Filed Pursuant to Rule 424(b)(3)
Registration No. 333-239851
PREDICTIVE ONCOLOGY INC.
1,396,826 Shares
Common Stock
This prospectus relates to the offer and resale of up to 1,396,826
shares of our common stock, par value $0.01 per share, by the selling stockholders as listed in the selling stockholders table
on page 13 (the “Selling Stockholders”).
For more information about the Selling Stockholders, please see
the section of this prospectus entitled “Selling Stockholders” beginning on page 13.
The Selling Stockholders may sell any shares offered under this
prospectus at fixed prices, prevailing market prices at the time of sale, at varying prices or negotiated prices.
One or more of the Selling Stockholders may be deemed to be “underwriters”
within the meaning of the Securities Act of 1933, as amended (the “Securities Act”), in connection with the resale
of our common stock, and any broker-dealers or agents that are involved in such resales may be deemed to be “underwriters”
within the meaning of the Securities Act in connection therewith. In such event, any commissions received by such broker-dealers
or agents and any profit on the resale of the shares purchased by them may be deemed to be underwriting commissions or discounts
under the Securities Act. For more information, please see the section of this prospectus titled “Plan of Distribution”
beginning on page 14.
We will not receive any proceeds from the resale of shares of common
stock by the Selling Stockholders. We will, however, receive the proceeds of any cash exercises of warrants.
Our common stock is listed on the Nasdaq Capital Market under the symbol “POAI.”
On July 7, 2020, the last reported per share price of our common stock on the Nasdaq Capital Market was $1.56 per share.
Investing in our common stock involves a high degree of risk. Before deciding whether
to invest in our securities, you should consider carefully the risks that we have described beginning on page 9 of this prospectus
under the caption “Risk Factors” and in the documents incorporated by reference into this prospectus.
Neither the Securities and Exchange Commission nor any state securities commission
has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to
the contrary is a criminal offense.
The date of this prospectus is July 21, 2020.
Table of Contents
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Page
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About this Prospectus
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1
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Prospectus Summary
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2
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Risk Factors
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9
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Cautionary Note Regarding Forward Looking Statements
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9
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Use of Proceeds
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10
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Description of Capital Stock
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10
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Selling Stockholders
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13
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Plan of Distribution
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14
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Legal Matters
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15
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Experts
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15
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Where You Can Find More Information
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15
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Incorporation of Certain Documents by Reference
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15
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ABOUT THIS PROSPECTUS
This prospectus is part of a registration statement that
we have filed with the Securities and Exchange Commission (the “SEC”) pursuant to which the Selling Stockholders named
herein may, from time to time, offer and sell or otherwise dispose of the securities covered by this prospectus. You should not
assume that the information contained in this prospectus is accurate on any date subsequent to the date set forth on the front
cover of this prospectus or that any information we have incorporated by reference is correct on any date subsequent to the date
of the document incorporated by reference, even though this prospectus is delivered or securities are sold or otherwise disposed
of on a later date. It is important for you to read and consider all information contained in this prospectus, including the Information
Incorporated by Reference herein, in making your investment decision. You should also read and consider the information in the
documents to which we have referred you under the captions “Where You Can Find More Information” and “Incorporation
of Information by Reference” in this prospectus.
Neither we nor the Selling Stockholders have authorized
any dealer, salesman or other person to give any information or to make any representation other than those contained or incorporated
by reference in this prospectus. You should not rely upon any information or representation not contained or incorporated by reference
in this prospectus. This prospectus does not constitute an offer to sell or the solicitation of an offer to buy any of our securities
other than the securities covered hereby, nor does this prospectus constitute an offer to sell or the solicitation of an offer
to buy any securities in any jurisdiction to any person to whom it is unlawful to make such offer or solicitation in such jurisdiction.
Persons who come into possession of this prospectus in jurisdictions outside the United States are required to inform themselves
about, and to observe, any restrictions as to the offering and the distribution of this prospectus applicable to those jurisdictions.
We further note that the representations, warranties
and covenants made in any agreement that is filed as an exhibit to any document that is incorporated by reference in the prospectus
were made solely for the benefit of the parties to such agreement, including, in some cases, for the purpose of allocating risk
among the parties to such agreements, and should not be deemed to be a representation, warranty or covenant to you. Moreover, such
representations, warranties or covenants were accurate only as of the date when made. Accordingly, such representations, warranties
and covenants should not be relied on as accurately representing the current state of our affairs.
Unless the context otherwise requires, references in
this prospectus to “Predictive,” the “Company,” “we,” “us,” and “our”
refer to Predictive Oncology Inc.
You should rely only on the information contained or incorporated by reference, as
applicable, in this prospectus, any prospectus supplement, or other offering materials related to an offering of securities described
in this prospectus. We have not authorized anyone to provide you with different or additional information. If anyone provides you
with different or additional information, you should not rely on it.
You should not assume that the information contained or incorporated by reference,
as applicable, in this prospectus, any prospectus supplement, or other offering materials related to an offering of securities
described in this prospectus is accurate as of any date other than the date of that document. Neither the delivery of this prospectus,
any prospectus supplement or other offering materials related to an offering of securities described in this prospectus, nor any
distribution of securities pursuant to this prospectus, any such prospectus supplement, or other offering materials shall, under
any circumstances, create any implication that there has been no change in the information set forth or incorporated by reference,
as applicable, in this prospectus, any such prospectus supplement or other offering materials since the date of each such document.
Our business, financial condition, results of operations and prospects may have changed since those dates.
This prospectus does not constitute, and any prospectus supplement or other offering
materials related to an offering of securities described in this prospectus will not constitute, an offer to sell, or a solicitation
of an offer to purchase, the offered securities in any jurisdiction to or from any person to whom or from whom it is unlawful to
make such offer or solicitation in such jurisdiction.
PROSPECTUS SUMMARY
The following is a summary of what we believe to be the most important aspects
of our business and the offering of our securities under this prospectus. We urge you to read this entire prospectus, including
the more detailed financial statements, notes to the financial statements and other information incorporated by reference from
our other filings with the SEC. Each of the risk factors could adversely affect our business, operating results and financial condition,
as well as adversely affect the value of an investment in our securities.
Company Overview
Predictive Oncology Inc. (NASDAQ: POAI) operates operate in two
primary business areas: first, application of artificial intelligence (“AI”) in our precision medicine business, to
provide AI-driven predictive models of tumor drug response to improve clinical outcomes for patients and to assist pharmaceutical,
diagnostic, and biotech industries in the development of new personalized drugs and diagnostics; and second, production of the
United States Food and Drug Administration (“FDA”)-cleared STREAMWAY® System for automated, direct-to-drain medical
fluid disposal and associated products.
We have three operating segments: domestic, international, and Helomics.
Domestic and international consist of the STREAMWAY System product sales. The Helomics segment consists of clinical testing and
contract research. Our TumorGenesis subsidiary is included within corporate. Going forward, we have determined that we will focus
our resources on the Helomics segment and our primary mission of applying AI to precision medicine and drug discovery.
Precision Medicine Business
Our precision medicine business, conducted in our Helomics division,
is committed to improving the effectiveness of cancer therapy using our proprietary, multi-omic tumor profiling platform, one-of-a-kind
database of historical tumor data, and the power of AI to build predictive models of tumor drug response.
Helomics’ mission is to improve clinical outcomes for patients
by partnering with pharmaceutical, diagnostic, and academic organizations to bring innovative clinical products and technologies
to the marketplace. In addition to our proprietary patient-derived (“PDx”) tumor profiling platform for oncology, Helomics
offers: 1) data and AI driven contract research organization (“CRO”) services for clinical and translational research
that leverage PDx tumor models, 2) a wide range of multi-omics assays (genomics, proteomics, and biochemical), and 3) AI driven
predictive models to drive the discovery of targeted therapies.
Contract Research Organization (CRO) and AI-Driven Business
We believe leveraging our unique, historical database of the drug
responses of over 150,000 patient tumors to build AI and data-driven multi-omic predictive models of tumor drug response and outcome
will provide actionable insights critical to both new drug development and individualizing patient treatment. Our large historical
database of tumors and related data, plus our ability to obtain the associated patient outcome data is a significant competitive
advantage. Cancer treatments require at least 5 years of testing to provide sufficient information on progression-free survival
rates. While competitors must wait for this data, we can leverage it today. These AI-driven predictive models, coupled with the
PDx platform will create a unique service to drive revenue generating projects with pharma, diagnostic and biotech companies in
areas such as biomarker discovery, drug screening, drug repurposing, and clinical trials. The AI-driven models will, once validated,
also provide clinical decision support to help oncologists individualize treatment.
Our CRO/AI business is committed to improving the process of targeted
therapy discovery. Our proprietary, TruTumor multi-omic PDx profiling and AI platform coupled to our vast multi-omic database of
biochemical and clinical information on patients with cancer, uses deep learning to understand the association between the mutational
profile of a patient’s tumor and the drug response profile of the tumor that is grown in the lab. This approach is used to
build an AI-driven predictive model that offers actionable insights of which mutations in the tumor are associated with drugs to
which the tumor is sensitive and which will lead to the optimal outcome for the patient.
Our CRO services business applies these AI-driven predictive models
coupled with our unique proprietary TruTumor PDx model to address a range of needs from discovery through clinical and translational
research, to clinical trials and diagnostic development and validation as noted below:
Research
Development
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Patient enrichment & selection for trials
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Clinical trial optimization
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Clinical Decision Support
We believe this market segment has significant growth potential
and we believe we are differentiated from traditional CRO’s and other precision medicine and AI companies through these unique
assets:
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clinically validated PDx platform;
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database of over 150,000 tumor cases;
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experienced AI team and AI platform;
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ability to access outcome data going back over ten years for over 120,000 of the tumor cases in our database.
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Industry and Market Background and Analysis – Precision
Medicine Business
Precision medicine is an emerging approach for disease treatment
and prevention that considers individual variability in genes, disease, environment, and lifestyle for each case to develop effective
therapies. This approach allows doctors and researchers to predict more accurately which treatment, dose, and therapeutic regimen
could provide the best possible outcome. The global precision medicine market is estimated to reach $141.7 billion by 2026, up
from $43.6 billion in 2016. This growth is supported by the industry’s investment in precision medicine, with leading biopharmaceutical
companies doubling their investments in the technology over the last five years, with the potential to increase by an additional
33% over the next five years (Source: BIS Research’s Global Precision Medicine Market to Reach $141.70 Billion by 2026, December
2017).
Over the past several decades, researchers have identified molecular
patterns that are useful in defining the prognosis of a given cancer, determining the appropriate treatments, and designing targeted
treatments to address specific molecular alterations. The objective of precision medicine as directed towards cancer therapy is
to develop treatments tailored to the genetic changes in each person’s cancer, intended to improve the effectiveness of the
therapeutic regimen and minimize the treatment’s effects on healthy cells. However, for a majority of patients the reality
is that while many mutations in the patient’s tumor can be identified most are not actionable with current protocols. As
a result, the impact of targeted therapies is low, and uptake in clinical practice is inconsistent.
There is now a growing realization that genomics alone will not
be enough to achieve the promise of personalized therapeutics, especially for cancer. A multi-omic approach (e.g. assessing the
genome, transcriptome, epigenome, proteome, responseome, and microbiome) provides researchers and clinicians the comprehensive
information necessary for new drug development and individualized therapy. Comparatively, the multi-omic approach provides a three-dimensional,
360-degree view of the cancer, while genomics alone is just a flat, one-dimensional view. However, multi-omic data is difficult
to access quickly as it is both costly and time consuming to initiate prospective data collection, and few comprehensive, multi-omic
datasets exist, especially specific to cancer.
Clinical Testing
Via our Helomics subsidiary, we offer a group of clinically relevant,
cancer-related tumor profiling and biomarker tests for gynecological cancers that determine how likely the patient is to respond
to various types of chemotherapy and which therapies might be indicated by relevant tumor biomarkers.
Clinical testing is comprised of ChemoFx and BioSpeciFx tests. The
ChemoFx test determines how a patient’s tumor specimen responds to a panel of various chemotherapy drugs, while the BioSpeciFx
test evaluates the expression of a specific genes, or biomarkers, in the patient’s tumor. Our proprietary TruTumor™
PDx tumor platform provides us with the ability to work with actual live tumor cells to study the unique biology of the patient’s
tumor in order to understand how the patient responds to treatment.
Testing involves obtaining tumor tissue during biopsy or surgery
which is then sent to our Clinical Laboratory Improvement Amendments (“CLIA”) certified laboratory using a special
collection kit. Two samples of the tumor tissue are obtained, fixed and live. The fixed tumor tissue is tested for a panel of biomarkers
using a combination of Immunohistochemistry and Quantitative Polymerase Chain Reactions. The live tumor tissue is grown in the
lab and used to test the drug response of the tumor to a panel of standard-of-care drugs. When testing is complete a report is
provided back to the clinician with recommended therapies based on the drug response and biomarker profiles. Helomics integrates
the drug response with other genomic and molecular data and compares it with historical data in our database to generate a roadmap
that provides additional context to help the oncologist personalize patient treatment.
Recently Completed Acquisitions
In May 2020, the Company completed the purchase of substantially
all of the assets of Soluble Therapeutics, Inc. and BioDtech, Inc. The Soluble Therapeutics business offers services to pharmaceutical
and biotech companies to screen proteins for both solubility and stability, with possible applications to vaccines, antibodies
and other proteins used in disease treatment. The acquired technologies also specialize in removing, identifying, and isolating
endotoxins from products that are used by researchers to culture cells and to help identify endotoxins that maybe hidden within
a protective matrix.
On July 1, 2020, the Company entered into an Asset Purchase Agreement
with Quantitative Medicine LLC, a Delaware limited liability company (“Quantitative”) and its owners and simultaneously
completed the acquisition of substantially all of the assets owned by Quantitative. Quantitative is a biomedical analytics and
computational biology company which has developed its novel, computational drug-discovery platform CoRETM, an innovative
platform that predicts the main effects of drugs on target molecules that mediate disease, which is expected to dramatically reduce
the time, cost and financial risk of discovering new therapeutic drugs. In the acquisition, the Company provided consideration
in the form of 954,719 shares of common stock (the “Transaction Shares”), which, when issued, had a market value of
approximately $1,750,000. Half of the Transaction Shares, representing 477,359 shares were deposited and held in escrow in connection
with the sellers’ indemnification obligations, while 207,144 of the remaining Transaction Shares were issued to Carnegie
Mellon University (“CMU”) in satisfaction of all pre-closing amounts owed to CMU by Seller under a technology licensing
agreement between CMU and Seller that was assumed by the Company on the Closing Date. The remaining Transaction Shares were issued
to Quantitative, subject to certain restrictions.
Business Strategy for Precision Medicine Business
We are a data and AI-driven discovery services company that provides
AI-driven predictive models of tumor drug response to improve clinical outcomes for patients by leveraging our two primary unique
assets:
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A clinically validated PDx tumor profiling platform, TruTumor, that can generate drug response profiles and other multi-omic data. Over $200 million has been invested in this platform and was clinically validated in ovarian cancer.
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Data on the drug response profiles of over 150,000 tumors across 137 cancer types tested using the PDx platform in over 10+ years of clinical testing. We call this database TumorSpace™.
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Over 38,000 of the more than 150,000 clinically validated cases
in our TumorSpace™ database are specific to ovarian cancer. The data in TumorSpace is highly differentiated, having both
drug response data, biomarkers and access to historical outcome data from those patient samples. We intend to generate additional
data (genomics and transcriptomics) from these tumor samples to deliver a multi-omic approach to the pharmaceutical industry. Through
our Helomics subsidiary, we will utilize both this historical data and the PDx platform to build AI-driven predictive models of
tumor drug response and outcome through our CancerQuest 2020 (“CCQ2020”) initiative, which is still ongoing. Once validated,
we will commercialize these AI-driven predictive models in revenue generating service projects with pharmaceutical, biotech, and
diagnostic companies.
A key part of our commercialization strategy for the CCQ2020 initiative
is the understanding that our AI-driven models of tumor drug response serves a key unmet need of pharmaceutical, diagnostic, and
biotech industries for actionable multi-omic insights on cancer. In collaboration with these companies, using the predictive models,
we will accelerate the search for more individualized and effective cancer treatments, through revenue generating projects in biomarker
discovery, drug screening, drug repurposing, and clinical trials.
Our commercial strategy has identified a portfolio of revenue generating
project types that leverage the predictive models, our AI expertise, PDx tumor profiling, and CLIA laboratory to provide custom
solutions utilizing our full array of assets and expertise.
The CCQ2020 initiative will focus initially on ovarian cancer, which
is where we have the most expertise, samples, data, and access to outcomes. However, we intend to expand the initiative to include
cancers of the lung, breast, colon, and prostate, and will actively seek partners to assist in that effort.
Within the clinical sector, we will utilize these predictive models
(once validated) for new clinical decision support tools for individualizing therapy for patients with cancer. These clinical decision
support tools are a longer revenue horizon than the research projects with pharmaceutical companies but, importantly, will provide
a steady stream of additional data generation to refine the predictive models for both clinical and research applications.
Skyline Medical – The STREAMWAY System
Sold through our subsidiary, Skyline Medical, Inc (“Skyline
Medical”), the STREAMWAY System virtually eliminates staff exposure to blood, irrigation fluid and other potentially infectious
fluids found in the healthcare environment. Antiquated manual fluid handling methods that require hand carrying and emptying filled
fluid canisters present both an exposure risk and potential liability. Skyline Medical’s STREAMWAY System fully automates
the collection, measurement, and disposal of waste fluids and is designed to: 1) reduce overhead costs to hospitals and surgical
centers; 2) improve compliance with the Occupational Safety and Health Administration (“OSHA”) and other regulatory
agency safety guidelines; 3) improve efficiency in the operating room and radiology and endoscopy departments, thereby leading
to greater profitability; and 4) provide greater environmental stewardship by helping to eliminate the approximately 50 million
potentially disease-infected canisters that go into landfills each year in the United States.
In December 2019, we announced that we had received indications
of interest from several parties for the possible acquisition of our Skyline Medical division, and we reaffirmed that we are focusing
our resources on our precision medicine business. We continue to operate the Skyline Medical business with a focus on maximizing
our strategic opportunities with respect to this division. As of the date of this Registration Statement, we have no definitive
agreement in place.
Industry and Market Background and Analysis - Infectious and
Bio-hazardous Waste Management
There has long been recognition of the collective potential for
ill effects to healthcare workers from exposure to infectious/bio-hazardous materials. Federal and state regulatory agencies have
issued mandatory guidelines for the control of such materials, and in particular, bloodborne pathogens. OSHA’s Bloodborne
Pathogens Standard (29 CFR 1910.1030) requires employers to adopt engineering and work practice controls that would eliminate or
minimize employee exposure from hazards associated with bloodborne pathogens. In 2001, in response to the Needlestick Safety and
Prevention Act, OSHA revised the Bloodborne Pathogens Standard. The revised standard clarifies and emphasizes the need for employers
to select safer needle devices and to involve employees in identifying and choosing these devices. The revised standard also calls
for the use of “automated controls” as it pertains to the minimization of healthcare exposure to bloodborne pathogens.
Most surgical procedures produce potentially infectious materials
that must be disposed with the lowest possible risk of cross-contamination to healthcare workers. Current standards of care allow
for these fluids to be retained in canisters and located in the operating room where they can be monitored throughout the surgical
procedure. Once the procedure is complete these canisters and their contents are disposed using a variety of methods, all of which
include manual handling and result in a heightened risk to healthcare workers for exposure to their contents. Canisters are the
most prevalent means of collecting and disposing of infectious fluids in hospitals today. Traditional, non-powered canisters and
related suction and fluid disposable products are exempt and do not require FDA clearance.
We believe that our virtually hands free direct-to-drain technology
(1) significantly reduces the risk of healthcare worker exposure to these infectious fluids by replacing canisters, (2) further
reduces the risk of worker exposure when compared to powered canister technology that requires transport to and from the operating
room, (3) reduces the cost per procedure for handling these fluids, and (4) enhances the surgical team’s ability to collect
data to accurately assess the patient’s status during and after procedures. In addition to the traditional canister method
of waste fluid disposal, several other powered medical devices have been developed that address some of the deficiencies described
above. Most of these competing products continue to utilize some variation on the existing canister technology, and while not directly
addressing the canister, most have been successful in eliminating the need for an expensive gel and its associated handling and
disposal costs. Our existing competitors with products already on the market have a clear competitive advantage over us in terms
of brand recognition and market exposure. In addition, many of our competitors have extensive marketing and development budgets
that could overpower an emerging growth company like ours.
We expect the hospital surgery market to continue to increase due
to population growth, the aging of the population, and expansion of surgical procedures to new areas (for example, use of the endoscope)
which requires more fluid management and new medical technology.
STREAMWAY System Product Sales
Our domestic and international segments consist primarily of sales
of the STREAMWAY System, as well as sales of the proprietary cleaning fluid and filters for use with the STREAMWAY System. We manufacture
an environmentally conscious system for the collection and disposal of infectious fluids resulting from surgical and other medical
procedures. We have been granted patents for the STREAMWAY System in the United States, Canada, and Europe. We distribute our products
to medical facilities where bodily and irrigation fluids produced during medical procedures must be contained, measured, documented,
and disposed. Our products minimize the exposure potential to the healthcare workers who handle such fluids. In addition to simplifying
the handling of these fluids, our goal is to create products that dramatically reduce staff exposure without significant changes
to established operative procedures, historically a major industry stumbling block to innovation and product introduction.
The STREAMWAY System is a wall-mounted fully automated system that
disposes of an unlimited amount of suction fluid providing uninterrupted performance for physicians while virtually eliminating
healthcare workers’ exposure to potentially infectious fluids collected during surgical and other patient procedures. The
STREAMWAY System also provides an innovative way to dispose of ascites and pleural fluid with no evac bottles, suction canisters,
transport, or risk of exposure. We also manufacture and sell two disposable products required for the operation of the STREAMWAY
System: a bifurcated dual port procedure filter with tissue trap and a single use bottle of cleaning solution. Both items are utilized
on a single procedure basis and must be discarded after use. The STREAMWAY disposables are a critical component of our business
model. Recurring revenues from the sale of the disposables are expected to be significantly higher over time than the revenues
from the initial sale of the unit. We have exclusive distribution rights to the disposable solution.
We sell our medical device products directly to hospitals and other
medical facilities using employed sales representatives, independent contractors and distributors.
TumorGenesis Division
Our subsidiary, TumorGenesis, is pursuing a new rapid approach to
growing tumors in the laboratory, which essentially “fools” the cancer cells into thinking they are still growing inside
the patient. We have also announced a proposed joint venture with GLG Pharma focused on using their combined technologies to bring
personalized medicines and testing to ovarian and breast cancer patients, especially those who present with ascites fluid (over
one-third of patients).
Ability to Continue as a Going Concern
We have suffered recurring losses from operations, and we have significant
debt repayment obligations that are due within the current year. Although we have been able to fund our current working capital
requirements, principally through debt and equity financing, there is no assurance that we will be able to do so in the future.
As a result of our capital needs for operations and debt repayment, we need to raise significant capital, and there is no assurance
that we will be successful in raising sufficient capital. As a result management has substantial doubt about our ability to continue
as a going concern.
Corporate Information
We were originally incorporated on April 23, 2002 and reincorporated
in Delaware in 2013. We changed our name from Skyline Medical, Inc. to Precision Therapeutics, Inc. on February 1, 2018 and to
Predictive Oncology, Inc. on June 13, 2019.
Our address is 2915 Commers Drive, Suite 900, Eagan, Minnesota 55121.
Our telephone number is (651) 389-4800, and our website address is www.predictive-oncology.com. The information contained on, or
that can be accessed through, our website is not part of this prospectus.
Description of the Private Placement
Warrant Exercise Letter Agreements and Registration Rights Agreement
On June 25, 2020, the Company entered into Warrant Exercise Letter
Agreements (the “Exercise Agreements”) with certain accredited institutional investors (the “Holders”)
holding warrants of the Company (the “Existing Warrants”) to purchase up to an aggregate of 1,396,826 shares of Common
Stock, issued on May 8, 2020, exercisable immediately at $1.45 per share of Common Stock and terminating five and one-half years
after the date of issuance. The resale of the shares of Common Stock underlying the Existing Warrants (the “Warrant Shares”)
has been registered pursuant to the registration statement on Form S-1 (File No. 333-239207) (the “Registration Statement”)
previously filed with, and declared effective by, the Securities and Exchange Commission (the “Commission”).
Pursuant to the Exercise Agreements, the Holders have agreed to
immediately exercise in cash (the “Exercise”) the Existing Warrants at the exercise price of $1.45 per share plus an
additional $0.125 per New Warrant (as defined below), and as consideration the Company will issue to each Holder the applicable
number of Warrant Shares and a new unregistered Common Stock Purchase Warrant (a “New Warrant”) to purchase up to a
number of shares (the “New Warrant Shares”) of Common Stock equal to 100% of the number of Warrant Shares issued pursuant
to the exercise of the Existing Warrants. The New Warrants are exercisable immediately and have a term of five and one-half years
and an exercise price per share equal to $1.80. Each Holder (together with its respective affiliates) may not exercise any portion
of the New Warrants to the extent that the Holder would beneficially own more than 4.99% of the Company’s outstanding Common
Stock immediately after exercise. However, upon at least 61 days’ prior notice from the Holder to the Company, a Holder with
a 4.99% beneficial ownership blocker may increase the amount of ownership of outstanding Common Stock after exercising the Holder’s
New Warrant up to 9.99% of the number of the Company’s Common Stock outstanding immediately after giving effect to the exercise,
as such percentage ownership is determined in accordance with the terms of the New Warrant.
Before deducting placement agent fees and expenses, the Company
received approximately $2,200,000 from the transactions pursuant to the Exercise Agreements. The Company expects to use the net
proceeds of these transactions for general corporate and working capital purposes.
The Company agreed to prepare and file with the Commission this
registration statement relating to the resale of the New Warrant Shares as soon as practicable (and in any event within 20 calendar
days from the date of the Exercise Agreements), and to use best efforts to cause such registration statement to be declared effective
by the Commission within certain time periods specified in the Exercise Agreements and subject to certain liquidated damages and
interest if the time periods specified in the Exercise Agreements are not satisfied.
Pursuant to an Engagement Letter (the “Engagement Letter”)
with H.C. Wainwright & Co., LLC (the “Placement Agent”), the Company agreed to pay the Placement Agent a cash fee
equal to 7.5% of the gross proceeds received from the Exercise and the sale of the New Warrants as well as a management fee equal
to 1.0% of the gross proceeds from the Exercise and the sale of the New Warrants. The Company also agreed to reimburse the Placement
Agent for its expenses in connection with the Exercise, up to $40,000, and agreed to pay the Placement Agent for non-accountable
expenses in the amount of $25,000. The Engagement Letter contains indemnification, representations, warranties and other provisions
customary for transactions of this nature. Also pursuant to the Engagement Letter, the Company agreed to issue the Placement Agent
or its designees warrants with the same terms as the New Warrants except for an exercise price equal to 125% of the exercise price
per share of the New Warrants.
Recent Developments
On July 8, 2020, On July 8, 2020, Andrew P. Reding resigned from
the Board of Directors of the Company, effective immediately. Effective July 9, 2020, the Board elected Chuck Nuzum, Nancy Chung-Welch,
Ph.D., and Gregory S. St.Clair to the Board. They were chosen to fill the vacancies created by the resignations of Pam Prior, Gerald
J. Vardzel, Jr. and Andrew P. Reding, respectively. Mr. Nuzum was also chosen to chair the Board’s Audit Committee. As a
Class I director, his term will expire at the 2022 annual meeting of the Company’s stockholders, while Dr. Chung-Welch’s
and Mr. St.Clair’s terms will expire at the 2020 annual meeting of the Company’s stockholders (as with the other Class
II directors).
Risk Factors
Our business is subject to numerous risks. For a discussion of the risks you
should consider before purchasing shares of our common stock, see “Risk Factors” on page 9 of this prospectus.
The Offering
This prospectus relates to the proposed resale or other
disposition from time to time of up to 1,396,826 shares of Predictive Oncology Inc. (“Predictive”) common stock, $0.01
par value per share, that may be issued upon exercise of warrants held by the Selling Stockholders identified in this prospectus.
See “Selling Stockholders” and “Plan of Distribution.”
The Selling Stockholders may offer to sell the shares
being offered in this prospectus at fixed prices, at prevailing market prices at the time of sale, at varying prices or at negotiated
prices. Our common stock is listed on the Nasdaq Capital Market under the symbol “POAI.”
We have agreed to register the offer and sale of the
common stock to satisfy registration rights we have granted to the Selling Stockholders. We will not receive any of the proceeds
from the sale of shares of our common stock in this offering. The Selling Stockholders will receive all of the proceeds from this
offering. We will, however, receive the proceeds of any cash exercises of the warrants.
RISK FACTORS
An investment in our securities involves a number of risks. Before
deciding to invest in our securities, you should carefully consider the risks described below and discussed under the sections
captioned “Risk Factors” contained in our Annual Report on Form 10-K for the year ended December 31, 2019 and our Quarterly
Report on Form 10-Q for the period ended March 31, 2020, which reports are incorporated by reference in this prospectus, the information
and documents incorporated by reference herein, and in any prospectus supplement or free writing prospectus that we have authorized
for use in connection with an offering. If any of these risks actually occurs, our business, financial condition, results of operations
or cash flow could be harmed. This could cause the trading price of our common stock to decline, resulting in a loss of all or
part of your investment. The risks described in the documents referenced above are not the only ones that we face. Additional risks
not presently known to us or that we currently deem immaterial may also affect our business.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Some of the statements made in this prospectus are “forward-looking
statements” that indicate certain risks and uncertainties related to the Company, many of which are beyond the Company’s
control. The Company’s actual results could differ materially and adversely from those anticipated in such forward-looking
statements as a result of certain factors, including those set forth below and elsewhere in this report. Important factors that
may cause actual results to differ from projections include:
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We may not be able to continue operating without additional financing;
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Current negative operating cash flows;
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The terms of any further financing, which may be highly dilutive and may include onerous terms;
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Risks related to the 2019 merger with Helomics including; 1) significant goodwill could result in further impairment; 2) possible failure to realize anticipated benefits of the merger; 3) costs associated with the merger may be higher than expected; 4) the merger may result in the disruption of our existing businesses; and 5) distraction of management and diversion of resources;
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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;
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Risks related to the transaction with Quantitative Medicine including: 1) possible failure to realize anticipated benefits of the transaction; 2) costs associated with the transaction may be higher than expected; 3) the transaction may result in the disruption of our existing businesses; and 4) distraction of management and diversion of resources;
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Risk that we will be unable to protect our intellectual property or claims that we are infringing on others’ intellectual property;
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The impact of competition;
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Acquisition and maintenance of any necessary regulatory clearances applicable to applications of our technology;
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Inability to attract or retain qualified senior management personnel, including sales and marketing personnel;
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Risk that we never become profitable if our product is not accepted by potential customers;
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Possible impact of government regulation and scrutiny;
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Unexpected costs and operating deficits, and lower than expected sales and revenues, if any;
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Adverse results of any legal proceedings
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The volatility of our operating results and financial condition;
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Management of growth;
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Material and adverse effects of the COVID-19 pandemic, including impact on a significant supplier; a reduction in on-site staff at several of our facilities, resulting in delayed production and less efficiency; impact on sales efforts; impact on accounts receivable and terms demanded by suppliers; and possible impact on financing transactions; and
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Other specific risks that may be detailed from time to time in the Company’s reports filed with the SEC.
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In some cases, you can identify forward-looking statements by terms
such as “may”, “will”, “should”, “could”, “would”, “expects”,
“plans”, “anticipates”, “believes”, “estimates”, “projects”, “predicts”,
“potential” and similar expressions intended to identify forward-looking statements. These statements reflect our current
views with respect to future events and are based on assumptions and subject to risks and uncertainties. Given these uncertainties,
you should not place undue reliance on these forward-looking statements. Also, these forward-looking statements represent our estimates
and assumptions only as of the date of the document containing the applicable statement.
You should read this prospectus, the documents we have filed with
the SEC that are incorporated by reference and any free writing prospectus that we have authorized for use in connection with this
offering completely and with the understanding that our actual future results may be materially different from what we expect.
We qualify all of the forward-looking statements in the foregoing documents by these cautionary statements.
Information regarding market and industry statistics contained in
this prospectus is included based on information available to the Company that it believes is accurate. It is generally based on
academic and other publications that are not produced for purposes of securities offerings or economic analysis. The Company has
not reviewed or included data from all sources, and the Company cannot assure potential investors of the accuracy or completeness
of the data included in this prospectus. Forecasts and other forward-looking information obtained from these sources are subject
to the same qualifications and the additional uncertainties accompanying any estimates of future market size, revenue and market
acceptance of products and services. The Company has no obligation to update forward-looking information to reflect actual results
or changes in assumptions or other factors that could affect those statements.
USE OF PROCEEDS
We will not receive any proceeds from the sale of the shares of
our common stock by the Selling Stockholders. However, we will receive proceeds from the exercise, if any, of the Warrants issued
to the Selling Stockholders pursuant to the Securities Purchase Agreement. We will use these proceeds for general corporate and
working capital purposes, or for other purposes that our board of directors, in its good faith, deems to be in the best interest
of our Company. We have agreed to bear the expenses relating to the registration of the offer and resale by the Selling Stockholders
of the shares being offered hereby.
DESCRIPTION OF CAPITAL STOCK
The following description summarizes the material terms of our capital
stock. This summary is, however, subject to the provisions of our certificate of incorporation and bylaws. For greater detail about
our capital stock, please refer to our certificate of incorporation and bylaws.
General
Our authorized capital stock consists of 100,000,000 shares of Common
Stock, and 20,000,000 shares of preferred stock, $0.01 par value per share (“Preferred Stock”). Out of the Preferred
Stock, as of July 7, 2020, 2,300,000 shares have been designated Series B Convertible Preferred Stock, of which 79,246 shares were
outstanding.
The outstanding shares of our Common Stock and Preferred Stock are
fully paid and nonassessable.
The Series B Convertible Preferred Stock is convertible into Common
Stock at the option of its holders on a 1:1 basis, subject to a 4.99% beneficial ownership blocker.
Our Board of Directors is authorized, subject to any limitations
prescribed by law, to provide for the issuance of the shares of Preferred Stock in series and, by filing a certificate pursuant
to the applicable law of the State of Delaware, to establish from time to time the number of shares to be included in each such
series, and to fix the designation, powers, preferences and rights of the shares of each such series and any qualifications, limitations
or restrictions thereon. The number of authorized shares of Preferred Stock may be increased or decreased (but not below the number
of shares thereof then outstanding) by the affirmative vote of the holders of a majority of the outstanding shares of Common Stock
without a vote of the holders of the Preferred Stock, or of any series thereof, unless a vote of any such holders is required pursuant
to the certificate or certificates establishing the series of Preferred Stock.
Common Stock
As of July 7, 2020, we had 13,200,787 shares of common stock outstanding
held by approximately 165 stockholders of record.
Voting Rights. The holders of our Common Stock are entitled
to one vote for each outstanding share of Common Stock owned by that shareholder on every matter properly submitted to the shareholders
for their vote. Shareholders are not entitled to vote cumulatively for the election of directors.
Dividend Rights. Subject to the dividend rights of the holders
of any outstanding series of preferred stock, holders of our Common Stock are entitled to receive ratably such dividends and other
distributions of cash or any other right or property as may be declared by our Board of Directors out of our assets or funds legally
available for such dividends or distributions.
Liquidation Rights. In the event of any voluntary or involuntary
liquidation, dissolution or winding up of our affairs, holders of our Common Stock would be entitled to share ratably in our assets
that are legally available for distribution to shareholders after payment of liabilities and after the satisfaction of any liquidation
preference owed to the holders of any Preferred Stock.
Conversion, Redemption and Preemptive Rights. Holders of our Common
Stock have no conversion, redemption, preemptive, subscription or similar rights.
Anti-Takeover Provisions
Bylaws. Certain provisions of our Bylaws could have anti-takeover
effects. These provisions are intended to enhance the likelihood of continuity and stability in the composition of our corporate
policies formulated by our Board of Directors. In addition, these provisions also are intended to ensure that our Board of Directors
will have sufficient time to act in what our Board of Directors believes to be in the best interests of our Company and our shareholders.
Nevertheless, these provisions could delay or frustrate the removal of incumbent directors or the assumption of control of us by
the holder of a large block of Common Stock, and could also discourage or make more difficult a merger, tender offer, or proxy
contest, even if such event would be favorable to the interest of our shareholders. These provisions are summarized below.
Advance Notice Provisions for Raising Business or Nominating
Directors. Sections 2.09 and 2.10 of our Bylaws contain advance-notice provisions relating to the ability of shareholders to
raise business at a shareholder meeting and make nominations for directors to serve on our Board of Directors. These advance-notice
provisions generally require shareholders to raise business within a specified period of time prior to a meeting in order for the
business to be properly brought before the meeting.
Number of Directors and Vacancies. Our Bylaws provide that
the exact number of directors shall be determined from time to time solely by resolution adopted by the affirmative vote of a majority
of the entire Board of Directors. The Board of Directors is divided into three classes, as nearly equal in number as possible,
designated: Class I, Class II and Class III (each, a “Class”). In the case of any increase or decrease, from
time to time, in the number of directors, the number of directors in each class shall be apportioned as nearly equal as possible.
Except as otherwise provided in the Certificate of Incorporation, each director serves for a term ending on the date of the third
annual meeting of the Company’s stockholders following the annual meeting at which such director was elected; provided, that
the term of each director shall continue until the election and qualification of a successor and be subject to such director’s
earlier death, resignation or removal. Vacancies on the Board of Directors resulting from death, resignation, removal or otherwise
and newly created directorships resulting from any increase in the number of directors may be filled solely by a majority of the
directors then in office (although less than a quorum) or by the sole remaining director.
Delaware Law. We are subject to Section 203 of the Delaware
General Corporation Law. This provision generally prohibits a Delaware corporation from engaging in any business combination with
any interested stockholder for a period of three years following the date the stockholder became an interested stockholder, unless:
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prior to such date, the board of directors approved either the business combination or the transaction that resulted in the stockholder becoming an interested stockholder;
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upon consummation of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the number of shares outstanding those shares owned by persons who are directors and also officers and by employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or
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on or subsequent to such date, the business combination is approved by the board of directors and authorized at an annual meeting or special meeting of stockholders and not by written consent, by the affirmative vote of at least 66 2/3% of the outstanding voting stock that is not owned by the interested stockholder.
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Section 203 defines a business combination
to include:
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any merger or consolidation involving the corporation and the interested stockholder;
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any sale, transfer, pledge or other disposition of 10% or more of the assets of the corporation involving the interested stockholder;
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subject to certain exceptions, any transaction that results in the issuance or transfer by the corporation of any stock of the corporation to the interested stockholder;
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any transaction involving the corporation that has the effect of increasing the proportionate share of the stock of any class or series of the corporation beneficially owned by the interested stockholder; or
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the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits provided by or through the corporation.
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In general, Section 203 defines an “interested stockholder”
as any entity or person beneficially owning 15% or more of the outstanding voting stock of a corporation, or an affiliate or associate
of the corporation and was the owner of 15% or more of the outstanding voting stock of a corporation at any time within three years
prior to the time of determination of interested stockholder status; and any entity or person affiliated with or controlling or
controlled by such entity or person.
These statutory provisions could delay or frustrate the removal
of incumbent directors or a change in control of our company. They could also discourage, impede, or prevent a merger, tender offer,
or proxy contest, even if such event would be favorable to the interests of stockholders. In addition, note that while Delaware
law permits companies to opt out of its business combination statute, our Certificate of Incorporation does not include this opt-out
provision.
Transfer Agent and Registrar
The transfer agent and registrar for our common stock is Corporate Stock Transfer, Inc.
Listing
The shares of our common stock are listed on The Nasdaq Capital Market under the symbol
“POAI.” On July 7, 2020, the last reported sale price per share for our common stock as reported by The Nasdaq Capital
Market was $1.56.
SELLING STOCKHOLDERS
This prospectus covers the resale by the Selling Stockholders or
its permitted transferees of up to 1,396,826 shares that have been or may be issued by us to the Selling Stockholders under the
arrangements and agreements described in “Prospectus Summary – Description of the Private Placements.” The Selling
Stockholders have not had any position or office, or other material relationship with us or any of our affiliates over the past
three years. The following table sets forth certain information regarding the beneficial ownership of shares of common stock by
the Selling Stockholders as of July 7, 2020 and the number of shares of our common stock being offered pursuant to this prospectus.
The table below (i) lists the Selling Stockholders and other information
regarding the beneficial ownership of our common stock by the Selling stockholder; (ii) have been prepared based upon information
furnished to us by the selling stockholder; and (iii) to our knowledge, is accurate as of the date of this prospectus. The Selling
Stockholders may sell all, some or none of their shares in this offering. The Selling Stockholders identified in the table below
may have sold, transferred or otherwise disposed of some or all of its shares since the date of this prospectus in transactions
exempt from or not subject to the registration requirements of the Securities Act. Information concerning the Selling Stockholders
may change from time to time and, if necessary, we will amend or supplement this prospectus accordingly and as required.
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Shares beneficially
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Number of shares to be
beneficially
owned and percentage of
beneficial
ownership after
the offering(1)(2)
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Name of selling
stockholder
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owned as of the date
of this prospectus(1)
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Number of shares
being offered
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Number of
shares
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Percentage of
class (3)
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Armistice Capital Master Fund
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2,584,317
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(4)
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698,413
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1,885,904
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4.99
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%
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Sabby Volatility Warrant Master Fund, Ltd.
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2,420,681
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(5)
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698,413
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1,722,268
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4.99
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%
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(1)
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Beneficial ownership is determined in accordance with SEC rules and generally includes voting or investment power with respect to shares of common stock. Shares of common stock subject to options and warrants currently exercisable, or exercisable within 60 days, are counted as outstanding for computing the percentage of the person holding such options or warrants but are not counted as outstanding for computing the percentage of any other person. Substantially all of the warrants and convertible securities included in the table are subject to restrictions that prevent exercise to the extent that after the exercise the holder or its affiliates would beneficially own in excess of 4.99% of the Company’s outstanding stock.
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(2)
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The amount and percentage of shares of our common stock that will be beneficially owned by the Selling Stockholders after completion of the offering assume that they will sell all shares of our common stock being offered pursuant to this prospectus.
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(3)
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Based on 13,200,787 shares of our common stock issued and outstanding as of July 7, 2020. All shares of our common stock being offered pursuant to this prospectus by a Selling Stockholder are counted as outstanding for computing the percentage beneficial ownership of such Selling Stockholder.
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(4)
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Includes 2,584,317 shares issuable upon exercise of warrants held by Armistice Capital Master Fund Ltd. (“Armistice”). Such warrants are subject to restrictions that prevent exercise to the extent that after the exercise the holder or its affiliates would beneficially own in excess of 4.99% of the Company’s outstanding stock. Armistice Capital, LLC, the investment manager of Armistice, and Steven Boyd, the managing member of Armistice Capital, LLC, hold shared voting and dispositive power over the shares held by Armistice. Each of Armistice Capital, LLC and Steven Boyd disclaims beneficial ownership of the securities listed except to the extent of their pecuniary interest therein.
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(5)
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Includes 301,540 shares owned directly by Sabby Volatility Warrant Master Fund Ltd. (“Sabby”) and 2,119,141 shares issuable upon exercise of warrants. Such warrants are subject to restrictions that prevent exercise to the extent that after the exercise the holder or its affiliates would beneficially own in excess of 4.99% of the Company’s outstanding stock. Sabby Management, LLC serves as the investment manager of Sabby Volatility Warrant Master Fund, Ltd. (“SVWMF”). Hal Mintz is the manager of Sabby Management, LLC and has voting and investment control of the securities held by SVWMF. Each of Sabby Management, LLC and Hal Mintz disclaims beneficial ownership over the securities beneficially owned by SVWMF except to the extent of their respective pecuniary interest therein.
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PLAN OF DISTRIBUTION
The Selling Stockholders or their permitted transferees may, from time to time, sell
any or all of shares of our common stock covered hereby on the Nasdaq stock market, or any other stock exchange, market or trading
facility on which the shares are traded or in private transactions. The Selling Stockholders may sell all or a portion of the shares
being offered pursuant to this prospectus at fixed prices, at prevailing market prices at the time of sale, at varying prices or
at negotiated prices. The Selling Stockholders may use any one or more of the following methods when selling securities:
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on any national securities exchange or quotation service on which the securities may be listed or quoted at the time of sale;
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in the over-the-counter market;
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in transactions otherwise than on these exchanges or systems or in the over-the-counter market;
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through the writing or settlement of options, whether such options are listed on an options exchange or otherwise;
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ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers;
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block trades in which the broker-dealer will attempt to sell the shares as agent but may position and resell a portion of the block as principal to facilitate the transaction;
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purchases by a broker-dealer as principal and resale by the broker-dealer for its account;
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an exchange distribution in accordance with the rules of the applicable exchange;
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privately negotiated transactions.
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The Selling Stockholders may also sell securities under Rule 144 under the Securities
Act, if available, rather than under this prospectus.
Broker-dealers engaged by the Selling Stockholders may arrange for other brokers-dealers
to participate in sales. Broker-dealers may receive commissions or discounts from the Selling Stockholders (or, if any broker-dealer
acts as agent for the purchaser of securities, from the purchaser) in amounts to be negotiated, provided such amounts are in compliance
with FINRA Rule 2121. Discounts, concessions, commissions and similar selling expenses, if any, that can be attributed to the sale
of common stock will be paid by the Selling Stockholders and/or the purchasers.
The Selling Stockholders may be deemed to be underwriters within the meaning of the Securities
Act and any broker-dealers or agents that are involved in selling the shares may be deemed to be “underwriters” within
the meaning of the Securities Act in connection with such sales. In such event, any commissions received by such broker-dealers
or agents and any profit on the resale of the shares purchased by them may be deemed to be underwriting commissions or discounts
under the Securities Act. Because the Selling Stockholders may be deemed to be underwriters within the meaning of the Securities
Act, they may be subject to the prospectus delivery requirements of the Securities Act.
Under applicable rules and regulations under the Exchange Act, any person engaged in
the distribution of the resale of securities may not simultaneously engage in market making activities with respect to the common
stock for the applicable restricted period, as defined in Regulation M, prior to the commencement of the distribution. In addition,
the Selling Stockholders will be subject to applicable provisions of the Exchange Act and the rules and regulations thereunder,
including Regulation M, which may limit the timing of purchases and sales of securities of the common stock by the Selling Stockholders
or any other person. We will make copies of this prospectus available to the selling security holders and have informed them of
the need to deliver a copy of this prospectus to each purchaser at or prior to the time of the sale.
LEGAL MATTERS
The validity of any securities offered from time to time by this prospectus and any related
prospectus supplement will be passed upon by Maslon LLP, Minneapolis, Minnesota.
EXPERTS
The financial statements incorporated in this prospectus by reference
from the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 have been audited by Deloitte & Touche
LLP, an independent registered public accounting firm, as stated in their report, which is incorporated herein by reference (which
report expresses an unqualified opinion and includes an explanatory paragraph relating to the substantial doubt about the Company’s
ability to continue as a going concern as described in Note 1 to the financial statements). Such financial statements have been
so incorporated in reliance upon the report of such firm given upon their authority as experts in accounting and auditing.
The financial statements of Helomics Holding Corporation for the
fiscal year ended December 31, 2018, as restated, incorporated by reference in this prospectus have been so incorporated in reliance
on the report of Schneider Downs & Co., Inc., certified public accountants registered with the Public Company Accounting Oversight
Board, as auditor for Helomics Holding Corporation prior to the acquisition by the Company.
WHERE YOU CAN FIND MORE INFORMATION
We file annual, quarterly and current reports, proxy statements
and other information with the SEC. We have filed with the SEC a registration statement on Form S-3 under the Securities Act with
respect to the securities we are offering under this prospectus. This prospectus does not contain all of the information set forth
in the registration statement and the exhibits to the registration statement. For further information with respect to us and the
securities we are offering under this prospectus, we refer you to the registration statement and the exhibits and schedules filed
as a part of the registration statement. Reports filed with the SEC pursuant to the Exchange Act, including proxy statements, annual
and quarterly reports, and other reports filed by the Company can be inspected and copied at the public reference facilities maintained
by the SEC at the Headquarters Office, 100 F Street N.E., Room 1580, Washington, D.C. 20549. The reader may obtain information
on the operation of the public reference room by calling the SEC at 1-800-SEC-0330. The reader can request copies of these documents
upon payment of a duplicating fee by writing to the SEC. Our filings are also available on the SEC’s internet site at http://www.sec.gov.
and the Company’s website at www.predictive-oncology.com. Information on any Company website, any subsection, page, or other
subdivision of any Company website, or any website linked to by content on any Company website, is not part of this prospectus
and you should not rely on that information unless that information is also in this prospectus or incorporated by reference in
this prospectus.
INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
The SEC allows us to “incorporate by reference” information
into this prospectus, which means that we can disclose important information to you by referring you to another document filed
separately with the SEC. The documents incorporated by reference into this prospectus contain important information that you should
read about us. The following documents are incorporated by reference into this prospectus:
We are allowed to incorporate by reference information contained
in documents that we file with the SEC. This means that we can disclose important information to you by referring you to those
documents and that the information in this prospectus is not complete and you should read the information incorporated by reference
for more detail. We incorporate by reference in two ways. First, we list certain documents that we have already filed with the
SEC. The information in these documents is considered part of this prospectus. Second, the information in documents that we file
in the future will update and supersede the current information in, and incorporated by reference in, this prospectus.
We incorporate by reference the documents listed below and any future
filings we will make with the SEC under Section 13(a), 13(c), 14 or 15(d) of the Exchange Act (other than information furnished
in Current Reports on Form 8-K filed under Item 2.02 or 7.01 of such form unless such form expressly provides to the contrary):
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Our Annual Report on Form 10-K for the fiscal year ended December 31, 2019;
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Our Quarterly Report on Form 10-Q for the quarter ended March 31, 2020, as amended on June 11, 2020;
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Current Reports on Form 8-K filed July 13, 2020, July 7, 2020, June 26, 2020, June 19, 2020, June 12, 2020, June 8, 2020, June 2, 2020, 2 reports filed on May 8, 2020, May 1, 2020, April 30, 2020, April 24, 2020, April 22, 2020, April 1, 2020, March 23, 2020, March 16, 2020, February 21, 2020, February 7, 2020, February 4, 2020, January 28, 2020, January 24, 2020, January 6, 2020; and April 10, 2019, as amended by amendment no. 1 on June 18, 2019 and amendment no. 2 on September 26, 2019;
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The description of the Company’s common stock filed as Exhibit 4.29 “Description of Registrant’s Securities” to the Company’s Annual Report on Form 10-K on April 1, 2020.
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We will provide to each person, including any beneficial owner,
to whom a prospectus is delivered, a copy of any or all of the information that has been incorporated by reference in this prospectus
but not delivered with this prospectus. You may request a copy of this information at no cost, by writing or telephoning us at
the following address or telephone number:
Predictive Oncology Inc.
Attention: Corporate Secretary
2915 Commers Drive, Suite 900
Eagan, Minnesota 55121
(651) 389-4800
PREDICTIVE ONCOLOGY INC.
1,396,826 Shares
Common Stock
PROSPECTUS
July 21, 2020
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