Predictive Oncology Inc. (NASDAQ:POAI) Q3 2023 Earnings Call Transcript November 14, 2023
Operator: Good day, and thank you for standing by. Welcome to the Predictive Oncology Q3 2023 Earnings Conference Call. [Operator Instructions] Please be advised that today’s conference is being recorded. And I would now like to hand the conference over to your speaker for today, Mr. Glenn Garmont, Investor Relations. Mr. Garmont, please go ahead.
Glenn Garmont: Welcome, and thank you, everyone, for dialing into the Predictive Oncology third quarter 2023 earnings call. First, you’ll hear from our Chief Executive Officer and Chairman of the Board, Raymond Vennare; then our Chief Financial Officer, Josh Blacher, will review our financials; finally, Dr. Pamela Bush, our Chief Business Officer, will join Raymond and Josh to answer any questions that you may have. Certain matters discussed on this call 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 the call 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. And now I would like to turn the call over to Raymond Vennare, Chief Executive Officer. Raymond?
Copyright: nexusplexus / 123RF Stock Photo
Raymond Vennare: Glenn, thank you very much, and good morning, everyone. In March of this year, we were very pleased to announce a research collaboration with Cancer Research Horizons, whereby we would utilize our AI drug discovery platform, our PEDAL platform, to evaluate several CRH preclinical glutaminase inhibitor drug compounds to determine which cancer types and patient populations are most likely to respond to treatment with these compounds. As a reminder, CRH is the innovative engine at the core of Cancer Research UK, the largest independent funder of cancer research in the world. CRH has a network of more than 4,000 cancer researchers, an annual research spend of more than $370 million, 11 drugs currently on the market and another 160 candidates in various stages of development.
Today, I am pleased to announce that we have provided CRH with the initial results of this research collaboration, which, as you might imagine, is a very significant milestone for our company, not only in terms of the results themselves, but because we were able to achieve these results in a matter of weeks. By prioritizing the development of the strongest candidates for the ideal tumor types based upon the output from PEDAL, CRH can save significant time and resources by pursuing only those projects that are most likely to succeed in the clinic. With our proprietary biobank of more than 150,000 tumor samples and CLIA-certified wet labs, we believe we can predict with a higher degree of accuracy than anyone else the probability of clinical success because we were able to introduce patients and tumor heterogeneity into the very earliest stages of drug development.
See also Diversified Stock Portfolio: 10 Sector ETFs and International ETFs to Buy and 15 Best U.S. Stocks to Buy Now Under $10.
To continue reading the Q&A session, please click here.