Welcome to our dedicated page for Oncocyte Corporation news (Ticker: OCX), a resource for investors and traders seeking the latest updates and insights on Oncocyte Corporation stock.
Oncocyte Corporation (OCX) is a pioneering precision diagnostics company dedicated to the discovery, development, and commercialization of non-invasive, liquid biopsy diagnostics aimed at facilitating clinical decision-making in the early detection of cancer. The company focuses on molecular tests that address high unmet needs in the diagnosis of lung, breast, and bladder cancers, conditions where current diagnostic standards are often ambiguous, costly, and invasive. Oncocyte's tests are developed based on a proprietary set of biomarkers, designed to differentiate between benign and malignant nodules or masses.
Oncocyte’s flagship products include:
- DetermaIO™: A gene expression test that assesses the tumor microenvironment to predict response to immunotherapies.
- DetermaCNI™: A blood-based monitoring tool for therapeutic efficacy in cancer patients.
- VitaGraft™: A blood-based solid organ transplantation monitoring test.
- GraftAssure™: A research-use-only monitoring test for solid organ transplantation.
The company has made significant strides in expanding its diagnostic capabilities and achieving key regulatory and commercial milestones. In 2023, Oncocyte secured reimbursement for VitaGraft™ Kidney, manufactured the initial lots of GraftAssure RUO, and entered a strategic partnership with Bio-Rad Laboratories to commercialize GraftAssure and develop VitaGraft Kidney IVD. This partnership, along with a successful $15.8 million private placement offering, positions Oncocyte well to meet its critical commercial and regulatory goals.
Oncocyte continues to be supported by strong core investors and aims to provide clarity and confidence to physicians and their patients through its groundbreaking diagnostic tests. For more information, visit www.oncocyte.com.
Oncocyte Corporation (NASDAQ: OCX) reported significant growth in DetermaRx diagnostics, with a 36% increase in sample volume and 58% revenue growth in Q4 2020 compared to Q3 2020. The company is on track to launch DetermaIO™ in 2021, crucial for immune therapy selection. Data to support this will be presented at the 2021 AACR Annual Meeting. A strengthened balance sheet, aided by recent equity offerings totaling $69 million, supports its expanding product portfolio. However, the company also reported a net loss of $6.3 million for Q4 2020.
Oncocyte Corporation (Nasdaq: OCX) announced results from a study validating its DetermaIO™ immuno-oncology algorithm, indicating it can predict patient response to immunotherapies across various cancer types by analyzing the tumor microenvironment (TME). The algorithm demonstrated a 92% agreement rate from patient samples and could distinguish between responding and non-responding tumors in lung cancer cases. This novel approach may fulfill the unmet need for more accurate predictive biomarkers compared to standard PD-L1 testing, offering potential benefits for both clinical use and pharmaceutical partnerships.
Oncocyte Corporation (NASDAQ: OCX) announced promising results from studies on its DetermaIO test, indicating its effectiveness in predicting responses to immune checkpoint inhibitors in metastatic bladder cancer, alongside previous findings in lung and breast cancers. The studies will be presented at the AACR Annual Meeting 2021, showcasing potential clinical applications in a projected $3 billion market by 2026. Oncocyte plans a KOL webinar on April 19, 2021 to discuss these findings further, emphasizing DetermaIO's role as a potential pan-cancer biomarker.
Oncocyte Corporation (NASDAQ: OCX) has established a Medical Advisory Board (MAB) to advance its portfolio of diagnostic tests for cancer. The MAB, led by Dr. David Gandara, includes experts from renowned institutions and focuses on clinical studies for tests like DetermaRx™ and DetermaIO™. These tests aim to improve cancer treatment decisions and patient outcomes. The company plans the launch of DetermaTx™, further enhancing its offerings in blood-based monitoring. Oncocyte is committed to utilizing its proprietary tests to drive revenue growth and enhance cancer care.
Oncocyte Corporation has signed a significant agreement with MultiPlan, allowing access to its DetermaRx™ test for lung cancer patients across MultiPlan’s networks, covering over 60 million lives. This partnership enhances the availability of DetermaRx™, which identifies early-stage non-squamous NSCLC patients eligible for adjuvant chemotherapy, potentially improving survival rates. The collaboration is expected to increase treatment access, aligning pricing with CMS standards, thus broadening market reach.
Oncocyte Corporation (NYSE American: OCX) will report its financial and operating results for Q4 and the year ended December 31, 2020, on March 16, 2021, after U.S. markets close. A conference call will follow at 4:30 PM ET to discuss the results and recent developments. The company is focused on cancer diagnostics, having launched tests like DetermaRx and DetermaIO, with plans to introduce DetermaTx in H2 2021. They are pursuing the acquisition of Chronix Biomedical and aim to enhance revenue through their pharmaceutical services.
Oncocyte Corporation (NYSE American: OCX) has officially become the sole shareholder of Razor Genomics after completing a second investment. This acquisition allows Oncocyte to fully own Razor's treatment stratification test, DetermaRx, which is crucial for early-stage lung cancer treatment decisions. To finalize this transaction, Oncocyte paid $10 million in cash and issued 982,318 shares valued at $5 million. The CEO highlighted this acquisition as a significant milestone that enhances Oncocyte’s operational capabilities and market presence in the oncological diagnostics sector.
Oncocyte Corporation (NYSE American: OCX) has announced its approval to list on the Nasdaq Global Market, effective March 8, 2021. This transition is expected to enhance visibility and market liquidity, attracting institutional investors and potentially boosting shareholder value. The company is known for its molecular diagnostics aimed at cancer care, with recent product launches like DetermaRx and DetermaIO to improve diagnostic capabilities. CEO Ron Andrews highlighted the listing as a significant milestone for growth.
Oncocyte Corporation (NYSE American: OCX) announced its participation in a Fireside Chat at the BTIG MedTech, Digital Health, Life Science & Diagnostic Tools Conference on February 18, 2021, at 4:30 PM EST. This event will be accessible via a live webcast and will later have a replay available on the company's investor website. Oncocyte focuses on molecular diagnostics to enhance cancer care through proprietary tests such as DetermaRx and DetermaIO, aimed at improving patient outcomes and driving company revenue growth.
Oncocyte Corporation (NYSE American: OCX) has successfully closed its public offering of 8,947,000 shares of common stock at $4.50 per share, raising approximately $40.3 million. With this offering, the company’s total outstanding shares are now 87,608,810. The funds will be used to commercialize the DetermaRx™ diagnostic test, complete development of DetermaIO™, and for future tests in the pipeline, including a merger with Chronix Biomedical. This transaction was managed by Piper Sandler as the Sole Book-Runner.
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