Precision Therapeutics (NASDAQ:AIPT) formerly Skyline Medical, a company focused on applying artificial intelligence to personalized medicine and drug discovery, announced today financial results for the three and twelve months ended December 31, 2017 and provides a business update on its plans to transition its strategic focus to precision medicine and the Contract Research Organization (“CRO”) services sector.

As quoted in the press release:

“In late 2017 and early 2018 we made significant progress executing on our strategy to diversify our portfolio of products and solutions by entering the fast-growing precision medicine market,” commented Dr. Carl Schwartz, Chief Executive Officer of Precision Therapeutics. “The emergence of precision medicine is creating a paradigm shift away from generalized medical solutions that treat large numbers of patients with similar symptoms, toward therapies that take into account individual variability in genes, environment, and lifestyle for each person. Our new strategic focus is on applying artificial intelligence to personalized medicine and drug discovery. By working to provide solutions that improve precision medicine clinical trial outcomes, we are positioning the Company as a critical partner to the industry, thereby enabling its stakeholders to participate in the growth of this emerging field of healthcare.

Click here to read the full press release.