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) announced the sale of 8 STREAMWAY systems to a Virginia university hospital for a new surgical center, adding to the 2 systems already in use. This transaction is anticipated to yield approximately 4,000 procedures annually. In total, the company has sold 13 STREAMWAY systems in Q3 2020. The STREAMWAY System automates medical fluid disposal, showcasing POAI's advancements in personalized medicine and AI application in drug discovery.
Predictive Oncology (NASDAQ: POAI) announces that its chief innovation officer, Mark Collins, Ph.D., recently spoke on DojoLIVE!, discussing the potential of AI in cancer treatment. Helomics, a subsidiary, utilizes its Tumor Drug Response Profiling (TDRP) platform, which has generated profiles from over 150,000 tumors, aiming to personalize cancer therapies and collaborate with pharma on new therapies. The company also operates TumorGenesis and Skyline Medical. It's important to note the inherent risks in forward-looking statements as they may vary from actual results.
Predictive Oncology (NASDAQ: POAI) reported Q2 2020 financial results, highlighting a revenue of $183,000, down from $286,000 year-over-year. The company achieved its first commercial sale of ovarian cancer cell media and completed acquisitions of Soluble Therapeutics and BioDtech, enhancing its capabilities in precision medicine. The net loss was $3.6 million, with improvements in operational expenses. Management is optimistic about ongoing Helomics and TumorGenesis initiatives while raising $4.6 million through equity offerings to strengthen liquidity.
Predictive Oncology (NASDAQ: POAI) released a letter to shareholders highlighting key business achievements and proposals for a vote on September 3, 2020. Significant accomplishments include the acquisition of Quantitative Medicine, enhancing AI-driven drug discovery, and the first commercial sale of ovarian cancer media. The company also aims to reprice stock options and increase its share reserve to attract talent. Recent financial improvements encompass a $4.4 million capital raise and restructuring of debt, aimed at positioning the company for future growth and enhancing shareholder value.
Predictive Oncology (NASDAQ: POAI) has acquired Quantitative Medicine LLC in an all-stock deal valued at approximately $1.8 million. This acquisition integrates QM's CoRE™ drug discovery platform, aimed at enhancing Predictive Oncology's capabilities in personalized medicine and drug development. Leveraging a database from over 150,000 cancer cases, the combined efforts are expected to accelerate the development of new anti-cancer therapeutics and improve patient outcomes. The acquisition is also anticipated to generate revenue from future pharmaceutical collaborations.
Predictive Oncology Inc. (NASDAQ: POAI) announced the successful closure of a transaction leading to gross cash proceeds of approximately $2.2 million from warrant exercises. The transaction involved the exercise of 1,396,826 shares at $1.575 per share, offering new unregistered warrants at $1.80 per share valid for five and a half years. The funds will be utilized for working capital and general corporate purposes. H.C. Wainwright & Co. acted as the exclusive placement agent. The new warrants and shares will not be registered under the Securities Act, available only to accredited investors.
Predictive Oncology (NASDAQ: POAI) has made significant strides by fulfilling its first commercial order for specialized ovarian cancer cell culture media. This media, developed by its TumorGenesis division, allows researchers to grow patient-derived ovarian cancer cells more effectively, preserving crucial DNA, RNA, and proteomic signatures. The order was placed by a leading medical institution in New England. This innovative product aims to address the challenges posed by unvalidated media that increases research costs and reproducibility issues, ultimately driving advancements in cancer treatment research.
Predictive Oncology (NASDAQ: POAI) reported Q1 2020 revenues of $295,943, up from $255,241 year-over-year, driven primarily by STREAMWAY unit sales. Gross margins remained strong at 69%. However, net loss increased to $4.5 million from $3.3 million in the same quarter last year. The company is actively pursuing potential acquisitions to bolster its capabilities, including a COVID-19 vaccine development. The operational focus remains on the Helomics and TumorGenesis divisions, emphasizing AI applications in precision medicine.
Predictive Oncology (NASDAQ: POAI) has acquired the assets of Soluble Therapeutics and BioDtech, both subsidiaries of InventaBioTech, for 125,000 shares of common stock, alongside waiving a $1.07 million promissory note. This acquisition enhances Predictive's capabilities in precision medicine and drug formulation. CEO Dr. Carl Schwartz highlighted that the Soluble assets improve service offerings to pharmaceutical and biotech industries, while BioDtech's test allows monitoring of endotoxins, optimizing treatment strategies. These moves aim to bolster revenue prospects and expand the company’s market presence.
Predictive Oncology (NASDAQ: POAI) announced a registered direct offering of 1,396,826 shares of common stock at $1.575 per share, raising approximately $2.2 million. The offering includes unregistered warrants for the same number of shares, exercisable at $1.45 each for five and a half years. The company plans to use $487,000 of the net proceeds to repay debt and the remainder for working capital. The offering is expected to close on May 8, 2020, subject to customary conditions. H.C. Wainwright & Co. is the exclusive placement agent for this transaction.
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