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The Oncology Institute, Inc., a Delaware-incorporated healthcare provider specializing in the treatment of cancer, held its 2025 Annual Meeting of Stockholders on May 7, 2025. The company, currently valued at $221.2 million and showing strong financial health according to InvestingPro metrics, has demonstrated impressive revenue growth of 21.33% over the last twelve months. The meeting, detailed in a recent 8-K filing with the U.S. Securities and Exchange Commission, saw three key proposals put to a vote by the company’s stockholders.
The first proposal involved the election of eight directors to the company’s board. Each director was elected to serve for the upcoming year or until their successor is appointed. The election process is based on a plurality vote system, and the results were as follows: Richard Barasch received 39,183,430 votes for, 654,584 withheld; Brad Hively received 35,152,238 votes for, 4,685,776 withheld; Karen Johnson received 34,449,869 votes for, 5,388,145 withheld; Mohit Kaushal received 39,297,684 votes for, 540,330 withheld; Gabriel Ling received 35,197,055 votes for, 4,640,959 withheld; Anne McGeorge received 39,243,506 votes for, 594,508 withheld; Mark Pacala received 39,243,514 votes for, 594,500 withheld; and Daniel Virnich received 39,773,654 votes for, 64,360 withheld. There were 22,053,365 broker non-votes for each nominee.
The second proposal was the ratification of BDO USA, LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025. This proposal was approved with 61,175,079 votes for, 682,121 against, and 34,179 abstentions.
The third proposal, the 2025 Reverse Stock Split Proposal, was also approved. This amendment to the company’s Third Amended and Restated Certificate of Incorporation will allow for a reverse stock split at a ratio of between 1-for-5 and 1-for-40, if deemed necessary by the Board of Directors within one year of the meeting. The votes for this proposal were 59,269,880 for, 2,621,458 against, and 41 abstentions. This decision comes as the stock has shown remarkable momentum, with InvestingPro data revealing a 957.69% price return over the past six months.
The Oncology Institute, Inc., which trades on The Nasdaq Stock Market LLC under the ticker symbols TOI for its common stock and TOIIW for its redeemable warrants, is recognized as an emerging growth company.
The information in this article is based on a press release statement.
In other recent news, The Oncology Institute has reported its Q4 2024 financial results, showing a mixed performance. The company experienced a net loss and missed both earnings per share (EPS) and revenue forecasts, with an actual EPS of -$0.14 compared to the expected -$0.08, and revenue of $100.3 million falling short of the $109.15 million forecast. Despite these misses, the company reported a 17% year-over-year increase in quarterly revenue and a 21.3% increase in full-year revenue to $393 million. However, the full-year gross profit declined by 9.4% to $54 million, and the net loss for the year was $64.6 million, an improvement of $18.4 million from the previous year.
Additionally, The Oncology Institute successfully regained compliance with Nasdaq’s minimum bid price requirement, maintaining a closing bid price of at least $1.00 for 12 consecutive business days. This compliance alleviates the immediate risk of delisting, which had been a concern since June 2024. Furthermore, the company has outlined optimistic projections for 2025, expecting revenue between $460 million and $480 million, and aiming for profitability by Q4 2025.
Analyst feedback from B. Riley highlights the company’s strategic market expansion and operational efficiencies as key drivers for future performance. The Oncology Institute has also taken steps to strengthen its balance sheet, including a $20 million principal pay down of outstanding debt and a $16.5 million private placement of common equity. These developments indicate the company’s focus on financial flexibility and strategic growth.
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