TinyGemsBreaks – Predictive Oncology Inc. (NASDAQ: POAI) Releases Year-End 2023 Financial Report, Business Update

Company: Predictive Oncology Inc. (POAI)
Category: News

Predictive Oncology (NASDAQ: POAI), a science-driven company leveraging its proprietary artificial-intelligence (“AI”) and machine-learning capabilities, extensive biorepository of tumor samples, CLIA laboratory and GMP facility to accelerate oncologic drug discovery and enable drug development, is reporting on its financial and operating results for the year ended Dec. 31, 2023; the company also released a corporate update. The report noted POAI experienced a net loss of some $14 million on total revenue of approximately $1.8 million for the year; the company also reported a 50% reduction in basic and diluted net loss per common share for the full year 2023. In addition, highlights of the report included progress with its FluGen collaboration, which is designed to bring a first-of-its-kind intranasal flu vaccine to market; continued engagement with Cancer Research Horizons (“CRH”); and the completion of an AI-driven, multiyear study of ovarian cancer with UPMC Magee-Womens Hospital in Pittsburgh. “While it has been just a little over 12 months since we implemented our new strategic vision for the company, I am extremely pleased with the progress we have made to date introducing our unique blend of assets and capabilities to leading oncologic drug developers globally, while in parallel continuing to incorporate learnings from this first year to further refine our business development efforts,” said Predictive Oncology CEI and chair Raymond F. Vennare in the press release. “By leveraging our PEDAL AI and machine-learning capabilities, vast biobank of tumor samples, repository of decades of drug-response data and CLIA wet lab, we are able to introduce patient and tumor heterogeneity into the earliest phases of preclinical development, enabling drug developers to gain insight into the future, increasing the likelihood of commercial success. . . . We remain in the very early stages of the biopharma industry embracing AI to increase the speed and accuracy of drug discovery, and I believe we are ideally positioned to be a leader in this rapidly evolving sector.”

To view the full press release, visit https://ibn.fm/6Vs06

About Predictive Oncology Inc.

Predictive Oncology is on the cutting edge of the rapidly growing use of artificial intelligence (“AI”) and machine learning to expedite early drug discovery and enable drug development for the benefit of cancer patients worldwide. The company’s scientifically validated AI platform, PEDAL, is able to predict with 92% accuracy if a tumor sample will respond to a certain drug compound, allowing for a more informed selection of drug/tumor type combinations for subsequent in-vitro testing. With the company’s vast biobank of more than 150,000 assay-capable heterogenous human tumor samples, Predictive Oncology offers its academic and industry partners one of the industry’s broadest AI-based, drug-discovery solutions, further complemented by its wholly owned Clinical Laboratory Improvement Amendments (“CLIA”) lab and GMP facilities. For more information about the company, please visit www.Predictive-Oncology.com.

NOTE TO INVESTORS: The latest news and updates relating to POAI are available in the company’s newsroom at http://ibn.fm/POAI

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