Predictive Oncology’s Skyline Medical Sells 8 STREAMWAY® Systems to a Large University Hospital Organization in Virginia; ...
August 18 2020 - 8:30AM
Predictive Oncology (NASDAQ: POAI), a knowledge-driven company
focused on applying artificial intelligence (“AI”) to personalized
medicine and drug discovery, is excited to announce that its
Skyline Medical division, producer of the FDA-approved and
CE-marked STREAMWAY® System for automated, direct-to-drain medical
fluid disposal, has completed the sale of 8 STREAMWAY systems to a
large university hospital organization in Virginia for a new
surgical center. The hospital system already has 2 STREAMWAY
systems currently in use. The sale is expected to generate
approximately 4,000 procedures annually.
The company has now sold 13 STREAMWAY systems during Q3
2020.
About Predictive Oncology Inc.
Predictive Oncology (NASDAQ: POAI) operates through three
segments (Domestic, International and other), 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 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
Portions of the narrative set for this document that are not
statements of historical or current facts are forward-looking
statements, in particular, the commercial outlook provided above.
Our actual future performance may materially differ from that
contemplated by the forward-looking statements as a result of a
variety of factors.
These factors include, in addition to those mentioned elsewhere
herein:
- We may not be able to continue operating without additional
financing;
- Current negative operating cash flows;
- The terms of any further financing, which may be highly
dilutive and may include onerous terms;
- 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;
- 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;
- Risks related to the transaction with Quantitative Medicine
including: 1) possible failure to realize anticipated benefits of
the transaction; 2) costs associated with the acquisition 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;
- Risk that we will be unable to protect our intellectual
property or claims that we are infringing on others’ intellectual
property;
- The impact of competition;
- Acquisition and maintenance of any necessary regulatory
clearances applicable to applications of our technology;
- Inability to attract or retain qualified senior management
personnel, including sales and marketing personnel;
- Risk that we never become profitable if our product is not
accepted by potential customers;
- Possible impact of government regulation and scrutiny;
- Unexpected costs and operating deficits, and lower than
expected sales and revenues, if any;
- Adverse results of any legal proceedings;
- The volatility of our operating results and financial
condition;
- Management of growth;
- Material and adverse effects of the COVD-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,
- Other specific risks 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.
Investor Relations Contact:
Hayden IR James Carbonara (646)-755-7412
james@haydenir.com
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