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.”
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About Predictive Oncology Inc.
Predictive Oncology operates through three segments (domestic, international and other), which contain four subsidiaries; Helomics, TumorGenesis, Skyline Medical and Soluble Biotech. Helomics applies artificial intelligence to its rich data gathered from patient tumors to both personalize cancer therapies for patients and drive the development of new targeted therapies in collaborations with pharmaceutical companies. TumorGenesis Inc. specializes in media that help cancer cells grow and retain their DNA/RNA (“DNA/RNA”) and proteomic signatures, providing researchers with a tool to expand and study cancer cell types found in tumors of the blood and organ systems of all mammals, including humans. Skyline Medical markets its patented and FDA-cleared STREAMWAY System, which automates the collection, measurement and disposal of waste fluid, including blood and irrigation fluid, within a medical facility, through both domestic and international divisions. Soluble Biotech is a provider of soluble and stable formulations for proteins including vaccines, antibodies, large and small proteins and protein complexes. For more information about the company, please visit www.Predictive-Oncology.com.
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