Predictive Oncology Inc Stock Price, News & Analysis

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.

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.