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 Inc. (NASDAQ: POAI) announced the closing of a registered direct offering of 2,200,000 shares at $1.00 per share, generating $2.2 million in gross proceeds. This offering was executed under Nasdaq rules, with unregistered warrants for 1,100,000 shares also issued at the same price. The company plans to utilize the net proceeds for working capital. H.C. Wainwright & Co. served as the exclusive placement agent. The shares were registered under a previous SEC filing, while the warrants remain unregistered under the Securities Act.
Predictive Oncology (NASDAQ: POAI) has announced a registered direct offering, issuing approximately 2.2 million shares at $1.00 each, expected to generate gross proceeds of $2.2 million. The offering includes unregistered warrants for an additional 1.1 million shares with the same exercise price. Closing is anticipated around January 21, 2021. Funds from this offering will primarily be used for working capital. H.C. Wainwright & Co. serves as the exclusive placement agent for the offering.
Predictive Oncology (NASDAQ: POAI) announced its subsidiary, TumorGenesis, Inc., has secured repeat media orders from two leading research centers in New York and Boston for culturing ovarian cancer cells. Additionally, a private company placed an order for ovarian cancer research. The company's CEO emphasized the significance of developing a 'living library' of cancer cells for drug discovery, stating it could lead to effective treatments for ovarian cancer. The 3D cancer cell culture media market is projected to grow significantly, reaching $3.2 billion by 2027.
Predictive Oncology (NASDAQ: POAI) has completed a registered direct offering of 3,650,840 shares at $0.842 each, raising $3.074 million before expenses. In a related private placement, it issued warrants for 1,825,420 shares at an exercise price of $0.80 per share. The funds will be used for working capital. The offering was managed by H.C. Wainwright & Co., and the shares were offered under an effective shelf registration statement. This transaction highlights the company's ongoing efforts in applying AI for personalized medicine and drug discovery.
Predictive Oncology (NASDAQ: POAI) announced definitive agreements for the sale of 3,650,840 shares at $0.842 each, totaling approximately $3.0 million in gross proceeds through a registered direct offering. The company will also issue warrants for 1,825,420 shares with an exercise price of $0.80, expiring in five and a half years. The offering is expected to close around January 12, 2021. Proceeds are intended for working capital purposes. H.C. Wainwright & Co. serves as the exclusive placement agent for this transaction.
Predictive Oncology (NASDAQ: POAI) has launched its new PeDAL fee-for-service offering aimed at pharmaceutical companies. This innovative service enhances patient-centric drug discovery by integrating the CoRE™ technology with Helomics' TumorSpace™ knowledgebase, featuring 150,000 tumor drug response profiles. The integration promises improved success rates for translating new drugs into clinical settings, resulting in reduced costs and shorter timelines. CEO Dr. Carl Schwartz expects revenue-generating projects from this service in the first half of 2021.
Predictive Oncology (NASDAQ: POAI) has engaged Landon Capital for investor relations services effective December 30, 2020. This partnership aims to enhance communication with investors, analysts, and financial institutions by providing insightful updates on the company's developments. Predictive Oncology operates in personalized medicine and drug discovery, utilizing AI technology across its segments, including Helomics, TumorGenesis, Skyline Medical, and Soluble Biotech. The initiative is anticipated to bolster investor engagement and awareness regarding the company's strategic direction.
Predictive Oncology has canceled its Special Meeting of Stockholders originally set for December 1, 2020, due to insufficient quorum as only 47% of shares were voted. Despite this, nearly 88% of those who voted supported the proposal to reincorporate from Delaware to Nevada, primarily to avoid high franchise taxes. The Board will pursue stockholder approval for this reincorporation in the future. Predictive Oncology leverages AI in personalized medicine, operating through segments like Helomics and Skyline Medical.
Predictive Oncology (NASDAQ: POAI) announced the reconvening of its virtual Special Meeting of Stockholders to December 30, 2020, at 3 p.m. CST. The company urges shareholders to vote 'FOR' the proposal to reincorporate in Nevada, which would eliminate an annual Delaware franchise tax of approximately $170,000, saving about $158,000 annually. The board believes Nevada's laws provide better protections for the company and its officers. The reincorporation requires majority approval from outstanding shares, as previous votes did not meet the threshold.
Predictive Oncology (NASDAQ: POAI) announced that its Special Meeting of Stockholders, originally scheduled for December 1, 2020, was adjourned due to lack of quorum. The meeting will reconvene on December 30, 2020, at 3 p.m. CST, via live audio webcast. Stockholders of record, dated as of October 28, 2020, are encouraged to vote by proxy to ensure their votes are counted. The company operates through three segments with a focus on applying artificial intelligence in drug discovery and personalized medicine.
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