Predictive Oncology Inc Stock Price, News & Analysis

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.

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.