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 a reverse stock split of its common stock at a ratio of 1-for-20, effective April 24, 2023, at 12:01 a.m. This decision aims to comply with the minimum bid price requirements for maintaining its listing on the Nasdaq Capital Market. Following the split, the number of outstanding shares will decrease from approximately 79.6 million to about 3.98 million. Stockholders’ interests will remain proportionate, although fractional shares will be rounded up. The reverse split was authorized by stockholders on April 19, 2023, during a special meeting. The company also noted that there will be proportional adjustments to equity awards, convertible preferred stock, and warrants.
Predictive Oncology (POAI) has announced that its Special Meeting of Stockholders, scheduled for April 17, 2023, was adjourned due to insufficient quorum. The meeting is set to reconvene on April 19, 2023, to discuss a proposal for a reverse stock split ranging from 1-for-2 to 1-for-25. Stockholders of record as of March 28, 2023, are eligible to vote, and previous proxies will be honored at the reconvened meeting. The company is actively soliciting additional votes to ensure the proposal's approval.
Predictive Oncology aims to leverage its AI platform, PEDAL, and a biorepository of tumor samples to enhance drug discovery for cancer treatment. The company emphasizes the importance of stockholder participation in the upcoming vote.
Predictive Oncology Inc. (NASDAQ: POAI) has appointed Christoph Reinhard, Ph.D., MBA, to its Scientific Advisory Board. Dr. Reinhard, a leader in oncology research and drug development, brings extensive experience from his role as Chief Scientific Officer at CELLphenomics GmbH and over a decade at Eli Lilly. The company emphasizes Dr. Reinhard’s insights will enhance its oncology drug development initiatives, particularly leveraging its AI-driven PEDAL platform, which predicts tumor responses with 92% accuracy. This strategic move aims to strengthen Predictive Oncology’s capabilities in delivering innovative cancer therapies.
Predictive Oncology (NASDAQ: POAI) has announced a partnership with Integra Therapeutics to enhance gene editing capabilities for cancer therapies. The collaboration leverages Predictive Oncology's expertise in protein expression and proprietary technology, HSC™, designed to optimize biomolecular interactions essential for drug development. This partnership aims to facilitate new discoveries in cell therapy. Additionally, Predictive Oncology recently launched EndoBind-R II, a specialized product for endotoxin removal, showcasing their commitment to innovative solutions in biopharma.
Predictive Oncology Inc. (Nasdaq: POAI) reported a net loss of $25.7 million on total net revenue of $1.5 million for the year ended December 31, 2022. The company achieved significant milestones, including the successful completion of the Discovery 21 program, which validated its PEDAL™ drug discovery platform. Partnerships with Cancer Research Horizons and Cvergenx were announced to enhance oncology drug development. Financial challenges included an impairment of goodwill totaling $7.2 million. As of December 31, 2022, cash and cash equivalents decreased to $22.1 million from $28.2 million in 2021, reflecting operational losses.
Predictive Oncology (NASDAQ: POAI) has partnered with Cancer Research Horizons to enhance oncology drug development using the PEDAL™ platform. This collaboration aims to accelerate cancer therapy development from compounds sourced through Cancer Research UK’s extensive network. The PEDAL platform employs AI to improve early drug discovery by predicting responses to treatments, thus optimizing drug-tumor combinations for clinical trials. Both organizations emphasize patient benefit and the importance of personalized treatment. The partnership also involves revenue sharing and the potential for PEDAL's integration into future drug discovery processes.
Predictive Oncology (NASDAQ: POAI) declared a dividend of one one-thousandth of a share of newly designated Series F Preferred Stock for each common share held as of March 27, 2023. The Series F Preferred Stock will confer significant voting rights, including 1,000,000 votes per share on issues related to a proposed reverse stock split. Any shares not voted will be automatically redeemed. The Preferred Stock is uncertificated and non-transferable, except with the transfer of common stock. Further details will follow in a Form 8-K report. This action aims to facilitate the company's corporate governance and potential structural changes.
Predictive Oncology (Nasdaq: POAI) has engaged LifeSci Advisors to implement a comprehensive investor relations program aimed at raising awareness of its proprietary drug discovery assets. CEO Raymond F. Vennare emphasized the company's potential, leveraging its artificial intelligence drug discovery engine, PEDAL™, alongside a biobank of over 150,000 tumor samples. With the AI-assisted drug development market valued at $1.1 billion and growing at 30% annually, the timing is opportune for outreach to analysts and institutional investors.
Predictive Oncology (Nasdaq: POAI) announced significant progress in drug discovery and development, focusing on leveraging its AI-driven PEDAL platform and substantial biobank of tumor samples. The company aims to revitalize cancer therapy development through strategic partnerships, like the recent collaboration with Cvergenx, and a new initiative, Accelerating Compound Exploration (ACE). The company holds a strong cash position for at least 18 months, with plans to address Nasdaq listing requirements due to a price deficiency. The rapidly growing AI drug discovery market presents opportunities, as Predictive’s innovative solutions position it favorably against industry challenges.
Predictive Oncology Inc. (NASDAQ: POAI) announced a strategic partnership with Cvergenx on February 23, 2023, aimed at transforming radiation oncology through a genomics-based AI approach. This collaboration will utilize Predictive Oncology’s drug discovery and AI capabilities alongside Cvergenx’s precision genomics radiation therapy platform (pGRT™) to optimize radiotherapy for better patient outcomes. The partnership seeks to tailor radiation doses based on individual tumor biology, potentially saving an estimated 40,000 lives annually if overall patient survival improves by just 4%.
CEO Raymond Vennare emphasizes that this innovation could shift radiation therapy into the era of precision medicine.
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