Predictive Oncology Inc. (POAI) shares surged 5.88% in after-hours on Wednesday, August 11, 2021, and closed the daily trading at $1.08. In the regular trading session of Wednesday, POAI’s stock lost 7.27%. The stock volume remained 4.0 million shares, which was higher than the average daily volume of 3.15 million shares within the past 50 days. POAI shares have fallen by 35.03% over the last 12 months, and they have moved down by 6.42% in the past week. Over the past three months, the stock has gained 15.94%, while over the past six months, it has declined 45.16%.
Let’s see what’s going on with the company in the recent past.
POAI latest financial results announcement
On August 11, 2021, Predictive Oncology (POAI) reported financial results for the quarter that ended June 30, 2021.
Q2 2021 financial highlights
- POAI reported revenue of $350,207 for Q2 2021, compared to $182,784 for the same quarter in 2020.
- The gross profit margin was approximately 59% in the three ended June 30, 2021, compared to 53% in Q2 2020.
- Total operating expenses were $2,598,227 in Q2 2021 compared to $3,768,425 in Q2 2020.
- It suffered net loss of $2,573,932 for Q2 2021 compared to $ 3,577,378 for Q2 2020.
- Loss per common basic and diluted share was $0.05 in Q2 2021 compared to $0.36 in Q2 2020.
POAI initial results on AI-driven models of ovarian cancer
On August 03, 2021, Predictive Oncology (POAI), reported initial results on AI-driven models of ovarian cancer. POAI subsidiary Helomics, working on data from the 100,000 Genomes Project in Genomics England’s National Genomic Research Library (NGRL), has developed a new AI-driven model that can predict survival rates for ovarian cancer patients, post-treatment. These AI models have the potential to improve treatment paths for ovarian cancer and drive the development of new therapies. The results of the study will be available as a preprint on Biorxiv in the late summer.
New GMP labs
On June 22, 2021, Predictive Oncology (POAI) announced that two of their wholly-owned subsidiaries, Soluble Biotech Inc. and TumorGenesis Inc. are both expanding their unique services by completing the fabrication and qualification of GMP facilities.
The Vice President of Operations at Predictive Oncology, Dr Larry DeLucas said that the addition of a GMP facility is expected to significantly increase our potential customer base and lead to multiple long-term collaborations.
Closing of Registered Direct Offering
On June 18, 2021, Predictive Oncology Inc. (POAI) completed the closing of its previously announced registered direct offering of 15,520,911 shares of its common stock and warrants to purchase up to an aggregate of 15,520,911 shares of its common stock at a purchase price of $1.375 per share of common stock and related warrant in a registered direct offering priced at-the-market under Nasdaq rules.
Conclusion
POAI stock went up after the company announced its improved financial results and it can further surge in the coming days as well.
