Predictive Technology Group Reports Second Quarter Fiscal 2020 Financial Results and Provides Corporate Update - Seite 3

Sales and marketing expenses for the three months ended December 31, 2019 were $3.0 million, compared with $3.4 million for the three months ended December 31, 2018. The decrease in sales and marketing expense was due to lower paid commissions, as a majority of the company’s sales and marketing expenses are incurred in the HCT/P segment.

Research and development (R&D) expenses for the three months ended December 31, 2019 were $2.4 million, compared with $1.8 million for the three months ended December 31, 2018, the increase was primarily related to the development of new allograft products and continued development of molecular diagnostic tests.

General and Administrative (G&A) expenses for the three months ended December 31, 2019 were $7.0 million compared with $2.9 million for the three months ended December 31, 2018.  Approximately $3.3 million of the increase is due to increased share-based compensation expenses. Personnel costs also increased by $0.6 million.

Amortization and depreciation expenses for the three months ended December 31, 2019 were $2.8 million, compared with $2.0 million for the three months ended December 31, 2018.  The increase was driven by growth in the company’s intangible asset portfolio arising from business combinations and asset acquisitions.

Other loss for the three months ended December 31, 2019 increased to $16.5 million from $0.6 million for the three months ended December 31, 2018. The increase was primarily driven by the recognition of an impairment charge of $15.9 million on our equity method investment in Juneau Biosciences, LLC as part of a broader impairment review triggered by the recent decline in the Company's stock price.

The net loss attributable to controlling interest for the three months ended December 31, 2019 was $26.0 million, or $0.09 per share, versus a net loss attributable to controlling interest for the three months ended December 31, 2018 of $2.3 million, or $0.01 per share.

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.

Contacts:

For more information, visit www.predtechgroup.com or contact Investor Relations:

Media Contact
Patrick Bursey
LifeSci Public Relations
[e-mail]
646-876-4932

Investor Contact
Jeremy Feffer
LifeSci Advisors
[e-mail]
212-915-2568