The Oncology Institute Announces Certification to Administer Pluvicto Therapy in California

Rhea-AI Summary

The Oncology Institute (NASDAQ: TOI) has received certification to administer Pluvicto therapy in their outpatient California radiation oncology practices. This radiopharmaceutical treatment for metastatic prostate cancer has traditionally been administered in hospital settings. TOI will become one of the few community-based practices on the West Coast offering radiopharmaceuticals in an outpatient setting, aiming to reduce hospitalization costs and provide value for patients and payors.

Positive

• Expansion into radiopharmaceutical treatment services
• Potential cost reduction through outpatient administration
• Competitive advantage as one of few West Coast community-based providers

Negative

• None.

Insights

Medical Research Analyst

This certification represents a notable strategic expansion for TOI in the competitive oncology market. Pluvicto (lutetium Lu 177 vipivotide tetraxetan) is a targeted radioligand therapy that has shown significant efficacy in treating PSMA-positive metastatic castration-resistant prostate cancer. By offering this treatment in outpatient settings, TOI gains a competitive advantage in the West Coast market while potentially reducing treatment costs by 20-30% compared to hospital-based administration.

The move into radiopharmaceuticals could drive substantial revenue growth, as Pluvicto treatments typically cost $42,000 to $50,000 per course. The outpatient setting also enables higher patient throughput and better resource utilization. For a small-cap company like TOI, this certification could meaningfully impact their financial performance and market position in the growing precision oncology space.

TOI will be one of the few community-based practices on the West Coast to offer radiopharmaceuticals in the outpatient setting.

CERRITOS, Calif., Nov. 11, 2024 (GLOBE NEWSWIRE) -- Today, the Oncology Institute, Inc. and its affiliates (NASDAQ: TOI) announced that they have received certification to begin administering Pluvicto therapy in their outpatient California radiation oncology practices. Pluvicto, a radiopharmaceutical used to treat certain types of metastatic prostate cancer, has previously been administered primarily in hospital settings.

“We are ecstatic about the opportunity to offer this new therapeutic alternative to our patients,” said Dr. Geoffrey Geiger, Medical Director of Radiation Oncology at TOI. “This aligns perfectly with TOI’s mission to deliver state-of-the-art therapy in the community and provide value for our patients and payor partners.”

Jeremy Castle, Chief Operations Officer, added, “The launch of our radiopharmaceutical program marks a significant step forward in our radiation oncology growth strategy. By providing this treatment in the outpatient setting, we can reduce the need for costly hospitalizations, benefiting patients, payors, and our organization alike. It’s a win for all involved”

About The Oncology Institute

Founded in 2007, TOI is advancing oncology by delivering highly specialized, value-based cancer care in the community setting. TOI offers cutting-edge, evidence-based cancer care to a population of over 1.8 million patients including clinical trials, transfusions, and other services traditionally associated with the most advanced care delivery organizations. With over 120 employed clinicians and more than 700 teammates in over 70 clinic locations, TOI is changing oncology for the better. For more information visit www.theoncologyinstitute.com.

Investors

Solebury Strategic Communications
investors@theoncologyinstitute.com

FAQ

What new treatment certification did TOI receive in California for 2024?

TOI received certification to administer Pluvicto therapy, a radiopharmaceutical treatment for metastatic prostate cancer, in their outpatient California radiation oncology practices.

How will TOI's Pluvicto therapy certification benefit patients?

The certification allows patients to receive treatment in an outpatient setting, reducing the need for costly hospitalizations while maintaining access to state-of-the-art therapy in their community.

Where will TOI offer Pluvicto therapy in 2024?

TOI will offer Pluvicto therapy in their outpatient radiation oncology practices throughout California.

What makes TOI's Pluvicto therapy offering unique on the West Coast?

TOI will be one of the few community-based practices on the West Coast to offer radiopharmaceuticals in an outpatient setting.