Predictive Technology Group Inc (OTCMKTS: PRED) is on the rise in recent days since reversing off $0.521 lows. PRED has a long history of big moves and ran to highs of $6.91 in June of last year. From current levels PRED is getting lots of attention from speculators.
Microcapdaily has reported on PRED before, we noted in June, 2019 – Predictive Technology Group Inc has seen a spectacular rise over the past few years from well under $1 per share to recent highs over $5. PRED has emerged as a volume leader over the past few months as it continues to chart new 52 weeks highs. PRED was incorporated in Nevada and was formerlly known as K-9 Concepts, Inc. until 3-2008, Aussie Soles Group, Inc. until 7-2010, The Global Housing Group. until 3-2014 and Global Enterprises Group, Inc. until 7-2015
Predictive Technology Group Inc (OTCMKTS: PRED) 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 the Clinical Laboratory Improvement Act (CLIA). Its novel test for women experiencing infertility, ARTGuide(TM), was launched in late 2018 to selected Beta launch centers. ARTGuide(TM) is a proprietary gene test panel for women experiencing infertility as a result of endometriosis and other health concerns. The test is expected to change the way that Advanced Reproductive Technologies (ART), such as IVF, are used to assist couples having difficulty conceiving a pregnancy.
The Company aims to revolutionize patient care through predictive data analytics, novel gene-based diagnostics and companion therapeutics through its subsidiaries Predictive Therapeutics, Predictive Biotech, Predictive Diagnostics 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.
Recently PRED submitted an application to list Predictive common stock for trading on the NASDAQ, a move that we believe will generate increased visibility and credibility for our Company.”
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On February 14 PRED announced financial results for the fiscal second quarter ended December 31, 2019. Revenues from operations (net) for the three months ended December 31, 2019 totaled $7.3 million, compared with $10.7 million for the three months ended December 31, 2018. The decrease of $3.4 million was primarily due to the decline in sales volume of allograft products as compared to the year-ago period. The decrease in sales volume is due to increased FDA enforcement efforts affecting the regenerative medicine industry as a whole, which has negatively impacted the size of the market for regenerative medicine services and caused a contraction of sales of allograft products.
PRED CEO Bradley C. Robinson commented “During the fiscal second quarter and subsequent period, we made significant progress toward our goal of becoming a leading developer of diagnostics and therapeutics targeting the women’s health and fertility markets. The clear highlight since our last quarterly report is the announcement last month that we entered into a broad molecular diagnostic oncology development collaboration with Atrin Pharmaceuticals to develop diagnostic tools to facilitate improved selection of cancer patients who would most benefit from treatment with Atrin’s DNA Damage and Response inhibitors and other small molecule ATR inhibitors. This first-of-its-kind collaboration opens significant new markets for our state-of-the-art sequencing capabilities, genomics expertise and companion diagnostics and, we believe, establishes a framework for additional collaborations in the future. At the same time, market uptake for our recently introduced diagnostic tests, including FertilityDX™ and ARTguide™, is exceeding our expectations, reflecting the significant unmet needs that exist for accurate tests that can help patients and their doctors identify risk factors and barriers to pregnancy and develop tailored fertility treatments. We did anticipate some softness in our Predictive Biotech business during the quarter, driven by heightened FDA regulation of human cell and tissue products, and the regenerative medicine industry as a whole, which we believe caused a contraction across the market and a year-over-year decline in our Predictive Biotech revenue. Total company revenue for the quarter was $7.3 million, down about $3.4 million from $10.7 million that was reported fiscal second quarter of 2018. Notwithstanding this temporary headwind, however, we see significant value in the Biotech business, and we are the clear industry leader with an excellent safety and quality record of over 100,000 allografts implanted with no adverse events. As we enter the back half of our fiscal year, we continue to execute on our growth plan, and we believe that our emergence as a women’s health leader, together with our anticipated up-listing to the Nasdaq exchange, will unlock significant long-term value for our shareholders.”
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Currently trading at a $154 million market valuation PRED is fully reporting OTCQB with $119 million in assets, manageable debt and significant revenues recently reporting $7.3 million in sales for the 3 months ended, December 31, 2019. PRED is an exciting story in small caps – the Company has made ignificant progress toward its goal of becoming a leading developer of diagnostics and therapeutics targeting the women’s health and fertility markets. As CEO Bradley C. Robinson recently pointed out – ”As we enter the back half of our fiscal year, we continue to execute on our growth plan, and we believe that our emergence as a women’s health leader, together with our anticipated up-listing to the Nasdaq exchange, will unlock significant long-term value for our shareholders.” We will be updating on PRED when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with PRED.
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Disclosure: we hold no position in PRED either long or short and we have not been compensated for this article