Predictive Oncology Confirms Long-Term Stability of Proprietary Biobank Samples

Predictive Oncology confirms biobank sample stability By Investing.com

PITTSBURGH - Predictive Oncology Inc. (NASDAQ: NASDAQ:POAI), a company specializing in AI-driven drug discovery, has announced the results of a study confirming the long-term stability of its biobank's cryopreserved patient tumor samples. The study showcases the reproducibility of drug response data from samples stored for up to 16 years, which is vital for predicting patient outcomes and personalizing therapies. The company's biobank contains over 150,000 tumor specimens and 200,000 pathology slides, along with two decades of drug and tumor response data. This extensive collection of samples and data is instrumental in aiding drug developers to better understand patient heterogeneity and to validate targets and biomarkers well ahead of human clinical trials. Dr. Arlette Uihlein, SVP of Translational Medicine and Drug Discovery (NASDAQ:WBD) at Predictive Oncology, expressed satisfaction with the study's outcome, which demonstrated a 100% concordance rate between the original fresh patient sample testing and the cryogenically stored material. This result underlines the reliability of the data collected over many years and the utility of the biobank. Raymond Vennare, CEO of Predictive Oncology, highlighted the company's unique position in building models that can accurately predict patient outcomes. He emphasized the value of the biobank not only to the company but also to its partners in drug development. The global biospecimen market, valued at $4.4 billion in 2023, is expected to see significant growth, with projections reaching $11.7 billion by 2031. Predictive Oncology's recent study and its AI/ML platform, which boasts a 92% accuracy rate in predicting tumor sample responses to drug compounds, positions the company to capitalize on this expanding market. Alongside the study results, Predictive Oncology has released a white paper detailing the importance of tumor sample viability. This document serves as an additional resource for those interested in the technical aspects of the study. The company, with its headquarters in Pittsburgh, PA, continues to advance in the field of biomarker and drug discovery, leveraging its proprietary technology and extensive biobank to support the development of cancer treatments. This article is based on a press release statement from Predictive Oncology Inc. In other recent news, Predictive Oncology has reported its Q2 2024 financial results, revealing a decrease in revenue to $279,000 from $490,000 in the same quarter of the previous year. However, the company's net loss per share has been reduced to $0.68 from $0.98. The firm has completed a significant ovarian cancer study with UPMC Magee-Womens Hospital and launched a 3D cell culture technology. Predictive Oncology has underscored its commitment to advancing biomarker discovery and developing next-generation therapies in oncology. The company's recent initiatives include the expansion of artificial intelligence and machine learning capabilities for biomarker discovery, as well as cost reduction measures such as consolidating operations in Pittsburgh. Despite a decline in revenue, the company has successfully raised $5 million in capital and has managed to decrease its net cash usage to $6.6 million for the six months ended June 30, 2024. While the company continues to operate at a loss, with an accumulated deficit of $175 million, the reduction in net loss per share indicates improved financial performance. As Predictive Oncology Inc. (NASDAQ: POAI) solidifies its standing in the biobanking and drug discovery industry with its recent study, financial metrics from InvestingPro offer a snapshot of the company's market position. With a market capitalization of $6 million, the company is navigating the competitive landscape of the biospecimen market. Despite the potential for growth in the sector, analysts anticipate a sales decline for the current year, which could be a factor for potential investors to consider. InvestingPro data reveals that Predictive Oncology holds a Price to Book ratio of 1.47 as of the last twelve months ending Q2 2024, which can offer insights into the company's valuation relative to its net asset value. Moreover, the company's revenue growth has seen a notable increase of 12.85% during the same period, highlighting its ability to generate income amidst challenging market conditions. However, it's important to note that the company's Operating Income Margin stands at -805.63%, reflecting the expenses outweighing the operating income. Among the InvestingPro Tips, two notable points stand out for Predictive Oncology. Firstly, the company holds more cash than debt on its balance sheet, which is a positive sign of financial health and could provide some stability in its operational endeavors. Secondly, and contrasting this positive aspect, the company is quickly burning through cash, which raises questions about its long-term financial sustainability and could be a concern for investors. For those interested in a deeper analysis, InvestingPro offers additional tips on Predictive Oncology, including insights on valuation, stock performance, and profitability. There are 12 more InvestingPro Tips available, which can be accessed at the dedicated InvestingPro page for Predictive Oncology (https://www.investing.com/pro/POAI).

Predictive Oncology Study Demonstrates Long-Term Stability and Viability of Proprietary Biobank of Primary Tumor Specimens for Pharmaceutical Drug Discovery - Predictive Oncology (NASDAQ:POAI)

Study further validates highly reproducible drug response data. Enables AI platform to model and predict patient outcomes on historical samples Global biospecimen market valued at $4.4 billion in 2023, expected to grow at an annual CAGR of more than 13%, reaching $11.7 billion by 20311 PITTSBURGH, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Predictive Oncology Inc. POAI, a leader in AI-driven drug discovery, today announced the results of a successful study that demonstrates the long-term stability and viability of the more than 150,000 cryopreserved patient tumor samples stored within the Company's proprietary biobank. Importantly, with more than 20 years of longitudinal patient and drug response data, the study demonstrated that the samples stored in the biobank continue to produce drug response data that is consistent with their original clinical testing results. This is critical for predicting outcomes, most notably overall survival (OS), for guiding personalized therapies, target validation, and in silico modeling of drug-tumor responses. To successfully demonstrate the reproducibility of drug response results for these biobank samples, a comparative study was executed using previously generated drug responses across a subset of patient ovarian tumor samples maintained in the Company's biobank. These samples had originally been tested and cryopreserved between 2008 and 2016. Concordance of drug response results between the original fresh patient sample testing and long-term cryogenically stored tumor material from the same patient was 100%. "We are extremely pleased with the results of this study, which demonstrates that even after an extended period of time - some as long as 16 years - the samples cryopreserved in our biobank remain viable and able to deliver the same drug response data as when originally tested," said Dr. Arlette Uihlein, SVP of Translational Medicine and Drug Discovery at Predictive Oncology. "This not only validates the utility of our biobank, but also the strength and reliability of the drug response data that we compiled over those many years. We are uniquely positioned to enable drug developers to query patient responses to their drug candidates, accounting for real-world patient heterogeneity, and to validate targets and biomarkers long before human clinical trials commence." "Our biobank of more than 150,000 tumor specimens, 200,000 pathology slides, and 20 years of actionable drug and tumor response data represent key assets that are unique to Predictive Oncology," stated Raymond Vennare, Chief Executive Officer of Predictive Oncology. "With these capabilities, we can build models capable of accurately predicting patient outcomes, allowing us to play a key role in guiding personalized therapies, and discovering novel biomarkers. The results of this study demonstrate the long-term viability of these tumor samples, underscoring its value not only to Predictive Oncology, but our drug developer partners as well." Predictive Oncology also announced today the release of a new white paper that discusses this study, and the importance of tumor sample viability, in greater detail. The white paper can be accessed at: https://predictive-oncology.com/blog/reproducible/ About Predictive Oncology Predictive Oncology is on the cutting edge of the rapidly growing use of artificial intelligence and machine learning to expedite early biomarker and drug discovery and enable drug development for the benefit of cancer patients worldwide. The company's proprietary AI/ML platform has been scientifically validated to predict with 92% accuracy if a tumor sample will respond to a certain drug compound, allowing for a more informed selection of drug/tumor type combinations for subsequent in-vitro testing. Together with the company's vast biobank of more than 150,000 assay-capable heterogenous human tumor samples, Predictive Oncology offers its academic and industry partners one of the industry's broadest AI-based drug discovery solutions, further complimented by its wholly owned CLIA lab and GMP facilities. Predictive Oncology is headquartered in Pittsburgh, PA. Investor Relations Contact Tim McCarthy LifeSci Advisors, LLC [email protected] Forward-Looking Statements: Certain matters discussed in this release contain forward-looking statements. These forward-looking statements reflect our current expectations and projections about future events and are subject to substantial risks, uncertainties and assumptions about our operations and the investments we make. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, future financial position, future revenue and financial performance, projected costs, prospects, changes in management, plans and objectives of management are forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "would," "target" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Our actual future performance may materially differ from that contemplated by the forward-looking statements as a result of a variety of factors including, among other things, factors discussed under the heading "Risk Factors" in our filings with the SEC. Except as expressly required by law, the company disclaims any intent or obligation to update these forward-looking statements. ___________________________________ 1 https://www.biospace.com/biospecimen-contract-research-services-market-worth-usd-11-70-billion-to-2031 Market News and Data brought to you by Benzinga APIs