Predictive Oncology Inc Stock Price, News & Analysis

Predictive Oncology (NASDAQ: POAI) announced its subsidiary, TumorGenesis, Inc., has secured repeat media orders from two leading research centers in New York and Boston for culturing ovarian cancer cells. Additionally, a private company placed an order for ovarian cancer research. The company's CEO emphasized the significance of developing a 'living library' of cancer cells for drug discovery, stating it could lead to effective treatments for ovarian cancer. The 3D cancer cell culture media market is projected to grow significantly, reaching $3.2 billion by 2027.

Predictive Oncology (NASDAQ: POAI) has completed a registered direct offering of 3,650,840 shares at $0.842 each, raising $3.074 million before expenses. In a related private placement, it issued warrants for 1,825,420 shares at an exercise price of $0.80 per share. The funds will be used for working capital. The offering was managed by H.C. Wainwright & Co., and the shares were offered under an effective shelf registration statement. This transaction highlights the company's ongoing efforts in applying AI for personalized medicine and drug discovery.

Predictive Oncology (NASDAQ: POAI) announced definitive agreements for the sale of 3,650,840 shares at $0.842 each, totaling approximately $3.0 million in gross proceeds through a registered direct offering. The company will also issue warrants for 1,825,420 shares with an exercise price of $0.80, expiring in five and a half years. The offering is expected to close around January 12, 2021. Proceeds are intended for working capital purposes. H.C. Wainwright & Co. serves as the exclusive placement agent for this transaction.

Predictive Oncology (NASDAQ: POAI) has launched its new PeDAL fee-for-service offering aimed at pharmaceutical companies. This innovative service enhances patient-centric drug discovery by integrating the CoRE™ technology with Helomics' TumorSpace™ knowledgebase, featuring 150,000 tumor drug response profiles. The integration promises improved success rates for translating new drugs into clinical settings, resulting in reduced costs and shorter timelines. CEO Dr. Carl Schwartz expects revenue-generating projects from this service in the first half of 2021.

Predictive Oncology (NASDAQ: POAI) has engaged Landon Capital for investor relations services effective December 30, 2020. This partnership aims to enhance communication with investors, analysts, and financial institutions by providing insightful updates on the company's developments. Predictive Oncology operates in personalized medicine and drug discovery, utilizing AI technology across its segments, including Helomics, TumorGenesis, Skyline Medical, and Soluble Biotech. The initiative is anticipated to bolster investor engagement and awareness regarding the company's strategic direction.

Predictive Oncology has canceled its Special Meeting of Stockholders originally set for December 1, 2020, due to insufficient quorum as only 47% of shares were voted. Despite this, nearly 88% of those who voted supported the proposal to reincorporate from Delaware to Nevada, primarily to avoid high franchise taxes. The Board will pursue stockholder approval for this reincorporation in the future. Predictive Oncology leverages AI in personalized medicine, operating through segments like Helomics and Skyline Medical.

Predictive Oncology (NASDAQ: POAI) announced the reconvening of its virtual Special Meeting of Stockholders to December 30, 2020, at 3 p.m. CST. The company urges shareholders to vote 'FOR' the proposal to reincorporate in Nevada, which would eliminate an annual Delaware franchise tax of approximately $170,000, saving about $158,000 annually. The board believes Nevada's laws provide better protections for the company and its officers. The reincorporation requires majority approval from outstanding shares, as previous votes did not meet the threshold.

Predictive Oncology (NASDAQ: POAI) announced that its Special Meeting of Stockholders, originally scheduled for December 1, 2020, was adjourned due to lack of quorum. The meeting will reconvene on December 30, 2020, at 3 p.m. CST, via live audio webcast. Stockholders of record, dated as of October 28, 2020, are encouraged to vote by proxy to ensure their votes are counted. The company operates through three segments with a focus on applying artificial intelligence in drug discovery and personalized medicine.

Predictive Oncology (POAI) reported its Q3 2020 financial results, maintaining revenues at $0.5 million, similar to the previous year. The company achieved a gross margin of 64%, up from 60%, attributed to reduced manufacturing costs. However, operating loss rose to $5.6 million, influenced by a $3.0 million non-cash goodwill impairment. The net loss increased to $6.9 million, or $(0.46) per share, compared to $(1.31) per share in 2019. Business highlights included signing a contract with a pharmaceutical company and licensing 71 unique ovarian cancer cell lines, bringing the total to 96.