Predictive Oncology Provides Updates on Commercialization of Its Cancer Quest 2020 Initiative
Predictive Oncology’s Helomics division has been working closely with its sequencing partner to optimize and scale the generation of both genomic and transcriptomic data. The Company has sequenced the first batch of ovarian tumors and anticipates that the sequencing of the remainder of the 400 ovarian cancer subjects will proceed as planned, establishing another milestone in its CancerQuest 2020 initiative and progression to commercialization. The Company expects to shortly receive outcome data on the 400 subjects in this retrospective trial from its collaborators at the
The coupling of the multi-omic data with existing drug response profiles and the outcome data will allow Helomics to build its first AI-driven predictive model of ovarian cancer which it expects to be commercialized in the first quarter of 2020. Helomics intends to sequence 50% of its 38,000+ ovarian tumors over the next 9-12 months, generating what it believes will be the world’s first comprehensive, actionable multi-omic dataset for ovarian cancer that will be used for further model building. The Company intends to sequence other cancers types in its database to build additional AI-driven predictive models, and strategically broaden its commercial footprint in both the clinical and research markets.
Certain of the matters discussed in the press release contain forward-looking statements that involve material risks to and uncertainties in the Company’s business that may cause actual results to differ materially from those anticipated by the statements made herein. Such risks and uncertainties include (i) risks related to the recent merger with Helomics, including the fact that the combined company will not be able to continue operating without additional financing; possible failure to realize anticipated benefits of the merger; costs associated with the merger may be higher than expected; the merger may result in disruption of the Company’s and Helomics’ existing businesses, distraction of management and diversion of resources; and the market price of the Company’s common stock may decline as a result of the merger; (ii) risks related to our partnerships with other companies, including the need to negotiate the definitive agreements; possible failure to realize anticipated benefits of these partnerships; and costs of providing funding to our partner companies, which may never be repaid or provide anticipated returns; and (iii) other risks and uncertainties relating to the Company that include, among other things, current negative operating cash flows and a need for additional funding to finance our operating plan; the terms of any further financing, which may be highly dilutive and may include onerous terms; unexpected costs and operating deficits, and lower than expected sales and revenues; sales cycles that can be longer than expected, resulting in delays in projected sales or failure to make such sales; uncertain willingness and ability of customers to adopt new technologies and other factors that may affect further market acceptance, if our product is not accepted by our potential customers, it is unlikely that we will ever become profitable; adverse economic conditions; adverse results of any legal proceedings; the volatility of our operating results and financial condition; inability to attract or retain qualified senior management personnel, including sales and marketing personnel; our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; Predictive’s ability to implement its long range business plan for various applications of its technology; Predictive’s ability to enter into agreements with any necessary marketing and/or distribution partners and with any strategic or joint venture partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of Predictive’s technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company’s reports filed with the
Source: Predictive Oncology Inc.