BioMedNewsBreaks – Predictive Oncology (NASDAQ: POAI) Shareholder Letter Provides Company Update, Status of Subsidiaries
Oct 6, 2020
Predictive Oncology (NASDAQ: POAI), a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, has released a shareholder letter providing a review of where POAI “stands as of today.” The letter noted that, despite a decline of stock price over the past few weeks, the company’s cash burn is stable and even trending down, and revenues are stable and trending upward. The letter notes that POAI has adequate cash for operation, as well as ability to utilize an equity line of credit of more than $10 million. The letter also provides an update on the company’s divisions: Skyline Medical, Helomics, TumorGenesis and Soluble Biotech. The letter notes that Skyline Medical is self-supporting from a cash standpoint. Helomics has launched a restructured clinical test offering to clinicians for ovarian cancer. TumorGenesis will be introducing its Ovarian Cell Line Media at the upcoming BIO-Europe Conference; the media allows researchers to isolate and successfully culture ovarian cancer cells that have previously not been cultured. Soluble Biotech has moved into a new facility that effectively quadruples its office and research space. “As you can see, a lot is happening,” said Predictive Oncology CEO Carl Schwartz in the letter. “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.”
To view the full press release, visit https://ibn.fm/lbJxa
About Predictive Oncology Inc.
Predictive Oncology 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 road map for therapy. In addition to its proprietary precision oncology platform, Helomics offers boutique CRO services that leverage its TruTumor(TM), 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 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, visit www.Predictive-Oncology.com.
NOTE TO INVESTORS: The latest news and updates relating to POAI are available in the company’s newsroom at http://ibn.fm/POAI
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