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) announced that its Special Meeting of Stockholders, held on August 10, 2021, has been adjourned to solicit more votes for the Charter Proposal, which aims to double the authorized shares from 100 million to 200 million. The reconvened meeting is set for August 17, 2021. Other proposals, including an increase in stock incentive plan shares and the appointment of an independent auditor, were approved. The Charter Proposal is now considered 'routine' under NYSE rules, allowing brokers to vote without instruction if beneficial owners do not respond.
Predictive Oncology (NASDAQ: POAI) has announced promising initial results from its subsidiary Helomics' AI models predicting ovarian cancer outcomes using genomic data. The model, developed with data from the 100,000 Genomes Project, shows nearly 70% accuracy in predicting post-treatment survival rates for ovarian cancer patients. This innovation aims to personalize therapies and improve patient prognoses, addressing the lack of biomarkers in ovarian cancer treatment. The results will be available as a preprint on Biorxiv this summer.
Predictive Oncology (NASDAQ: POAI) announced an expansion of its services through GMP facility qualifications at its subsidiaries, Soluble Biotech Inc. and TumorGenesis Inc. Soluble Biotech's facility in Alabama will enhance its ability to develop formulations for clinical trials, broadening its customer base and fostering long-term partnerships. TumorGenesis in Massachusetts will produce cancer cell media to facilitate research on ovarian and breast cancer cells. These developments aim to improve collaboration with pharmaceutical companies and enhance research capabilities.
Predictive Oncology (NASDAQ: POAI) has successfully completed a registered direct offering of 15,520,911 shares of common stock and warrants, generating approximately $21.34 million in gross proceeds. The offering was priced at $1.375 per share, with warrants exercisable at $1.25 each upon increasing authorized stock to 200 million shares. The funds will be allocated for working capital purposes. H.C. Wainwright & Co. served as the exclusive placement agent for this offering, which was executed under an effective shelf registration statement.
Predictive Oncology (NASDAQ: POAI) has announced a registered direct offering, securing agreements with institutional investors for the sale of 15,520,911 shares at $1.375 each, accompanied by warrants for the same number of shares at an exercise price of $1.25. The offering, totaling approximately $21.34 million in gross proceeds, is set to close around June 15, 2021. Proceeds will primarily fund working capital. The warrants will be exercisable upon increasing authorized shares to 200 million and expire three years thereafter.
Predictive Oncology (NASDAQ: POAI) announced its subsidiaries Helomics, TumorGenesis, and Soluble Biotech will participate in the BIO DIGITAL conference from June 10-11 & 14-18, 2021. The event, featuring over 2,600 participating companies, focuses on biotechnology partnerships and innovations. Helomics aims to leverage its PeDAL™ platform for precision medicine, while Soluble Biotech showcases its rapid formulation development technology. TumorGenesis emphasizes its unique media for culturing cancer cells accurately, enhancing research capabilities.
Predictive Oncology (NASDAQ: POAI) announced a partnership with Cellevate AB to combine resources for advancing cancer research. This collaboration, focusing initially on ovarian cancer, aims to utilize TumorGenesis' specialized media and Cellevate's engineered matrix materials. Their goal is to enhance the development of cancer treatments, addressing the high failure rates in drug approval processes that exceed $2 billion. The partnership signifies an important step toward providing researchers with advanced tools for combating difficult diseases.
Predictive Oncology (Nasdaq: POAI) reported a net loss of $0.11 per share for Q1 2021, compared to a loss of $0.93 in Q1 2020. The company recorded revenue of $280,317, down from $294,943 in the prior year. Cash and cash equivalents reached $27.3 million, up from $3.1 million a year earlier, after net proceeds of $35.6 million from equity transactions. Total stockholders' equity increased to $35.5 million. Significant developments include a contract with a major pharmaceutical company for protein formulation and the initiation of a drug repurposing project focused on ovarian cancer.
Predictive Oncology (NASDAQ: POAI) has appointed Dr. Christina Jenkins to its Board of Directors. Dr. Jenkins, a strategic advisor and venture investor, has extensive experience in clinical medicine and healthcare investment. Her previous role as CEO of OneCity Health Services involved managing a $1.2B initiative aimed at improving care models for 1 million lives. The company anticipates that Dr. Jenkins will provide valuable insights and enhance its strategic position in the market.
Predictive Oncology (NASDAQ: POAI) has appointed J. Melville Engle as the new Chief Executive Officer, retaining his position as Chairman of the Board. Engle, who joined the board in 2016, brings over 20 years of leadership experience in biotechnology and healthcare. He replaces Dr. Carl I. Schwartz, who has retired. Engle's past achievements include significant sales growth at Dey L.P., transforming its product strategy, and driving organizational success in several reputable companies. The company aims for growth through Engle's extensive expertise in biopharmaceuticals.
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