Oncology Institute surges on AI-driven cancer research deal

Oncology Institute

09/06/2023 13:43

** Shares of cancer care provider Oncology Institute  TOI.O 
surge as much as 55% to $1 premarket
    ** Company says it has entered into a non-exclusive
partnership with privately-owned Massive Bio to advance
AI-driven clinical trial matching services
    ** Clinical trial matching services help identify trials
that patients might be eligible for by comparing patient
characteristics against the eligibility criteria of available
trials
    ** Massive Bio will use diagnostic information of patients
at TOI to provide clinical decision-support and clinical trial
matching services
    ** The deal combines advanced AI technology, personalized
cancer therapy and an extended network of research
collaborations, says TOI
    ** Up to last close, stock down ~60% YTD

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))