Predictive Technology Group and Manufacturing Partners Provide Updates of Its Assurance AB COVID-19 IgM/IgG Rapid Antibody Test for Use by Laboratories and Healthcare Workers at the Point of Care

Company provides formal response to misleading recently published short report

SALT LAKE CITY, March 30, 2020 (GLOBE NEWSWIRE) -- Predictive Technology Group (OTC PINK: PRED) (“Predictive” or “The Company”), a leader in the development of genetic and molecular diagnostics and companion therapeutics, and its manufacturing partner, Jiangsu Dablood Pharmaceutical CO, Ltd. (Dablood), a partner entity of Da An Gene Co., Ltd., today made several updates and progress reports on its Assurance AB COVID-19 IgM/IgG Rapid Antibody Test (Assurance AB) intended for laboratories and healthcare workers at the point-of-care in the U.S.   

“An opinion piece critical of Predictive was posted online last week by individually unidentified author(s) who admitted they have taken a short position in shares of The Company,” said John Sorrentino, chairman of Predictive Technology Group. “We encourage every reader to do their own due diligence and review the documents posted today on Predictive Laboratories’ website. The author(s), hiding behind anonymity – and attempts to disclaim – also warn that ‘Hindenburg Research makes no representation, express or implied, as to the accuracy, timeliness, or completeness of any such information.’ Because the opinion piece itself warns readers of its short position-based bias and its unwillingness to guarantee the accuracy of any ‘information’ it espouses, The Company will not dignify the opinion piece with a point-by-point response, however we felt compelled to address a few egregious misrepresentations and untruths.”

The opinion piece asserts a material falsehood that “Dablood is NOT one of the companies approved by the Chinese government to offer COVID-19 tests. The official list of approved COVID-19 test providers is published by the Chinese government, was updated as of March 17^th, and does not include Dablood or its affiliates.” If properly investigated, one can find that #5 on the referenced list is Da An Gene Co., Ltd. Guangzhou Darui Biotechnology, a subsidiary of Da An Gene Co., Ltd., has joint venture entity in Dablood. As such, Dablood operates under the Da An Gene Co., Ltd. license.

Regarding Predictive’s formal request for Emergency Use Authorization (EUA) from the FDA to distribute Assurance AB, the opinion piece states, in part, that “Predictive has no specific approval from requisite U.S. authorities to provide this test.” The Company views this statement as simply not true.