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Predictive Oncology Inc. (POAI-6.49%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a net loss of $12,664,388 for the year, compared to a net loss of $13,983,967 in the previous year. Revenue for 2024 was $1,623,817, slightly down from $1,627,697 in 2023.
Operating expenses decreased to $11,737,150 from $13,136,221 in 2023, largely due to reductions in general and administrative expenses and operations expenses.
The company has incurred significant and recurring losses from operations and has an accumulated deficit of $180,426,271 as of December 31, 2024, raising substantial doubt about its ability to continue as a going concern.
Predictive Oncology entered into a binding letter of intent with Renovaro, Inc. on January 1, 2025, for a merger in exchange for preferred stock of Renovaro. The merger is subject to a minimum fundraising of $15 million by Renovaro and formal approval by Predictive Oncology shareholders.
In March 2025, the company sold assets related to its STREAMWAY product line to DeRoyal Industries, Inc. for $625,000, plus assumed liabilities. This transaction was part of a strategic shift to focus on its core business.
The company continues to evaluate alternatives to obtain additional funding to maintain future operations, including potential equity financing, issuing debt, or monetizing assets.
Predictive Oncology's business involves the application of artificial intelligence to support the discovery and development of cancer therapies, using a proprietary biobank of over 150,000 tumor samples.
The company operates in two segments: the Pittsburgh segment, which provides AI-driven drug discovery services, and the Eagan segment, which produced the STREAMWAY System for medical fluid waste management.
The company reported cash and cash equivalents of $734,673 as of December 31, 2024, and continues to seek ways to generate revenue through business development activities.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Predictive Oncology Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.