SHORELINE BIOSCIENCES TO PRESENT TWO POSTERS ON INK CELL PLATFORM AT 19TH MEETING OF THE SOCIETY FOR NATURAL IMMUNITY (NK2022) – PR Newswire

SAN DIEGO, May 10, 2022 /PRNewswire/ -- Shoreline Biosciences, Inc. (Shoreline), a biopharmaceutical company developing next-generation cellular immunotherapies based on induced pluripotent stem cells (iPSCs) utilizing its proprietary iPSC-derived natural killer (iNK) cell and macrophage (iMACs) platforms, today announced that it will present two posters at the 19thMeeting of the Society for Natural Immunity (NK2022), taking place May 14 17,2022at theHyatt Coconut Point in Bonita Springs, Florida. Shoreline will present two posters demonstrating its novel methodologies to produce iNK cells.

"We are pleased to present our proprietary CAR-NK and iNK methodologies at the NK2022 meeting, which adds to Shoreline's growing contribution to the advancement of the cellular immunotherapy field," said Robert Hollingsworth, Ph.D., CSOof Shoreline. "We believe we can improve upon existing CAR-NK and CAR-T therapies with our novel approach, and we look forward to building our pipeline of iPSC-derived programs and preparing for our next steps as a clinical company."

Details of the poster presentations are below:

Title:"Development of an iPSC-derived NK cell screening platform for discovery of NK cell optimized Chimeric Antigen Receptors (CARs) for next-generation CAR-NK cell immunotherapies"Poster Number: 56, Poster Session I Date: Sunday, May 15, 2022

Title:"A novel method to produce clinical scale induced pluripotent stem cell-derived natural killer (iPSC-NK) cells with improved anti-tumor activity for next-generation allogenic cell therapies"Poster Number:185, Poster Session II Date: Monday, May 16, 2022

For more information, please visit the NK2022 meeting website at NK2022.

About Shoreline Biosciences

Shoreline Biosciences is a biopharmaceutical company developing next-generation cellular immunotherapies based on induced pluripotent stem cells, or iPSCs, utilizing its proprietary iPSC-derived natural killer (iNK) cell and macrophage (iMACs) platforms. The company's platforms are built on a deep understanding of iPSC differentiation, immune cell biology and genetic engineering that enable the development of specific effector cell types, including iNK cells and iMACs as allogeneic "off-the-shelf" cellular immunotherapies designed for durability, scalability, safety and efficacy. Shoreline is advancing a pipeline of programs towards the clinic, on its own and with its strategic partners, Kite, a Gilead Company, and BeiGene, a global pharmaceutical company. Shoreline Biosciences is headquartered inSan Diego, CA.

For more information, please visithttps://shorelinebio.com/and engage with us onLinkedIn.

SOURCE Shoreline Biosciences, Inc.

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SHORELINE BIOSCIENCES TO PRESENT TWO POSTERS ON INK CELL PLATFORM AT 19TH MEETING OF THE SOCIETY FOR NATURAL IMMUNITY (NK2022) - PR Newswire

Medical tourists are travelling the world in search of the elixir of life – The Guardian

Every year millions of people cross borders to undergo medical treatments that are either unavailable in their home country or too expensive. For many, this is a last resort to ease the pain of a debilitating disease or defy a terminal diagnosis; for others the goals are purely cosmetic. But in the past few years a new type of medical tourist has emerged: those seeking to radically extend their lives.

There are more older people than ever before and more people in search of longevity. In the UK, people over the age of 65 made up 19% of the population in 2019, a jump of 23% from 2009, in a period when the total population only increased by 7%. And recent advancements in the science of ageing have given them hope that they dont have to go so gently into that good night after all.

But while science has made some promising breakthroughs in studying the causes and implications of ageing, real solutions are some way off. In that gap between supply and demand, a host of fraudsters and scam artists are ready to take advantage of anyone gullible enough to believe they can pay a little extra for a few extra years among the living. Many offer their services abroad, in countries where regulation is light.

Medical tourism has produced a steady stream of horror stories since cheaper air travel kickstarted a rise in its popularity, from botched nose jobs and broken smiles to a fair number of deaths. Despite this, it remains a gigantic industry. According to Patients Beyond Borders, the global medical tourism market was worth $74bn-$92bn (59bn-73bn) in 2019.

A prime example is stem cell therapies, regenerative treatments aiming to use the bodys building-block cells to rejuvenate and fix damage caused by disease or deterioration an area of research with a lot of potential but relatively few established and approved treatments available to patients. However, the potential effects, most often exaggerated or unsubstantiated, lure the desperate to travel far and wide to seek treatments, sometimes from practitioners of ill repute. According to research published last year, the leading countries for stem cell tourism are the US, China, India, Thailand and Mexico. The same report states that stem cell technologies are often associated with inflated expectations of their therapeutic potential.

Stem cell therapies can also help with cancer and other illness, but during my reporting for my book The Price of Immortality: The Race to Live Forever, I found a number of examples of US-based stem cell companies offering miracle cures and solutions to ageing. One clinic in Iowa was found to have made outrageous claims in presentations to potential clients. Anti-Aging: Mesenchymal Stem Cell infusions turned back the hands of Father Time about three years! Would you like to get back three years? read one slide of sales material, collected by the state attorney generals office that was suing the company for false advertising.

Even when prosecuted or disciplined in one country, stem cell practitioners have been known to move on and continue to offer the same services elsewhere. One in Florida had his medical licence revoked in 2015, after two of his patients undergoing stem cell therapy had died. When I looked up the name of the doctor, he was listed as the chief science officer at another stem cell company. A cheerful receptionist told me on a call that the clinic was still operational and carrying out procedures in the Dominican Republic, a medical tourism hotspot.

Stem cell therapies are not the only anti-ageing offerings luring people abroad for treatment. The nascent field of gene therapies is in a similar position, where promising research has yet to result in accessible interventions. I also recently heard from a life extension enthusiast in the US who planned to travel to France to undergo plasmapheresis, a procedure he claimed would rejuvenate his blood and give him a better chance of living until he was 500.

In some cases, patients dont need even need to fly abroad to access drugs that have the potential to make them live longer. I spoke to an elderly woman in London who buys the cancer drug dasatinib from a website in India, and takes it in the hope it will destroy senescent cells, which are thought to play an integral role in the ageing process.

Gerontologists and other researchers find the practice frustrating. Several scientists I spoke to, particularly in the stem cell field, are worried these clinics are making a quick buck on the back of their breakthroughs while damaging the reputation of these nascent medical technologies. They preach patience, a virtue in short supply for people who see the end of their lives on the horizon.

Medical tourism presents clear dangers. Patients may not find the same standard of care they are used to at home, and it is harder to establish that the doctor or clinic is legitimate. Patients can also suffer from side-effects if they fly home too early after a procedure; communication barriers can also cause issues.

For someone seeking treatment they cant afford at home or a last-gasp unapproved cure for a deadly disease, these risks are worth taking. But for people merely seeking to improve their chances of living radically extended lives, the gamble is much larger, particularly when theres no evidence that any medical intervention could work. In a best-case scenario, they leave with a lighter wallet. In the worst, their quest to live a little longer is cut ironically short.

The Price Of Immortality by Peter Ward (Melville House, 20). To support The Guardian and Observer, order your copy at guardianbookshop.com. Delivery charges may apply.

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Medical tourists are travelling the world in search of the elixir of life - The Guardian

The Oncology Institute Reports First Quarter 2022 Financial Results and Confirms Full Year 2022 … – KULR-TV

CERRITOS, Calif., May 11, 2022 (GLOBE NEWSWIRE) -- The Oncology Institute, Inc. (NASDAQ: TOI), one of the largest value-based community oncology groups in the United States, today reported financial results for its first quarter ended March31, 2022.

"We are pleased with the results we achieved in Q1 2022, driven by our expansion in new markets and continued investment in a value-based approach to oncology. Our financial results reflected strong growth, with Q1 2022 revenue of $55 million, growing 14% compared to Q1 2021. We were thrilled to announce three new value-based partnerships in Q1 2022, one of which is with a new partner, MaxHealth in the Tampa and St. Petersburg markets, which has great potential for growth in the future, said Brad Hively, CEO of TOI. We also launched our 11th market in Polk County, Florida and opened a new clinic in Culver City, California as we continue to solidify our position in the Los Angeles market. We also recently announced our acquisition of Womens Cancer Care in Fresno, which will be our 12th market. We continue to strengthen our M&A pipeline which is expected to lead to positive growth throughout the rest of 2022. We are optimistic about the year ahead and continue to see strong partnership demand for our innovative model of oncology care."

First Quarter 2022 Operational Highlights

Initiated three new value-based partnerships, including our third gain share contract in Florida with MaxHealthHired five new clinicians, ending the period with 84 clinicians, representing a 24% growth compared to Q1 2021Commenced expansion of our radiation oncology site in Long Beach, California, added a new Radiation Oncology Medical Director and expanded our payor contractsOpened two new de novo clinics in Culver City, California and Polk County, Florida

First Quarter 2022 Results

Consolidated revenue for Q1 2022 was $55 million, a 13.5% increase compared to Q1 2021.

Revenue for the Patient Services segment was $35 million, up 18.3% compared to Q1 2021. Growth in Patient Services was driven by an increase in capitated contracts entered into in the latter half of 2021 as well as growth in FFS revenue due to practice acquisitions in Q4 2021 and an overall increase in clinic count. Dispensary revenue growth lagged the growth in Patient Services largely due to the Medical Rx transition. Despite the Medical Rx transition, dispensary revenue increased 6.0% compared to Q1 2021 due to an increase in the average revenue per script fill. Clinical Trials & Other revenue increased by 6.3% year-over-year due to an increase in clinical trials volumes.

Gross profit in Q1 2022 was $12 million, an increase of 20.8% compared to Q1 2021. The increase was driven by improved cost management of our oral and IV drugs and enhanced rebate opportunities.

SG&A expenses in Q1 2022 were $30 million or 54.0% of revenue, compared with $11 million, or 23.0% of revenue, in the same quarter last year. During Q1 2022, share-based compensation expense was $9 million and SG&A related to transaction costs was $1 million. The remainder of the SG&A growth was due to headcount and other costs associated with operating as a public company and to support revenue growth.

Net income for Q1 2022 was $19 million, increasing $20 million over the same quarter last year primarily due to the change in the fair value of the earnout liabilities. Adjusted EBITDA was $(5) million, a decrease of $5 million compared to Q1 2021, primarily as a result of our growth in SG&A as we prepare for expansion into new markets, as well as SG&A expenses necessary for TOI to operate as a public company.

2022 Outlook

Results for the first quarter of 2022 came in as expected and our outlook for 2022 remains unchanged.

(1) Adjusted EBITDA is a non-GAAP metric. See "Financial Information: Non-GAAP Financial Measures" below. TOI is not reasonably able to provide a reconciliation to net (loss) income due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation, which cannot be done without unreasonable efforts, including uncertainties regarding taxes, share-based compensation and other non-cash items. TOI expects interest expense in the range of $0.5 million and $1 million, other adjustment add backs in the range of $4 million and $6 million and depreciation and amortization in the range of $4 million and $6 million. TOI is not adding back new clinic startup or acquisition cost for this non-GAAP metric. The presentation of this financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. The Company's fiscal 2022 adjusted EBITDA guidance is merely an outlook and is not a guarantee of future performance. Stockholders should not rely or place an undue reliance on such forward-looking statements. See "Forward-Looking Statements" below for additional information.

(2) Represents lives under capitation and gain sharing contracts. Our achievement of the anticipated results is subject to risks and uncertainties, including those disclosed in our filings with the SEC. The outlook does not take into account the impact of any unanticipated developments in the business or changes in the operating environment, nor does it take into account the impact of our acquisitions, dispositions or financings during 2022. Our outlook assumes a largely reopened global market, which would be negatively impacted if closures or other restrictive measures persist or are reimplemented.

Webcast and Conference Call

TOI will host a conference call on Wednesday, May 11, 2022 at 5:00 p.m. (Eastern Time) to discuss first quarter results and managements outlook for future financial and operational performance.

The conference call can be accessed live over the phone by dialing 1-877-407-0789, or for international callers, 1-201-689-8562. A replay will be available two hours after the call and can be accessed by dialing 1-844-512-2921, or for international callers, 1-412-317-6671. The passcode for the live call and the replay is 13728629. The replay will be available until May 18, 2022.

Interested investors and other parties may also listen to a simultaneous webcast of the conference call by logging onto the Investor Relations section of TOI's website at https://investors.theoncologyinstitute.com.

About The Oncology Institute, Inc.

Founded in 2007, TOI is advancing oncology by delivering highly specialized, value-based cancer care in the community setting. TOI offers cutting-edge, evidence-based cancer care to a population of approximately 1.5 million patients including clinical trials, stem cell transplants, transfusions, and other care delivery models traditionally associated with the most advanced care delivery organizations. With 80+ employed clinicians and more than 600 teammates in over 50 clinic locations and growing, TOI is changing oncology for the better. For more information visit http://www.theoncologyinstitute.com.

Forward-Looking Statements

This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as preliminary, believe, may, will, estimate, continue, anticipate, intend, expect, should, would, plan, project, predict, potential, guidance, approximately, seem, seek, future, outlook, and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding projections, anticipated financial results, estimates and forecasts of revenue and other financial and performance metrics and projections of market opportunity and expectations. These statements are based on various assumptions and on the current expectations of TOI and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by anyone as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of TOI. These forward-looking statements are subject to a number of risks and uncertainties, including the accuracy of the assumptions underlying the 2022 outlook discuss herein, the outcome of judicial and administrative proceedings to which TOI may become a party or governmental investigations to which TOI may become subject that could interrupt or limit TOIs operations, result in adverse judgments, settlements or fines and create negative publicity; changes in TOIs clients preferences, prospects and the competitive conditions prevailing in the healthcare sector; failure to continue to meet stock exchange listing standards; the impact of COVID-19 on the TOIs business; those factors discussed in the documents of TOI filed, or to be filed, with the SEC, including the Item 1A. "Risk Factors" section of TOI's Annual Report on Form 10-K for the year ended December 31, 2021. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that TOI does not presently know or that TOI currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect TOIs, plans or forecasts of future events and views as of the date of this press release. TOI anticipates that subsequent events and developments will cause TOIs assessments to change. TOI does not undertake any obligation to update any of these forward-looking statements. These forward-looking statements should not be relied upon as representing TOIs assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Financial Information; Non-GAAP Financial Measures

Some of the financial information and data contained in this press release, such as Adjusted EBITDA, have not been prepared in accordance with United States generally accepted accounting principles (GAAP). TOI believes that the use of Adjusted EBITDA provides an additional tool to assess operational performance and trends in, and in comparing our financial measures with, other similar companies, many of which present similar non-GAAP financial measures to investors. TOIs non-GAAP financial measures may be different from non-GAAP financial measures used by other companies. The presentation of non-GAAP financial measures is not intended to be considered in isolation or as a substitute for, or superior to, financial measures determined in accordance with GAAP. The principal limitation of Adjusted EBITDA is that it excludes significant expenses and income that are required by GAAP to be recorded in TOI's financial statements. Because of the limitations of non-GAAP financial measures, you should consider the non-GAAP financial measures presented in this press release in conjunction with TOIs financial statements and the related notes thereto.

TOI defines Adjusted EBITDA as net (loss) income plus depreciation, amortization, interest, taxes, non-cash items, share-based comp and other adjustments to add-back the following: board fees, consulting and legal fees related to acquisitions, one-time consulting and legal fees related to certain advisory projects, software implementations and debt or equity financings, severance expense and temp labor and recruiting charges to build out our corporate infrastructure. A reconciliation of Adjusted EBITDA to net loss, the most comparable GAAP metric, is set forth below.

(1) During the three months ended March 31, 2022, non-cash addbacks were primarily comprised of bad debt write-offs of $154, non-cash rent of $29 and other miscellaneous charges of $14. During the three months ended March 31, 2021, non-cash addbacks were primarily comprised of a $13 tenant improvement allowance.

(2) Practice acquisition-related costs were comprised of consulting and legal fees incurred to perform due diligence, execute, and integrate acquisitions of various oncology practices.

(3) Consulting and legal fees were comprised of a subset of the Companys total consulting and legal fees during the three months ended March 31, 2022 and 2021, and related to certain advisory projects, software implementations, and legal fees for debt financing and predecessor litigation matters.

(4) Other, net is comprised of severance expenses resulting from cost rationalization programs of $18 and $0, as well as temporary labor of $485 and $223, recruiting expenses to build out corporate infrastructure of $424 and $155 and other miscellaneous charges of $26 and $0 during the three months ended March 31, 2022 and 2021, respectively. During the three months ended March 31, 2022 and 2021 such expenses were partially offset by $0 and $1,023, respectively, of stimulus funds received under the CARES Act.

(1) Includes independent oncology practices to which we provide limited management services, but do not bear the operating costs.

Condensed Consolidated Balance Sheets (in thousands except share data)

Condensed Consolidated Statements of Income (Operations) (Unaudited) (in thousands except share data)

Condensed Consolidated Statements of Cash Flows (Unaudited) (in thousands)

Contacts

Media The Oncology Institute, Inc. Julie Korinke juliekorinke@theoncologyinstitute.com (562) 735-3226 x 88806

Revive Michael Petrone mpetrone@reviveagency.com (615) 760-4542

Investors Solebury Trout investors@theoncologyinstitute.com

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The Oncology Institute Reports First Quarter 2022 Financial Results and Confirms Full Year 2022 ... - KULR-TV

ONCOLOGY INSTITUTE, INC. – 10-Q – Management’s Discussion and Analysis of Financial Condition and Results of Operations – Insurance News Net

The following discussion and analysis provides information that managementbelieves is relevant to an assessment and understanding of the consolidatedresults of operations and financial condition of The Oncology Institute, Inc.("TOI") along with its consolidating subsidiaries (the "Company"). Thediscussion should be read together with the unaudited consolidated financialstatements and the related notes that are included elsewhere in this Report. Theinformation in this discussion contains forward-looking statements within themeaning of Section 27A of the Securities Act of 1933, as amended, and Section21E of the Securities and Exchange Act of 1934, as amended. Such statements arebased upon current expectations, as well as management's beliefs and assumptionsand involve a high degree of risk and uncertainty. Any statements containedherein that are not statements of historical fact may be deemed to beforward-looking statements. Statements that include the words "believes,""anticipates," "plans," "expects." "intends," and similar expressions thatconvey uncertainty of future events or outcomes are forward-looking statements.Our actual results could differ materially from those discussed or suggested inthe forward-looking statements herein. Factors that could cause or contribute tosuch differences include those described under the heading "Risk Factors" in ourAnnual Report on Form 10-K for the year ended December 31, 2021. In addition, asa result of these and other factors, our past financial performance should notbe relied on as an indication of future performance. All forward-lookingstatements in this document are based on information available to us as of thefiling date of this Quarterly Report on Form 10-Q and we assume no obligation toupdate any forward-looking statements or the reasons why our actual results maydiffer. All dollar values are expressed in thousands, unless otherwise noted.

Overview

Public Company Costs

Impact of COVID-19

Key Factors Affecting Performance

a recruiting process focused on selecting physicians that want to practice evidence-based medicine;

technology-enabled care pathways ensuring adherence to evidence-based clinical protocols;

strong clinical culture and physician oversight;

care delivered in community clinics versus hospital setting;

clinically appropriate integration of palliative care and hospice aligned with patients' goals for care;

access to clinical trials providing cutting-edge treatment options at low or no cost to patients or payors; and

appropriate provider training on clinical documentation to ensure proper risk adjustment and reimbursement for complex patients.

Key Business Metrics

$ 69

(1) Includes independent oncology practices to which we provide limited management services, but do not bear the operating costs.

The Company defines adjusted EBITDA as net income (loss) excluding:

Depreciation and amortization,

Changes in fair value of liabilities,

Stock-based compensation,

Practice acquisition-related costs,

Consulting and legal fees,

Public company transaction costs, and

Other specific charges.

The Company includes adjusted EBITDA because it is an important measure upon which our management uses to assess the results of operations, to evaluate factors and trends affecting the business, and to plan and forecast future periods.

Components of Results of Operations

Revenue

Capitation

Fee-for-service revenue

Clinical trials revenue

Dispensary cost

Dispensary cost primarily includes the cost of oral medications dispensed in the TOI PCs' clinic locations.

Selling, general and administrative expense

Results of Operations

Comparison of the Three Months Ended March 31, 2022 and 2021

Dispensary

Clinical trials & other

The increase in clinical trials and other revenue was primarily due to an increase in clinical trials volumes which were negatively impacted in the prior year due to the COVID-19 pandemic.

Dispensary cost

Selling, general and administrative expense

The decrease in interest expense was due to the pay-off of our term loan balance in Q4 2021.

Change in fair value of liabilities

Gain on debt extinguishment

Other, net

The change in other, net was primarily due to Provider Relief Funding under the CARES Act received during the three months ended March 31, 2021.

Liquidity and Capital Resources

General

Cash Flows

The following table presents a summary of the Company's consolidated cash flows from operating, investing, and financing activities for the periods indicated.

Cash and restricted cash at end of period $ 95,534 $ 27,412

Cash used by accounts payable, accrued expenses and income taxes payable increased $3,371 for the three months ended March 31, 2022 as compared to the three months ended March 31, 2021 primarily due to an increase in vendor payables due to the growth in the Company's business; and

Material Cash Requirements

Total material cash requirements $ 9,728 $ 14,264

$ 5,817 $ 2,505 $ 32,314

(1) Other is comprised of finance leases and directors and officers insurance premiums.

Leases

Variable Interest Entities

Segment Reporting

1.Identification of the contract, or contracts, with a customer.

2.Identification of the performance obligations in the contract.

3.Determination of the transaction price.

4.Allocation of the transaction price to the performance obligations in the contract.

5.Recognition of revenue when, or as, the entity satisfies a performance obligation.

Capitation

Fee For Service

Clinical Research

Direct Costs of Sales

Goodwill and Intangible Assets

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ONCOLOGY INSTITUTE, INC. - 10-Q - Management's Discussion and Analysis of Financial Condition and Results of Operations - Insurance News Net