NetworkNewsBreaks – Predictive Oncology (NASDAQ:
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Posted On: 03/16/2021 6:05:24 PM
NetworkNewsBreaks – Predictive Oncology (NASDAQ: POAI) Releases FY 2020 Financial Results, Business Highlights
Predictive Oncology (NASDAQ: POAI), a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, has reported business highlights and financial results for the year ended Dec. 31, 2020. Highlights discussed in the report include the company’s reinforced balance sheet with net debt and equity offerings for estimated net proceeds of $12,952,689; completion of an asset purchase agreement to acquire Soluble Therapeutics and its exclusive technology, as well as BioDtech Inc.; completion of the asset purchase of Quantitative Medicine (“QM”); and the signing of a contract with a pharmaceutical company for protein expression and solubility studies. Financial results for fiscal year 2020 were also released and included recorded revenue of $1,252,272 with a gross profit margin of 64%, a 2% increase over 2019. “We are pleased that this past year has resulted in so many significant milestones,” said Predictive Oncology chief financial officer Dr. Carl Schwartz in the press release. “This includes reinforcing our balance sheet through strategic equity offerings and various cost-saving measures, significant corporate acquisitions allowing the company to augment its revenue-producing business segments and bringing even more experience to our Board of Directors in the form of four key industry experts.”
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, has reported business highlights and financial results for the year ended Dec. 31, 2020. Highlights discussed in the report include the company’s reinforced balance sheet with net debt and equity offerings for estimated net proceeds of $12,952,689; completion of an asset purchase agreement to acquire Soluble Therapeutics and its exclusive technology, as well as BioDtech Inc.; completion of the asset purchase of Quantitative Medicine (“QM”); and the signing of a contract with a pharmaceutical company for protein expression and solubility studies. Financial results for fiscal year 2020 were also released and included recorded revenue of $1,252,272 with a gross profit margin of 64%, a 2% increase over 2019. “We are pleased that this past year has resulted in so many significant milestones,” said Predictive Oncology chief financial officer Dr. Carl Schwartz in the press release. “This includes reinforcing our balance sheet through strategic equity offerings and various cost-saving measures, significant corporate acquisitions allowing the company to augment its revenue-producing business segments and bringing even more experience to our Board of Directors in the form of four key industry experts.”
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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