Artificial Intelligence
Predictive Oncology Reports Financial Results for Quarter Ended June 30, 2021, and Provides Business Update
MINNEAPOLIS, Aug. 11, 2021 (GLOBE NEWSWIRE) — Predictive Oncology (Nasdaq: POAI), a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, today reported financial results for the quarter ended June 30, 2021, and provided an update on business activities.
Q2 2021 Highlights:
- Net proceeds of $19.4 million from registered direct equity offering, contributing to a cash balance of $44.9 million on June 30, 2021, compared to $3.4 million for the same period in 2020.
- Total Stockholders’ Equity increased $50.4 million to $53.1 million as of June 30, 2021, compared to $2.6 million on December 31, 2020.
- Predictive subsidiary TumorGenesis partners with Swedish firm Cellevate AB, a collaboration designed to help give researchers next-generation tools to build treatments for difficult diseases.
- Subsidiaries TumorGenesis and Soluble Biotech announce construction of GMP facilities expected to be completed by year end, allowing an expansion of their unique services to better meet the needs of their growing customer bases.
- Introduced Dr. Christina Jenkins, MD, strategic advisor and venture investor with expertise in clinical medicine, health systems, and health plans as its newest board member.
“We are pleased with the progress our business segments are making as we conclude the first full year of operations for Soluble Biotech,” commented J. Melville Engle, Predictive Oncology Chief Executive Officer. “Soluble and TumorGenesis’ new GMP facilities are slated for completion by the end of 2021, which we expect will drive revenue growth opportunities as we meet the needs of researchers who are exploring ways to use the cancer cell’s own mechanisms to produce a target, expressed protein or biological target.”
“Predictive Oncology believes the results from this quarter show growth opportunities in our business segments, consistent with our goals and business objectives, and with even greater potential in the future. As we look towards the latter half of the year, we are confident that we will retain this trajectory as we invest in our people and our product offerings, supporting pharmaceutical companies to deliver more targeted approaches to therapy, increasing our footprint in this space and bringing value to our shareholders.”
Q2 2021 Financial results
The Company recorded revenue of $350,207 for the quarter, compared to $182,784 for the same quarter in 2020. G&A expenses decreased $1.13 million for the three months ended June 30, 2021 compared to 2020.
During the three months ended June 30, 2021, revenue increased to $350,207, an increase of approximately 92% from the previous year quarter. This included $34,910 from the Soluble reportable segment, the largest ever quarter in terms of revenue for that segment.
The gross profit margin was approximately 59% in the three ended June 30, 2021 compared to 53% in the prior year. Gross profit margins increased in the second quarter ofthe current year as costs were lower.
Operations expense increased by $46,680 to $567,796 in the three months ended June 30, 2021 compared to 2020, primarily due to higher costs related to staff and higher AI computing costs, partially offset by lower consulting expenses.
The Company’s sales and marketing expenses increased by $26,773 for the quarter to $159,788 compared to the same period in 2020, a direct result of commission expenditures in the Skyline Medical business, which itself saw an increase in revenue of $132,398 over the previous year quarter.
Net cash used in operating activities was $5,526,978 and $6,721,084 for the six months ended June 30, 2021 and June 30, 2020, respectively. Cash used in operating activities decreased in the 2021 period primarily because of the decrease in cash used for working capital and the lower operating costs related to the Helomics and Skyline business.
Net cash provided by financing activities was $50,363,456 and $9,874,355 for the six months ended June 30, 2021 and June 30, 2020, respectively. The cash provided in the six months ended June 30, 2021 was primarily due to proceeds from issuance of common stock and warrants in six financing transactions and the exercise of warrants by investors, in addition to proceeds from the issuance of common stock pursuant to the equity line agreement, offset by the repayment of outstanding debt, all of which are discussed in the Company’s 10-Q filing with the Securities and Exchange Commission.
About Predictive Oncology Inc.
Predictive Oncology (NASDAQ: POAI) operates through three segments (Skyline, Helomics and Soluble Biotech), which contain four subsidiaries: Helomics, TumorGenesis, Skyline Medical and Soluble Biotech.
Helomics applies artificial intelligence to its rich data gathered from patient tumors to both personalize cancer therapies for patients and drive the development of new targeted therapies in collaborations with pharmaceutical companies. TumorGenesis Inc. specializes in media that help cancer cells grow and retain their DNA/RNA and proteomic signatures, providing researchers with a tool to expand and study cancer cell types found in tumors of the blood and organ systems of all mammals, including humans. Skyline Medical markets its patented and FDA cleared STREAMWAY System, which automates the collection, measurement and disposal of waste fluid, including blood, irrigation fluid and others, within a medical facility, through both domestic and international divisions. Soluble Biotech is a provider of soluble and stable formulations for proteins including vaccines, antibodies, large and small proteins and protein complexes.
Forward-Looking Statements:
Certain matters discussed in this release contain forward-looking statements. These forward-looking statements reflect our current expectations and projections about future events and are subject to substantial risks, uncertainties and assumptions about our operations and the investments we make. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, future financial position, future revenue and financial performance, projected costs, prospects, plans and objectives of management are forward-looking statements. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “would,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Our actual future performance may materially differ from that contemplated by the forward-looking statements as a result of a variety of factors including, among other things, factors discussed under the heading “Risk Factors” in our filings with the SEC. Except as expressly required by law, the Company disclaims any intent or obligation to update these forward-looking statements.
PREDICTIVE ONCOLOGY INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
| June 30, 2021 |
December 31, 2020 |
|||||||||
| (unaudited) | (audited) | |||||||||
| ASSETS | ||||||||||
| Current Assets: | ||||||||||
| Cash and cash equivalents | $ | 44,881,034 | $ | 678,332 | ||||||
| Accounts Receivable | 196,520 | 256,878 | ||||||||
| Inventories | 317,826 | 289,535 | ||||||||
| Prepaid Expense and Other Assets | 241,799 | 289,490 | ||||||||
| Total Current Assets | 45,637,179 | 1,514,235 | ||||||||
| Fixed Assets, net | 3,950,613 | 3,822,700 | ||||||||
| Intangibles, net | 3,254,838 | 3,398,101 | ||||||||
| Lease Right-of-Use Assets | 1,131,795 | 1,395,351 | ||||||||
| Other Long-Term Assets | 124,096 | 116,257 | ||||||||
| Goodwill | 2,813,792 | 2,813,792 | ||||||||
| Total Assets | $ | 56,912,313 | 13,060,436 | |||||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||||
| Current Liabilities: | ||||||||||
| Accounts Payable | $ | 941,960 | $ | 1,372,070 | ||||||
| Notes Payable – Net of Discounts of $0 and $244,830 | – | 4,431,925 | ||||||||
| Accrued Expenses and other liabilities | 1,256,087 | 2,588,047 | ||||||||
| Derivative Liability | 229,620 | 294,382 | ||||||||
| Deferred Revenue | 154,345 | 53,028 | ||||||||
| Lease Liability | 640,353 | 597,469 | ||||||||
| Total Current Liabilities | 3,222,365 | 9,336,921 | ||||||||
| Lease Liability – Net of current portion | 554,716 | 845,129 | ||||||||
| Other long-term liabilities | 47,146 | 235,705 | ||||||||
| Total Liabilities | 3,824,227 | 10,417,755 | ||||||||
| Stockholders’ Equity: | ||||||||||
| Preferred Stock, 20,000,000 authorized inclusive of designated below | ||||||||||
| Series B Convertible Preferred Stock, $.01 par value, 2,300,000 shares authorized, 79,246 and 79,246 shares outstanding | 792 | 792 | ||||||||
| Common Stock, $.01 par value, 100,000,000 shares authorized, 65,335,159 and 19,804,787 outstanding | 653,352 | 198,048 | ||||||||
| Additional paid-in capital | 167,279,695 | 110,826,949 | ||||||||
| Accumulated Deficit | (114,845,753 | ) | (108,383,108 | ) | ||||||
| Total Stockholders’ Equity | 53,088,086 | 2,642,681 | ||||||||
| Total Liabilities and Stockholders’ Equity | $ | 56,912,313 | $ | 13,060,436 | ||||||
PREDICTIVE ONCOLOGY INC.
CONDENSED CONSOLIDATED STATEMENTS OF NET LOSS
(Unaudited)
| 2021 | 2020 | 2021 | 2020 | ||||||||||||
| Revenue | $ | 350,207 | $ | 182,784 | $ | 630,524 | $ | 477,727 | |||||||
| Cost of goods sold | 142,877 | 85,261 | 240,635 | 177,918 | |||||||||||
| Gross profit | 207,330 | 97,523 | 389,889 | 299,809 | |||||||||||
| General and administrative expense | 2,077,973 | 3,211,817 | 5,348,750 | 6,040,293 | |||||||||||
| Operations expense | 567,796 | 521,116 | 1,142,608 | 1,069,869 | |||||||||||
| Sales and marketing expense | 159,788 | 133,015 | 274,429 | 397,424 | |||||||||||
| Total operating loss | (2,598,227 | ) | (3,768,425 | ) | (6,375,898 | ) | (7,207,777 | ) | |||||||
| Other income | 57,033 | 52,965 | 85,292 | 52,968 | |||||||||||
| Other expense | (1,829 | ) | (729,837 | ) | (236,801 | ) | (1,846,912 | ) | |||||||
| Gain (loss) on derivative instruments | (30,909 | ) | (422,081 | ) | 64,762 | (394,974 | ) | ||||||||
| Gain on notes receivables associated with asset purchase | – | 1,290,000 | – | 1,290,000 | |||||||||||
| Net loss | $ | (2,573,932 | ) | $ | (3,577,378 | ) | $ | (6,462,645 | ) | $ | (8,106,695 | ) | |||
| Net loss attributable to common shareholders per common shares-basic and diluted | $ | (2,573,932 | ) | $ | (3,577,378 | ) | $ | (6,462,645 | ) | $ | (8,106,695 | ) | |||
| Loss per common share basic | $ | (0.05 | ) | $ | (0.36 | ) | $ | (0.15 | ) | $ | (1.10 | ) | |||
| Loss per common share diluted | (0.05 | ) | (0.36 | ) | (0.15 | ) | (1.10 | ) | |||||||
| Weighted average shared used in computation – basic | 51,581,762 | 9,838,152 | 44,089,157 | 7,362,240 | |||||||||||
| Weighted average shared used in computation – diluted | 51,581,762 | 9,838,152 | 44,089,157 | 7,362,240 | |||||||||||
Investor Relations Contact:
Landon Capital
Keith Pinder
(404) 995-6671
[email protected]
Artificial Intelligence
Wego and Tourism Authority of Thailand Partner for The Fourth Consecutive Year, Showcasing the Beauty of Thailand
DUBAI, UAE, April 25, 2024 /PRNewswire/ — Wego, the largest online travel marketplace in the Middle East and North Africa (MENA), is thrilled to announce its continued partnership with the Tourism Authority of Thailand (TAT) for the fourth consecutive year, showcasing the unparalleled beauty and charm of Thailand as a premier travel destination.
Building upon the success of their previous collaborations, Wego and the Tourism Authority of Thailand are once again teaming up to promote Thailand’s diverse attractions, rich culture, and breathtaking landscapes to travelers worldwide. Through this strategic partnership, Wego aims to inspire travelers to explore the wonders of Thailand and experience its unique blend of tradition and modernity.
Over the past campaigns, Wego and the Tourism Authority of Thailand have successfully amplified Thailand’s appeal as a top travel destination, reaching millions of travelers and driving significant interest in visiting the country. From its pristine beaches and vibrant cities to its lush jungles and cultural heritage sites, Thailand offers an array of experiences that cater to every traveler’s preferences.
“We are delighted to continue our partnership with the Tourism Authority of Thailand for the fourth consecutive campaign,” said Mamoun Hmedan, Chief Business Officer, Wego. “Thailand is a beloved destination for travelers worldwide, and we are committed to showcasing its beauty and diversity through our platform. Together with the Thailand Tourism Board, we look forward to inspiring even more travelers to explore all that Thailand has to offer.”
The success of the previous campaigns underscores the effectiveness of Wego and the Thailand Tourism Board’s collaborative efforts in promoting Thailand as a must-visit destination. By leveraging Wego’s extensive reach and innovative marketing capabilities, the partnership aims to further elevate Thailand’s profile and attract more travelers to experience the magic of the Land of Smiles.
“We are thrilled to continue our partnership with Wego for the fourth campaign,” said Mr. Chaiwat Tamthai, Director of TAT Dubai office. “Thailand offers an unparalleled travel experience, from its stunning beaches and vibrant cities to its rich cultural heritage. Through our collaboration with Wego, we are excited to showcase the beauty of Thailand to travelers in the MENA region and invite them to discover the wonders of our country.”
As travelers seek unforgettable experiences and breathtaking landscapes, Wego and the Tourism Authority of Thailand are committed to showcasing Thailand’s unique charm and allure, inviting travelers to embark on an unforgettable journey to this enchanting destination.
About Wego
Wego provides award-winning travel search websites and top-ranked mobile apps for travelers living in the Asia Pacific and the Middle East regions. Wego harnesses powerful yet simple to use technology that automates the process of searching and comparing results from hundreds of airlines, hotels, and online travel agency websites.
Wego presents an unbiased comparison of all travel products and prices offered in the marketplace by merchants, both local and global, and enables shoppers to quickly find the best deal and place to book whether it is from an airline or hotel directly or with a third-party aggregator website.
Wego was founded in 2005 and is dual headquartered in Dubai and Singapore with regional operations in Bangalore, Riyadh, Cairo, Lahore, and Kuala Lumpur.
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Artificial Intelligence
Building Energy Management Systems Market Projected to Reach $67.69 billion by 2030 – Exclusive Report by 360iResearch
PUNE, India, April 24, 2024 /PRNewswire/ — The report titled “Building Energy Management Systems Market by Component (Hardware, Services, Software), Type (Integrated Building Energy Management Systems, Standalone Building Energy Management Systems), Application, Deployment Mode, End-Use – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $34.52 billion in 2023 to reach $67.69 billion by 2030, at a CAGR of 10.09% over the forecast period.
“Revolutionizing Energy Efficiency Globally With The Evolution of Building Energy Management Systems (BEMS)”
In an era where energy conservation and efficiency have become paramount, building energy management systems (BEMS) are at the forefront of this transformation, offering solutions that monitor, control, and optimize energy usage within buildings. These advanced systems, leveraging real-time data analytics, automate energy control, enhance energy savings, reduce costs, and contribute to a greener planet. Primarily utilized in commercial spaces, residential areas, and industrial sectors, BEMS has a broad application scope, covering HVAC, lighting, and security systems. Factors driving the expansion of the BEMS market include escalating energy expenses, heightened awareness of environmental impacts, and the increasing incorporation of Internet of Things (IoT) and cloud-based technologies, coupled with supportive government initiatives promoting energy-efficient infrastructures. Although challenges such as high initial costs and technology integration barriers exist, the advent of AI and IoT technologies within BEMS heralds a future of predictive energy management and remote operational capabilities, with a growing emphasis on integrating renewable energy sources. Regions such as the United States, Canada, the European Union, and emerging economies such as China and India are witnessing significant growth in BEMS adoption, spurred by regulatory policies and a shift towards sustainable building practices. This global movement toward BEMS signals a step toward reducing carbon footprints and highlights the collective effort to embrace technology for a sustainable future.
Download Sample Report @ https://www.360iresearch.com/library/intelligence/building-energy-management-systems
“Harnessing Energy Management for Sustainability and Efficiency”
Data centers are pivotal infrastructures in the digital transformation era, consuming up to 50 times more energy than typical commercial spaces. This energy demand positions data centers as key contributors to the U.S.’s overall electricity consumption. Recognizing this, implementing building energy management systems (BEMS) is crucial in mitigating the environmental impact and operational costs associated with data centers. BEMS optimizes cooling systems to prevent equipment overheating, thereby enhancing energy efficiency by leveraging real-time data. Such systems reduce the power usage effectiveness (PUE) ratio, highlighting a move toward more sustainable consumption patterns and ensuring data centers’ operational continuity. Integrating seamlessly with existing infrastructure, BEMS offers a comprehensive approach to energy management, enabling more innovative cooling, efficient power usage, and predictive maintenance. This transition highlights a commitment to environmental responsibility and fosters operational efficiency, setting a new standard for data center operations worldwide.
“Revolutionizing Building Efficiency With Advanced Energy Management Systems Optimized Usage”
In push toward sustainability, building energy management systems (BEMS) stands at the forefront of innovation, integrating sophisticated hardware such as sensors, actuators, controllers, and more to manage and reduce energy consumption in buildings meticulously. These systems work in concert to monitor environmental conditions and adjust heating, ventilation, and air conditioning (HVAC) settings in real time, leading to significant energy savings. BEMS provides valuable data that helps identify savings opportunities, while networking tools ensure seamless communication between devices by precisely tracking energy flow through meters. Servers process vast amounts of data, enabling detailed analysis and actionable insights to refine energy use further. Additionally, comprehensive services, including customized consultations and dedicated support, ensure that each BEMS is tailored to a building’s unique needs, providing efficient operation and extended system longevity. BEMS exemplifies the strategic shift toward more sustainable and operationally excellent building management through the collaborative synergy of hardware, software, and expert services.
Request Analyst Support @ https://www.360iresearch.com/library/intelligence/building-energy-management-systems
“Schneider Electric SE at the Forefront of Building Energy Management Systems Market with a Strong 13.97% Market Share”
The key players in the Building Energy Management Systems Market include Schneider Electric SE, Honeywell International Inc., Azbil Corporation, Emerson Electric Co., Johnson Controls International PLC, and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
“Introducing ThinkMi: Revolutionizing Market Intelligence with AI-Powered Insights for the Building Energy Management Systems Market”
We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the Building Energy Management Systems Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive Building Energy Management Systems Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
Ask Question to ThinkMi @ https://app.360iresearch.com/library/intelligence/building-energy-management-systems
“Dive into the Building Energy Management Systems Market Landscape: Explore 180 Pages of Insights, 566 Tables, and 26 Figures”
PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket InsightsBuilding Energy Management Systems Market, by ComponentBuilding Energy Management Systems Market, by TypeBuilding Energy Management Systems Market, by ApplicationBuilding Energy Management Systems Market, by Deployment ModeBuilding Energy Management Systems Market, by End-UseAmericas Building Energy Management Systems MarketAsia-Pacific Building Energy Management Systems MarketEurope, Middle East & Africa Building Energy Management Systems MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/building-energy-management-systems
Related Reports:
Home Energy Management System Market – Global Forecast 2024-2030Energy Management System Market – Global Forecast 2024-2030Intelligent Building Automation Technologies Market – Global Forecast 2024-2030About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset — our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
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Artificial Intelligence
Terra Drone, Unifly, and Aloft Launch UTM Development for AAM Targeting Global Markets
TOKYO, April 25, 2024 /PRNewswire/ — Terra Drone Corporation, a leading drone and Advanced Air Mobility (AAM) technology provider headquartered in Japan, announced today the launch of joint development with its Group companies Unifly NV (“Unifly”) and Aloft Technologies Inc. (“Aloft”) focused on UAS Traffic Management (UTM) for AAMs targeting global markets. Terra Drone has been making strides in its pioneering UTM business via strategic investments in Unifly, a leading UTM technology provider based in Belgium, and Aloft, which has the top UTM market share in the U.S. This collaboration marks the world’s first-ever joint UTM development for AAMs by multiple companies with extensive track records in UTM implementation and operation.
The three companies pursue joint UTM development to capitalize on the rapid global progress in electric vertical take-off and landing aircrafts (eVTOLs), set to revolutionize transportation. Morgan Stanley forecasts the Urban Air Mobility (UAM) market to reach $1 trillion by 2040 and $9 trillion by 2050 (1), with eVTOLs gaining global recognition through test flights and prototype showcases.
The companies proudly announce initiatives to enhance their existing UTM platforms in anticipation of the surge in eVTOL aircraft and drone activities. The shared vision for the UTM platform is to enable safe and efficient flight operations for eVTOLs and drones in the foreseeable future.
Recognizing the evolving needs of the AAM industry, they are dedicated to extending their platform by incorporating crucial additional functions. These enhancements, designed with automation at their core, aim to streamline operational efficiencies and pave the way for the integration of their increasingly automated UTM technology into the design and operational framework of AAMs. Through these efforts, they aim to set new standards in UTM and to facilitate the seamless integration of eVTOLs and drones into the national airspace, bolstering the potential for the AAM industry.
Through this initiative, they aim to build a global UTM infrastructure that kickstarts the AAM industry worldwide, creating a cohesive ecosystem that supports AAM growth and addresses broader challenges of urban mobility, sustainability, and air traffic safety.
Notes to Editor:
Research by Morgan Stanley in a report titled “eVTOL/Urban Air Mobility TAM Update: A Slow Take-Off, But Sky’s the Limit” https://advisor.morganstanley.com/the-busot-group/documents/field/b/bu/busot-group/Electric%20Vehicles.pdf]
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