Predictive Oncology Receives Notice of Non-Compliance from Nasdaq

On November 20, 2024, Predictive Oncology Inc. (NASDAQ: POAI) announced in a filing with the Securities and Exchange Commission that it had received a notice from The Nasdaq Stock Market LLC regarding non-compliance with the minimum stockholders’ equity requirement for continued listing on The Nasdaq Capital Market.

According to the notice, Predictive Oncology’s stockholders’ equity of $1,966,969 as reported in the company’s Quarterly Report on Form 10-Q for the period ended September 30, 2024, fell below the required minimum of $2.5 million. Additionally, the company did not meet the alternative compliance standards, which include a market value of listed securities of at least $35 million or net income from continuing operations of $500,000 in the most recent fiscal year or two of the last three fiscal years.

However, the notice does not immediately impact the listing of Predictive Oncology’s common stock on The Nasdaq Capital Market. The company’s listing remains effective, subject to compliance with other continued listing requirements and regaining compliance with the stockholders’ equity requirement.

Predictive Oncology has 45 calendar days from November 20, 2024, to submit a plan to Nasdaq to regain compliance with the stockholders’ equity requirement. If accepted, Nasdaq may grant an extension of up to 180 calendar days from the date of the notice for the company to demonstrate compliance.

The company is currently assessing various strategies to regain compliance and intends to submit a plan timely. However, there is no guarantee that the plan will be accepted or that Predictive Oncology will successfully regain compliance to maintain its listing on The Nasdaq Capital Market.

Failure to submit a compliance plan, non-acceptance of the plan, or inability to regain compliance within the specified timeframe could lead to the company’s securities becoming subject to delisting. Predictive Oncology would have the opportunity to appeal any delisting decision to a Nasdaq Hearings Panel, although success is not assured.

In the filing, Predictive Oncology confirmed its commitment to working towards regaining compliance with the stockholders’ equity requirement. The company’s interim Chief Financial Officer, Josh Blacher, signed the report on behalf of the registrant on November 22, 2024. It included an interactive data file as an exhibit for reference.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Predictive Oncology’s 8K filing here.

About Predictive Oncology

Predictive Oncology Inc operates as a science-driven company on the oncology drug discovery. It provides various solutions for the oncology drug development. The company, through the integration of scientific rigor and machine learning, has developed the ability to advance molecules into medicine by introducing human diversity earlier into the discovery process with the pairing of artificial intelligence and the biobank of approximately 150K tumor samples.