Predictive Oncology Inc Stock Price, News & Analysis

Predictive Oncology (Nasdaq: POAI) announced that stockholders approved an amendment to increase the number of authorized shares from 100 million to 200 million, effective August 17, 2021. This decision was made at a special stockholder meeting held on August 10, 2021, which was adjourned to August 17, 2021. The company utilizes AI for personalized medicine and drug discovery through its segments: Skyline, Helomics, and Soluble Biotech.

Predictive Oncology (POAI) reported strong financial results for Q2 2021, highlighting revenue of $350,207, a 92% increase from the previous year. The company's cash balance rose to $44.9 million, up from $3.4 million in 2020, following a $19.4 million equity offering. Total Stockholders’ Equity surged to $53.1 million. Key developments include the partnership with Cellevate AB and the construction of new GMP facilities expected to enhance revenue growth. CEO J. Melville Engle indicated confidence in retaining growth momentum through strategic investments in personnel and technology.

Predictive Oncology (Nasdaq: POAI) announced that its Special Meeting of Stockholders, held on August 10, 2021, has been adjourned to solicit more votes for the Charter Proposal, which aims to double the authorized shares from 100 million to 200 million. The reconvened meeting is set for August 17, 2021. Other proposals, including an increase in stock incentive plan shares and the appointment of an independent auditor, were approved. The Charter Proposal is now considered 'routine' under NYSE rules, allowing brokers to vote without instruction if beneficial owners do not respond.

Predictive Oncology (NASDAQ: POAI) has announced promising initial results from its subsidiary Helomics' AI models predicting ovarian cancer outcomes using genomic data. The model, developed with data from the 100,000 Genomes Project, shows nearly 70% accuracy in predicting post-treatment survival rates for ovarian cancer patients. This innovation aims to personalize therapies and improve patient prognoses, addressing the lack of biomarkers in ovarian cancer treatment. The results will be available as a preprint on Biorxiv this summer.

Predictive Oncology (NASDAQ: POAI) announced an expansion of its services through GMP facility qualifications at its subsidiaries, Soluble Biotech Inc. and TumorGenesis Inc. Soluble Biotech's facility in Alabama will enhance its ability to develop formulations for clinical trials, broadening its customer base and fostering long-term partnerships. TumorGenesis in Massachusetts will produce cancer cell media to facilitate research on ovarian and breast cancer cells. These developments aim to improve collaboration with pharmaceutical companies and enhance research capabilities.

Predictive Oncology (NASDAQ: POAI) has successfully completed a registered direct offering of 15,520,911 shares of common stock and warrants, generating approximately $21.34 million in gross proceeds. The offering was priced at $1.375 per share, with warrants exercisable at $1.25 each upon increasing authorized stock to 200 million shares. The funds will be allocated for working capital purposes. H.C. Wainwright & Co. served as the exclusive placement agent for this offering, which was executed under an effective shelf registration statement.

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.