Predictive Oncology Inc. Q2 FY2024 earnings call

• Significant announcement of a successful retrospective multiyear ovarian cancer study with UPMC Magee-Womens Hospital, expanding AI and ML offering for biomarker discovery. - Launched novel organ-specific 3D cell culture technology for more representative drug candidate testing. - Progress with Accelerating Compound Exploration (ACE) initiative, including first collaboration with University of Michigan. - Implemented a cost reduction initiative, including consolidating Birmingham operations into Pittsburgh to streamline operations and extend cash runway. - Recent capital raises: $3.7 million net in May via ATM facility and $1.3 million gross in July via warrant inducement transaction.

In the second quarter of 2024, Predictive Oncology reported revenues of $279,000, down from $490,000 in the comparable period of 2023. Revenues were primarily derived from the EGAN operating segment. The Birmingham segment generated net losses, with $2.0 million in 2023 and $1.8 million in 2022, and had de-minimis supporting revenue.

• The cost reduction initiative is expected to reduce the run rate for cash used in operating activities by approximately $2.5 million annually, equating to roughly 20% of cash burn based on 2023 figures.

• Forward-looking statements are subject to substantial risks, uncertainties, and assumptions. Actual performance may materially differ due to various factors including those in SEC filings' Risk Factors. The cost consolidation could pose operational challenges.

Q: [Operator closes the question-and-answer session] A: Thank you very much, and thanks, everyone, for being on the call. So that concludes our call for today. We hope that you take away from this call that we are extremely excited to actively pursue novel biomarker discovery and play a more direct role in the discovery and development of next-generation therapies, either independently or with a partner. This represents a tremendous opportunity for us to bring new hope to millions of patients worldwide in cancer and other high-need indications, while creating long-lasting value for our shareholders. Thank you again for your support and your patience, and I look forward to the next quarterly update in November. Have a great day.