- Predictive Oncology CEO Carl Schwartz featured on NNW’s podcast to discuss the company’s prospects
- Schwartz elaborated on company’s various divisions, affirming that POAI had begun to see revenue trends stabilize, cash burn rates decline
- TumorGenesis received overwhelmingly positive feedback on its initial product launches, with plans to extend its technological prowess to address other oncological segments
- Soluble Biotech, which announced its first major contract in August, is expected to reveal news of second order win in near future
- Schwartz touched upon POAI’s Helomics business, stating his belief that division could soon transition towards monetizing its unique and one-of-a-kind asset portfolio
Predictive Oncology (NASDAQ: POAI) CEO Carl Schwartz was recently featured in an exclusive audio interview with NetworkNewsWire (“NNW”), a financial news and content distribution company, to provide an update on the company’s recent milestones and near-term goals following the October release of his open letter to Predictive Oncology’s shareholders (https://ibn.fm/XLY14). During the wide-ranging conversation, Schwartz sought to update listeners on the company’s subsidiaries – Skyline Medical, TumorGenesis, Soluble Biotech and Helomics (https://ibn.fm/Vqkh5).
Schwartz commenced by outlining the status of the company’s Skyline Medical business, charged with overseeing the manufacture and sale of their proprietary STREAMWAY system – designed to provide medical facilities with a direct-to-drain fluid disposal system. The CEO revealed that although the company had sought to reduce emphasis on its legacy division, the company had sold 18 STREAMWAY units thus far in 2020 with the expectation of selling between 5-7 more over the course of the year.
Moreover, he explained that the business was throwing off an estimated $700 thousand in annual free cash-flows—a figure which has proven to be more than sufficient to cover the unit’s operating expenses.
Schwartz went on to elaborate on the TumorGenesis business, which specializes in the field of ovarian cancer, creating laboratory-grown cancer cells which can then be used to assist researchers and clinicians identify which cancer cells bind to specific biomarkers. He revealed that the company had received overwhelmingly positive feedback in regards to the division’s initial product launch and stated that the company would seek to extend its technological prowess towards addressing oncological segments such as lung cancer in the future.
The interview later transitioned to POAI’s most recent acquisition, Soluble Biotech, which seeks to provide optimized FDA-approved formulations for vaccines, antibodies and other protein therapeutics in a faster and lower cost basis to its customers. In August 2020, the company announced its first contract with a major pharmaceutical company for protein expression and solubility studies, and Schwartz stated that a second significant contract would be announced in the near future. Going forward, the CEO expressed his optimism on further contract wins as well as the award of certain grants, which had been applied for by the division.
Schwartz also touched upon Predictive Oncology’s outlook for the fourth quarter – placing particular emphasis on the prospects of the company’s Helomics business. Through its Helomics division, the company leverages its unique, clinically validated patient derived (“PDx”) smart tumor profiling platform to provide oncologists with a roadmap to help individualize therapy. In addition, the company is leveraging artificial intelligence and its proprietary database of over 150,000 cancer case tumors to build AI-driven models of tumor drug response with the hope of improving outcomes for the patients of today and tomorrow. With the wealth of knowledge and experience gleaned over its operational lifespan, Schwartz affirmed his belief that Helomics was well on its way towards monetizing its exceptional and one-of-a-kind asset portfolio and validating the ambitions that POAI had harbored for the division upon its purchase a little over two years ago.
For more information, visit the company’s website at www.Predictive-Oncology.com.
NOTE TO INVESTORS: The latest news and updates relating to POAI are available in the company’s newsroom at http://ibn.fm/POAI
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