Predictive Oncology Inc. - POAI STOCK NEWS

Predictive Oncology Inc. (NASDAQ: POAI) reported Q2 2022 results showcasing a solid financial position with cash and equivalents increasing to $28 million, a 12% rise from the previous quarter. The company recognized $0.4 million in net sales revenue, up 6% year-over-year, with an improved gross profit margin of 64%. However, the company faced a $7.2 million non-cash goodwill impairment. Key developments included the launch of the PeDAL AI product and the appointment of Dr. Julia Kirshner as Chief Scientific Officer, aimed at enhancing product integration and growth opportunities.

Predictive Oncology (NASDAQ: POAI) announced the appointment of Julia Kirshner, Ph.D., as Chief Scientific Officer, effective August 1, 2022. Dr. Kirshner, currently Senior Vice President and President of zPREDICTA, will oversee the scientific processes for the company’s oncology drug development solutions. She is tasked with driving product strategies, leading the establishment of a scientific advisory board, and consolidating the TumorGenesis division in Pittsburgh by September 30, 2022. Dr. Kirshner’s extensive experience in drug development and her academic background positions her to enhance POAI’s R&D capabilities.

Predictive Oncology (Nasdaq: POAI) has successfully concluded two concurrent offerings, generating gross proceeds of approximately $7.2 million. The first offering involved issuing 3,837,280 shares at $0.60 per share, totaling around $2.3 million. In a concurrent private placement, warrants for the same number of shares were issued. The second offering included 8,162,720 shares at $0.60, raising about $4.9 million. The amended warrants had their exercise price reduced to $0.70. Proceeds will primarily be utilized for working capital.

Predictive Oncology (NASDAQ: POAI) announced it has entered into agreements with institutional investors to raise approximately $7.2 million through two concurrent offerings. The first offering involves 3,837,280 shares at $0.60 per share, raising about $2.3 million. The second offering will sell 8,162,720 shares, also at $0.60 per share, totaling around $4.9 million. Additionally, existing warrants will be amended to have a reduced exercise price of $0.70. Proceeds are intended for working capital.

Predictive Oncology (NASDAQ: POAI) reported Q1 2022 revenue of $314,568, up from $280,317 in Q1 2021, driven by a 6% increase in the Skyline segment and initial sales from zPREDICTA. The company reduced its loss per share to $0.05 from $0.11 year-over-year. Cash and equivalents stood at $25 million with no long-term debt. While general and administrative expenses decreased to $2.4 million, operating expenses rose due to zPREDICTA's staffing. The gross profit margin remained steady at 65%. The firm is optimistic about its commercialization efforts for Helomics and zPREDICTA.

Predictive Oncology (NASDAQ: POAI) has appointed Theresa Ferguson as Senior Director of Marketing. This role is pivotal as the company moves toward commercializing its AI-driven technologies aimed at developing personalized cancer therapies. Ferguson's expertise in marketing and public relations will support and guide strategic initiatives to enhance the company's market presence and profitability. CEO J. Melville Engle emphasizes this appointment as a step towards achieving sales and marketing traction in core markets, reflecting the company’s commitment to business growth.

Predictive Oncology (POAI) reported its financial results for 2021, revealing revenue of $1.4 million, an increase from $1.25 million in 2020. The company strengthened its balance sheet with $55 million raised, and a significant acquisition of zPREDICTA, enhancing its drug discovery capabilities. However, it recorded a net loss of $19.7 million, down from $25.9 million in 2020, with accumulated deficits reaching $128 million. Operational expenses rose due to payroll and cloud computing costs, while goodwill impairment from previous acquisitions impacted financial metrics, emphasizing the need for sustainable growth.

Predictive Oncology (NASDAQ: POAI) has achieved a significant milestone with its PeDAL platform through the Discovery 21 campaign, which validated the platform's ability to make high-confidence predictions on ovarian tumor samples. The PeDAL platform demonstrated a drug response prediction accuracy of 91.8% across 175 FDA-approved drugs and 130 tumor samples. This breakthrough is expected to attract pharmaceutical partnerships and enhance drug discovery efficiency, aligning with the company’s mission of optimizing cancer therapies.

Predictive Oncology (NASDAQ: POAI) aims to lead in the AI drug discovery market, projected to reach $20 billion within three years. The company plans to market its PeDAL™ platform, having completed successful evaluations, which enhance treatment predictions for specific cancers. POAI anticipates establishing new partnerships and generating revenue from PeDAL-powered projects this year. The development costs for new oncology drugs exceed $35M, making efficient drug discovery crucial. With a database of over 150,000 tumors, POAI employs AI to optimize cancer treatments and improve patient outcomes.