Tempus AI, Inc. - TEM STOCK NEWS

Tempus AI (NASDAQ: TEM), a leader in AI-driven precision medicine, is set to participate in the Morgan Stanley 22nd Annual Global Healthcare Conference on September 4, 2024, in New York. The company's Founder and CEO, Eric Lefkofsky, will engage in a fireside discussion at 8:30 a.m. ET during the event.

This participation highlights Tempus' commitment to advancing healthcare through technology and AI. The conference provides a platform for Tempus to showcase its innovations and discuss the future of precision medicine with industry leaders and investors.

BerGenBio ASA (OSE: BGBIO) reported solid clinical and financial progress in its Q2 2024 results. Key highlights include:

1. BGBC016 1L NSCLC STK11m study progressing well, with Ph1b enrollment completed and Ph2a sites activated.

2. Collaboration with Tempus AI (Nasdaq: TEM) to accelerate bemcentinib development using genomic AI.

3. Strengthened financial position with NOK 138.9 million from warrant exercise, funding secured into H2 2025.

4. Stable cash use with decreased operating expenses: NOK 90.5 million for H1 2024 vs NOK 120.2 million in H1 2023.

5. Focus on bemcentinib as a potential first-in-class selective AXL inhibitor for STK11 mutated NSCLC and severe respiratory infections.

Personalis (PSNL) and Tempus (TEM) have expanded their commercial collaboration, with Tempus investing $36 million in Personalis. This investment includes exercising warrants to purchase 9.2 million shares at an average price of $2.00 and buying an additional 3.5 million shares at $5.07 each. The expansion follows strong demand for their ultra-sensitive MRD testing in breast and lung cancers, as well as immunotherapy monitoring across solid tumors.

Key points of the expanded collaboration include:

• Tempus accelerating commercialization efforts over the first two years
• Personalis increasing the quantity of patient samples it will accept
• Tempus becoming the exclusive commercial partner for Personalis' MRD product
• Tempus owning approximately 19.3% of Personalis' outstanding common stock after the transaction

Tempus AI (NASDAQ: TEM) announced the publication of a validation study for its human leukocyte antigen (HLA) loss of heterozygosity (LOH) investigational assay in npj Precision Oncology. The study validates an investigational test that detects HLA-LOH using data from Tempus' FDA-approved xT CDx assay. The test employs a machine learning model to identify solid tumor patients with allele-specific LOH for specific HLA Class I alleles, potentially benefiting from targeted therapies.

The study demonstrated the test's accuracy in detecting HLA-LOH in clinical samples with ≥40% tumor cells. Collaborating with A2 Biotherapeutics, Tempus analyzed data from an observational clinical trial (NCT04981119), showing the feasibility of identifying and accruing HLA-LOH patients for prospective studies. In 2023, the FDA granted Breakthrough Device Designation for the HLA-LOH assay as a companion diagnostic test, although it's currently not available for clinical use.

Tempus AI, Inc. (NASDAQ: TEM) reported Q2 2024 financial results, showing strong growth and expansion. Key highlights include:

- Revenue increased 25% year-over-year to $166.0 million
- Data licensing revenue growth accelerated to 40% year-over-year
- Expanded into the minimal residual disease (MRD) market
- Established a joint venture with Softbank to enter the Japanese market
- Raised $410.7 million in gross proceeds from IPO
- Net Loss of ($552.2 million), largely due to stock compensation expenses
- Adjusted EBITDA improved to ($31.2 million)
- Full year 2024 revenue guidance of ~$700 million, representing ~32% annual growth

The company continues to make progress in deploying AI technology within healthcare, positioning itself as a leader in precision medicine and patient care.

Tempus AI (NASDAQ: TEM) has launched a new program under its Tempus Next platform to identify care gaps in guideline-directed IHC testing, starting with HER2. The program uses a new RNA-based algorithm integrated into Tempus' xR RNA sequencing assay to predict HER2 positivity in tumor samples. This AI-driven approach aims to surface patients more likely to benefit from confirmatory IHC testing, aligning with clinical guidelines for select metastatic cancers.

The program is being piloted at select sites, where Tempus will notify physicians of patients identified as potentially HER2 positive, enabling them to consider ordering confirmatory IHC tests. This initiative leverages Tempus' genomics, AI applications, and data capabilities to provide real-time, guideline-directed care recommendations to physicians, demonstrating the practical application of AI in improving clinical care as treatment options become more complex.

Tempus AI, Inc. (NASDAQ: TEM) has expanded its collaboration with Remix Therapeutics, a clinical-stage biotech company. This partnership now includes:

1. Licensing of de-identified data cohorts
2. Use of Tempus' Lens data analytics platform for studying Adenoid Cystic Carcinoma (ACC) and Acute Myeloid Leukemia (AML)
3. Next-generation sequencing support for Remix's Phase I trial of REM-422, an oral mRNA degrader
4. Utilization of Tempus' xT and xR assays for DNA and RNA data
5. Tracking treatment response using xM Monitor, Tempus' ctDNA assay

This expanded collaboration aims to accelerate Remix's research and development goals, particularly in advancing REM-422 into clinical trials.

GeneCentric Therapeutics has announced that the American Medical Association (AMA) has granted a Proprietary Laboratory Analysis (PLA) code for their PurIST pancreatic cancer test. This RNA expression-based test, licensed to Tempus AI (NASDAQ: TEM), is designed to inform and personalize treatment for pancreatic cancer patients.

The PurIST PLA code is the first Common Procedural Terminology (CPT) code created for algorithm-based analysis of previously sequenced RNA data from a laboratory developed test (LDT). This represents a significant step towards reimbursement for AI-enabled algorithms and supports the commercialization of PurIST.

The test classifies tumors of patients with unresectable stage III or stage IV pancreatic ductal adenocarcinoma (PDAC) as either basal or classical subtype, helping to guide first-line therapy in a cancer type with diagnostic options and high mortality rates.

Tempus AI, Inc. (NASDAQ: TEM), a leader in artificial intelligence and precision medicine, has announced its plans to report second quarter 2024 financial results on Tuesday, August 6, 2024. The company will hold an earnings conference call at 4:30 p.m. ET on the same day. The call will feature Tempus Founder and CEO, Eric Lefkofsky, and Chief Financial Officer, Jim Rogers.

Investors and interested parties can access the live audio webcast through the events page of Tempus' Investor Relations website. Alternatively, participants can join the call using the following details:

• Conference ID: 6326328
• Domestic Dial-in Number: (800) 715-9871
• International Dial-in Number: (646) 307-1963