The Oncology Institute Inc Stock Price, News & Analysis

The Oncology Institute (NASDAQ: TOI) has announced key financial developments, including an amendment to its facility agreement with Deerfield Management Company and a partial debt reduction. The amendment removes the $40 million minimum cash covenant and lifts restrictions on equity offerings. TOI has paid down approximately $20 million of senior secured convertible notes and related interest.

The company has also reported significant progress in its growth initiatives, having secured three new capitation agreements in 2025, adding roughly 80,000 lives across California, Nevada, and Florida markets. Notably, Florida operations now manage over 200,000 lives under value-based agreements, including more than 50,000 under Medicare Advantage.

Florida Blue, Florida's leading health insurer, has launched a new comprehensive oncology care model for its myBlue members, partnering with Sanitas Medical Centers and The Oncology Institute (TOI). The program aims to provide faster access to high-quality cancer care through TOI's 14 locations in Central and South Florida, working alongside Sanitas's 60 medical centers.

The initiative features personalized treatment plans and seamless coordination between primary care physicians and oncologists. TOI oncology teams will collaborate with Sanitas primary care providers to support patients' overall health and mental well-being. The program is currently available in select areas across Florida with potential for expansion.

myBlue members can access this program through Florida Blue's HMO plan, with enrollment open until January 15 through the Marketplace or anytime for those qualifying for special enrollment.

The Oncology Institute (NASDAQ: TOI) reported Q3 2024 financial results with consolidated revenue of $99.9 million, up 21.8% year-over-year. The company saw a 79.9% increase in Dispensary segment revenue and signed 3 new capitation contracts across 2 states. Despite revenue growth, gross profit decreased 10.1% to $14.4 million, with margin falling to 14.4%. Net loss improved to $16.1 million from $17.4 million in Q3 2023. The company achieved a 6% reduction in SG&A expenses and expanded operations with first two clinics in Oregon. Cash position stood at $47.4 million as of September 30, 2024.

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.

The Oncology Institute (NASDAQ: TOI) announced it will release its Q3 2024 financial results after market close on November 13, 2024, followed by a conference call at 5:00 p.m. Eastern Time. Investors can access the call by dialing 1-877-407-0789 (US) or 1-201-689-8562 (international). A replay will be available until November 20, 2024, accessible via 1-844-512-2921 (US) or 1-412-317-6671 (international) using passcode 13749308. A simultaneous webcast will be available on TOI's Investor Relations website.

The Oncology Institute (TOI) has joined Lantern's specialty care platform, expanding access to cancer care for Lantern members across TOI's community clinics in 5 states. The partnership aims to provide advanced cancer treatment while reducing financial burden for patients. TOI, with over 120 clinicians and 700 team members across 70+ clinic locations, serves a population of over 1.8 million patients. The collaboration focuses on delivering optimal outcomes and patient satisfaction through value-based oncology care, including clinical trials and transfusion services.

The Oncology Institute (NASDAQ: TOI) and the American Journal of Managed Care® (AJMC) are partnering to co-host a symposium on value-based cancer care on October 24, 2024, in Miami, Florida. The event is part of AJMC's Institute for Value-Based Medicine (IVBM), a leading forum for expert insights on implementing value-based care in oncology and population health.

The symposium will feature panel discussions with healthcare professionals, including physicians, practice administrators, and payors, focusing on key learnings and emerging opportunities. Dr. Daniel Virnich, CEO of The Oncology Institute, will chair the event. Other TOI executives moderating panels include Dr. Yale Podnos (CMO), Jordan McInerney (CDO), and Ray Parzik (VP).

The Oncology Institute (TOI), a leading value-based oncology group, has expanded into Oregon with the opening of two new specialty cancer clinics in Portland and Salem. This marks TOI's first capitated partnership in the market, with plans for further expansion across the state. The new clinics will offer cutting-edge cancer care services, providing a vital option for patients in the Pacific Northwest.

Dr. Dan Virnich, CEO of TOI, emphasized the company's commitment to providing advanced care in local communities, focusing on optimal outcomes, patient satisfaction, and minimizing financial burdens. Dr. Patan Gultawatvichai, Medical Director of TOI in Oregon, highlighted the company's dedication to redefining oncology care through value-based models.

TOI, founded in 2007, serves over 1.8 million patients across more than 70 clinic locations with over 120 employed clinicians and 700 team members. The company offers advanced services including clinical trials and transfusions, aiming to change oncology for the better.

The Oncology Institute (NASDAQ: TOI) has announced a CFO transition. Mihir Shah, the current CFO, will leave the organization on October 14, 2024. Rob Carter, Senior Vice President of Finance, will be promoted to Chief Financial Officer. Carter, who joined TOI in 2021, brings over a decade of finance leadership experience from notable healthcare institutions.

CEO Dr. Daniel Virnich expressed excitement about Carter's promotion, citing his experience in oncology and large health systems. Virnich also thanked Shah for his contributions, including leading TOI through its early years as a public company and improving capabilities in reporting, compliance, and analytics.

Carter stated his honor in becoming TOI's next CFO and his belief in the company's future growth and innovation. TOI, founded in 2007, delivers specialized, value-based cancer care in community settings, serving over 1.8 million patients with 126 employed clinicians and more than 700 teammates across 70+ clinic locations.