Predictive Oncology Inc. completed a direct stock offering, raising approximately $545,004 for working capital and corporate purposes.
Quiver AI Summary
Predictive Oncology Inc. announced the completion of its registered direct offering, selling 363,336 shares of common stock at $1.50 per share, resulting in gross proceeds of approximately $545,004. H.C. Wainwright & Co. acted as the exclusive placement agent for this offering, with proceeds intended for working capital and general corporate purposes. The shares were offered under an effective registration statement with the SEC. Predictive Oncology utilizes an AI-driven platform to enhance drug discovery for cancer treatments, boasting a high accuracy rate in predicting tumor responses to drugs. The company is headquartered in Pittsburgh, PA.
Potential Positives
- Successfully closed a registered direct offering, raising approximately $545,004 for working capital and general corporate purposes.
- Utilized a "shelf" registration statement, demonstrating compliance with SEC regulations and enhancing investor confidence.
- Continues to leverage its AI-driven platform, PEDAL, which boasts a high accuracy rate of 92% in predicting drug responses, strengthening its position in the drug discovery market.
- Maintains a substantial biobank of over 150,000 tumor samples, providing a robust resource for academic and industry partners in drug development.
Potential Negatives
- The share price of $1.50 per share may indicate a lack of investor confidence, as it suggests a potentially undervalued stock compared to its historical performance.
- The reliance on a direct offering for working capital could signal financial instability or limited access to conventional financing options.
- The substantial placement agent fees and offering expenses may reduce net proceeds significantly, impacting the intended use of funds for working capital and corporate purposes.
FAQ
What recent financial move did Predictive Oncology announce?
Predictive Oncology closed a registered direct offering of 363,336 shares of common stock at $1.50 per share.
Who acted as the placement agent for the offering?
H.C. Wainwright & Co. served as the exclusive placement agent for the registered direct offering.
How will Predictive Oncology use the proceeds from the offering?
The Company intends to use the net proceeds for working capital and general corporate purposes.
What is the accuracy of Predictive Oncology's AI platform, PEDAL?
PEDAL can predict with 92% accuracy if a tumor will respond to specific drug compounds.
Where can investors access the final prospectus supplement?
Electronic copies of the final prospectus supplement are available on the SEC's website at http://www.sec.gov.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$POAI Hedge Fund Activity
We have seen 4 institutional investors add shares of $POAI stock to their portfolio, and 9 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- HRT FINANCIAL LP removed 31,923 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $25,155
- JANE STREET GROUP, LLC added 26,241 shares (+inf%) to their portfolio in Q4 2024, for an estimated $21,517
- RENAISSANCE TECHNOLOGIES LLC removed 24,676 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $19,444
- XTX TOPCO LTD added 19,965 shares (+inf%) to their portfolio in Q4 2024, for an estimated $16,371
- CSENGE ADVISORY GROUP added 17,000 shares (+130.8%) to their portfolio in Q4 2024, for an estimated $13,940
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 14,948 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $12,257
- CITADEL ADVISORS LLC removed 12,737 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $10,036
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
PITTSBURGH, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Predictive Oncology Inc. (NASDAQ: POAI) (“Predictive Oncology” or the “Company”), a leader in AI-driven drug discovery and biologics, today closed its previously announced registered direct offering for the purchase and sale of 363,336 shares of common stock at a purchase price of $1.50 per share priced at-the-market under Nasdaq rules.
H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
The gross proceeds to the Company from the offering were approximately $545,004 before deducting placement agent fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.
The common stock described above were offered by the Company pursuant to a “shelf” registration statement on Form S-3 (File No. 333- 279123) that was declared effective by the Securities and Exchange Commission (the “SEC”) on May 21, 2024. The offering of the shares of common stock was made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the registered direct offering was filed with the SEC on February 19, 2025. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained on the SEC’s website at
http://www.sec.gov
or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, New York 10022, by phone at (212) 856-5711 or e-mail at
placements@hcwco.com
.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
About Predictive Oncology
Predictive Oncology is on the cutting edge of the rapidly growing use of artificial intelligence and machine learning to expedite early drug discovery and enable drug development for the benefit of cancer patients worldwide. The Company’s scientifically validated AI platform, PEDAL, is able 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 laboratory facility. Predictive Oncology is headquartered in Pittsburgh, PA.
Investor Relations Contact:
Tim McCarthy
LifeSci Advisors, LLC
tim@lifesciadvisors.com
Forward-Looking Statements:
Certain matters discussed in this release contain forward-looking statements, including, without limitation, the anticipated use of proceeds from offering. 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.
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