What a difference a week can make on the stock market. Next-generation healthcare tech company Tempus AI's (TEM -0.26%) stock was doing quite well, thank you very much, over the past few days, in contrast to the preceding five-day trading stretch.
Due to some positive news from a subsidiary brought into its portfolio recently, this week to date (as of early Friday morning) Tempus AI's shares were rising by almost 14%, according to data compiled by S&P Global Market Intelligence.
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A technological leap forward
That subsidiary, California-based genetic testing specialist Ambry Genetics, was acquired by Tempus AI in February. Ambry announced a major upgrade to its cancer risk assessment platform Wednesday. It said that the Ambry CARE Program integrates data such as breast density to feed into the score calculated by the benchmark Tyrer-Cuzick breast cancer risk assessment tool.
This update, the company said, supplies "clinicians with more precise and personalized risk estimates at the point of care that can guide recommendations for breast cancer screening and risk reduction."
Ambry added that this type of cancer is the most common to be diagnosed in women. As such, it makes CARE that much more compelling for this large addressable market.
Reputation enhancer
Not only is this a boost for the Ambry Genetics product, it should also help burnish the reputation of Tempus AI as a whole. After all, the company has positioned itself as a cutting-edge, tech-forward solutions provider harnessing artificial intelligence (AI) to improve outcomes for patients.
