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Predictive Oncology Reports Second Quarter 2025 Financial Results and Provides Corporate Update
Globenewswire· 2025-08-14 11:00
Core Viewpoint - Predictive Oncology reported a loss from continuing operations of approximately $2.0 million for Q2 2025, while focusing on advancing its AI-driven drug discovery and expanding its ChemoFx assay in the U.S. and Europe [1][3]. Financial Summary - The company concluded Q2 2025 with cash and cash equivalents of $506,078, down from $611,822 as of December 31, 2024 [4]. - Revenue for Q2 2025 was $2,682, a significant decrease from $67,255 in Q2 2024, primarily due to reduced sales of tumor-specific 3D models and kits [10]. - General and administrative expenses increased to $1,875,655 in Q2 2025 from $1,825,174 in Q2 2024, mainly due to higher legal fees [10]. - The company raised approximately $586,000 in gross proceeds during the quarter through private placements and its At-the-Market facility [6]. Operational Highlights - The company is preparing for an aggressive market expansion of its ChemoFx assay in the U.S. and a de novo launch in Europe, both expected in Q4 2025 [5]. - ChemoFx helps oncologists make better treatment decisions by testing multiple chemotherapies on patients' cancer cells before treatment selection [5]. - Predictive Oncology has developed two unique 3D liver toxicity models for Labcorp, which can evaluate drug metabolism and liver toxicity [5]. - The company identified three promising candidates for repurposing from abandoned drugs, specifically Afuresertib, Alisertib, and Entinosta, for colon and breast tumor indications [5]. Capital and Investment - A standby equity purchase agreement for up to $10 million was announced with YA II PN, LTD, managed by Yorkville Advisors Global, LP, providing a flexible source of capital for advancing initiatives [5].
Predictive Oncology Issues Shareholder Letter: Well Financed to Support Expanded U.S. Availability and E.U. Launch of ChemoFx® and Pursuit of Other High-Value AI-Driven Drug Discovery and Development Opportunities
Globenewswire· 2025-07-15 13:00
Core Insights - Predictive Oncology Inc. has announced a $10 million Securities Purchase Agreement to support its strategic growth initiatives, particularly the expansion of ChemoFx in the U.S. and its launch in Europe [1][13][14] - ChemoFx is a proprietary live-cell tumor profiling assay that provides personalized chemotherapy guidance by testing multiple chemotherapies on a patient's cancer cells [2][3] - The company has a biobank of over 150,000 tumor samples, which enhances its drug response data and supports recurring revenue opportunities [3][9] ChemoFx Expansion - The groundwork for expanding ChemoFx in the U.S. is underway, with discussions ongoing with potential channel partners and pharmaceutical manufacturers [3] - Future developments of ChemoFx are expected to extend beyond gynecological cancers to include breast, colon, and lung cancers [4] High-Throughput Screening Market - The high-throughput screening market is projected to reach $69.5 billion by 2032, with a compound annual growth rate (CAGR) of 12.18%, indicating a growing adoption of 3D cell cultures for more relevant screening models [6] AI-Driven Drug Discovery - The company is advancing its AI-driven drug discovery initiatives, which include biomarker discovery and drug repurposing, leveraging its extensive biobank [8][9] - Successful collaborations, such as with UPMC Magee-Womens Hospital, have led to the development of AI-powered models that predict survival outcomes in ovarian cancer patients [10][11] Drug Repurposing Initiatives - The company has identified three drug candidates for re-evaluation in ovarian and colon cancer through active machine learning, showcasing its potential in transitioning shelved drug candidates back into clinical development [12] Funding and Financial Strategy - The Securities Purchase Agreement with Yorkville Advisors provides an efficient and flexible funding source, allowing the company to opportunistically sell shares when market conditions are favorable [13][14] - The company views this agreement as a partnership that will support its vision and growth strategy [14] Company Overview - Predictive Oncology is at the forefront of using AI and machine learning to expedite drug discovery, with a platform that predicts tumor responses with 92% accuracy [16]
Renovaro Completes First Milestone Payment to Finalize Definitive Agreement with Predictive Oncology
Globenewswire· 2025-03-03 14:15
Core Insights - Renovaro Biosciences Inc. has initiated the first tranche of financing to Predictive Oncology, Inc. to integrate AI/ML platform technologies and core laboratory capabilities in Europe and the United States [1][3] - The merger with Predictive Oncology and BioSymetrics significantly enhances Renovaro's capabilities in biomarker and drug discovery, particularly in oncology [1][2] Company Developments - The combined entity will leverage Predictive's AI-driven drug discovery platform, which includes a biobank of over 150,000 patient tumor samples and 200,000 pathology slides, to commercialize drug discovery and diagnostic platforms [2][4] - Renovaro has committed an additional $15 million in equity to accelerate its focus on revolutionizing healthcare through advanced diagnostics and drug discovery [3] Strategic Goals - The integration aims to create a comprehensive AI stack and an end-to-end solution for biomarker discovery and validation for precision medicine [3] - The transaction involves issuing an 18-month $3 Redeemable Preferred share to each Predictive Oncology shareholder, with further developments to be disclosed upon Board approval [3] Industry Context - Predictive Oncology is at the forefront of using AI and machine learning for early biomarker and drug discovery, with a scientifically validated platform that predicts drug response with 92% accuracy [4] - The company offers one of the industry's broadest AI-based drug discovery solutions, supported by its CLIA lab and GMP facilities [4][5]