TOI - The Oncology Institute gains 42% on pact for AI-led cancer research

2023-06-09 08:48:51 ET

The Oncology Institute ( NASDAQ: TOI ), a provider of clinical trial services, added ~42% pre-market Friday after announcing a collaboration with Massive Bio, an AI-driven oncology platform.

Per the terms of the deal, Massive Bio will join hands with The Oncology Institute ( TOI ) to leverage their business model driven by AI and precision medicine to evaluate eligible patients for TOI's clinical trial portfolio.

The agreement will enable physicians at TOI to obtain clinical decision-support and clinical trial matching services based on advanced algorithms and comprehensive diagnostic data.

"With our forces joined, more patients will be able to access the most advanced precision medicine available, revolutionizing cancer care," Cristina Green, TOI's Vice President of Clinical Research, said.

More on TOI

• The Oncology Institute beats consensus with Q1 revenue
• The Oncology Institute reports Q4 results, provides FY 2023 revenue guidance

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