Schoenherr Thomas Edward sold $930K of TEM

Pathos AI has partnered with Bristol Myers Squibb (BMS) and Tempus AI to develop AI-driven drug treatments for Alzheimer’s and other neurological conditions. BMS will lead Pathos’s $237M Series E funding round, gaining access to Pathos’s Foundry platform. Tempus will provide a $55M dataset. Pathos aims to scale Foundry and advance its clinical cancer programs.

Tempus AI (TEM) expects positive free cash flow by year-end but had a $273M cash burn over the past year. With $816M in cash, the company's reserves could last about three years at current burn rates. Revenue grew 20% and 36% in diagnostics and data businesses, respectively. Management raised 2026 revenue guidance to $1.595B-$1.605B and issued $460M in convertible notes. The company plans to acquire Personalis, potentially using debt to fund the deal.

Pathos AI has partnered with Bristol Myers Squibb (BMY) and Tempus (TEM) to advance AI-driven drug development for Alzheimer’s and other neurological conditions. Tempus will create a dataset from hundreds of thousands of patients, which Pathos will license for $55 million over five years. BMY leads Pathos's Series E financing and gains access to Pathos's AI platform, Pathos Foundry, for its R&D portfolio, with exclusive rights in neuroscience for three years.

Tempus AI signed a five-year neurology data deal with Pathos AI, potentially worth $55 million. Tempus will deliver up to 500,000 records, with Pathos paying $100 per record. Bristol Myers Squibb gains nonexclusive Foundry access and three-year exclusive rights for neuroscience development. Tempus also has a $137.5 million oncology deal with BMS, totaling $192.5 million if both deals reach full value.

Tempus AI shares rose 6% after Bristol Myers Squibb agreed to a multi-year deal to license its oncology data through 2031. Tempus's data and AI platform will support BMS's drug discovery and development. Data licensing is Tempus's most profitable segment, with 36% revenue growth in Q2. The financial terms of the deal were not disclosed.

Bristol Myers Squibb (BMY) shared Phase 1 data for zolacabtagene autoleucel (zola-cel) in MS patients, showing promising results. Separately, BMY expanded its AI collaboration with Tempus (TEM) through 2031. BMY stock is down 2.30%, TEM up 1.54%.