PITTSBURGH - Predictive Oncology Inc. (NASDAQ: NASDAQ:POAI), an AI-driven drug discovery and biologics company, has announced the filing of intellectual property protection for a novel technology aimed at producing functional G-Protein Coupled Receptors (GPCRs). This technology is expected to facilitate the development of new therapeutics targeting GPCRs, which play a crucial role in cancer and represent a significant portion of the global therapeutic drugs market.
GPCRs are a large family of cell surface receptors implicated in various physiological processes and diseases, including cancer. Despite their importance, only a fraction of these receptors have been characterized and targeted by current drugs. Predictive Oncology's new expression platform could potentially unlock new opportunities for drug discovery by enabling the stable and functional expression of GPCRs.
Dr. Larry DeLucas, SVP of Biologics at Predictive Oncology, expressed optimism about the potential of the technology to foster partnerships within the pharmaceutical industry. The company plans to integrate this GPCR expression system with its existing High-Throughput Self-Interaction Chromatography (HSC™) technology to maintain purified GPCRs in a stable form, addressing challenges faced with current expression methods.
The U.S. market for GPCR-targeting drugs was valued at nearly $3.5 billion in 2022 and is projected to grow annually by more than 5% through 2030. Predictive Oncology aims to launch this technology later in 2024 or early 2025, positioning itself within this lucrative market.
Predictive Oncology is recognized for its application of artificial intelligence in drug discovery, particularly with its AI platform, PEDAL, which boasts a 92% accuracy rate in predicting tumor response to drug compounds. The company's extensive biobank and its capabilities in early drug discovery and development are complemented by its own CLIA lab and GMP facilities.
This announcement 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. A noteworthy development is the launch of its advanced 3D cell culture model aimed at enhancing cancer drug discovery, which could potentially streamline the drug development process.
In collaboration with UPMC Magee-Womens Hospital, Predictive Oncology conducted a study suggesting AI and machine learning capabilities may improve survival outcome predictions for ovarian cancer patients. The study developed machine learning models that showed high accuracy for two-year and five-year survival outcomes. This research, combined with Predictive Oncology's PEDAL AI platform and its 92% accuracy rate in predicting tumor response to drugs, underscores the company's commitment to AI-driven drug discovery.
In addition to these research advancements, Predictive Oncology has formed strategic partnerships with major institutions and companies such as Fujifilm, FluGen, Cvergenx, Merck & Company, OCMS, and Redwire Space.
InvestingPro Insights
Predictive Oncology Inc. (NASDAQ: POAI) has recently filed for intellectual property protection for its GPCR technology, a move that could enhance its position within the growing market for GPCR-targeting drugs. Here are some insights based on InvestingPro data and tips that shed light on the company's current financial health and market performance:
InvestingPro Data:
- Market Cap (Adjusted): 5.05M USD, reflecting the company's current valuation in the market.
- Revenue Growth (Quarterly) for Q1 2024: An impressive 74.93%, indicating a significant increase in revenue compared to the same quarter in the previous year.
- The company's Price, Previous Close was 1.23 USD, which is 17.28% of its 52-week high, suggesting a notable decline in stock price over the past year.
InvestingPro Tips:
- Predictive Oncology holds more cash than debt on its balance sheet, which is a positive sign of financial stability.
- Analysts expect sales growth in the current year, aligning with the company's ambitious plans to capitalize on the GPCR drug market.
These financial metrics and InvestingPro Tips highlight both opportunities and challenges for Predictive Oncology. While the company is experiencing robust revenue growth and has a solid cash position, the stock price has significantly retreated from its yearly high. Investors interested in the biotech sector may find these insights valuable when considering the potential of Predictive Oncology's innovative technology and its future prospects in the market.
For a deeper analysis and more InvestingPro Tips related to Predictive Oncology, visit https://www.investing.com/pro/POAI. There are additional tips available on the platform, which can be accessed with an exclusive offer: use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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