Love it, I bought a few thousand today at $1.59. That's it for me, ready to see a steady climb back up, though.
It really feels like they're holding back on us, and when it's unleashed, the news in gonna flow like Niagara...
Love it, I bought a few thousand today at $1.59. That's it for me, ready to see a steady climb back up, though.
It really feels like they're holding back on us, and when it's unleashed, the news in gonna flow like Niagara...
[h=1]Predictive Technology Group Reports Fiscal Year 2019 Financial Results[/h][h=2]Revenue increases 162% to $43.5 million with $3.5 million in positive cash flow from operations[/h][FONT="]https://www.globenewswire.com/news-...orts-Fiscal-Year-2019-Financial-Results.html#[FONT="][/FONT][FONT="][/FONT][FONT="][/FONT][FONT="][/FONT][FONT="][/FONT]Email [FONT="][/FONT]Print Friendly [FONT="][/FONT]Share
September 30, 2019 16:02 ET | Source: Predictive Technology Group, Inc.
SALT LAKE CITY, Sept. 30, 2019 (GLOBE NEWSWIRE) -- Predictive Technology Group, Inc. (OTC PINK: PRED) (the Company), a leader in the use of data analytics for disease identification and subsequent therapeutic intervention through precision therapeutic treatments, reports financial results for fiscal year 2019 ended June 30, 2019 and provides a business update.
Management Commentary
“Fiscal 2019 fourth quarter revenue up 88%, to $13.4 million, compared to fiscal 2018 fourth quarter, was an all-time quarterly high and capped a highly productive year, with revenue up 162% to $43.5 million and cash flow from operations of $3.5 million,” said Bradley Robinson, CEO of Predictive Technology Group. “Notably, fiscal Q4 marked our 11[SUP]th[/SUP] consecutive quarter of sequential-quarter revenue growth.
“Over the past year we significantly strengthened our ability to support the successful development and commercialization of proprietary genetic-based diagnostic tests and services, while growing sales of human cell and tissue products,” he added. “We expanded our leadership and Board with highly qualified professionals, opened state-of-the-art laboratories and production facilities, and presented compelling data at leading industry conferences that further validate our genetic approach to develop cutting-edge diagnostics and related therapeutics at early points or intervention. Among highlights was our global infertility research collaboration with Thermo Fisher Scientific to use their market-leading next-generation sequencing technology and technical resources and expertise to commercialize current diagnostics and develop future comprehensive infertility diagnostic solutions. This partnership with a global diagnostics leader is a significant stride forward in securing a leadership role for Predictive in infertility diagnostics.
“In reviewing our diagnostics portfolio, we recently commercialized the PGxPLUS+™ test, which assists physicians in selecting the right medication for patients suffering from chronic pain. Additionally, preparations are underway to launch our genetic testing service for those experiencing infertility, FertilityDX, to select collaborators during the American Society for Reproductive Medicine conference in October,” Robinson said. “In addition to these launches, our near-term focus is on commercializing our endometriosis diagnostic test ARTguide™ and our human cell and tissue products, and on further improving products currently on the market.”
Fiscal Year 2019 and Recent Highlights
Predictive Laboratories
- Entered into a global infertility research collaboration with Thermo Fisher Scientific focused on studying the genetic factors that underlie infertility in women. The collaboration combines Predictive’s innovative research and development capabilities with Thermo Fisher Scientific’s market-leading next-generation sequencing technologies and analytical capabilities to better understand the genetics of infertility to facilitate current commercialization and future development of more comprehensive diagnostic solutions.
- Achieved a milestone with the collection of 2,500 DNA samples along with comprehensive medical records within five months of acquiring Clinical Laboratory Improvement Act (CLIA) operations in March 2019. The samples are being used to support development of personalized molecular diagnostics and clinical therapies.
- Launched ARTguide, a proprietary genetic test for women experiencing infertility as a result of endometriosis and other genetic conditions, to select key opinion leaders in reproductive endocrinology. The Houston Fertility Institute, through its agreement with Predictive, continues to generate clinical utility data to demonstrate improved outcomes from using this test with patients receiving fertility treatment.
- Launched PGxPLUS+, a pharmacogenomic test panel marketed to pain clinics for the evaluation of genetic factors that impact a patient’s response to pain medications.
- Completed the acquisition and integration of operations for the following companies:
○ Taueret Laboratories, LLC, a provider of genetic testing and DNA analysis services through its CAP/CLIA-certified laboratory, providing for faster entry into the high-growth women’s health testing market with proprietary commercial products.
○ Inception Dx, which included its next-generation sequencing and genotyping assets along with extensive protocols, quality and laboratory management systems and other resources required by a “high complexity” molecular diagnostic laboratory operating under CLIA.
○ Regenerative Medical Technologies, Inc., which included allogeneic stem cell product design, intellectual property, consented medical records from patients in 13 clinics, and clinical trial methodology for degenerative disc disease. - Announced personnel appointments for Predictive Laboratories including:
○ E. Robert Wassman, MD as Co-Laboratory Director. Dr. Wassman is a pioneer in the introduction of genetic testing and personalized medicine with over 35 years of experience.
○ Christine Seward, MS, CGC as Senior Vice President of Sales and Marketing, bringing extensive experience commercializing molecular diagnostics including products in reproductive medicine from her 16 years at Myriad Genetics.
○ Douglas S. Rabin, MD as Vice President of Medical Affairs, Women’s Health. Dr. Rabin has more than 25 years of experience in women's healthcare, including both clinical reproductive endocrinology, and obstetrics and gynecology.
○ Lesa Nelson as Chief Operations Officer and Debbie Dyckman as Director of Quality Control, with both joining from the former Taueret Laboratories. - Presented at leading industry conferences as follows:
○ New data demonstrating the genetic basis of endometriosis at the 2019 European Society of Human Reproduction and Embryology annual meeting. Whole exome sequencing was used to identify four genes with significant gene burden in more than 2,500 women with endometriosis. It was found that one in four women with endometriosis carry a mutation in one of these genes, whereas the frequency in the general population is only 8%.
○ New data at the Society for Reproductive Investigation meeting demonstrating the ability of the proprietary genetic test ENDORisk™ to differentiate patients with endometriosis from those without, with a high degree of sensitivity in the Caucasian population.
○ New scientific discoveries concerning the genetics of endometriosis at the 74[SUP]th[/SUP] American Society for Reproductive Medicine Scientific Congress & Expo. The presentation, “Can Genetic Markers of Endometriosis Predict a Patient’s Responsiveness to Leuprolide Acetate,” presented by Kenneth Ward, MD was recognized with the ASRM Scientific Program Committee’s “Best in Clinical/Population Science Prize Paper” research award. - Entered into a research collaboration with the Preeclampsia Foundation to expand the study of genetic factors associated with this condition. The study will advance the Foundation’s database of preeclampsia medical information and will be utilized by Predictive Laboratories to develop a proprietary test for the early detection of women at risk for preeclampsia.
- Appointed Jeff Acuff to the newly created position of Chief Commercial Officer. Mr. Acuff has more than 25 years of commercial and leadership experience and a deep knowledge of the healthcare industry with a record of successful execution in ortho-biologic sales, building high-performing teams and achieving exceptional results.
- Completed buildout of a new 15,164 sq. ft. production laboratory and R&D facility that meets good manufacturing Practice (cGMP) and Good Tissue Practice (cGTP) requirements. The lab features an ISO 7 cleanroom and 18 ISO 5 production hoods.
- Expanded and strengthened the Company’s Board of Directors as follows:
○ John E. Sorrentino as Chairman of the Board in addition to his role as Chair of the Company’s Scientific Advisory Board. Mr. Sorrentino has more than 35 years of life sciences executive experience including 15 years in leadership positions at Wyeth/Pfizer.
○ Senator Orrin G. Hatch, Ronald Barhorst and Jay M. Moyes as directors, bringing exceptional industry, public affairs, financial and governance experience and expanding Board membership to six, including four independent directors. - Appointed Charles Andres, JD, PhD to the Scientific Advisory Board. Dr. Andres leads the life sciences group at the law firm Wilson Sonsini Goodrich & Rosati’s Washington, DC office and has significant expertise in intellectual property, FDA/regulatory, transactions, business and government matters.
- Integrated the sales and marketing team from FlagshipHealth Group, previously a consultant contractor, to support commercial activities for Predictive Biotech and Predictive Laboratories through combined domestic direct sales and a nationwide distributor network.
- Submitted an application to Nasdaq to list the Company’s common stock.
- Filed a Form 10 registration statement with the SEC making the Company subject to the reporting requirements of the Exchange Act, including the filing of annual reports on Form 10-K, quarterly reports on Form 10-Q and periodic reports on Form 8-K, among other requirements.
Revenue for fiscal 2019 was $43.5 million, up 162% from $16.6 million for fiscal 2018, with the increase primarily due to higher demand for human cell and tissue products. In fiscal 2019 the Company elevated its presence at trade shows, expanded sales headcount and added several new distributors resulting in sales to more U.S. clinics.
Cost of goods sold for fiscal 2019 were $16.3 million, compared with $4.0 million for fiscal 2018 with the increase mainly due to an increase in the volume of products shipped, as well as increases in quality and regulatory costs, share-based compensation cost and facility costs.
Selling and marketing expenses for fiscal 2019 were $13.9 million, compared with $12.7 million for fiscal 2018. The increase was primarily due to higher commissions and personnel costs related to headcount as the Company continued to expand, partially offset by lower share-based compensation expense related to warrants issued in fiscal 2018 with no similar issuance in fiscal 2019.
General and administration expenses for fiscal 2019 were $18.2 million, compared with $5.8 million for fiscal 2018. The increase was primarily due to higher share-based compensation expense, as well as higher personnel costs and increased outside services costs mainly in connection with public company compliance.
R&D expenses for fiscal 2019 were $5.8 million, compared with $1.9 million for the prior fiscal year, with the increase primarily due to costs related to the development of diagnostic products, and continued development of human cell and tissue product manufacturing methods.
Depreciation and amortization expenses for fiscal 2019 were $9.2 million, compared with $4.6 million for fiscal 2018. The increase was primarily due to an increase in the intangible asset portfolio arising from business combinations, asset acquisitions and costs related to laboratory expansion.
Other loss for fiscal 2019 was $0.8 million, compared with other loss of $0.7 million for fiscal 2018. The change was primarily driven by higher losses from the equity method investment associated with the increasing ownership in Juneau Biosciences, LLC and a decrease in interest income, partially offset by the bargain purchase gain arising from the acquisition of Taueret Laboratories, LLC.
Net loss attributable to controlling interest for fiscal 2019 was $15.3 million, or $0.06 per share, compared with a net loss attributable to controlling interest for fiscal 2018 of $6.1 million, or $0.03 per share.
Cash and cash equivalents as of June 30, 2019 were $1.6 million, compared with $1.2 million as of June 30, 2018. Cash provided by operating activities for fiscal year 2019 was $3.5 million, a significant improvement from cash used in operating activities of $0.3 million for the prior fiscal year. The increase in cash provided by operating activities for the year ended June 30, 2019 compared to the prior year was primarily due to a $2.1 million decrease in the year over year change in inventories, and a $2.5 million increase in the year over year change in accounts payable. These increases were partly offset by an increase in the year over year change in accounts receivable.
About Predictive Biotech, Inc.
Predictive Biotech, Inc., a Salt Lake City-based life sciences company formed in 2015, is a leader in human cell and tissue products for use in cellular therapies and regenerative medicine. A growing national network of clinics, health systems, researchers and physicians leverage Predictive’s four main placental-derived and Wharton’s Jelly umbilical cord-derived products. Predictive Biotech’s current products are regulated by the FDA under 21 CFR part 1271 section 361 as minimally manipulated allografts intended for homologous use.
About Predictive Laboratories, Inc.
Predictive Laboratories owns significant next-generation sequencing and genotyping assets along with extensive protocols, quality and laboratory management systems and other resources required by a high complexity molecular diagnostic laboratory operating under CLIA. The group recently launched its novel test for women experiencing infertility, ARTguide, to selected collaborators. ARTguide is a proprietary gene test panel for women experiencing infertility as a result of endometriosis and other genetic conditions. The test is expected to change the way that Assisted Reproductive Technologies (ART), such as in vitro fertilization (IVF), are used to assist couples having difficulty conceiving a pregnancy.
About Predictive Technology Group, Inc.
Predictive Technology Group aims to revolutionize patient care through predictive data analytics, novel gene-based diagnostics and companion therapeutics through its subsidiaries Predictive Therapeutics, Predictive Biotech, and Predictive Laboratories. These subsidiaries are focused on endometriosis, scoliosis, degenerative disc disease, and human cell and tissue products. The subsidiaries use genetic and other information as cornerstones in the development of new diagnostics that assess a person’s risk of illness and therapeutic products designed to identify, prevent and treat diseases more effectively. Additional information is available at Predtechgroup.com, Predrx.com, Predictivebiotech.com, and Predictivelabs.com.
Forward-Looking Statements
This release contains “forward-looking” statements that are based on present circumstances and on Predictive Technology Group’s predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements and any statements of the plans and objectives of management for future operations and forecasts of future growth and value, are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements. Such forward-looking statements are made only as of the date of this release and Predictive Technology Group assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. The information in this press release should be read in conjunction with, and is modified in its entirety by, the Annual Report on Form 10-K (the “Form 10-K”) filed by the Predictive Technology Group with the Securities and Exchange Commission (the “SEC”) and all of the Company’s other public filings with the SEC (the “Public Filings”). In particular, the financial information contained herein is subject to and qualified by reference to the financial statements contained in the Form 10-K and Public Filings, the footnotes thereto and the limitations set forth therein. Investors may not rely on the press release without reference to the Form 10-K and the Public Filings.
Contacts
Investors
LHA Investor Relations
Jody Cain jcain@lhai.com
Kevin Mc Cabe kmccabe@lhai.com
310-691-7100
[/FONT]
Predictive Technology Group Reports Fiscal Year 2019 Financial Results
Revenue increases 162% to $43.5 million with $3.5 million in positive cash flow from operations
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September 30, 2019 16:02 ET | Source: Predictive Technology Group, Inc.
SALT LAKE CITY, Sept. 30, 2019 (GLOBE NEWSWIRE) -- Predictive Technology Group, Inc. (OTC PINK: PRED) (the Company), a leader in the use of data analytics for disease identification and subsequent therapeutic intervention through precision therapeutic treatments, reports financial results for fiscal year 2019 ended June 30, 2019 and provides a business update.Management Commentary
“Fiscal 2019 fourth quarter revenue up 88%, to $13.4 million, compared to fiscal 2018 fourth quarter, was an all-time quarterly high and capped a highly productive year, with revenue up 162% to $43.5 million and cash flow from operations of $3.5 million,” said Bradley Robinson, CEO of Predictive Technology Group. “Notably, fiscal Q4 marked our 11[SUP]th[/SUP] consecutive quarter of sequential-quarter revenue growth.
“Over the past year we significantly strengthened our ability to support the successful development and commercialization of proprietary genetic-based diagnostic tests and services, while growing sales of human cell and tissue products,” he added. “We expanded our leadership and Board with highly qualified professionals, opened state-of-the-art laboratories and production facilities, and presented compelling data at leading industry conferences that further validate our genetic approach to develop cutting-edge diagnostics and related therapeutics at early points or intervention. Among highlights was our global infertility research collaboration with Thermo Fisher Scientific to use their market-leading next-generation sequencing technology and technical resources and expertise to commercialize current diagnostics and develop future comprehensive infertility diagnostic solutions. This partnership with a global diagnostics leader is a significant stride forward in securing a leadership role for Predictive in infertility diagnostics.
“In reviewing our diagnostics portfolio, we recently commercialized the PGxPLUS+™ test, which assists physicians in selecting the right medication for patients suffering from chronic pain. Additionally, preparations are underway to launch our genetic testing service for those experiencing infertility, FertilityDX, to select collaborators during the American Society for Reproductive Medicine conference in October,” Robinson said. “In addition to these launches, our near-term focus is on commercializing our endometriosis diagnostic test ARTguide™ and our human cell and tissue products, and on further improving products currently on the market.”
Fiscal Year 2019 and Recent Highlights
Predictive Laboratories
Predictive Biotech
- Entered into a global infertility research collaboration with Thermo Fisher Scientific focused on studying the genetic factors that underlie infertility in women. The collaboration combines Predictive’s innovative research and development capabilities with Thermo Fisher Scientific’s market-leading next-generation sequencing technologies and analytical capabilities to better understand the genetics of infertility to facilitate current commercialization and future development of more comprehensive diagnostic solutions.
- Achieved a milestone with the collection of 2,500 DNA samples along with comprehensive medical records within five months of acquiring Clinical Laboratory Improvement Act (CLIA) operations in March 2019. The samples are being used to support development of personalized molecular diagnostics and clinical therapies.
- Launched ARTguide, a proprietary genetic test for women experiencing infertility as a result of endometriosis and other genetic conditions, to select key opinion leaders in reproductive endocrinology. The Houston Fertility Institute, through its agreement with Predictive, continues to generate clinical utility data to demonstrate improved outcomes from using this test with patients receiving fertility treatment.
- Launched PGxPLUS+, a pharmacogenomic test panel marketed to pain clinics for the evaluation of genetic factors that impact a patient’s response to pain medications.
- Completed the acquisition and integration of operations for the following companies:
○ Taueret Laboratories, LLC, a provider of genetic testing and DNA analysis services through its CAP/CLIA-certified laboratory, providing for faster entry into the high-growth women’s health testing market with proprietary commercial products.
○ Inception Dx, which included its next-generation sequencing and genotyping assets along with extensive protocols, quality and laboratory management systems and other resources required by a “high complexity” molecular diagnostic laboratory operating under CLIA.
○ Regenerative Medical Technologies, Inc., which included allogeneic stem cell product design, intellectual property, consented medical records from patients in 13 clinics, and clinical trial methodology for degenerative disc disease.- Announced personnel appointments for Predictive Laboratories including:
○ E. Robert Wassman, MD as Co-Laboratory Director. Dr. Wassman is a pioneer in the introduction of genetic testing and personalized medicine with over 35 years of experience.
○ Christine Seward, MS, CGC as Senior Vice President of Sales and Marketing, bringing extensive experience commercializing molecular diagnostics including products in reproductive medicine from her 16 years at Myriad Genetics.
○ Douglas S. Rabin, MD as Vice President of Medical Affairs, Women’s Health. Dr. Rabin has more than 25 years of experience in women's healthcare, including both clinical reproductive endocrinology, and obstetrics and gynecology.
○ Lesa Nelson as Chief Operations Officer and Debbie Dyckman as Director of Quality Control, with both joining from the former Taueret Laboratories.- Presented at leading industry conferences as follows:
○ New data demonstrating the genetic basis of endometriosis at the 2019 European Society of Human Reproduction and Embryology annual meeting. Whole exome sequencing was used to identify four genes with significant gene burden in more than 2,500 women with endometriosis. It was found that one in four women with endometriosis carry a mutation in one of these genes, whereas the frequency in the general population is only 8%.
○ New data at the Society for Reproductive Investigation meeting demonstrating the ability of the proprietary genetic test ENDORisk™ to differentiate patients with endometriosis from those without, with a high degree of sensitivity in the Caucasian population.
○ New scientific discoveries concerning the genetics of endometriosis at the 74[SUP]th[/SUP] American Society for Reproductive Medicine Scientific Congress & Expo. The presentation, “Can Genetic Markers of Endometriosis Predict a Patient’s Responsiveness to Leuprolide Acetate,” presented by Kenneth Ward, MD was recognized with the ASRM Scientific Program Committee’s “Best in Clinical/Population Science Prize Paper” research award.- Entered into a research collaboration with the Preeclampsia Foundation to expand the study of genetic factors associated with this condition. The study will advance the Foundation’s database of preeclampsia medical information and will be utilized by Predictive Laboratories to develop a proprietary test for the early detection of women at risk for preeclampsia.
Corporate Developments
- Appointed Jeff Acuff to the newly created position of Chief Commercial Officer. Mr. Acuff has more than 25 years of commercial and leadership experience and a deep knowledge of the healthcare industry with a record of successful execution in ortho-biologic sales, building high-performing teams and achieving exceptional results.
- Completed buildout of a new 15,164 sq. ft. production laboratory and R&D facility that meets good manufacturing Practice (cGMP) and Good Tissue Practice (cGTP) requirements. The lab features an ISO 7 cleanroom and 18 ISO 5 production hoods.
Fiscal Year 2019 Financial Results
- Expanded and strengthened the Company’s Board of Directors as follows:
○ John E. Sorrentino as Chairman of the Board in addition to his role as Chair of the Company’s Scientific Advisory Board. Mr. Sorrentino has more than 35 years of life sciences executive experience including 15 years in leadership positions at Wyeth/Pfizer.
○ Senator Orrin G. Hatch, Ronald Barhorst and Jay M. Moyes as directors, bringing exceptional industry, public affairs, financial and governance experience and expanding Board membership to six, including four independent directors.- Appointed Charles Andres, JD, PhD to the Scientific Advisory Board. Dr. Andres leads the life sciences group at the law firm Wilson Sonsini Goodrich & Rosati’s Washington, DC office and has significant expertise in intellectual property, FDA/regulatory, transactions, business and government matters.
- Integrated the sales and marketing team from FlagshipHealth Group, previously a consultant contractor, to support commercial activities for Predictive Biotech and Predictive Laboratories through combined domestic direct sales and a nationwide distributor network.
- Submitted an application to Nasdaq to list the Company’s common stock.
- Filed a Form 10 registration statement with the SEC making the Company subject to the reporting requirements of the Exchange Act, including the filing of annual reports on Form 10-K, quarterly reports on Form 10-Q and periodic reports on Form 8-K, among other requirements.
Revenue for fiscal 2019 was $43.5 million, up 162% from $16.6 million for fiscal 2018, with the increase primarily due to higher demand for human cell and tissue products. In fiscal 2019 the Company elevated its presence at trade shows, expanded sales headcount and added several new distributors resulting in sales to more U.S. clinics.
Cost of goods sold for fiscal 2019 were $16.3 million, compared with $4.0 million for fiscal 2018 with the increase mainly due to an increase in the volume of products shipped, as well as increases in quality and regulatory costs, share-based compensation cost and facility costs.
Selling and marketing expenses for fiscal 2019 were $13.9 million, compared with $12.7 million for fiscal 2018. The increase was primarily due to higher commissions and personnel costs related to headcount as the Company continued to expand, partially offset by lower share-based compensation expense related to warrants issued in fiscal 2018 with no similar issuance in fiscal 2019.
General and administration expenses for fiscal 2019 were $18.2 million, compared with $5.8 million for fiscal 2018. The increase was primarily due to higher share-based compensation expense, as well as higher personnel costs and increased outside services costs mainly in connection with public company compliance.
R&D expenses for fiscal 2019 were $5.8 million, compared with $1.9 million for the prior fiscal year, with the increase primarily due to costs related to the development of diagnostic products, and continued development of human cell and tissue product manufacturing methods.
Depreciation and amortization expenses for fiscal 2019 were $9.2 million, compared with $4.6 million for fiscal 2018. The increase was primarily due to an increase in the intangible asset portfolio arising from business combinations, asset acquisitions and costs related to laboratory expansion.
Other loss for fiscal 2019 was $0.8 million, compared with other loss of $0.7 million for fiscal 2018. The change was primarily driven by higher losses from the equity method investment associated with the increasing ownership in Juneau Biosciences, LLC and a decrease in interest income, partially offset by the bargain purchase gain arising from the acquisition of Taueret Laboratories, LLC.
Net loss attributable to controlling interest for fiscal 2019 was $15.3 million, or $0.06 per share, compared with a net loss attributable to controlling interest for fiscal 2018 of $6.1 million, or $0.03 per share.
Cash and cash equivalents as of June 30, 2019 were $1.6 million, compared with $1.2 million as of June 30, 2018. Cash provided by operating activities for fiscal year 2019 was $3.5 million, a significant improvement from cash used in operating activities of $0.3 million for the prior fiscal year. The increase in cash provided by operating activities for the year ended June 30, 2019 compared to the prior year was primarily due to a $2.1 million decrease in the year over year change in inventories, and a $2.5 million increase in the year over year change in accounts payable. These increases were partly offset by an increase in the year over year change in accounts receivable.
About Predictive Biotech, Inc.
Predictive Biotech, Inc., a Salt Lake City-based life sciences company formed in 2015, is a leader in human cell and tissue products for use in cellular therapies and regenerative medicine. A growing national network of clinics, health systems, researchers and physicians leverage Predictive’s four main placental-derived and Wharton’s Jelly umbilical cord-derived products. Predictive Biotech’s current products are regulated by the FDA under 21 CFR part 1271 section 361 as minimally manipulated allografts intended for homologous use.
About Predictive Laboratories, Inc.
Predictive Laboratories owns significant next-generation sequencing and genotyping assets along with extensive protocols, quality and laboratory management systems and other resources required by a high complexity molecular diagnostic laboratory operating under CLIA. The group recently launched its novel test for women experiencing infertility, ARTguide, to selected collaborators. ARTguide is a proprietary gene test panel for women experiencing infertility as a result of endometriosis and other genetic conditions. The test is expected to change the way that Assisted Reproductive Technologies (ART), such as in vitro fertilization (IVF), are used to assist couples having difficulty conceiving a pregnancy.
About Predictive Technology Group, Inc.
Predictive Technology Group aims to revolutionize patient care through predictive data analytics, novel gene-based diagnostics and companion therapeutics through its subsidiaries Predictive Therapeutics, Predictive Biotech, and Predictive Laboratories. These subsidiaries are focused on endometriosis, scoliosis, degenerative disc disease, and human cell and tissue products. The subsidiaries use genetic and other information as cornerstones in the development of new diagnostics that assess a person’s risk of illness and therapeutic products designed to identify, prevent and treat diseases more effectively. Additional information is available at Predtechgroup.com, Predrx.com, Predictivebiotech.com, and Predictivelabs.com.
Forward-Looking Statements
This release contains “forward-looking” statements that are based on present circumstances and on Predictive Technology Group’s predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements and any statements of the plans and objectives of management for future operations and forecasts of future growth and value, are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements. Such forward-looking statements are made only as of the date of this release and Predictive Technology Group assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. The information in this press release should be read in conjunction with, and is modified in its entirety by, the Annual Report on Form 10-K (the “Form 10-K”) filed by the Predictive Technology Group with the Securities and Exchange Commission (the “SEC”) and all of the Company’s other public filings with the SEC (the “Public Filings”). In particular, the financial information contained herein is subject to and qualified by reference to the financial statements contained in the Form 10-K and Public Filings, the footnotes thereto and the limitations set forth therein. Investors may not rely on the press release without reference to the Form 10-K and the Public Filings.
Contacts
Investors
LHA Investor Relations
Jody Cain jcain@lhai.com
Kevin Mc Cabe kmccabe@lhai.com
310-691-7100
Could we have had better news??
These developments are very impactful:
Corporate Developments
Corporate Developments
- Expanded and strengthened the Company’s Board of Directors as follows:
○ John E. Sorrentino as Chairman of the Board in addition to his role as Chair of the Company’s Scientific Advisory Board. Mr. Sorrentino has more than 35 years of life sciences executive experience including 15 years in leadership positions at Wyeth/Pfizer.
○ Senator Orrin G. Hatch, Ronald Barhorst and Jay M. Moyes as directors, bringing exceptional industry, public affairs, financial and governance experience and expanding Board membership to six, including four independent directors. - Appointed Charles Andres, JD, PhD to the Scientific Advisory Board. Dr. Andres leads the life sciences group at the law firm Wilson Sonsini Goodrich & Rosati’s Washington, DC office and has significant expertise in intellectual property, FDA/regulatory, transactions, business and government matters.
- Integrated the sales and marketing team from FlagshipHealth Group, previously a consultant contractor, to support commercial activities for Predictive Biotech and Predictive Laboratories through combined domestic direct sales and a nationwide distributor network.
- Submitted an application to Nasdaq to list the Company’s common stock.
- Filed a Form 10 registration statement with the SEC making the Company subject to the reporting requirements of the Exchange Act, including the filing of annual reports on Form 10-K, quarterly reports on Form 10-Q and periodic reports on Form 8-K, among other requirements.
ZACKS RESEARCH
| John Vandermosten (@vanjohn10) |
| 9/30/19, 5:47 PM $PRED 4Q revs exceed our estimates. $13.4 mm vs. our $12.0 mm |
Wonderful!
It's allowed me to accumulate and almost double my position on the low low.
PRED Directors and Officers' Shares Lock-Up Agreements
ANSWER TO FALSE ALLEGATIONS OF PUMP AND DUMP
FORM 10-K, Item 12:
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS
"All shares owned by executive officers and directors of the Company other than those acquired on the open market are subject to lockup agreements. The lockup agreements prevent the sale or transfer of not more than 1% of the covered shares per calendar month until August 2020 without Board approval."
Also, many of the share lock-up agreements were signed months ago.
ANSWER TO FALSE ALLEGATIONS OF PUMP AND DUMP
FORM 10-K, Item 12:
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS
"All shares owned by executive officers and directors of the Company other than those acquired on the open market are subject to lockup agreements. The lockup agreements prevent the sale or transfer of not more than 1% of the covered shares per calendar month until August 2020 without Board approval."
Also, many of the share lock-up agreements were signed months ago.
[FONT=Helvetica Neue, Helvetica, Arial, sans-serif]It is disturbing and strange that PRED has not filed its end of June quarterly report , I wouldn't do a thing here till then.
I just don't see how they reverse the huge operating losses , crazy this was a billion + dollar company months ago.[/FONT]
I just don't see how they reverse the huge operating losses , crazy this was a billion + dollar company months ago.[/FONT]
Pete Najarian https://www.cnbc.com/pete-najarian/
Co-Founder, MarketRebellion.com
Co-Founder, MarketRebellion.com
- Disclosures as of 10/8/19:
Long calls: Activision, Ally Financial, Altria Group, AT&T, Barrick Gold Corp, BP, Bristol-Myers Squibb, CISCO, CITI, Discovery, Freeport-McMoRan, Garena, Intel, Icandy Interactive, Johnson Controls International PLC, Marathon Petroleum, MGM Resorts, Oasis Petroleum, Occidental Petroleum, Petmeds, Petroleo Brasil, Salesforce, Snap, Sunrun Inc., TRI Pointe Group, United States Natural Gas Fund, VanEck Vectors Gold Miners ETF, VF Corp, W. P. Carey Inc., Vistra Energy Corp., Wells Fargo, Whiting Petroleum, WPX Energy Inc., X-trackers Harvest, XInhua China 25 index
Long stock: 3M, Apple, Bank of America, Canada Goose, Casey’s General Stores, CitiGroup, The Coca-Cola Co, CryoPort Inc, ExxonMobil, Facebook, H.B.Fuller, IBM, Intel, Kinder Morgan, Las Vegas Sands, Luckin Coffee, Lululemon Athletica, Marathon Petroleum, Merck & Co., Micron Technology, Microsoft, Netflix, PepsiCo, Pfizer, Predictive Technology Group, Restaurant Brands International, Revolve Group, Royal Caribbean Cruises, Southwest Airlines, Target, United Parcel Service, United Airlines Holdings, Upwork, U.S. Bancorp, The Walt Disney Company, Wells Fargo, Wynn Resorts.
Owns puts: General Electric Company.
8k Filing https://www.sec.gov/Archives/edgar/data/1382943/000109181819000249/pred08082019form8k.htm
"Deloitte becoming PRED's auditor occurred after many months of due-diligence, including reviewing SEC filings, PRED's financial statements and accounting practices, operations, and conducting a lengthy and detailed review of the false claims within Hindenburg. No global accounting firm would become PRED's auditor if the allegations (many on this board) against PRED were false, misleading, or inaccurate, including false SEC filings, insider trading and self-dealing, and the other negative bashing was even partly accurate. Deloitte does not become the auditor for bad actors because of the obvious legal and financial liabilities. Click to Deloitte's Audit Committee Resource Guide to understand compliance requirements that had to be in place for Deloitte to become PRED's auditor" Thomas
"Deloitte becoming PRED's auditor occurred after many months of due-diligence, including reviewing SEC filings, PRED's financial statements and accounting practices, operations, and conducting a lengthy and detailed review of the false claims within Hindenburg. No global accounting firm would become PRED's auditor if the allegations (many on this board) against PRED were false, misleading, or inaccurate, including false SEC filings, insider trading and self-dealing, and the other negative bashing was even partly accurate. Deloitte does not become the auditor for bad actors because of the obvious legal and financial liabilities. Click to Deloitte's Audit Committee Resource Guide to understand compliance requirements that had to be in place for Deloitte to become PRED's auditor" Thomas
Predictive Laboratories Announces Commercialization And Full Market Availability Of ARTguide™ At American Society Of Reproductive Medicine (ASRM) Scientific Congress And Expo
Company also presenting two oral and one poster scientific presentations at ASRM
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October 10, 2019 08:00 ET | Source: Predictive Technology Group, Inc.
SALT LAKE CITY, Oct. 10, 2019 (GLOBE NEWSWIRE) -- Predictive Laboratories, a wholly owned molecular and genetic diagnostics company of Predictive Technology Group (OTC Pink: PRED) focused on hard-to-detect diseases, women’s health and infertility, announces the commercialization and full market availability of ARTguide, the first integrated, DNA-based test that evaluates the risk for endometriosis and other genetic causes of infertility in women. After a successful beta launch, Predictive Laboratories completed a laboratory expansion that will allow ARTguide to now be available in fertility clinics across the United States.
“Endometriosis can be a debilitating disease for many women as it can cause severe pelvic pain, inflammation, adhesions to the fallopian tubes and uterus, and often, infertility,” said Kenneth Ward, M.D., Laboratory Director of Predictive Laboratories. “Nearly 50% of women who struggle with infertility have endometriosis, but because surgery is required for a definitive diagnosis, oftentimes it remains undiagnosed. ARTguide can predict a patient’s risk of endometriosis early on so that women have a better understanding of their barriers to conception, and therefore their physician can create a more personalized infertility treatment plan.”
ARTguide provides a greater understanding of over a dozen genetic conditions affecting a woman’s fertility by identifying previously invisible barriers to conception and improving success rates in assisted reproductive technologies (ART), such as in vitro fertilization (IVF). ARTguide tests for hundreds of genetic markers of endometriosis and 80 other additional mutations causing conditions such as ovarian failure, that may impact fertility. Through the identification of genetic infertility risk factors, ARTguide helps women optimally navigate their path towards conception and a healthy birth. ARTguide is appropriate for all women considering use of ART to overcome difficulty conceiving or carrying a pregnancy.
ARTguide’s full market availability will be announced during the American Society for Reproductive Medicine (ASRM) 2019 Scientific Congress and Expo, Oct. 12 - 16 in Philadelphia. In addition to sharing this news, Dr. Ward, a board-certified physician in obstetrics and gynecology, perinatology, clinical genetics and molecular genetics, will present two scientific papers at ASRM. The schedule of his speaking engagements are as follows:
- Wednesday, Oct. 16 at 6:30 a.m. ET — Poster presentation: Endometriosis risk allele in WNT4 may interact with rare mutations in HDAC2 gene
- Wednesday, Oct. 16 at 11:15 a.m. ET — Oral abstract: Somatic cancer driver mutations in endometriosis lesions contribute to secondary cancer risk
About Predictive Laboratories
Predictive Laboratories’ discoveries in molecular and genetic diagnostics focus on unmet needs in women’s health, infertility and other diseases. Predictive Laboratories offers earlier detection of disease through genetic assessment to guide personalized precision medicine. Leveraging its vast genetic database, Predictive Laboratories enables the discovery of genes and gene mutations that identify hard-to-diagnose and detect diseases and their prognosis.
The Company’s proprietary tests include ARTguide[SUP]TM[/SUP] and FertilityDX[SUP]TM[/SUP]. ARTguide is a blood test that assesses a woman’s endometriosis risk and other genetic causes of infertility in order to optimally navigate the path towards conception. FertilityDX is a comprehensive test and service, using the parental genetic assessment as the map to guide the journey to successful pregnancy and a healthy newborn. Predictive Laboratories’ tests are processed at the Company’s state-of-the-art CAP-accredited, CLIA-certified laboratory, equipping physicians with the robust diagnostic tools to provide personalized treatment for their patients. For more information, visit www.predictivelabs.com.
About Predictive Technology Group, Inc.
Predictive Technology Group aims to revolutionize and personalize precision patient care. The Company’s entities harness predictive gene-based analytics to develop genetic and molecular diagnostic tests, as well as companion therapeutics, in order to support a patient from diagnosis through treatment. The companies’ tests and products empower clinicians to provide their patients with the highest level of care. Predictive’s subsidiaries include Predictive Laboratories, Predictive Biotech and Predictive Therapeutics. For more information, visit www.predtechgroup.com.
Forward-Looking Statements:
To the extent any statements made in this release contain information that is not historical, these statements are essentially forward-looking and are subject to risks and uncertainties, including the difficulty of predicting FDA approvals, acceptance and demand for human cell and tissue products and other pharmaceutical products, the impact of competitive products and pricing, new product development and launch, reliance on key strategic alliances, availability of raw materials, availability of additional intellectual property rights, availability of future financing sources, the regulatory environment, and other risks the Company may identify from time to time in the future.
Media Contact:
Holly Dugan
predictive@antennagroup.com
201-465-8019
Investor Contact:
LHA Investor Relations
Jody Cain
jcain@lhai.com
Kevin McCabe
kmccabe@lhai.com
310-691-7100
|
Predictive Laboratories Launches FertilityDX™
Genetic testing service now available to identify causes of infertility and guide personalized fertility treatments
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October 14, 2019 08:00 ET|Source:Predictive Technology Group, Inc.
SALT LAKE CITY, Oct. 14, 2019 (GLOBE NEWSWIRE) --Predictive Laboratories, a wholly owned molecular and genetic diagnostics company of Predictive Technology Group (OTC Pink: PRED) focused on hard-to-detect diseases, women’s health and infertility, announces the launch of FertilityDX™, a comprehensive genetic testing service that identifies barriers to healthy pregnancy and birth, allowing doctors to tailor fertility treatments. The test launch will be formally announced at theAmerican Society for Reproductive Medicine (ASRM) 2019 Scientific Congress and Expo, Oct. 12-16 in Philadelphia.
“For the one in eight couples who struggle with infertility, trying to have a child can be financially, physically and emotionally exhausting—largely because the couple doesn’t knowwhythey are having difficulty conceiving,” said Kenneth Ward, M.D., Laboratory Director of Predictive Laboratories. Dr. Ward is a board-certified physician in obstetrics and gynecology, perinatology, clinical genetics and molecular genetics. “Our desire is to arm couples considering assisted reproductive technologies (ART) with an understanding of the genetic and medical obstacles that may be affecting their fertility and provide doctors with genetically relevant information to help their patients have a healthy baby.”
FertilityDX provides information by evaluating three key areas: contributors to (or causes of) infertility, risks of pregnancy complications, and risks for serious genetic conditions in offspring.
FertilityDX supports both physician and patient throughout the entirety of the treatment process. Patients are provided with pretest counseling and clear and relevant test results. Physicians get an easy-to-understand final report and access to a variety of genetics consultants. The test will be launched in select fertility clinics across the United States, offering couples access to the most comprehensive genetic service to date.
About Predictive Laboratories
Predictive Laboratories’ discoveries in molecular and genetic diagnostics focus on unmet needs in women’s health, infertility and other diseases. Predictive Laboratories offers earlier detection of disease through genetic assessment to guide personalized precision medicine. Leveraging its vast genetic database, Predictive Laboratories enables the discovery of genes and gene mutations that identify hard-to-diagnose and detect diseases and their prognosis.
The Company’s proprietary tests include ARTguide[SUP]TM[/SUP]and FertilityDX[SUP]TM[/SUP]. ARTguide is a blood test that assesses a woman’s endometriosis risk and other genetic causes of infertility in order to optimally navigate the path towards conception. FertilityDX is a comprehensive test and service, using the parental genetic assessment as the map to guide the journey to successful pregnancy and a healthy newborn. Predictive Laboratories’ tests are processed at the Company’s state-of-the-art CAP-accredited, CLIA-certified laboratory, equipping physicians with the robust diagnostic tools to provide personalized treatment for their patients. For more information, visitwww.predictivelabs.com.
About Predictive Technology Group, Inc.
Predictive Technology Group aims to revolutionize and personalize precision patient care. The Company’s entities harness predictive gene-based analytics to develop genetic and molecular diagnostic tests, as well as companion therapeutics, to support a patient from diagnosis through treatment. The companies’ tests and products empower clinicians to provide their patients with the highest level of care. Predictive’s subsidiaries include Predictive Laboratories, Predictive Biotech and Predictive Therapeutics. For more information, visitwww.predtechgroup.com.
Forward-Looking Statements:
To the extent any statements made in this release contain information that is not historical, these statements are essentially forward-looking and are subject to risks and uncertainties, including the difficulty of predicting FDA approvals, acceptance and demand for human cell and tissue products and other pharmaceutical products, the impact of competitive products and pricing, new product development and launch, reliance on key strategic alliances, availability of raw materials, availability of additional intellectual property rights, availability of future financing sources, the regulatory environment, and other risks the Company may identify from time to time in the future.
Media Contact:
Holly Dugan
predictive@antennagroup.com
201-465-8019
Investor Contacts:
LHA Investor Relations
Jody Cain
jcain@lhai.com
Kevin McCabe
kmccabe@lhai.com
310-691-7100
