Affirms business strategy and milestones
SALT LAKE CITY, July 15, 2019 (GLOBE NEWSWIRE) -- Predictive Technology Group, Inc. (OTC PINK: PRED), a leader in the use of data analytics for disease identification and subsequent clinical intervention through precision therapeutic treatments, announces the continuation of consecutive quarter revenue growth for the fiscal 2019 fourth quarter ended June 30, 2019.
“We are proud of our revenue growth, fundamentals and business momentum. We continue to make excellent progress with our strategy to increase sales from our human cell and tissue products, while preparing for the full commercial launch in the coming quarters of our genetic-based endometriosis and fertility diagnostic/prognostic tests,” said Bradley Robinson, CEO of Predictive Technology Group.
“Over the past several months we made significant strides in building a strong infrastructure,” Robinson added. “We strengthened our executive leadership and our board of directors, announced a key global collaboration with Thermo Fisher Scientific to better understand the genetic factors underlying infertility, and presented new genetic data at key industry conferences. We also completed the integration of two DNA laboratories into Predictive Laboratories at a much faster pace than anticipated, and appointed experienced industry veterans to lead this state-of-the-art facility. Additionally, we filed a Form 10 with the United States Securities and Exchange Commission (US SEC) that is effective, making Predictive Technology Group a full reporting 1934 Exchange Act compliant company. And, we submitted an application, which is currently under review, to list Predictive Technology Group’s common stock for trading on The NASDAQ Stock Market.”
The Company expects to report its fourth quarter and fiscal 2019 full year financial results in September 2019.
Predictive is aware that a short-seller recently issued a critical opinion piece regarding the Company in an attempt to manipulate the Company’s stock price. “This opinion piece was produced by anonymous author(s) who admit in the opinion piece that they ‘have taken a really large short position in shares’ of our Company and ‘stand to benefit financially if the stock price declines,’” said John Sorrentino, Chairman of Predictive Technology Group. “As stated in the short-seller opinion’s disclaimers, the anonymous authors refuse to stand behind their allegations – they make ‘no representation, express or implied, as to the accuracy, timeliness, or completeness of [the opinion’s] information. . .’ Given that the short-seller opinion is intended to drive down the price of the Company’s stock and the opinion’s authors have refused to guarantee the accuracy of the ‘information’ the opinion espouses, the Company will not dignify the opinion piece with a point-by-point response. The Company remains focused on developing products that have the potential to improve the quality of life for people throughout the world.”
The Company notes, however, that some of the topics raised in the piece - including the Company’s recent acquisitions - are fully disclosed, in detail, in the Company’s filings with the US SEC. The Company encourages stakeholders to review the detail of these transactions in its US SEC Edgar filings.
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.
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.