Oncology Institute, Inc.

Starling Oncology, Inc. (TOI) has filed an updated investor presentation to be used in investor meetings. The presentation supersedes a prior version and includes forward-looking statements and non-GAAP financial measures. The company also reported its 3Q26 results, showing total revenue of $170M, a 24% year-over-year increase, with specialty pharmacy revenue growing 44% YoY to $109M and a gross margin of 24%. Adjusted EBITDA for the quarter was $3.4M, marking the second consecutive quarter of positive results.

Starling Oncology, Inc. (formerly The Oncology Institute, Inc.) reported its third-quarter financial results for 2026. Total operating revenue saw a significant increase of 24.3% year-over-year, reaching $169.8 million, primarily driven by a 44.1% surge in Specialty Pharmacy revenue to $109.3 million. Despite the revenue growth, the company reported a net loss of $15.7 million for the quarter, a slight improvement from $16.5 million in the prior year's quarter. The net loss per diluted share was $0.13, down from $0.14 in Q3 2025. Total assets grew to $187.8 million, while total liabilities increased to $225.1 million. Cash and cash equivalents stood at $36.9 million.

Starling Oncology, Inc. reported its third quarter 2026 financial results, showing a 24.3% increase in consolidated revenue to $169.8 million and a 62.1% rise in gross profit to $30.7 million. The company narrowed its net loss to $15.7 million and achieved positive Adjusted EBITDA of $3.4 million, a significant improvement from the prior year's loss. Key growth drivers included a 44% year-over-year increase in Specialty Pharmacy revenue and a 40% rise in capitated revenue. The company affirmed its full-year 2026 guidance for revenue and Adjusted EBITDA.

On September 1, 2026, Brad Hively informed Starling Oncology, Inc. of his decision not to stand for re-election to the Board of Directors at the 2027 annual meeting. He will continue to serve as a director until the meeting but has stepped down immediately as Vice Chairman and from all Board committees, including the Compliance Committee. The company stated that Hively's decision is not due to any disagreements regarding company operations, policies, or practices.

Starling Oncology, Inc., formerly The Oncology Institute, Inc., reported strong financial improvements for the second quarter and first half of 2026. Total operating revenue for the six months ended June 30, 2026, increased by 37.7% to $308.7 million, driven significantly by its Specialty Pharmacy segment. The company also substantially narrowed its net loss to $12.3 million from $36.6 million in the prior year period, and generated positive cash flow from operations.

Starling Oncology reported strong financial results for the second quarter of 2026, with consolidated revenue increasing 34.6% to $161.3 million and Adjusted EBITDA turning positive at $229 thousand. The company significantly improved its net loss to $(9.8) million from $(17.0) million year-over-year. Driven by this momentum and key operational highlights such as record Specialty Pharmacy revenue growth and new strategic partnerships, Starling Oncology raised its full-year 2026 guidance for revenue, gross profit, and Adjusted EBITDA.

The Oncology Institute, Inc. has rebranded to Starling Oncology, Inc., effective August 3, 2026. Its common stock will begin trading under the new Nasdaq ticker symbol "STLN" on August 4, 2026, replacing "TOI." CEO Dan Virnich stated the rebrand reflects the company's growth, profitability, and evolution into an integrated oncology platform, emphasizing its commitment to high-quality, value-based cancer care without disruption to patients.

The Oncology Institute secured a new $75 million term loan facility from OrbiMed, maturing in 2031, to refinance its existing debt. The proceeds, along with $11 million cash on hand, were used to repay the outstanding $86 million 4% senior secured convertible notes due 2027 held by Deerfield Partners. As part of the repayment, the company issued warrants to Deerfield for 10,025,535 shares at an exercise price of $8.567. This strategic refinancing aims to strengthen the balance sheet, improve liquidity, and extend debt maturities without diluting existing shareholders.

The Oncology Institute, Inc. announced it has repaid its $86 million senior secured convertible note with Deerfield Partners through a debt refinancing. This transaction includes new credit facilities from OrbiMed, featuring a new $75 million term loan maturing in 2031. The company also utilized approximately $11 million in cash from its balance sheet to complete the repayment, aiming to increase liquidity, improve operating flexibility, and extend debt maturities without diluting existing shareholders.

The Oncology Institute, Inc. announced that its Chief Medical Officer, Dr. Yale D. Podnos, will participate in a panel discussion at the APG Spring Conference on May 28, 2026. The session, titled "Engaging More Specialists in Value-Based Care," will focus on the critical role of specialists in delivering high-quality, coordinated care, improving outcomes, and reducing costs within value-based models. Dr. Podnos will share insights on oncology's contribution to advancing value-based care delivery.