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The Oncology Institute of Hope and Innovation is a premier cancer treatment center in Los Angeles, offering comprehensive programs to support patients and families dealing with cancer. Their dedicated team provides personalized treatment plans and services across 8 locations in Southern California.
The Oncology Institute Inc focuses on cancer prevention, diagnosis, treatment, research, and education. Services include infusion centers, in-house dispensary, outpatient transfusions, stem cell transplants, financial counseling, clinical trials, lab testing, and end-of-life support. The company operates in three segments: dispensary, patient services, and clinical trials.
The Oncology Institute, Inc. (NASDAQ: TOI) has announced the successful enrollment of two patients in a Phase 3 clinical trial (BRUIN-CLL-314) comparing Pirtobrutinib (LOXO-305) to Ibrutinib for treating Chronic Lymphocytic Leukemia. Pirtobrutinib targets the Bruton Tyrosine Kinase with a reversible binding mechanism, potentially providing better efficacy and fewer side effects than Ibrutinib, which has been on the market since 2013. The trial is sponsored by Eli Lilly and aims to enhance treatment options for patients with recurring CLL.
The Oncology Institute, Inc. (NASDAQ: TOI) announced the addition of Mark Pacala and Gabe Ling to its Board of Directors, expanding the board to nine members. This strategic move aims to strengthen the company as it grows in the oncology sector, leveraging their deep healthcare management and investment expertise. Pacala brings over 30 years of experience in healthcare, including leadership roles at major companies, while Ling co-founded M33 Growth, focusing on emerging technology and healthcare investments. Their insights are expected to guide TOI's pursuit of its strategic objectives.
CERRITOS, Calif., Sept. 15, 2022 - The Oncology Institute, Inc. (NASDAQ: TOI) announced that its CEO, Brad Hively, will join the panel on 'Next Frontier - Value Based Care for Sub-Capitation/Specialties' at the Nephron 2nd Annual Physician Enablement Symposium on September 22 at 9:00 am EST. Founded in 2007, TOI is one of the largest value-based oncology groups in the U.S., serving around 1.7 million patients through over 50 clinic locations, employing more than 90 clinicians.
The Oncology Institute (NASDAQ: TOI) has achieved Patient Safety Organization (PSO) accreditation from the Agency for Healthcare Research and Quality. This new entity aims to enhance patient safety and care quality by analyzing safety data and providing guidance and training to clinicians. Dr. Yale Podnos, the Chief Medical Officer, emphasized that this certification underscores their commitment to patient care. Currently, only 100 PSOs exist in the U.S., with TOI obtaining a three-year listing effective August 25, 2022. This accreditation is expected to bolster the organization’s healthcare services.
The Oncology Institute (NASDAQ: TOI) partners with Blue Note Therapeutics to enhance mental health support for cancer patients. The digital therapeutic attune™ addresses anxiety and depression specifically related to cancer treatments, available via prescription to eligible TOI patients. This partnership aims to improve patient access to psychological resources, targeting the 85% of U.S. cancer patients treated in community settings. The initiative aligns with TOI's commitment to value-based care, emphasizing comprehensive support throughout patients' cancer journeys.
The Oncology Institute (NASDAQ: TOI) will host a Fireside Chat featuring CEO Brad Hively and CFO Mihir Shah during the Baird Newly Public Company Virtual Access Day on August 17, 2022, at 2:20 PM EST. Interested investors can access the live webcast through the Investor Relations section of the company’s website. The Oncology Institute focuses on advancing value-based community oncology, serving around 1.7 million patients with over 90 clinicians across 50+ locations. For further information, visit theoncologyinstitute.com.
The Oncology Institute (NASDAQ: TOI) reported a strong second quarter for 2022, with revenue at $61 million, up 22.2% year-over-year. Despite this growth, the company faced a net loss of $5 million compared to a net income of $3 million in the previous year. They completed a $110 million investment from Deerfield Management, aimed at supporting expansion. The company maintains its 2022 guidance, projecting revenue between $270 million and $310 million and an adjusted EBITDA loss of $20 to $25 million. Overall, TOI continues its growth trajectory with a focus on value-based oncology.
The Oncology Institute (NASDAQ: TOI) announced a $110 million investment from Deerfield Management Company to accelerate its growth in the oncology market. The investment will involve issuing 4% secured senior convertible notes, maturing on August 9, 2027, which can be converted into approximately 12.84 million shares of common stock at an initial price of $8.567. This capital will expand TOI's patient access to high-quality, value-based care. The net proceeds are estimated at $106 million, aimed at funding acquisitions and general corporate purposes.
The Oncology Institute, Inc. (NASDAQ: TOI) has announced the acquisition of Dr. Nutan Parikh's practice in Las Vegas, enhancing its presence in the Nevada market. This partnership promises to expand access to value-based oncology care for local patients, supported by Dr. Parikh's established trust and experience. Patients will benefit from access to over 170 clinical trials, physician dispensary services, and community-based chemotherapy treatments. The integration of Dr. Parikh’s locations is aimed at improving patient care and accessibility in the greater Las Vegas area.
The Oncology Institute (TOI) will announce its second-quarter results on August 9, 2022, after market close. A conference call will follow at 5:00 p.m. ET, providing insights into its performance and business strategies. Investors can access the call by phone or listen via a live webcast on TOI's Investor Relations website. Established in 2007, TOI specializes in value-based cancer care, serving over 1.5 million patients across more than 50 locations with advanced oncology services and a team of 80+ clinicians.
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