Tempus AI Shares Soared 14% After Deals With AstraZeneca, Pathos AI
Tempus AI shares were 14% higher, at $49.55, after the company said it has entered into multi-year strategic collaborations with AstraZeneca and Pathos AI.
The technology company said the companies will work together to build a multimodal foundation model in oncology which can be used to gather biological and clinical insights, discover novel drug targets and develop therapeutics for the broader oncology community.
The agreements include $200 million in data licensing and model development fees to Tempus.
Tempus said its de-identified oncology data will be used to build the foundation model. Upon completion, the model will be shared among all three parties to advance their individual efforts to improve patient care.
Tempus stock hit its 52-week high of $91.45 on Feb. 14, and are up 47% year-to-date.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Most Discussed
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10