POAI - InvestorNewsBreaks - Predictive Oncology (NASDAQ: POAI) Releases Year-End 2021 Financial Report Corporate Update
Predictive Oncology (NASDAQ: POAI), a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, is reporting its financial and corporate results for the year ended Dec. 31, 2021. Highlights of the report include positive results of POAI subsidiary Helomics’ Discovery 21 proof of concept of its PeDAL(R) platform, added revenue stream, a growing synergistic customer base and disruptive technology through the company’s acquisition of zPREDICTA Inc. Other highlights include the hiring of Pamela Bush, PhD, designed to expand strategic sales and business development and the $55 million raise from at-the-market and private investment deals and warrant exercises. Additional appointments and partnerships also made the highlight list, along with the building qualification of Good Manufacturing Practice facilities and the launch of a new website highlighting AI-powered cancer research advancements. “We are pleased to report that the conclusion of FY 2021 saw a strengthened balance sheet and we believe even greater value for our shareholders,” said Predictive Oncology chair and CEO J. Melville Engle in the press release. “This value was augmented by the Helomics Discovery 21 Patient-centric Drug Discovery Active Learning (PeDAL) proof-of-concept, and a strategic corporate acquisition in November, in line with our ongoing efforts to commercialize the products and services in our four reportable business segments. . . . M&A activity in 2021 was highlighted by the acquisition of zPREDICTA, Inc., whose established business model and integration of organ-specific cellular and extracellular elements into 3D culture models for in vitro cancer drug testing is believed to be accretive on a short- as well as long-term basis, and immediately made it a reportable business segment for Predictive. We believe this acquisition and the valuable IP that came with it will provide even more competitive advantages in helping identify, develop, and expedite new cancer therapies as it complements our company purpose of treating specific cancers through predicted cancer treatment outcomes and optimal drug formulations.”
To view the full press release, visit https://ibn.fm/tKzUS
About Predictive Oncology
Predictive Oncology is a knowledge-driven company focused on applying artificial intelligence (“AI”) to develop personalized cancer therapies, which can lead to more effective treatments and improved patient outcomes. Using artificial intelligence, Predictive Oncology uses a database of 150,000+ cancer tumors, categorized by patient type, against drug compounds to determine optimal therapies to be used to ultimately eliminate cancer. As the drug-discovery community has now realized, a genomics-based approach to cancer research and drug development is insufficient to achieve the promise of personalized therapeutics. Predictive Oncology instead takes a multiomic approach, which considers the vast multitude of factors that make each cancer unique. Rather than operating based on the equivalent of a bird’s-eye view, Predictive Oncology makes possible a more personalized and effective approach to cancer research and treatment.
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