** Shares of genetics testing firm Tempus AI TEM.O up 16.8% to $50.40, nearly one-mth high, on Weds after announcing multi-year collaborations with British drugmaker AstraZeneca AZN.L and Pathos AI
** Chicago, Illinois-based co early Weds said will work together to build multimodal foundation model in oncology which can be used to gather biological and clinical insights, discover novel drug targets, develop therapeutics for broader oncology community
** Agreements include $200 mln in data licensing and model development fees to Tempus, co said
** The agreement with AstraZeneca expands on strategic partnership announced in 2021
** With move on the session, TEM shares up ~50% YTD. Stock hit intraday record high of $91.45 on Feb 14
** Tempus, backed by Japan's SoftBank 9984.T, went public last Jun in IPO priced at $37
** Of 12 analysts covering TEM, recommendation breakdown is 6 "strong buy" or "buy", rest "hold" and the median PT is $62, LSEG data shows
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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