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) 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.
Predictive Oncology (NASDAQ: POAI) reported its financial results for 2020, recording revenue of $1,252,272, a decline from $1,411,565 in 2019. The company strengthened its balance sheet with net proceeds of $12,952,689 through debt and equity offerings. Significant acquisitions include Soluble Therapeutics and Quantitative Medicine, aimed at enhancing drug discovery capabilities. The gross profit margin increased to 64%, while operational expenses decreased to $2,351,709, showcasing cost management efforts. However, the company faced net losses of $25,884,397, growing from $19,390,766 in 2019.
Predictive Oncology (NASDAQ: POAI) announced the development of a new Generation 3 STREAMWAY® System aimed at enhancing fluid waste management within medical facilities. This updated system features a 25% size reduction, portable installation options, and an automated dripless design for improved reliability. The company will not require a separate FDA submission for the device, ensuring streamlined approval. CEO Dr. Carl Schwartz indicated that a Generation 3 Plus model will follow, integrating an on-board vacuum pump.
Predictive Oncology (NASDAQ: POAI) has achieved significant milestones in its ovarian cancer research, completing genomic and transcriptomic sequencing in collaboration with UPMC-Magee Women Hospital. This data will form the backbone of AI-driven predictive models for patient outcomes and aid in an internal drug repurposing initiative. CEO Dr. Schwartz emphasized the potential of leveraging unique assets to create value and expand AI-driven clinical models across various cancers.
Predictive Oncology (NASDAQ: POAI) has successfully completed a private placement of common stock and warrants, raising $17.6 million. The company issued 9,043,766 shares at $1.95 per share and warrants for an additional 4,521,883 shares at an exercise price of $2.00. Proceeds will be allocated to debt repayment and corporate purposes. The company is required to file a registration statement covering the resale of these shares within five days, aiming for effectiveness within 90 days.
On February 18, 2021, Predictive Oncology Inc. (NASDAQ: POAI) announced a private placement to raise approximately $17.6 million by issuing 9,043,766 shares of its common stock and warrants for 4,521,883 shares at $1.95 per share. The placement is expected to close around February 22, 2021, pending customary conditions. The company plans to utilize approximately $5.88 million of the proceeds to repay debt and the remainder for corporate purposes. The warrants have an exercise price of $2.00 and a term of five and a half years.
Predictive Oncology (NASDAQ: POAI) announced significant advancements in ovarian cancer research through its subsidiary, TumorGenesis. Researchers utilized TumorGenesis’s media to study how ovarian cancer cells migrate, which could lead to targeted drug therapies aimed at blocking metastasis. This research highlights the potential for several billion dollars in future revenues for biotech companies. Additionally, the study identified a mechanism involving PARP inhibitors, which, when combined with PARGs, could improve patient outcomes. This research underscores the role of AI in personalized medicine and drug discovery.
Predictive Oncology (NASDAQ: POAI) announced the closing of a registered direct offering of 4,222,288 common shares at $1.75 per share, generating approximately $7.4 million in gross proceeds. The offering was conducted under Nasdaq regulations and included unregistered warrants for 2,111,144 shares at an exercise price of $2.00. The company plans to use the net proceeds for working capital. H.C. Wainwright & Co. served as the exclusive placement agent for the offering.
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?
