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 (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.
Predictive Oncology Inc. (NASDAQ: POAI) announced preliminary results from its Discovery 2021 program, highlighting its AI-driven CoRE™ program's ability to identify potential new uses for chemotherapy drugs in ovarian cancer. The integration of Helomics' data with the PeDAL™ (Patient-centric Discovery by Active Learning) initiative allowed for predictions on drug efficacy across various cancers. PeDAL demonstrated confident predictions from a limited sample, potentially reducing drug development costs for partners. The company emphasizes its multiomic approach to personalized cancer therapies.
Predictive Oncology (Nasdaq: POAI) held its Annual Meeting of Stockholders on December 23, 2021, but it was adjourned due to insufficient quorum. Only 46% of the shares entitled to vote were represented. The meeting has been rescheduled for December 30, 2021, to allow more stockholders to participate. Stockholders of record as of October 26, 2021, are encouraged to vote before December 29, 2021. The company continues to solicit votes during this period. The proxy statement detailing voting proposals is available on the SEC website and the company's investor relations page.
Predictive Oncology (POAI) is enhancing its capabilities through the acquisition of zPREDICTA, a leader in cancer solutions, known for its patented 3D cell culture platform. This strategic move aims to expand POAI's reach in personalized cancer therapies, leveraging zPREDICTA's established revenue streams and client base in pharmaceutical sectors. The acquisition, alongside the hiring of Pamela Bush to lead sales efforts, supports POAI's transition from R&D to a revenue-generating biopharmaceutical company.
Predictive Oncology (POAI) has announced the appointment of Pamela Bush, Ph.D., MBA, as SVP of Strategic Sales and Business Development. With nearly 20 years of experience, Bush aims to commercialize the company's innovative cancer research technologies. CEO Mel Engle highlighted her role in optimizing treatment predictions for pharmaceutical and healthcare partners. Additionally, Bush will assist in business development and integrate the recently acquired zPREDICTA into the company's offerings.
Predictive Oncology (POAI) has acquired zPREDICTA, enhancing its portfolio with a patented 3D cell culture platform aimed at improving cancer therapy development. This acquisition is expected to provide an immediate revenue stream and long-term growth due to anticipated synergies. zPREDICTA specializes in tumor-specific models that closely mimic human cancer environments, which is vital for drug discovery. The integration of zPREDICTA’s technology with Predictive Oncology's AI-driven database promises to enhance treatment outcome predictions, delivering greater insights for pharmaceutical partners.
Predictive Oncology (POAI) reported its Q3 2021 financial results, highlighting a reduced loss per share of $0.08 from $0.46 in Q3 2020. Revenue for the quarter was $313,663, down from $480,757 year-over-year, primarily due to decreased sales of STREAMWAY System units. Cash increased significantly to $41 million for the nine months ended September 30, 2021, compared to $2.3 million in 2020. The company has no outstanding debt and reported operational cash usage decreased. The gross profit margin remained steady at approximately 65%.
Predictive Oncology is advancing cancer research via AI technologies aimed at improving drug discovery and clinical outcomes. As of October 19, 2021, the company launched a new website showcasing its mission and subsidiaries: Helomics, Soluble Biotech, and TumorGenesis. These entities work collaboratively to predict treatment outcomes and develop optimized cancer drugs. Helomics utilizes a vast database and AI for personalizing therapies, while Soluble Biotech streamlines protein formulation. TumorGenesis focuses on studying ovarian cancer cells for better treatment insights.
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