), a leader in AI-driven drug discovery and biologics, is set to participate in the H.C. Wainwright 26th Annual Global Investment Conference from September 9-11, 2024, in New York. The company will deliver a virtual presentation available on-demand starting September 9th at 7:00 am ET via the conference platform.
Additionally, the Predictive Oncology management team will be available for one-on-one meetings with investors during the conference. Interested investors are advised to contact their H.C. Wainwright representative to schedule a meeting. This event provides an opportunity for POAI to showcase its innovations in AI-driven drug discovery and connect with potential investors.
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