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) launched the ACE (Accelerating Compound Exploration) program, aimed at enhancing oncology drug development with academic institutions. This initiative will provide early-stage researchers access to the company's PEDAL platform, which utilizes machine learning and a biobank of 150K tumor samples to evaluate drug compounds. The ACE program seeks to expedite the identification of promising drug candidates while alleviating funding constraints. No up-front costs will be incurred by participating investigators. Applications are accepted until March 31, 2023.
Predictive Oncology (NASDAQ: POAI) has appointed Pamela Bush, Ph.D., MBA, as the new Chief Business Officer. Dr. Bush will oversee business development and growth strategies, enhancing oncology drug discovery efforts in collaboration with biopharma partners. With over 20 years of experience, including her previous role as Senior Vice President at Predictive Oncology, she aims to lead strategic and operational initiatives to expedite drug development processes. CEO Raymond F. Vennare praised her extensive industry expertise and insights. Dr. Bush's leadership is expected to significantly impact the company’s direction and operational growth.
Predictive Oncology (NASDAQ: POAI) appointed Dr. Robert F. Murphy to its Scientific Advisory Board, enhancing its research capabilities. Dr. Murphy, a pioneer in machine learning for biological data, previously led the Computational Biology Department at Carnegie Mellon University. His expertise will support the company's goal of advancing cancer therapies through its PEDAL platform, which integrates machine learning with a biobank of over 150,000 tumor samples. The move is expected to strengthen Predictive Oncology's scientific initiatives and growth strategy.
Predictive Oncology (NASDAQ: POAI) has appointed Dr. Marc Malandro to its Scientific Advisory Board, enhancing its leadership amidst its focus on cancer research and drug development. Dr. Malandro, Vice President at the Chan Zuckerberg Initiative, brings extensive expertise in genomics and biopharmaceuticals. His appointment aims to bolster partnerships with pharmaceutical companies and accelerate the company's drug discovery initiatives. Predictive Oncology leverages AI and a biobank of over 150,000 cancer tumors to improve oncological therapies and patient outcomes.
Predictive Oncology (NASDAQ: POAI) has appointed Matthew J. Hawryluk, Ph.D., to its Board of Directors to bolster strategic initiatives and commercialization efforts. Dr. Hawryluk, currently the Executive Vice President and Chief Business Officer of Gritstone bio, is recognized for his expertise in the biopharma industry and has been instrumental in achieving over 20 FDA approvals. His background includes roles at Foundation Medicine and Thermo Fisher Scientific. This appointment aims to enhance Predictive Oncology's capacity in AI-driven cancer therapy development.
Predictive Oncology (NASDAQ: POAI) reported a 45% revenue growth for Q3 2022, totaling $455,827, compared to $313,663 in Q3 2021, along with an improved gross profit margin of 76%, up from 65% year-over-year. The company appointed Raymond F. Vennare as CEO and Chairman, signaling a leadership shift. Operating cash flow increased by 8% year-over-year, but net loss for the first nine months of 2022 grew to $17,821,524 due to a substantial goodwill impairment. The company ended the quarter with $25,393,738 in cash.
Predictive Oncology (NASDAQ: POAI) has appointed David S. Smith, JD, to its Board of Directors. Smith is a seasoned biotech executive and legal expert on the therapeutic use of human tissues. His background includes extensive experience in life sciences, including venture financing and regulatory matters. This appointment aligns with the company's strategy to enhance its leadership amid anticipated growth in its AI-driven cancer therapy initiatives. Smith's expertise is expected to bolster the value of Predictive Oncology's proprietary biorepository in oncology drug discovery.
Predictive Oncology (NASDAQ: POAI) announces the appointment of Raymond F. Vennare as Chief Executive Officer and Chairman of the Board, effective November 1. Vennare, a board member since September 2021, is recognized for his extensive experience in biotechnology and bioinformatics. He aims to lead the company's expansion in oncology drug development through AI-driven solutions and a vast biobank of over 150,000 tumors. His leadership is expected to enhance Predictive Oncology's capabilities in the pharmaceutical sector.
Predictive Oncology (NASDAQ: POAI) has announced significant advancements to enhance its services for pharmaceutical and biotech clients. The opening of a Good Manufacturing Practices (GMP) lab will facilitate the transition from pre-clinical drug development to IND qualification, enabling faster entry to phase 1 clinical trials. Additionally, Dr. Kamal Egodage joins as a strategic advisor to lead formulation development and sales strategies, contributing to the launch of innovative products, including a new static light scattering instrument and a high-capacity endotoxin removal column.
Predictive Oncology (NASDAQ: POAI) announces the retirement of CEO and Chairman J. Melville Engle, effective October 31, 2022. Engle, 72, has been pivotal since joining the board in 2016, becoming CEO in 2021. Under his leadership, the company expanded its oncology drug development solutions. Engle’s notable achievement includes the acquisition of zPREDICTA to enhance 3D tumor model production for drug development. The company is working on a succession plan for new leadership to drive future growth.
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