Predictive Oncology Has Regained Compliance with Nasdaq’s Minimum Bid Price Requirement
November 25 2019 - 8:30AM
Predictive Oncology Inc. (NASDAQ: POAI) (“Predictive Oncology” or
“the Company”), focused on applying artificial intelligence (“AI”)
to personalized medicine and drug discovery, today announced that
based on a notification letter (the “Notification Letter on
Compliance”) recently received from the Listing Qualifications
Department of the Nasdaq Stock Market Inc. (the “Nasdaq”), the
Company has regained compliance with the minimum bid price
requirement set forth in Rule 5550(a)(2) of the Nasdaq Listing
Rules (the “Minimum Bid Price Requirement”).
On November 16, 2018, the Company received a
notification letter from the Nasdaq (the “Notification Letter on
Deficiency”) indicating that the closing bid price per share had
been below $1.00 for a period of 30 Consecutive business days and
that the Company did not meet the Minimum Price Bid Requirement.
According to the Notification Letter on Deficiency, if at any time
during the Compliance Period, the closing bid price for the Company
is at least $1.00 for a minimum of 10 consecutive business days,
Nasdaq will provide the Company a written confirmation of
compliance and the matter will be closed.
According to the Notification Letter on
Compliance, the staff of Nasdaq has determined that for the 10
consecutive business days, beginning from October 29, 2019 to
November 11, 2019, the closing bid price Of the Company’s common
stock has been at $1.00 per share or greater, and the Company has
regained compliance with the Minimum Bid Price Requirement, and the
matter is now closed.
About Predictive Oncology
Inc.
Predictive Oncology (Nasdaq: POAI) operates
through five segments (Domestic, International, Clinical, CRO and
DCHIP), which contain four subsidiaries; Helomics, TumorGenesis,
Skyline Medical and Skyline Europe. Helomics applies artificial
intelligence to its rich data gathered from patient tumors to both
personalize cancer therapies for patients and drive the development
of new targeted therapies in collaborations with pharmaceutical
companies. Helomics’ CLIA-certified lab provides clinical testing
that assists oncologists in individualizing patient treatment
decisions, by providing an evidence-based roadmap for therapy. In
addition to its proprietary precision oncology platform, Helomics
offers boutique CRO services that leverage its TruTumor™,
patient-derived tumor models coupled to a wide range of multi-omics
assays (genomics, proteomics and biochemical), and an AI-powered
proprietary bioinformatics platform (D- CHIP) to provide a tailored
solution to its clients’ specific needs. Predictive Oncology’s
TumorGenesis subsidiary is developing a new rapid approach to
growing tumors in the laboratory, which essentially “fools” cancer
cells into thinking they are still growing inside a patient. Its
proprietary Oncology Discovery Technology Platform kits will assist
researchers and clinicians to identify which cancer cells bind to
specific biomarkers. Once the biomarkers are identified they can be
used in TumorGenesis’ Oncology Capture Technology Platforms which
isolate and help categorize an individual patient’s heterogeneous
tumor samples to enable the development of patient specific
treatment options. Helomics and TumorGenesis are focused on ovarian
cancer. Predictive Oncology’s Skyline Medical division markets its
patented and FDA cleared STREAMWAY System, which automates the
collection, measurement and disposal of waste fluid, including
blood, irrigation fluid and others, within a medical facility,
through both domestic and international divisions. The company has
achieved sales in five of the seven continents through both direct
sales and distributor partners. For more information, please visit
www.predictive-oncology.com.
Forward-looking Statements
Certain of the matters discussed in the press
release contain forward-looking statements that involve material
risks to and uncertainties in the Company’s business that may cause
actual results to differ materially from those anticipated by the
statements made herein. Such risks and uncertainties include (i)
risks related to the recent merger with Helomics, including the
fact that the combined company will not be able to continue
operating without additional financing; possible failure to realize
anticipated benefits of the merger; costs associated with the
merger may be higher than expected; the merger may result in
disruption of the Company’s and Helomics’ existing businesses,
distraction of management and diversion of resources; and the
market price of the Company’s common stock may decline as a result
of the merger; (ii) risks related to our partnerships with other
companies, including the need to negotiate the definitive
agreements; possible failure to realize anticipated benefits of
these partnerships; and costs of providing funding to our partner
companies, which may never be repaid or provide anticipated
returns; and (iii) other risks and uncertainties relating to the
Company that include, among other things, current negative
operating cash flows and a need for additional funding to finance
our operating plan; the terms of any further financing, which may
be highly dilutive and may include onerous terms; unexpected costs
and operating deficits, and lower than expected sales and revenues;
sales cycles that can be longer than expected, resulting in delays
in projected sales or failure to make such sales; uncertain
willingness and ability of customers to adopt new technologies and
other factors that may affect further market acceptance, if our
product is not accepted by our potential customers, it is unlikely
that we will ever become profitable; adverse economic conditions;
adverse results of any legal proceedings; the volatility of our
operating results and financial condition; inability to attract or
retain qualified senior management personnel, including sales and
marketing personnel; our ability to establish and maintain the
proprietary nature of our technology through the patent process, as
well as our ability to possibly license from others patents and
patent applications necessary to develop products; Predictive’s
ability to implement its long range business plan for various
applications of its technology; Predictive’s ability to enter into
agreements with any necessary marketing and/or distribution
partners and with any strategic or joint venture partners; the
impact of competition, the obtaining and maintenance of any
necessary regulatory clearances applicable to applications of
Predictive’s technology; and management of growth and other risks
and uncertainties that may be detailed from time to time in the
Company’s reports filed with the SEC, which are available for
review at www.sec.gov. This is not a solicitation to buy or sell
securities and does not purport to be an analysis of Predictive’s
financial position. See Predictive’s most recent Annual Report on
Form 10-K, and subsequent reports and other filings at
www.sec.gov.
Contact:Charles Moskowitz info@MoneyInfo-LLC.com
339-201-7457
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