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 webinar on June 28, 2022, featuring key opinion leaders discussing the role of DetermalO™ and the tumor microenvironment in clinical practice. Presenters Chiara Cremolini, MD, PhD, and Adam Brufsky, MD, PhD, will cover topics related to immunotherapy efficacy and patient management in cancer treatment. Dr. Cremolini will provide an overview of recent research on colorectal cancer, while both experts will engage in a discussion on identifying potential responders to treatments. Registrations for the webinar are available online.
Oncocyte Corporation (Nasdaq: OCX) announced significant advancements with its DetermaIO test, aimed at identifying patients with colon cancer who may benefit from immunotherapy. Validated by ten studies across six tumor types, DetermaIO addresses a substantial unmet need, as 95% of colon cancer patients are currently deemed ineligible for treatment. Presentations at the ASCO Annual Meeting highlight DetermaIO's potential predictive capabilities in various cancers, indicating a broader utility for immunotherapy selection.
Oncocyte Corporation (Nasdaq: OCX) reported a total revenue of $1.4 million for Q1 2022, up from $1.1 million in Q1 2021. The company's DetermaRx™ revenue increased to $1.0 million. Operating expenses decreased to $9.4 million from $11.4 million, but net loss rose to $10.3 million, with a loss per share of $0.11. Key developments included the launch of the TheraSure™ test and a $32.8 million equity financing to bolster their portfolio. Looking ahead, Oncocyte is set to present DetermaIO™ data at ASCO in June and aims for reimbursement submissions of three oncology tests within 12-18 months.
Oncocyte Corporation has announced the completion of its proprietary TheraSure™ Transplant Monitoring test for liver transplant patients. This marks the first product launch following the acquisition of Chronix Biomedical in April 2021. The test utilizes a digital PCR technique to detect early rejection episodes, providing timely post-transplant treatment modifications, potentially within one to two days of blood sample receipt. Oncocyte aims to expedite validation for kidney and heart transplants as well. The test addresses a significant unmet need in liver transplantation, backed by peer-reviewed data.
Oncocyte Corporation (Nasdaq: OCX) announced the release of its first quarter 2022 financial results on May 11, 2022. The company will host a conference call and webcast that day at 1:30 p.m. PT / 4:30 p.m. ET to discuss the results and recent highlights. Oncocyte focuses on precision diagnostics, offering tests like DetermaRx™ and DetermaIO™ to enhance cancer treatment decision-making and improve patient outcomes. The replay of the conference will be available on the company's website post-call.
Oncocyte Corporation (Nasdaq: OCX) announced plans to present new clinical research data on DetermaIO™ at the ASCO Annual Meeting scheduled for June 3-7, 2022. The research evaluates the 27-gene IO score for predicting responses to immune checkpoint therapies in patients with metastatic colorectal, gastric, and breast cancers. Three abstracts will be presented throughout the meeting, highlighting the potential of DetermaIO in personalizing cancer treatments. The company will also support a CME event discussing advancements in molecular diagnostics.
Oncocyte Corporation (Nasdaq: OCX) announced a public offering of 26,266,417 shares of its common stock priced at $1.3325 each, along with warrants for 13,133,208.5 shares, expected to raise approximately $35 million before expenses. The offering is set to close by April 19, 2022. Funds will support commercialization of DetermaRx™, DetermaIO™, and TheraSure™, as well as collaboration with Life Technologies Corporation for regulatory approval of their tests. The underwriters have a 30-day option for additional shares to cover over-allotments.
Oncocyte Corporation (Nasdaq: OCX) has initiated an underwritten public offering of common stock and warrants, with plans to grant underwriters a 30-day option for an additional 15% of shares. The offering's completion is subject to market conditions. Proceeds will primarily support the commercialization of DetermaRx™, the development of DetermaIO™ and TheraSure™, and other tests in its pipeline, alongside costs from a collaboration with Life Technologies Corporation. A shelf registration statement was previously declared effective in June 2021.
Oncocyte Corporation (Nasdaq: OCX) announced a registered direct offering of 11,765 shares of Series A Convertible Preferred Stock, convertible into 7,689,542 shares of common stock at $1.53 per share. The offering aims to raise approximately $10 million in gross proceeds to enhance commercialization of DetermaRx™, DetermaIO™, and TheraSure™, among others. The Preferred Stock carries a 6% annual dividend and requires redemption by April 8, 2024 if not converted. There is no public trading market for the Preferred Stock.
Oncocyte Corporation (Nasdaq: OCX) announced findings from a real-world cohort study demonstrating that its DetermaIO test can effectively predict responses to immunotherapy in patients with bladder cancer. The study validated the test's capacity to identify responders to immune checkpoint inhibitors (ICIs) and confirmed previous results from the IMvigor210 trial. DetermaIO, launched in Q4 2021, assesses the tumor microenvironment, providing critical insights that could improve patient treatment decisions and outcomes. The findings were presented at the AACR Annual Meeting 2022.
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