PITTSBURGH - Predictive Oncology Inc. (NASDAQ: NASDAQ:POAI) has announced an expansion of its AI and machine learning (ML) platform to include the discovery of novel oncology biomarkers, potentially revolutionizing how patient outcomes and drug responses are predicted in cancer treatment.
This initiative is partly based on positive results from a retrospective ovarian cancer study conducted with UPMC Magee-Womens Hospital, presented at the 2024 American Society of Clinical Oncology Annual Meeting.
The study showcased the development of multi-omic machine learning models that outperformed clinical data in predicting both short-term and long-term survival outcomes for ovarian cancer patients. Predictive Oncology aims to build on this by exploring biomarker discovery and development, which will be pursued both independently and in collaboration with biopharma companies.
Dr. Arlette H. Uihlein, SVP of Translational Medicine and Drug Discovery (NASDAQ:WBD) at Predictive Oncology, highlighted the company's success in using their active machine-learning platform to predict drug responses with high accuracy. The company is now applying deep learning to accelerate the initial stages of biomarker discovery, leveraging its extensive biobank of patient samples.
CEO Raymond Vennare emphasized the broader applicability of their technology, which goes beyond ovarian cancer and can aid in discovering biomarkers for various cancer types. He also noted the potential for the platform to support clinical trial enrollment and inform drug discovery and development.
The biomarker discovery market is estimated to be valued at $51.5 billion in 2024, according to third-party research. In line with this growth, Predictive Oncology has released a white paper detailing its biomarker discovery capabilities.
Predictive Oncology specializes in the use of AI and ML for early biomarker and drug discovery, aiming to enhance drug development for cancer patients globally. Its AI platform, PEDAL, predicts tumor sample responses to drug compounds with 92% accuracy. The company's extensive biobank and its own CLIA lab and GMP facilities further support its position in the industry.
This expansion represents a significant advancement for Predictive Oncology in the field of precision medicine, as it seeks to refine and accelerate the process of identifying effective treatment options for cancer patients.
The information for this article is based on a press release statement.
In other recent news, Predictive Oncology Inc. has made significant strides in both its financial standing and research advancements. The company reported increased revenues of $420,000 for Q1 2024, up from $240,000 in Q1 2023, despite a net loss of $4.2 million for the quarter. In terms of research, the company has filed for intellectual property protection for a novel GPCR technology, expected to facilitate the development of new therapeutics.
Furthermore, the company has also formed strategic partnerships with major institutions and companies such as Fujifilm, FluGen, Cvergenx, Merck & Company, OCMS, and Redwire Space.
These are recent developments that highlight Predictive Oncology's commitment to advancing medical research through AI and strategic collaborations.
InvestingPro Insights
As Predictive Oncology Inc. (NASDAQ: POAI) forges ahead with its innovative AI and ML initiatives in the oncology space, insights from InvestingPro provide a snapshot of the company's current financial health. With a market capitalization of $4.39 million USD, the company is positioned as a small-cap player in the biomarker discovery market. Despite a substantial revenue growth of 36.98% in the last twelve months as of Q1 2023, the company faces challenges as indicated by its negative P/E ratio of -0.3, reflecting its current unprofitability.
InvestingPro Tips highlight both the potential and the hurdles for the company. On one hand, the company holds more cash than debt, a positive sign of financial stability. On the other hand, the stock has experienced significant declines, with a 78.3% drop in its one-year price total return as of mid-2024. Moreover, analysts anticipate sales growth in the current year, which could be a harbinger of improved financial performance.
Investors considering Predictive Oncology as a potential addition to their portfolio can find additional analysis and insights on the company's stock performance and financial metrics on InvestingPro. With a total of 12 InvestingPro Tips available, including observations on shareholder yield and cash burn rates, interested parties can make more informed decisions. To gain full access to these valuable insights, use coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
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