Starling Oncology, Inc. filed a Current Report on Form 8-K dated November 12, 2026, to furnish an Investor Presentation. The filing details the company’s operational footprint, financial outlook, and growth strategy for its value-based cancer care platform.
The presentation outlines a financial outlook for fiscal year 2026, estimating revenue between $650 million and $660 million. This figure is based on the midpoint of the guidance provided in the company’s third-quarter 2026 earnings release on November 5, 2026. The company projects adjusted EBITDA of $4 million to $6 million for the same period.
Operational highlights include a network of 60+ capitated care contracts across five states, serving 2.2 million value-based care (VBC) lives and over 300,000 encounters in 2025. The company reports that non-California markets are a significant growth engine, with lives increasing by 272% and revenue up 44% since 2024.
Starling Oncology’s business model is segmented into capitation, fee-for-service (FFS), specialty pharmacy, and clinical trials. As of September 30, 2026, the revenue mix is approximately 17% capitation, 20% FFS, 62% specialty pharmacy, and roughly 1% clinical trials.
The company also notes recent strategic developments, including the repayment of an $86 million note through a refinancing with OrbiMed, which expanded revolver capacity to $25 million. Additionally, the company launched Starling Oncology Nexus to strengthen provider engagement and clinical pathway adherence.
