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Predictive Oncology Closes Registered Direct Offering
Newsfilter· 2025-02-19 22:20
Core Viewpoint - Predictive Oncology Inc. has successfully closed a registered direct offering of 363,336 shares of common stock at a price of $1.50 per share, generating gross proceeds of approximately $545,004 before expenses [1][2]. Company Overview - Predictive Oncology is a leader in AI-driven drug discovery and biologics, utilizing its AI platform, PEDAL, which predicts with 92% accuracy the response of tumor samples to drug compounds [5]. - The company has a biobank of over 150,000 assay-capable heterogeneous human tumor samples, providing extensive AI-based drug discovery solutions [5]. - Predictive Oncology is headquartered in Pittsburgh, PA [5]. Offering Details - The offering was conducted under a "shelf" registration statement declared effective by the SEC on May 21, 2024, and the final prospectus supplement was filed on February 19, 2025 [3]. - H.C. Wainwright & Co. acted as the exclusive placement agent for the offering [1].
Predictive Oncology Announces Registered Direct Offering Priced At-The-Market Under Nasdaq Rules
GlobeNewswire· 2025-02-19 13:00
Core Viewpoint - Predictive Oncology Inc. has announced a registered direct offering of 363,336 shares of common stock at a price of $1.50 per share, aiming to raise approximately $545,004 before expenses [1][2]. Group 1: Offering Details - The offering is expected to close on or about February 19, 2025, pending customary closing conditions [1]. - H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering [2]. - The net proceeds from the offering will be used for working capital and general corporate purposes [2]. Group 2: Regulatory Information - The shares are being offered under a "shelf" registration statement on Form S-3, which was declared effective by the SEC on May 21, 2024 [3]. - A final prospectus supplement and accompanying prospectus will be filed with the SEC [3]. Group 3: Company Overview - Predictive Oncology is focused on AI-driven drug discovery and biologics, utilizing its AI platform, PEDAL, which predicts with 92% accuracy the response of tumor samples to drug compounds [5]. - The company has a biobank of over 150,000 assay-capable heterogeneous human tumor samples, providing extensive AI-based drug discovery solutions [5]. - Predictive Oncology is headquartered in Pittsburgh, PA [5].
Predictive Oncology Reports Positive Results Utilizing Artificial Intelligence for Drug Repurposing
GlobeNewswire· 2025-02-18 13:00
Core Viewpoint - Predictive Oncology Inc. has successfully identified several abandoned or discontinued drugs for further testing and development, particularly in ovarian and other cancer types, creating significant business development opportunities with large pharmaceutical companies [1][6]. Group 1: Drug Repurposing Initiative - The company has developed a registry of promising drug candidates that can potentially be repurposed for additional or alternative indications using publicly available datasets [2]. - By leveraging its proprietary AI and machine learning platform, along with a vast biobank of primary tumor samples, Predictive has identified drug candidates with promising mechanisms of action for clinical testing, focusing initially on ovarian, colon, and breast cancer [3][5]. - Early results from the AI platform indicate that it can predict an additional 10 times the number of measured experiments, significantly reducing the time required for wet lab testing and identifying two drugs that outperformed a known standard of care for colon cancer [4]. Group 2: Market Potential and Growth - The market for repurposed drugs is projected to grow from $32.1 billion in 2023 to $51.8 billion by 2033, representing a compound annual growth rate (CAGR) of 4.5% [6]. - The company believes that repurposing approved or abandoned drugs for additional indications offers a meaningful opportunity to develop new therapies faster and at a lower cost compared to traditional drug discovery methods [6]. Group 3: Technological Capabilities - Predictive Oncology's AI platform, PEDAL, has a prediction accuracy of 92% regarding tumor response to specific drug compounds, enhancing the selection process for drug/tumor type combinations for further testing [8]. - The company possesses a biobank of over 150,000 assay-capable heterogeneous human tumor samples, providing one of the industry's broadest AI-based drug discovery solutions [8].
Predictive Oncology Partners with Switzerland-Based Tecan Group Ltd. to Expand High-Throughput Drug Screening to Include Human Tumor Spheroids Using Automated Imaging and 3D Analysis
Newsfilter· 2025-02-10 13:00
Core Insights - Predictive Oncology Inc. announced positive results from a study in collaboration with Tecan, presented at the 2025 SLAS International Conference, focusing on the use of patient-derived tumor spheroids for drug discovery [1][4] Group 1: Company Overview - Predictive Oncology is a leader in AI-driven drug discovery and biologics, utilizing a vast biobank of cryopreserved live cell tumor specimens [1][9] - The company’s AI platform, PEDAL, predicts with 92% accuracy whether a tumor sample will respond to specific drug compounds, enhancing drug selection processes [9] - Tecan, a partner in the study, is a global leader in laboratory automation, with 2023 sales of CHF 1,074 million (approximately USD 1,194 million) [7] Group 2: Research and Development - The study utilized patient-derived tumor models (PDTMs) to develop personalized therapies, addressing challenges in accessibility and scalability of primary tumor cells through cryopreserved dissociated tumor cells (DTCs) [2][5] - Optimized growth conditions and drug treatment protocols were established for tumor models derived from cryopreserved DTCs, demonstrating that 3D models are more representative of in vivo conditions compared to 2D models [3] - The research highlights the importance of monitoring tumor growth and drug response through advanced imaging techniques and automated analysis [6] Group 3: Market Insights - The high throughput screening (HTS) market is projected to reach $69.5 billion by 2032, with a compound annual growth rate (CAGR) of 12.18%, driven by the adoption of 3D cell cultures and organoids [4]
Predictive Oncology Announces Planned European Launch of its ChemoFx® Treatment Selection Marker and Tumor Profiling Assay
GlobeNewswire· 2025-01-16 13:00
Core Insights - Predictive Oncology Inc. plans to launch its ChemoFx® drug response assay in Europe, focusing on gynecological cancers, particularly ovarian cancer, while expanding its availability in the United States [1][3] - The ChemoFx® assay quantifies individual cancer patients' tumor responses to various chemotherapeutic agents, aiding in personalized treatment selection [2][4] - The company has a biobank of approximately 150,000 live cell tumor samples, with nearly half being gynecological cancers, which supports its AI-driven drug discovery platform [4][6] Company Overview - Predictive Oncology utilizes AI and machine learning to enhance biomarker and drug discovery, achieving a 92% accuracy rate in predicting tumor responses to drug compounds [6] - The ChemoFx® assay previously generated over $25 million in annual gross revenues when first introduced to the market, indicating its potential for significant revenue generation [5] - The company is headquartered in Pittsburgh, PA, and operates a CLIA laboratory to support its drug discovery solutions [6]
Renovaro to Acquire Predictive Oncology in All-Stock Transaction
Newsfilter· 2025-01-06 14:15
Acquisition provides access to critical resources encompassing a biobank of more than 150,000 tumor specimens, 200,000 pathology slides and decades of longitudinal drug response data Data provides a critical pathway to progress AI using the high-speed computing power provided through collaboration with Nebul Combines Predictive Oncology's AI-driven multi-omic drug discovery platform with Renovaro's AI Cube multi-omic artificial intelligence to advance both cancer diagnostics and early drug discovery Planne ...
Predictive Oncology Announces Agreement to be Acquired by Renovaro
Newsfilter· 2025-01-06 14:10
- Combination creates immediate scientific synergies by harnessing complementary AI / ML platforms to improve patient outcomes across multiple cancer indications – - Deal terms align shareholders' interest, augment business development opportunities and positioning in the capital markets - PITTSBURGH, Jan. 06, 2025 (GLOBE NEWSWIRE) -- Predictive Oncology Inc. (NASDAQ:POAI), a leader in AI-driven drug discovery, today announced that it has entered into a binding letter of intent with Renovaro, Inc. (NASDAQ: ...
Predictive Oncology (POAI) - 2024 Q3 - Quarterly Results
2024-11-13 12:00
EXHIBIT 99.1 Predictive Oncology Reports Third Quarter 2024 Financial Results and Provides Strategic Update Company initiates process to explore a broad range of strategic alternatives to maximize shareholder value PITTSBURGH, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Predictive Oncology (Nasdaq: POAI), a science driven company leveraging its proprietary artificial intelligence and machine learning capabilities, extensive biorepository of tumor samples, and CLIA laboratory, to accelerate oncologic drug discovery an ...
Predictive Oncology (POAI) - 2024 Q3 - Quarterly Report
2024-11-12 22:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________________________ to _________________________ Commission File Number: 001-36790 Predictive Oncology Inc. (Exact name of registrant as specified i ...
Predictive Oncology (POAI) - 2024 Q2 - Earnings Call Transcript
2024-08-14 16:47
Predictive Oncology Inc. (NASDAQ:POAI) Q2 2024 Earnings Conference Call August 14, 2024 8:30 AM ET Company Participants Glenn Garmont – Investor Relations Raymond Vennare – Chairman and Chief Executive Officer Josh Blacher – Chief Financial Officer Conference Call Participants Operator Good day, and thank you for standing by. Welcome to the Predictive Oncology Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ prepared presentation, th ...