Shares of Tempus AI (NASDAQ: TEM) skyrocketed 6.65% in Monday's trading session, fueled by the company's announcement of its first whole-genome sequencing test, xH, aimed at advancing personalized cancer treatment and precision medicine.
The Chicago-based AI healthcare technology firm revealed that xH, which is currently available for research use only, will facilitate comprehensive genomic profiling and detection of clinically-relevant variants across hematological cancers like leukemia and lymphoma. With plans for clinical availability within the next year, the test marks Tempus AI's foray into whole-genome sequencing, a platform with the potential to consolidate multiple tests into a single assay and enhance personalized therapy decisions.
In a pilot study, the xH assay demonstrated high sensitivity and concordance with traditional molecular methods, bolstering its promise as a cost-effective, comprehensive tool for genomic profiling in blood cancers. However, despite the promising growth prospects, a Bank of America Securities analyst report maintained a "Hold" rating on Tempus AI, citing a need to balance the company's potential with current performance shortfalls.
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