Bullish indicating open at $55-$60, IPO prices at $37
The Oncology Institute, Inc. has successfully regained compliance with Nasdaq's minimum bid price requirement, as confirmed by a notice from the stock market's Listing Qualifications Staff on Monday. The healthcare company's common stock, currently trading at $1.69, maintained a closing bid price of at least $1.00 for 12 consecutive business days, from March 24, 2025, through April 8, 2025. According to InvestingPro analysis, the stock appears slightly undervalued based on its Fair Value calculations.
This achievement follows a period of concern that began on June 20, 2024, when Nasdaq first notified the company of its non-compliance due to the stock price falling below the $1.00 threshold for 30 consecutive business days. The Oncology Institute was initially given until December 17, 2024, to address the issue. Nasdaq later granted an additional 180-day compliance period, extending the deadline to June 16, 2025. The company's stock has shown remarkable recovery, with a year-to-date return of nearly 447% and is now trading near its 52-week high of $1.73.
The Oncology Institute, which specializes in services and clinics for cancer treatment, operates under the ticker symbol TOI on the Nasdaq Capital Market, with its common stock and associated redeemable warrants listed. The company, with a market capitalization of $128 million, has demonstrated strong revenue growth of 21% in the last twelve months. InvestingPro subscribers can access 12 additional key insights and a comprehensive analysis of the company's financial health, which is currently rated as GOOD.
The recent notice from Nasdaq has resolved the compliance issue, eliminating the immediate risk of delisting that the company faced. The Oncology Institute, headquartered in Cerritos, California, has not provided any further comments on the matter.
This development is based on the company's latest Form 8-K filing with the Securities and Exchange Commission, which serves as the source of the information reported.
In other recent news, The Oncology Institute reported its Q4 2024 earnings, revealing a net loss while emphasizing strategic growth initiatives. The company fell short of earnings per share (EPS) and revenue expectations, with an EPS of -$0.14 against a forecasted -$0.08 and revenue of $100.3 million compared to the anticipated $109.15 million. Despite these misses, the company highlighted a 17% year-over-year increase in consolidated revenue for the quarter and a 21.3% increase for the full year, reaching $393 million. The Oncology Institute also announced strategic expansions into Florida and new service contracts, contributing to positive cash flow from operations in the fourth quarter. Analysts noted the company's efforts to improve its financial flexibility, including a $20 million principal pay down of outstanding debt and a $16.5 million private placement of common equity. Looking ahead, the company projects 2025 revenue between $460 million and $480 million, with expectations of achieving profitability by Q4 2025. B. Riley analysts inquired about the company's growth drivers and were informed of the importance of strategic market expansion and operational efficiencies.
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