Recent Updates — DFPH

Starling Oncology reported third-quarter 2026 consolidated revenue of $169.8 million, a 24.3% increase from the prior year period. The company posted an adjusted EBITDA of positive $3.4 million, marking its second consecutive quarter of profitability on this metric and beating management's outlook range of $0.5 million to $1.5 million. Net loss narrowed to $15.7 million compared to $16.5 million in the prior year, while gross profit rose 62.1% to $30.7 million. Specialty pharmacy revenue surged 44% year over year to $109 million with a 24 percent gross margin, and capitated revenue grew 40%. The company affirmed its full-year 2026 guidance for adjusted EBITDA of $4 million to $6 million and raised the lower end of its revenue outlook to $650 million. Starling Oncology operates as a value-based community oncology group delivering specialized cancer care across multiple states.

Starling Oncology reported second quarter 2026 financial results, posting consolidated revenue of $161.3 million, a 34.6% increase from the prior year period. Gross profit rose 55.2% to $27.2 million, while net loss narrowed to $9.8 million compared to $17.0 million previously. Adjusted EBITDA turned positive at $229 thousand, up from a $4.1 million loss. The company raised its full-year 2026 revenue guidance to $650–$670 million and adjusted EBITDA guidance to $2–$7 million. Operational highlights include record specialty pharmacy fills driving a 58% year-over-year revenue increase in that segment, the addition of approximately 230,000 capitated lives through an exclusivity agreement in California, and new delegated contracts in Nevada and Oregon. Starling Oncology operates as a value-based community oncology group providing specialized cancer care.

The Oncology Institute, Inc. entered into a $75 million term loan agreement with Orbimed Opportunities (CA) V LLC, which was drawn in full on July 1, 2026. The company used the proceeds to fully repay $86 million in 4% senior secured convertible notes due 2027. Additionally, the company issued 10,025,535 warrants to Deerfield Partners, L.P. to purchase common stock at an exercise price of $8.567 per share. The Oncology Institute, Inc. operates in the healthcare sector, providing oncology-related medical services.