Predictive Oncology (US:POAI) Globenewswireยท2025-05-15 11:00Core Viewpoint - Predictive Oncology reported a loss from continuing operations of approximately $2.3 million on total revenue of $110,310 for Q1 2025, highlighting the company's ongoing focus on leveraging AI and machine learning for drug discovery and development [1][9]. Q1 2025 and Recent Highlights - The company expanded its AI and machine learning platform to identify abandoned drugs with potential for new cancer indications, aiming to repurpose existing clinical candidates [3][5]. - The launch of the ChemoFx drug response assay in Europe and expanded availability in the U.S. is a significant step towards personalized cancer care, initially focusing on ovarian and gynecological cancers [3][5]. - The sale of Skyline Medical assets to DeRoyal Industries has allowed the company to concentrate on its core AI-driven capabilities while reducing cash usage [3][5]. - A partnership with Tecan Group Ltd. aims to enhance high-throughput drug screening using human tumor spheroids [5]. Q1 2025 Financial Summary - The company recorded revenue of $110,310 for Q1 2025, a significant increase from $4,858 in the same period in 2024, primarily due to the completion of a tumor-specific 3D model [9][11]. - General and administrative expenses decreased by $497,464 to $1,828,200, while research and development expenses decreased by $109,679 to $520,406 [9][12]. - The net cash used in operating activities decreased to $985,840 in Q1 2025 from $2,709,688 in Q1 2024, reflecting lower cash operating losses [9]. Financial Results - The company concluded Q1 2025 with $3.1 million in cash and cash equivalents, up from $611,822 as of December 31, 2024 [9][10]. - Basic and diluted loss per common share from continuing operations was $0.32, compared to $0.88 for the same quarter in 2024 [9][11]. - The total net loss for Q1 2025 was $2,442,873, a reduction from $4,218,843 in Q1 2024 [11].