Predictive Oncology (NASDAQ: POAI), a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, is reporting corporate updates and financial results for its Q3 quarter, ended Sept. 30, 2022. According to the announcement, the report reflects revenue growth and increased gross profit margin as compared to prior year periods. Highlights of the report include notice that a new CEO and chair, Raymond F. Vennare, was named, along with other key team member appointments; the company also continues to attract potential partners with its breakthrough solution that enables pharmaceutical and biotech companies to advance drug development and accelerate time to market. The report noted that POAI is leveraging its novel platform technology by pairing with the largest privately held biobank of more than 150,000 tumor samples to help drug developers make higher confidence predictions that ultimately lead to greater chances of commercial success. The company also noted that its GMP lab is available to help clients move from preclinical drug development to the investigational new drug qualification. Financial numbers worth noting include revenue of $455,827, which is a 45% increase from $313,663 reported in the same period in 2021; Helomics reported an improvement in its net losses; and the company’s gross profit grew 76% compared to 65% in the comparable 2021 period. R&D costs came in at $116,763 for the quarter, down from $234,357 in the quarter ended Sept. 30, 2021, with general and administrative expenses totaling $3,287,918.
To view the full press release, visit https://ibn.fm/YOFiy
About Predictive Oncology Inc.
Predictive Oncology is a science-driven company focused on applying artificial intelligence (AI) to develop optimal cancer therapies, which can lead to more effective treatments and improved patient outcomes. Through AI, Predictive Oncology uses a biobank of 150,000-plus cancer tumors, categorized by patient type, against drug compounds to help the drug-discovery process and increase the probability of success. The company offers a suite of solutions for oncology drug development from early discovery to clinical trials. For more information about the company, please visit www.Predictive-Oncology.com.
NOTE TO INVESTORS: The latest news and updates relating to POAI are available in the company’s newsroom at http://ibn.fm/POAI
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