On May 6, 2025 Tempus AI, Inc. (NASDAQ: TEM), a technology company leading the adoption of AI to advance precision medicine and patient care, reported financial results for the quarter ended March 31, 2025 (Press release, Tempus, MAY 6, 2025, View Source [SID1234652612]).

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Revenue increased 75.4% year-over-year to $255.7 million in the first quarter of 2025
Quarterly gross profit increased 99.8% year-over-year, reaching $155.2 million with continued gross margin improvement in both Genomics and Data and services
Announced multi-year, strategic collaborations with AstraZeneca and Pathos to work together to build the largest multimodal foundation model in oncology, resulting in additional $200.0 million in data licensing and model development fees over the next 3 years
Increasing full year 2025 revenue guidance to $1.25 billion, representing approximately 80% growth year-over-year. Expect positive Adjusted EBITDA of $5 million for full year 2025, increasing approximately $110 million over 2024
"The business is performing well with revenues growing, margins improving, and our costs remaining in check, allowing us to demonstrate significant year-over-year operating leverage," said Eric Lefkofsky, Founder and CEO of Tempus. "Our strategic investments in AI have us uniquely positioned to advance what is possible in diagnostics and drug development, as evidenced by our announcement to build the largest foundation model in oncology with AstraZeneca and Pathos. We believe this is just the beginning as more and more healthcare providers and life science companies embrace AI."

First Quarter Summary Results

Quarterly revenue increased 75.4% year-over-year to $255.7 million in the first quarter of 2025.
Genomics contributed $193.8 million in revenue in the first quarter of 2025, growing 88.9% compared to the first quarter of 2024.
Oncology testing (legacy Tempus clinical) revenue delivered $119.0 million, up 31.0% year-over-year in the first quarter of 2025, with approximately 20% volume growth.
Hereditary testing (legacy Ambry Genetics) contributed $63.5 million in revenue in the first quarter, with approximately 23% unit growth.
Revenue from Data and services totaled $61.9 million in the first quarter of 2025, delivering 43.2% growth versus the first quarter of 2024, led by Insights (data licensing), which grew 58.0% year-over-year.
Generated $155.2 million in quarterly gross profit, reflecting a 99.8% improvement year-over-year.
Reported a net loss of ($68.0 million) in the first quarter of 2025, including $28.2 million in stock compensation expense and related employer payroll taxes and fair value losses of $31.8 million related to our marketable equity securities, compared to a net loss of ($64.7 million) in the first quarter of 2024.
Adjusted EBITDA of ($16.2 million) in the first quarter of 2025 compared to ($43.9 million) in the first quarter of 2024, an improvement of $27.8 million year-over-year.
First Quarter and Recent Operational Highlights

Announced multi-year, strategic collaborations with AstraZeneca and Pathos to work together to build a multimodal foundation model in oncology, which include $200.0 million in additional data licensing and model development fees to Tempus over the next 3 years.
Completed the acquisition of Ambry Genetics on February 3, 2025.
Disclosed a collaboration with Illumina combining its AI technologies with Tempus’ comprehensive multimodal data platform to train genomic algorithms and accelerate clinical adoption of molecular testing.
Reported the acquisition of Deep 6 AI, broadening Tempus’s reach and enhancing applications like Next and TIME.
Launched olivia, an AI-enabled personal health concierge app for patients nationally.
Nationally launched xT CDx with ADLT pricing established at $4,500 per test.
First Quarter Financial Results

Three Months Ended March 31,

2025

2024

Change

(in thousands, except percentages and per share amounts)

(unaudited)

Revenue

$

255,737

$

145,820

75.4

%

Gross profit

$

155,203

$

77,697

99.8

%

Loss from operations

$

(68,689

)

$

(53,274

)

NM(1)

Non-GAAP loss from operations

$

(25,777

)

$

(53,274

)

51.6

%

Net loss

$

(68,037

)

$

(64,743

)

NM(1)

Adjusted EBITDA

$

(16,174

)

$

(43,926

)

63.2

%

Net loss per share attributable to common shareholders, basic and diluted

$

(0.40

)

$

(1.47

)

72.8

%

Non-GAAP net loss per share

$

(0.24

)

$

(1.03

)

76.3

%

____________
(1)

Not meaningful due to the impact of including stock compensation expense and related employer payroll taxes

Financial Outlook and Guidance

Tempus now expects full year 2025 revenue of approximately $1.25 billion for the consolidated Tempus and Ambry Genetics business, which represents approximately 80% annual growth, and Adjusted EBITDA of $5 million for full year 2025, an improvement of approximately $110 million over 2024.

For additional information on the quarter, including a letter from our CEO and CFO, please visit our investors relations site at investors.tempus.com.

Webcast and Conference Call Information

A conference call and webcast will begin today, May 6, 2025 after market close at 4:30 p.m. Eastern Time. Interested parties may access details at:

Conference ID: 4680302
Domestic Dial-in Number: (888) 672-2415
International Dial-in Number: (646) 307-1952
Live webcast: View Source

The webcast may be accessed on the company’s investor relations website at investors.tempus.com. For those unable to listen to the live webcast, a recording will be made available on the company’s website after the event and will be accessible for one year. Visit the investor relations website to find the company’s latest deck, and commentary on the quarter by Eric Lefkofsky, Founder and CEO and Jim Rogers, CFO, which will be discussed on the conference call and webcast.

On May 6, 2025 TFS HealthScience (TFS), a leading global Contract Research Organization (CRO), reported that it is deepening its collaboration with Oncomatryx, a biopharmaceutical company developing novel antibody-drug conjugates (ADCs) targeting the tumor microenvironment (Press release, Oncomatryx, MAY 6, 2025, View Source [SID1234652611]). TFS will support a newly initiated Phase Ib clinical trial evaluating OMTX705—an anti-fibroblast activation protein antibody-drug conjugate (FAP-ADC)— in patients with advanced or metastatic pancreatic adenocarcinoma. The trial will be conducted across sites in Spain and the United States.

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According to the World Cancer Research Foundation, pancreatic cancer remains one of the deadliest malignancies globally, accounting for more than 510,000 new cases and over 466,000 deaths annually. Despite advances in oncology, treatment options for patients with advanced or metastatic disease remain limited. The five-year survival rate for pancreatic cancer continues to hover below 10%, underscoring the urgent need for new and more effective treatment options.

This Phase Ib study builds on an earlier collaboration between TFS and Oncomatryx during a Phase I trial evaluating OMTX705 as a monotherapy and in combination with pembrolizumab in patients with advanced solid tumors. The promising results from that study laid the foundation for this next phase of development and exemplified the consistent performance, deep therapeutic expertise, and oncology specialization that Oncomatryx values in its continued partnership with TFS.

"Our continued collaboration with Oncomatryx reflects a shared commitment to accelerating the development of innovative therapies for challenging cancers like pancreatic adenocarcinoma," said Kris O’Brien, Vice President and Head of Oncology & Rare Diseases at TFS. "TFS brings deep therapeutic insight and operational agility to every program we support—helping to move promising science forward where it’s needed most."

"We’re entering an exciting new phase in the clinical development of OMTX705," said Laureano Simón, CEO of Oncomatryx. TFS has proven to be a trusted, expert partner—key to advancing our science toward patients who urgently need new options."

TFS brings over two decades of experience in oncology research, supporting clinical trials across solid tumors, hematological malignancies, and rare cancers. With a focus on agility, scientific rigor, and global reach, TFS has successfully guided numerous early-phase and late-phase oncology programs from concept to clinic. Through its long-standing partnerships, including this renewed collaboration with Oncomatryx, TFS continues to empower its partners with tailored clinical solutions—advancing science with the ultimate goal of enriching the lives of patients worldwide.

Backed by strong financial support following a €25 million fundraising round completed at the end of 2024, and with Phase I clinical data expected at major oncology conferences throughout 2025, the OMTX705 program is gaining momentum and drawing increased attention as a promising new approach for hard-to-treat tumors like pancreatic adenocarcinoma.

On May 6, 2025 Andelyn Biosciences, Inc., a leading and patient-focused cell and gene therapy Contract Development and Manufacturing Organization (CDMO), reported it has manufactured viral vector with its AAV Curator Platform for Nationwide Children’s Hospital’s Cellular Therapy and Cancer Immunology Program (Press release, Nationwide Children’s Hospital, MAY 6, 2025, View Source [SID1234652610]). The Adeno-Associated Virus (AAV) will be utilized in a novel cell therapy for Universal-Donor CD38KO CD33CAR-NK cells, to be studied in a forthcoming clinical trial. The Phase 1 trial will study the safety of the novel therapy in patients with advanced, high-risk acute myeloid leukemia (AML).

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Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

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Within the field of cell therapy, there is a consistent need from researchers to manufacture cGMP virus to support the advancements of these critical therapies. While many AAV manufacturing platforms are specifically designed to be scaled to support large scale indications, Andelyn’s AAV Curator Platform utilizes Optimization-by-Design to be correctly sized for scale and speed to the clinic. The well-established platform allows for the ability to support the exacting viral vector manufacturing needs of the NCH NK cells created on the hospital’s patented universal-donor NK cell platform.

Matt Niloff, Chief Commercial Officer at Andelyn said, "We are excited to be playing a key role in this very promising Universal Donor CD38KO CD33CAR-NK cell therapy technology by NCH. We look forward to the clinical trial and ushering in a new era for patients with AML and other blood cancers."

Andelyn is enabling the progression of life-altering cell and gene therapies for both rare and prevalent diseases with the highest quality standards and scalable end-to-end development and manufacturing capabilities at its Columbus, Ohio facilities.

On May 6, 2025 Intensity Therapeutics, Inc. (Nasdaq: INTS), ("Intensity" or "the Company") a late-stage clinical biotechnology company focused on the discovery and development of proprietary, novel immune-based intratumoral cancer therapies designed to kill tumors and increase immune system recognition of cancers, and The Swiss Group for Clinical Cancer Research SAKK ("SAKK"), a decentralized academic research institute that has been conducting clinical trials of cancer treatments in all major Swiss hospitals since 1965, reported that the European Medicines Agency ("EMA") has authorized the initiation of the INVINCIBLE-4 (SAKK 66/22) ("INVINCIBLE-4 Study") (NCT06358573) in France in collaboration with Unicancer (Press release, Intensity Therapeutics, MAY 6, 2025, View Source [SID1234652609]).

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The INVINCIBLE-4 Study is a randomized open-label, multicenter study to determine the clinical activity, safety, and tolerability of INT230-6 in patients with early-stage, operable triple-negative breast cancer ("TNBC") who undergo standard of care neoadjuvant immunochemotherapy ("SOC") treatment and SOC alone. The primary endpoint is pathological complete response ("pCR") in the primary tumor and affected lymph nodes. Patients will be randomized one-to-one to receive a regimen of either two doses of INT230-6 followed by SOC, which consists of pembrolizumab, anthracyclines, carboplatin, cyclophosphamide, and paclitaxel (i.e., the Keynote-522 regimen), or the SOC alone. The study is already recruiting patients in Switzerland and is expected to enroll 54 patients.

"We are encouraged to see high levels of tumor necrosis from the MRI scans and evidence of tumor inflammation after two INT230-6 injections and prior to initiation of the SOC in our first patients," said Ursina Zürrer, M.D. Chief Physician for Genetic Counseling, Department of Medical Oncology and Hematology Cantonal Hospital Winterthur, Switzerland, and the Coordinating Investigator for the INVINCIBLE-4 Study. "If the immunological cancer cell death and the ignition of an anti-cancer immune response without increased toxicity in patients receiving INT230-6 shows a meaningful increase in pCR, it would be a major advance for the neoadjuvant treatment of breast cancer and potentially other cancers."

"The acceptance of the INVINCIBLE-4 by the EMA and our expansion of the trial into France is expected to increase our enrollment rate starting in the second quarter of 2025. We should almost double the number of sites actively screening patients. We are excited to work with Unicancer, a group accredited by the French National Cancer Institute with centers of academic excellence and strong operational capability throughout France." Said Lewis H. Bender, President and CEO of Intensity Therapeutics."

About INT230-6
INT230-6, Intensity’s lead proprietary investigational product candidate, is designed for direct intratumoral injection. INT230-6 was discovered using Intensity’s proprietary DfuseRx℠ technology platform. The drug is comprised of two proven, potent anti-cancer agents, cisplatin and vinblastine sulfate, and a diffusion and cell penetration enhancer molecule (SHAO) that helps disperse potent cytotoxic drugs throughout tumors for diffusion into cancer cells. These agents remain in the tumor, resulting in a favorable safety profile. In addition to local disease control and direct tumor killing, INT230-6 causes a release of a bolus of neoantigens specific to the malignancy, leading to immune system engagement and systemic anti-tumor effects. Importantly, these effects are mediated without immunosuppression, which often occurs with systemic chemotherapy.

About Triple Negative Breast Cancer in the Presurgical Setting
Women with aggressive forms of breast cancer, such as TNBC, are often counseled to undergo pre-surgical (neoadjuvant) systemic therapy in advance to reduce the risk of the disease returning. Having a pathological complete response, meaning the absence of live cancer at the time of surgery, has been shown to result in a lower risk of recurrence. Approximately 11-17% of breast cancers test negative for estrogen receptors (ER), progesterone receptors (PR), and overexpression of human epidermal growth factor receptor 2 (HER2) protein, qualifying them as triple negative. There are approximately 56,000 new cases of TNBC in the US and 420,000 Worldwide diagnosed each year, the majority of which are local to the breast. TNBC is considered to be more aggressive and has a poorer prognosis than other types of breast cancer, because there are fewer available targeted medicines. Most patients with local TNBC typically receive immune/chemotherapy before surgery. Since the publication of Keynote-522, the standard neoadjuvant treatment for TNBC includes systemic chemotherapy (anthracyclines, cyclophosphamide, paclitaxel, carboplatin) and the anti-PD-1 monoclonal antibody pembrolizumab. pCR rates are 65%, with rates generally lower in the larger-sized tumors or with lymph node metastasis. The toxicity of the Keynote-522 regimen is high, with 80% of patients experiencing grade 3 or higher treatment-related AEs, including treatment-related adverse events that lead to death in 0.5% of patients.

On May 6, 2025 Viralgen, a leading contract development and manufacturing organization (CDMO) specializing in recombinant adeno-associated virus (rAAV) gene therapies, reported to have established a strategic collaboration with Trogenix, a pioneering biotech company dedicated to developing innovative cancer therapies (Press release, Trogenix, MAY 6, 2025, View Source [SID1234652608]). As part of this partnership, Viralgen successfully scaled-up and completed in under 12 months a good manufacturing practice (GMP) clinical trial material batch of Trogenix’s rAAV gene therapy, TGX-007, accelerating the program’s progression toward first-in-human (FIH) clinical trials for glioblastoma, one of the most aggressive and treatment-resistant forms of brain cancer.

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Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

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Beyond manufacturing, Viralgen has developed a gene-specific titration method and a custom specific formulation buffer to serve as a diluent for the drug product’s administration. These efforts will support the advancement of Trogenix’s gene therapy.

"Our expertise in rAAV vector manufacturing and ability to scale allows us to support and accelerate critical clinical therapeutic programs" said Jimmy Vanhove, CEO of Viralgen. "We are thrilled to contribute to Trogenix’s pioneering approach in oncology gene therapy, which has potential for curative responses in glioblastoma and other cancers," stated Vanhove.

Trogenix’s proprietary Synthetic Super-Enhancers (SSEs) platform, Odysseus, is designed to develop precision genetic medicines targeting the disease cell state. Following the successful manufacturing of the first GMP batch of Trogenix’s rAAV vector at Viralgen’s state-of-the-art facility, TGX-007 is now advancing toward clinical evaluation, and, ultimately, to patients in need.

"Glioblastoma, the most common form of brain cancer, is a devastating disease with very poor prognosis and few treatment options for patients. At Trogenix, our aim is to transform cancer treatment from chronic disease management to a potentially curative one-time treatment," said Ken Macnamara, PhD, CEO of Trogenix. "By collaborating with Viralgen, we can rapidly scale product supply and bring the therapy to patients as quickly as possible."

This collaboration underscores Viralgen’s commitment to accelerating the development of innovative AAV-based therapies by providing scalable, high-quality manufacturing solutions that help bring treatments to patients faster.