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NEWS
Predictive Oncology Reports Third Quarter 2024 Financial Results and Provides Strategic Update
Q3 2024 and Recent Highlights:
• Announced the results of an additional study that successfully demonstrated the long-term stability and viability of the more than 150,000 cryopreserved patient tumor samples stored within the Company's proprietary biobank.
◦ The samples stored in the biobank had originally been tested and cryopreserved between 2008 and 2016.
◦ The samples continue to produce drug response data that is consistent with their original clinical testing results.
◦ 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%.
◦ Predictive Oncology released a new white paper that discusses this study, and the importance of tumor sample viability, which can be found here.
• Entered the $51.5 billion biomarker discovery market following compelling results from retrospective ovarian cancer study with UPMC Magee-Womens Hospital:
◦ Predictive Oncology published a white paper on the biomarker discovery opportunity, which can be found here.
• Implemented a cost savings initiative intended to further streamline Predictive Oncology's operations, extend its cash runway, and support its new focus on novel biomarker discovery. The initiative reduced the Company's run rate for cash used in operating activities by approximately 20% on an annualized basis.
• Raised additional funding of $1.3 million in July through a warrant inducement transactio
• Announced the results of an additional study that successfully demonstrated the long-term stability and viability of the more than 150,000 cryopreserved patient tumor samples stored within the Company's proprietary biobank.
◦ The samples stored in the biobank had originally been tested and cryopreserved between 2008 and 2016.
◦ The samples continue to produce drug response data that is consistent with their original clinical testing results.
◦ 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%.
◦ Predictive Oncology released a new white paper that discusses this study, and the importance of tumor sample viability, which can be found here.
• Entered the $51.5 billion biomarker discovery market following compelling results from retrospective ovarian cancer study with UPMC Magee-Womens Hospital:
◦ Predictive Oncology published a white paper on the biomarker discovery opportunity, which can be found here.
• Implemented a cost savings initiative intended to further streamline Predictive Oncology's operations, extend its cash runway, and support its new focus on novel biomarker discovery. The initiative reduced the Company's run rate for cash used in operating activities by approximately 20% on an annualized basis.
• Raised additional funding of $1.3 million in July through a warrant inducement transactio
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