Predictive Oncology Inc Stock Price, News & Analysis

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.

Predictive Oncology Inc. (NASDAQ: POAI) has announced a registered direct offering, issuing approximately 4.22 million shares at $1.75 per share, resulting in gross proceeds of about $7.4 million. The company will also issue warrants for up to 2.11 million shares with an exercise price of $2.00 per share. The offering is set to close on or around February 16, 2021. Funds will be directed towards working capital. The shares are offered under a previously filed registration statement with the SEC.