Predictive Technology Group Inc (OTCMKTS:PRED) just announced that it and Atrin Pharmaceuticals LLC are entering into a collaboration agreement to develop molecular diagnostic tools to facilitate improved selection of cancer patients who would most benefit from treatment with DNA Damage and Response (DDR) inhibitors, including Atrin’s and other small molecule ATR inhibitors.
According to the release, “Atrin and Predictive will jointly utilize Predictive Laboratories’ state-of-the-art sequencing capabilities and genomics expertise to identify cancer patients with specific molecular markers that predict the level of clinical response to Atrin’s, and other, targeted therapies. This is intended to improve patient outcomes as well as improve Atrin’s ability to successfully progress its product pipeline, and upon commercialization, improve on the treatments for women with cancer.”
Predictive Technology Group Inc (OTCMKTS:PRED) promulgates itself as a company that, together with its subsidiaries, develops and commercializes discoveries and technologies involved in novel molecular diagnostic and pharmaceutical therapeutic/human cells, tissues, and human cellular and tissue-based products (HCT/Ps).
The company was formerly known as Global Enterprises Group, Inc. and changed its name to Predictive Technology Group, Inc. in July 2015. Predictive Technology Group, Inc. was founded in 2005 and is headquartered in Salt Lake City, Utah.
The company operates through two segments, Regenerative Medicine Products and HCT/Ps, and Diagnostics and Therapeutics. It offers ARTguide, a genetic diagnostic and prognostic test for women experiencing infertility as a result of endometriosis and other health concerns; and regenerative medicine products, including AmnioCyteT, AmnioCyte PlusT, PolyCyteT, and CoreCyteT.
According to company materials, “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.”
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As noted above, PRED just announced that it and Atrin Pharmaceuticals LLC are entering into a collaboration agreement to develop molecular diagnostic tools to facilitate improved selection of cancer patients who would most benefit from treatment with DNA Damage and Response (DDR) inhibitors, including Atrin’s and other small molecule ATR inhibitors.
Even in light of this news, PRED has had a rough past week of trading action, with shares sinking something like -2% in that time. That said, chart support is nearby and we may be in the process of constructing a nice setup for some movement back the other way. Moreover, the stock has seen interest climb, with an increase in recent trading volume of 12% beyond what we have been seeing over the larger time frame.
“We are very pleased to work with Atrin Pharmaceuticals, a recognized leader in the development of anti-cancer therapeutics targeting DDR,” said Bradley Robinson, president and chief executive officer of Predictive Technology Group. “We see an opportunity to develop a precision medicine approach to address unmet medical needs by combining our state-of-the-art sequencing capabilities, genomics expertise and companion diagnostics with Atrin’s targeted therapeutics. This collaboration is consistent with our vision of building a leading women’s health platform, and we look forward to working together on this important initiative.”
Earning a current market cap value of $252M, PRED has a stash ($842K) of cash on the books, which compares with about $8.6M in total current liabilities. PRED is pulling in trailing 12-month revenues of $43.7M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 2.4%. You can bet we will update this one again as new information comes into view. Sign-up for continuing coverage on shares of $PRED stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
