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) announced a change in the date of its upcoming earnings conference call, now set for April 3, 2023, where it will report its financial results for Q4 and the full year of 2022. The company will file its Annual Report on Form 10-K on March 31, 2023. The conference call will take place at 5:30 a.m. PT / 8:30 a.m. ET, allowing stakeholders to discuss financial results and highlights. Oncocyte specializes in precision diagnostics, offering tests like DetermaIO™, VitaGraft™, and the upcoming DetermaCNI™, which aim to provide critical insights for physicians and patients.
On March 15, 2023, Oncocyte Corporation (Nasdaq: OCX) announced the upcoming release of its fourth quarter and full year 2022 financial results on March 29, 2023. The company will host a conference call and webcast at 1:30 p.m. PT / 4:30 p.m. ET to discuss the results and recent highlights. Oncocyte, a precision diagnostics company, focuses on developing assays like DetermaIO™ for immunotherapy response prediction, VitaGraft™ for organ transplantation monitoring, and DetermaCNI™ for assessing therapeutic efficacy in cancer patients. Access to the live call will be available via phone and on their website.
Oncocyte Corporation (Nasdaq: OCX) announced the appointment of Joshua Riggs as Chief Executive Officer, effective February 24, 2023. Riggs, who has served as interim CEO since December, has successfully initiated a restructuring process to refocus product strategy and reduce costs. He emphasized Oncocyte's commitment to innovative diagnostics, targeting substantial clinical markets. The board of directors unanimously supports Riggs, highlighting his quick, effective leadership.
Prior to his interim role, Riggs was General Manager and Senior Director of Business Development. The company's portfolio includes DetermaIO™, VitaGraft™, and DetermaCNI™, which aim to enhance patient care and research.
Oncocyte Corporation (Nasdaq: OCX) announced the completion of its sale of 70% of Razor Genomics to Dragon Scientific, retaining a 30% stake while eliminating $8M in annual operating expenses and $13M in future obligations. This strategic move aims to ensure continuity of service for DetermaRx patients while focusing on reducing operational costs. The total estimated savings over the next two years reach nearly $30M. Interim CEO Joshua Riggs emphasized that this transaction aligns with the company's product strategy and positions Oncocyte to achieve key milestones in 2023.
Oncocyte Corporation (Nasdaq: OCX) announced a workforce reduction of over 40% to refocus on key products targeting larger markets. The company will also transfer 70% ownership of Razor Genomics, retaining a 30% stake amid ongoing development of lung cancer diagnostics. Key executive positions, including the COO and Chief Scientific Officer, are being eliminated, while their roles will transition to advisory. These strategic moves aim to streamline operations and extend the company's cash runway in preparation for critical milestones in 2023.
Oncocyte Corporation (Nasdaq: OCX) has appointed Louis E. Silverman as an independent board member, effective immediately. Silverman brings over 25 years of leadership experience in health care IT and services, currently serving as CEO of Hicuity Health, a leading provider of telemedicine services. His expertise is expected to enhance Oncocyte's strategic goals and shareholder value. The company focuses on precision diagnostics to improve patient outcomes, with proprietary tests like DetermaRx™ and DetermaIO™ aimed at cancer diagnosis and treatment.
Oncocyte Corporation (Nasdaq: OCX) announced the resignation of CEO Ronnie Andrews, effective December 1, 2022, with Joshua Riggs appointed as interim CEO starting December 2, 2022. Riggs, who has extensive experience in business development and previously served as the General Manager of Transplant, will lead the company through a transition period. Andrews will remain a consultant until February 28, 2023. The board expressed confidence in Riggs, emphasizing his alignment with the company's goals for commercialization and reimbursement of key diagnostic products.
Oncocyte Corporation (OCX) reported third quarter 2022 financial results with total revenue of $1.0 million, down from $2.1 million in the prior quarter. Notably, DetermaRx revenues improved by 51% year-over-year, totaling $1.0 million. Operating expenses decreased to $8.0 million from $12.7 million a year ago. Despite the revenue decline, the company saw a reduced net loss of $9.3 million, or $0.08 per share, compared to a loss of $13.8 million last year. Cash reserves stood at $34.2 million as of September 30, 2022. Strategic efforts, including a reimbursement submission for DetermaIO, are underway.
Oncocyte Corporation (Nasdaq: OCX) has announced the release of its third quarter 2022 financial results scheduled for November 10, 2022. A conference call and webcast will follow at 1:30 p.m. Pacific Time to discuss these results and other highlights. Oncocyte focuses on precision diagnostics to enhance patient outcomes, with proprietary tests like DetermaRx™ and DetermaIO™ aimed at improving cancer care and treatment decisions. The company also offers pharmaceutical services supporting cancer drug development.
Oncocyte Corporation (Nasdaq: OCX) announced that its DetermaIO test has been selected by the SWOG Cancer Research Network for a biomarker study in breast cancer. This study will utilize samples from the S1418 Phase III trial of Keytruda® in triple negative breast cancer patients. The test aims to identify candidates who may benefit from additional Keytruda® treatment after surgery. This collaboration marks a significant milestone for DetermaIO, highlighting its potential to enhance patient care through personalized insights.
FAQ
What is the current stock price of Oncocyte Corporation (OCX)?
What is the market cap of Oncocyte Corporation (OCX)?
What does Oncocyte Corporation specialize in?
What types of cancer does Oncocyte's diagnostics target?
What are some of Oncocyte's key products?
How does Oncocyte's DetermaIO™ test work?
What recent achievements has Oncocyte made?
Who are some of Oncocyte's partners?
What is the purpose of Oncocyte's VitaGraft™ test?
What is GraftAssure™ used for?
How does Oncocyte support its operations financially?
Where can I find more information about Oncocyte Corporation?
