Predictive Oncology (NASDAQ:POAI), a knowledge-driven company
focused on applying artificial intelligence (“AI”) to personalized
medicine and drug discovery, is pleased to release the CEO’s letter
to the shareholders.
To our valued shareholders,
I know you have watched our stock price decline steadily over
the past few weeks. I am writing to assure you that there is a lot
of encouraging progress to report – in other words, our company is
not in the condition that the stock price might indicate. I
want to take this opportunity to review where Predictive Oncology
stands as of today.
Our cash burn is stable and trending downward. Our revenues
are stable and trending upward. Our available cash is adequate for
operations and we have the ability to utilize our equity
line of credit, which has a remaining amount of over $10
million.
The best news is in the operational progress in our various
divisions. Starting with Skyline Medical, this division is
self-supporting from a cash standpoint. Sales of disposables used
on previously sold machines more than cover the operating
expenses of this division, and we continue to sell new
machines on a regular basis, adding to future disposables
revenues.
Our Helomics division is coming along handsomely. We have
launched a restructured clinical test offering to clinicians for
ovarian cancer. The response from oncologists to this re-configured
test has been excellent and we expect this effort, as well as our
other tests, to be revenue generating by year end and should be
able to cover the bulk of Helomics operating expenses going
forward. We have made solid progress on the UPMC-Magee Women’s
Hospital project and are close to completing our AI-driven models
of drug response and patient outcomes. We are also finishing the
sequencing of the tumors from the patients involved and have
completed the “reach back” for patient outcome data (i.e. including
data on what happened to the patient). The Magee Study
validates our ability to sequence our tumor inventory as well as to
do the reach back for patient outcomes. The acquisition and
integration of the newly acquired Quantitative Medicine AI software
into Helomics’ existing computer model is a major accomplishment.
We have begun discussions with large Pharma companies in an
effort to form major, multi-year, multi-target, milestone based
strategic partnerships. We hope to make more announcements
soon.
Our TumorGenesis division has not been resting on its’ laurels.
We will be introducing our Ovarian Cell Line Media at the
BIO-Europe Conference. This media will allow researchers to isolate
and successfully culture ovarian cancer cells that have previously
not been cultured. Under the NCI Prevent Cancer Program,
TumorGenesis, Cornell Medical and Helomics will coordinate with and
seek funding for this program to help identify the best culture
media for the studying of mutations that increase the risk of
ovarian and breast cancers as well as other types of cancers.
TumorGenesis is registering with the U.S. government as a
contractor for developmental work in cancer cell capture and
screening of compounds for the prevention and treatment of cancer.
TumorGenesis Discovery Kits will also launch at the BIO-Europe
conference. These kits will allow researchers to study and tag
target cancer cells as well as normal cells often associated with
tumors and let pathologists screen approved drug therapies across
isolated and properly identified ovarian cancer samples from
patients.
Last, but certainly not least, is Soluble Biotech. We have moved
this division into a new Research Park located in Birmingham,
Alabama. This new facility effectively quadruples our Soluble’s
office and research space. This state of the art company provides
optimized FDA-approved formulations for vaccines, antibodies and
other protein therapeutics in a faster and lower cost basis to
its customers. In addition, the company recently purchased and
installed a suite of new research equipment that enables protein
degradation studies which is a new and substantial line of business
for the company. Our investment in new equipment, combined with our
proprietary existing equipment, expands the company’s capabilities
to include temperature-controlled humidity chamber analysis,
temperature-controlled photo-stability analysis, differential
scanning calorimetry, viscometry analysis, UV/Vis spectroscopy
analysis, High Performance Liquid Chromatography (HPLC), a
state-of-the-art automated dynamic laser light scattering system
(DLS), free flow particle microscopic analysis, circular dichroism
analysis, electron microscopy and high resolution mass
spectrometry. Soluble Biotech is also planning to begin the
development of an FDA-approved GMP facility to further support
pharmaceutical needs. We have already secured a sizable contract
and we are bidding on several more. I expect Soluble Biotech to
be generating revenues by the end of the year.
As you can see, a lot is happening. Much is occurring under the
radar. Much doesn’t make for a press release. However, don’t be
discouraged by the lack of “blockbuster” announcements. We are
moving forward rapidly and we expect the fourth quarter to be
eventful. I will make myself available to shareholders who may wish
to speak with me.
Sincerely,
Carl Schwartz CEO Predictive Oncology.
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 Soluble Biotech. 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. TumorGenesis, Inc. a wholly
owned subsidiary specializes in media’s that help cancer cells grow
and retain their DNA/RNA and proteomic signatures providing
researchers with a tool to expand and study cancer cell types found
in tumors of the blood and organ systems of all mammals, including
humans. In addition, TumorGenesis is developing a ‘biomarker
discovery’ kit and service for life science, pharmaceutical and
biotech companies, and research institutions. Its products are sold
on-line as well as through a global distributor; US
Biologicals Corporation: http://www.usbio.net. 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. Soluble Biotech is a provider of
soluble and stable formulations for proteins including vaccines,
antibodies, large and small proteins and protein complexes. The
company’s services enhance the drug development process by rapidly
optimizing protein solubility and stability. Soluble Biotech brings
transformational technology to formulation development for
protein-based pharmaceutical and vaccines. In addition, our
solubilization & stability technology supports fundamental
protein research at academic, pharmaceutical and government
laboratories. To learn more, please
visit: https://solublebiotech.com.
Cautionary Statement Regarding Forward-Looking
Statements
Certain matters discussed in this release
contain forward-looking statements. These forward-looking
statements reflect our current expectations and projections about
future events and are subject to substantial risks, uncertainties
and assumptions about our operations and the investments we make.
All statements, other than statements of historical facts, included
in this press release regarding our strategy, future operations,
future financial position, future revenue and financial
performance, projected costs, prospects, plans and objectives of
management are forward-looking statements. The words “anticipate,”
“believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “would,”
“target” and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words. Our actual future
performance may materially differ from that contemplated by the
forward-looking statements as a result of a variety of factors
including, among other things, factors discussed under the heading
“Risk Factors” in our filings with the SEC. Except as expressly
required by law, the Company disclaims any intent or obligation to
update these forward-looking statements.
Investor Relations Contact:
Hayden IRJames Carbonara
(646)-755-7412james@haydenir.com
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