NetworkNewsBreaks – Predictive Oncology (NASDAQ:
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Posted On: 02/17/2021 3:19:51 PM
NetworkNewsBreaks – Predictive Oncology (NASDAQ: POAI) Closes on $7.4M Registered Direct Offering, Announces Breakthrough Discoveries
Predictive Oncology (NASDAQ: POAI), a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, announced that it had closed on its previously announced registered direct offering. The offering, comprised of 4,222,288 shares of POAI common stock sold at $1.75 per share, totaled $7.4 million in gross proceeds for the company, before expenses were deducted. The shares were priced at-the-market under Nasdaq rules. The announcement also noted that the company issued a concurrent private placement to the same investors; that placement comprised of unregistered warrants up 2,111,144 shares of common stock, priced at $2 per share. In a second announcement, Predictive Oncology noted that, using TumorGenesis technology, two top researchers have identified breakthrough discoveries in understanding how ovarian cancer cells migrate outside the abdominal cavity, or omentum. TumorGenesis is a wholly owned subsidiary of Predictive Oncology. Conducted by a top-tier laboratory in Massachusetts, the research relied on TumorGenesis media to capture, culture and identify how cells break through the protective lining in the abdomen. The study findings could result in the development of drugs that target against that receptor site of the abdominal lining to effectively bloc the metastasis of re-occurring ovarian cancer. “Both targets of the research aided by TumorGenesis’s technology, blocking the omentum penetration and blocking the enzyme that accelerates a response to PARP treatment, once developed and approved, represent several billion dollars in future revenues for biotech or pharma companies,” said Predictive Oncology CEO Dr. Carl Schwartz in the press release. “Three currently available PARP inhibitors, each becoming resistant to ovarian cancer over time, generate $2.8 billion in revenue for such companies. That is why TumorGenesis is expanding its product lines, offering services, and helping pharma, biotech, and researchers around the world to unravel cancer’s mysteries.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Predictive Oncology (NASDAQ: POAI), a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, announced that it had closed on its previously announced registered direct offering. The offering, comprised of 4,222,288 shares of POAI common stock sold at $1.75 per share, totaled $7.4 million in gross proceeds for the company, before expenses were deducted. The shares were priced at-the-market under Nasdaq rules. The announcement also noted that the company issued a concurrent private placement to the same investors; that placement comprised of unregistered warrants up 2,111,144 shares of common stock, priced at $2 per share. In a second announcement, Predictive Oncology noted that, using TumorGenesis technology, two top researchers have identified breakthrough discoveries in understanding how ovarian cancer cells migrate outside the abdominal cavity, or omentum. TumorGenesis is a wholly owned subsidiary of Predictive Oncology. Conducted by a top-tier laboratory in Massachusetts, the research relied on TumorGenesis media to capture, culture and identify how cells break through the protective lining in the abdomen. The study findings could result in the development of drugs that target against that receptor site of the abdominal lining to effectively bloc the metastasis of re-occurring ovarian cancer. “Both targets of the research aided by TumorGenesis’s technology, blocking the omentum penetration and blocking the enzyme that accelerates a response to PARP treatment, once developed and approved, represent several billion dollars in future revenues for biotech or pharma companies,” said Predictive Oncology CEO Dr. Carl Schwartz in the press release. “Three currently available PARP inhibitors, each becoming resistant to ovarian cancer over time, generate $2.8 billion in revenue for such companies. That is why TumorGenesis is expanding its product lines, offering services, and helping pharma, biotech, and researchers around the world to unravel cancer’s mysteries.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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