Predictive Oncology (NASDAQ: POAI), a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, is reporting its numbers for second quarter 2022, or the period ended June 30, 2022. According to the announcement, the report indicates a strong balance sheet with a solid cash balance, commensurate equity and no debt. Highlights from the quarter include the commercialization launch of PeDAL, POAI’s innovative AI product, along with the company’s presence at BIO International, which included one-on-one partnering meetings with pharmaceutical and biotech companies; the appointment of Julia Kirshner, PhD, as chief scientific officer; the consolidation and expansion of POAI’s research and development team with TumorGenesis moving to Pittsburg; and a 12% increase of cash and equivalents from $25 million on March 31, 2022, to $28 million at quarter end. Other financial numbers for the quarter include net sales revenue of $0.4 million for the quarter, an increase of 6% from the same three-month period in 2021; gross profit margin for the company growing from 59% in Q2 2021 to 64% for Q2 2022; net cash used in operating activities totaling $6.4 million for the six months ended June 30, 2022; and general and administrative expenses totaling $2.4 million, up from $2.1 million in the quarter ended June 30, 2021. In addition, POAI’s quarterly sales and marketing expenses increased to $0.3 million for the quarter, up by $0.1 million from the same quarter in 2021. The company also announced a shareholder earnings webcast to be held Friday, Aug. 12, 2022, at 12 p.m. ET.
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About Predictive Oncology Inc.
Predictive Oncology is a knowledge-driven company, applying artificial intelligence to develop personalized cancer therapies that improve patient outcomes. The company, which offers a suite of solutions for oncology drug development, operates through four segments (Skyline, Helomics, zPREDICTA and Soluble), which covers five subsidiaries: Helomics, zPREDICTA, Soluble Biotech, TumorGenesis and Skyline Medical. Helomics Holding Corporation is involved in applying artificial intelligence (“AI”) in the company’s precision medicine business, to offer AI-driven predictive models of tumor drug response to enhance clinical results for patients and to aid diagnostic, biotech and pharmaceutical companies in new personalized diagnostic and drug development. Skyline Medical Inc. sells the STREAMWAY System(R), a fully automated wall-mounted product that is utilized to dispose of an unlimited quantity of suction fluid in an operating room setting. It offers continuous performance for medical practitioners by effectively eradicating the healthcare professional’s exposure to potentially infectious liquids gathered during surgical and other medical operations. Soluble Biotech Inc. is involved in research and commercialization focused on protein production, stability studies and solubility improvements. zPREDICTA Inc. does tumor-specific research using in vitro models for oncology and drug development. TumorGenesis serves as the company’s arm for research and development for zPREDICTA, Soluble and Helomics. This subsidiary is also involved in cellular media kit production, which aids cancer cells to grow outside the body of patients while preserving their proteomic and RNA/DNA signatures. 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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