NetworkNewsBreaks – Predictive Oncology Inc. (NA
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Posted On: 04/01/2024 4:36:54 PM
NetworkNewsBreaks – Predictive Oncology Inc. (NASDAQ: POAI) Releases Year-End 2023 Financial Report, Business Update
Predictive Oncology (NASDAQ: POAI), a science-driven company leveraging its proprietary artificial-intelligence (“AI”) and machine-learning capabilities, extensive biorepository of tumor samples, CLIA laboratory and GMP facility to accelerate oncologic drug discovery and enable drug development, is reporting on its financial and operating results for the year ended Dec. 31, 2023; the company also released a corporate update. The report noted POAI experienced a net loss of some $14 million on total revenue of approximately $1.8 million for the year; the company also reported a 50% reduction in basic and diluted net loss per common share for the full year 2023. In addition, highlights of the report included progress with its FluGen collaboration, which is designed to bring a first-of-its-kind intranasal flu vaccine to market; continued engagement with Cancer Research Horizons (“CRH”); and the completion of an AI-driven, multiyear study of ovarian cancer with UPMC Magee-Womens Hospital in Pittsburgh. “While it has been just a little over 12 months since we implemented our new strategic vision for the company, I am extremely pleased with the progress we have made to date introducing our unique blend of assets and capabilities to leading oncologic drug developers globally, while in parallel continuing to incorporate learnings from this first year to further refine our business development efforts,” said Predictive Oncology CEI and chair Raymond F. Vennare in the press release. “By leveraging our PEDAL AI and machine-learning capabilities, vast biobank of tumor samples, repository of decades of drug-response data and CLIA wet lab, we are able to introduce patient and tumor heterogeneity into the earliest phases of preclinical development, enabling drug developers to gain insight into the future, increasing the likelihood of commercial success. . . . We remain in the very early stages of the biopharma industry embracing AI to increase the speed and accuracy of drug discovery, and I believe we are ideally positioned to be a leader in this rapidly evolving sector.”
To view the full press release, visit https://nnw.fm/Mm6Ek
Please see full terms of use and 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 science-driven company leveraging its proprietary artificial-intelligence (“AI”) and machine-learning capabilities, extensive biorepository of tumor samples, CLIA laboratory and GMP facility to accelerate oncologic drug discovery and enable drug development, is reporting on its financial and operating results for the year ended Dec. 31, 2023; the company also released a corporate update. The report noted POAI experienced a net loss of some $14 million on total revenue of approximately $1.8 million for the year; the company also reported a 50% reduction in basic and diluted net loss per common share for the full year 2023. In addition, highlights of the report included progress with its FluGen collaboration, which is designed to bring a first-of-its-kind intranasal flu vaccine to market; continued engagement with Cancer Research Horizons (“CRH”); and the completion of an AI-driven, multiyear study of ovarian cancer with UPMC Magee-Womens Hospital in Pittsburgh. “While it has been just a little over 12 months since we implemented our new strategic vision for the company, I am extremely pleased with the progress we have made to date introducing our unique blend of assets and capabilities to leading oncologic drug developers globally, while in parallel continuing to incorporate learnings from this first year to further refine our business development efforts,” said Predictive Oncology CEI and chair Raymond F. Vennare in the press release. “By leveraging our PEDAL AI and machine-learning capabilities, vast biobank of tumor samples, repository of decades of drug-response data and CLIA wet lab, we are able to introduce patient and tumor heterogeneity into the earliest phases of preclinical development, enabling drug developers to gain insight into the future, increasing the likelihood of commercial success. . . . We remain in the very early stages of the biopharma industry embracing AI to increase the speed and accuracy of drug discovery, and I believe we are ideally positioned to be a leader in this rapidly evolving sector.”
To view the full press release, visit https://nnw.fm/Mm6Ek
Please see full terms of use and 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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