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Predictive Oncology Inc (POAI) (Q1 2024) Earnings Call Transcript Highlights: Navigating ...

GuruFocus Research
·4-min read

  • Cash and Cash Equivalents: $5.2 million as of Q1 2024, down from $8.7 million as of end of 2023.

  • Stockholders' Equity: $4.0 million as of Q1 2024, down from $8.3 million as of end of 2023.

  • Net Loss Per Share: $1.4 per basic and diluted share for Q1 2024, compared to $0.86 for Q1 2023.

  • Revenue: $420,000 for Q1 2024, up from $240,000 for Q1 2023.

  • EGAN Segment Revenue: $404,000 for Q1 2024, up from $216,000 for Q1 2023.

  • General and Administrative Expenses: Increased by $291,000 to $2.6 million in Q1 2024.

  • Operating Expenses: Increased by $224,000 to $1.1 million in Q1 2024.

  • Sales and Marketing Expenses: Increased by $369,000 to $714,000 in Q1 2024.

  • Net Cash Used in Operating Activities: $3.4 million in Q1 2024, consistent with Q1 2023.

  • Accumulated Deficit: $172 million as of Q1 2024, up from $168 million as of end of 2023.

Release Date: May 15, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

  • Predictive Oncology Inc successfully completed a groundbreaking study with UPMC Magee-Women's Hospital, leveraging AI to predict survival outcomes in ovarian cancer patients.

  • An abstract from the study was accepted for presentation at the prestigious American Society of Clinical Oncology annual meeting, highlighting the study's significance.

  • The company announced a collaboration with Fujifilm to co-market their endo prep sample treatment technology, enhancing drug safety in biopharmaceutical products.

  • Predictive Oncology is making progress with FluGen in developing an innovative intranasal flu vaccine, supported by a $6.2 million grant from the U.S. Department of Defense.

  • The company has expanded its collaborations, including with Cvergenx for developing genomics-based precision radiation therapy and drug discovery using AI.

Negative Points

  • Predictive Oncology Inc reported a decrease in cash and cash equivalents from $8.7 million as of December 31, 2023, to $5.2 million as of March 31, 2024.

  • The company's net loss per share increased from $0.86 in Q1 2023 to $1.4 in Q1 2024, indicating a growing loss.

  • General and administrative expenses rose by $291,000 due to increased professional and business tax fees.

  • Operating expenses increased by $224,000 primarily due to higher employee compensation related to research and development.

  • Sales and marketing expenses nearly doubled, driven by severance related to a former executive.

Q & A Highlights

Q: Can you provide an update on the groundbreaking study with UPMC Magee-Women's Hospital? A: Raymond Vennare, CEO: We completed a retrospective multiyear study to leverage AI in building multi-omics machine learning models for predicting survival outcomes in ovarian cancer patients. The study included extensive data from 235 patients and resulted in highly accurate predictive models. These models will be presented at the ASCO meeting.

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Q: What are the implications of the study results for Predictive Oncology? A: Raymond Vennare, CEO: The successful results validate our predictive capabilities and serve as a proof of concept for further development. This opens opportunities for digital pathology applications, efficient clinical trial designs, and direct involvement in drug discovery.

Q: Can you discuss the collaboration with Fujifilm and its significance? A: Raymond Vennare, CEO: We partnered with Fujifilm to co-market our EndoPrep technology with their PYROSTAR reagents, enhancing bacterial endotoxin detection in biopharmaceuticals. This collaboration aims to improve drug safety and demonstrates the versatility of our technology.

Q: What progress has been made with FluGen in developing a flu vaccine? A: Raymond Vennare, CEO: We're aiding FluGen in developing an intranasal flu vaccine, funded by a $6.2 million grant from the U.S. Department of Defense. Our technology is crucial in optimizing the vaccine formulation for stability and extended shelf-life, which is vital for global distribution.

Q: Could you provide financial highlights from the first quarter of 2024? A: Josh Blacher, CFO: We ended the quarter with $5.2 million in cash. Our revenue was $420,000, up from $240,000 in the previous year. We experienced increases in general and administrative expenses and sales and marketing expenses, reflecting our expanded operations and development efforts.

Q: Are there any updates on the collaboration with Cvergenx? A: Raymond Vennare, CEO: We've made significant progress in developing a genomics-based approach for precision radiation therapy. We've evaluated numerous drug exposures to predict changes in radiation sensitivity, which could lead to novel treatments and optimized patient care in radiation therapy.

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

This article first appeared on GuruFocus.