Predictive Oncology Inc Stock Price, News & Analysis

Predictive Oncology Inc. (NASDAQ: POAI) announced a reverse stock split of its common stock at a ratio of 1-for-20, effective April 24, 2023, at 12:01 a.m. This decision aims to comply with the minimum bid price requirements for maintaining its listing on the Nasdaq Capital Market. Following the split, the number of outstanding shares will decrease from approximately 79.6 million to about 3.98 million. Stockholders’ interests will remain proportionate, although fractional shares will be rounded up. The reverse split was authorized by stockholders on April 19, 2023, during a special meeting. The company also noted that there will be proportional adjustments to equity awards, convertible preferred stock, and warrants.

Predictive Oncology (POAI) has announced that its Special Meeting of Stockholders, scheduled for April 17, 2023, was adjourned due to insufficient quorum. The meeting is set to reconvene on April 19, 2023, to discuss a proposal for a reverse stock split ranging from 1-for-2 to 1-for-25. Stockholders of record as of March 28, 2023, are eligible to vote, and previous proxies will be honored at the reconvened meeting. The company is actively soliciting additional votes to ensure the proposal's approval.

Predictive Oncology aims to leverage its AI platform, PEDAL, and a biorepository of tumor samples to enhance drug discovery for cancer treatment. The company emphasizes the importance of stockholder participation in the upcoming vote.

Predictive Oncology Inc. (NASDAQ: POAI) has appointed Christoph Reinhard, Ph.D., MBA, to its Scientific Advisory Board. Dr. Reinhard, a leader in oncology research and drug development, brings extensive experience from his role as Chief Scientific Officer at CELLphenomics GmbH and over a decade at Eli Lilly. The company emphasizes Dr. Reinhard’s insights will enhance its oncology drug development initiatives, particularly leveraging its AI-driven PEDAL platform, which predicts tumor responses with 92% accuracy. This strategic move aims to strengthen Predictive Oncology’s capabilities in delivering innovative cancer therapies.

Predictive Oncology (NASDAQ: POAI) has announced a partnership with Integra Therapeutics to enhance gene editing capabilities for cancer therapies. The collaboration leverages Predictive Oncology's expertise in protein expression and proprietary technology, HSC™, designed to optimize biomolecular interactions essential for drug development. This partnership aims to facilitate new discoveries in cell therapy. Additionally, Predictive Oncology recently launched EndoBind-R II, a specialized product for endotoxin removal, showcasing their commitment to innovative solutions in biopharma.

Predictive Oncology Inc. (Nasdaq: POAI) reported a net loss of $25.7 million on total net revenue of $1.5 million for the year ended December 31, 2022. The company achieved significant milestones, including the successful completion of the Discovery 21 program, which validated its PEDAL™ drug discovery platform. Partnerships with Cancer Research Horizons and Cvergenx were announced to enhance oncology drug development. Financial challenges included an impairment of goodwill totaling $7.2 million. As of December 31, 2022, cash and cash equivalents decreased to $22.1 million from $28.2 million in 2021, reflecting operational losses.

Predictive Oncology (NASDAQ: POAI) has partnered with Cancer Research Horizons to enhance oncology drug development using the PEDAL™ platform. This collaboration aims to accelerate cancer therapy development from compounds sourced through Cancer Research UK’s extensive network. The PEDAL platform employs AI to improve early drug discovery by predicting responses to treatments, thus optimizing drug-tumor combinations for clinical trials. Both organizations emphasize patient benefit and the importance of personalized treatment. The partnership also involves revenue sharing and the potential for PEDAL's integration into future drug discovery processes.