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Predictive Oncology Initiates $2.2M Direct Stock Offering

NEW YORK – Predictive Oncology said Thursday that it has agreed to a direct offering of 1,396,826 shares at $1.575 per share, for gross proceeds of about $2.2 million.  

The company also will issue new investors an equal number of unregistered warrants at $1.45 per share. These warrants will expire 5.5 years from issuance.  

H.C. Wainwright is the exclusive placement agent for this offering, which is priced at-market, per Nasdaq rules 

The Eagan, Minnesota-based developer of artificial intelligence and other bioinformatics technologies for precision medicine and drug discovery said that it would apply as much as $487,000 of the net proceeds to repay debts to Oasis Capital. The rest would be used as working capital. 

Formerly known as Precision Therapeutics, Predictive Oncology had another offering of $3.2 million in October when the stock was worth just $0.50 per share. 

The firm operates through three subsidiaries: Helomics, which provides tumor-analysis services for treatment personalization and new drug development; TumorGenesis, which is developing patient-derived tumor models for precision drug testing; and Skyline Medical, which markets a US Food and Drug Administration-approved system for automated medical fluid disposal. 

In mid-afternoon trading Thursday on the Nasdaq, Predictive Oncology stock was down 12 percent to $1.32. 

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