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) 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.
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.
FAQ
What is the current stock price of Predictive Oncology (POAI)?
What is the market cap of Predictive Oncology (POAI)?
What does Predictive Oncology Inc. specialize in?
What are the key segments of Predictive Oncology’s business?
What recent collaborations has Predictive Oncology announced?
How accurate is Predictive Oncology’s AI platform PEDAL?
What is the significance of Predictive Oncology’s 3D cell culture model?
How does Predictive Oncology’s STREAMWAY System benefit the healthcare industry?
What are GPCRs and why are they important in cancer treatment?
What is Predictive Oncology’s biobank?
Where is Predictive Oncology headquartered?
Who can I contact for investor relations at Predictive Oncology?
