IRVINE, Calif., Oct. 16, 2024 (GLOBE NEWSWIRE) -- Oncocyte Corp. (NASDAQ: OCX), a diagnostics technology company, announced today that CEO Josh Riggs is scheduled to present at the 17th annual Main Event, hosted by LD Micro, on Tuesday, October 29th in Los Angeles. Oncocyte management will also be available for one-on-one meetings with investors. To schedule a one-on-one meeting, please contact Julie Silber at PCG Advisory (jsilber@pcgadvisory.com) or request a meeting via the LD Micro Conference platform. ...

Oncocyte's DetermaIO Immuno-Oncology Assay Predicts Response to Atezolizumab in Phase 2 Clinical Trial Results published in peer-reviewed journal, Clinical Cancer Research Study validates DetermaIO's utility in identifying breast cancer patients most likely to benefit from atezolizumab DetermaIO targets a multi-billion-dollar addressable market in oncology diagnostics IRVINE, Calif., October 8, 2024 – PRISM MediaWire – Oncocyte Corp. (Nasdaq: OCX), a diagnostics technology company, announced the peer-review ...

GraftAssure™ research assay adopted by two research hospitals that are top-five-in-country by organ transplant volume Company clears first stage gate in clinical product development process and has submitted a Q-Sub to the FDA IRVINE, Calif., Oct. 02, 2024 (GLOBE NEWSWIRE) -- Oncocyte Corporation (Nasdaq: OCX) ("Oncocyte" or the "Company"), a diagnostics technology company, today announced that its new customers include two leading transplant university hospitals in the U.S. and Germany. Both have entered i ...

IRVINE, Calif., Aug. 12, 2024 (GLOBE NEWSWIRE) -- Oncocyte Corp. (Nasdaq: OCX), a molecular diagnostics technology company, announced the recent publication of a case series of two kidney transplant patients who were monitored for antibody-mediated rejection (AMR) using its proprietary VitaGraft™ Kidney diagnostic test. Patients were tested before, during and after treatment with daratumumab, an anti-CD38 monoclonal antibody1. The study underscores the significant potential of using repeated VitaGraft Kidne ...

Product Launch and Market Strategy - Oncocyte successfully launched GraftAssure, a research-use-only assay for detecting early graft organ damage, with initial tests conducted at major transplant centers in the US and Southeast Asia[1][2] - The US sales funnel for GraftAssure includes transplant centers representing approximately 25% of US transplant volumes, equating to over 11,000 transplants annually[3][4] - The company aims to have more than 20 transplant centers running GraftAssure tests by the end of 2025, with each center potentially generating annual revenue of $400,000 to $2 million[12] - Oncocyte's total addressable market for its diagnostic tests is estimated at $1 billion, with a land-and-expand strategy focused on major transplant centers and research universities[7][8] - The company has established partnerships, including with Bio-Rad Laboratories, to support the global launch of GraftAssure and co-market the product in the US and Germany[4][5] - The Increasing Organ Transplant Access Model legislation, effective January 1, 2025, is expected to increase demand for dd-cfDNA testing due to higher rates of adverse events[14] Financial Performance - Revenue for Q2 2024 was $104,000, primarily from pharma services in Nashville[20] - Gross profit was $50,000, reflecting fixed operating costs of the Nashville CLIA laboratory[20] - Operating expenses totaled $4.7 million, with a 5% sequential decrease and a 9% year-over-year decrease when excluding non-cash items[20] - Research and development expenses increased by approximately 6% sequentially to $2.5 million[20] - General and administrative expenses fell by 10% sequentially to $2.4 million, indicating cost discipline[20] - Loss from continuing operations was $4.5 million, equating to $0.36 per share[20] - Cash and cash equivalents at the end of Q2 were approximately $11.0 million, an increase of $3.7 million sequentially[20] - The company raised approximately $9.9 million in a private placement on April 11, 2024, after expenses[20] - The total assets as of June 30, 2024, were $74.72 million, a slight decrease from $74.89 million in 2023[25] - Total liabilities increased to $52.02 million from $49.30 million in 2023, primarily due to contingent consideration liabilities[25] - Net revenue for June 2024 was $104,000, a decrease of 77.5% compared to $463,000 in June 2023[26] - Total operating expenses decreased to $4,682,000 in June 2024 from $8,566,000 in June 2023, representing a reduction of 45.5%[26] - Net loss for June 2024 was $4,530,000, down from a net loss of $8,333,000 in June 2023, indicating a 45.5% improvement[26] - Research and development expenses remained stable at $2,453,000 in June 2024 compared to $2,435,000 in June 2023[26] - Cash used in operating activities was $5,978,000 for the three months ended June 30, 2024, compared to $6,832,000 for the same period in 2023[27] - Proceeds from the sale of common shares amounted to $15,807,000 in June 2024, compared to $13,848,000 in June 2023[27] - Ending cash and cash equivalents were $10,956,000 as of June 30, 2024, compared to $19,068,000 at the same date in 2023[27] - The company reported a gross profit margin of 69% for the three months ended June 30, 2024, compared to 63% for the same period in 2023[26] - The weighted average shares outstanding increased to 12,870,000 in June 2024 from 8,090,000 in June 2023[26] - The company experienced a significant reduction in general and administrative expenses, which fell to $2,407,000 in June 2024 from $3,531,000 in June 2023, a decrease of 31.9%[26] Operational Efficiency and Future Strategies - The company aims to improve its financial performance by focusing on reducing operational losses and managing expenses effectively[28] - Future strategies may include further adjustments in stock-based compensation and careful monitoring of contingent considerations to stabilize financial results[28] - The company continues to evaluate its operational efficiency and explore avenues for market expansion and product development[28] - The FDA clearance process for the in-vitro diagnostic (IVD) product is targeted for late 2025, with a Q-Sub submission planned for feedback by the end of 2024[15][16] - Oncocyte's new CFO, Andrea James, brings extensive experience in financial strategy and capital stewardship, which will support the company's growth initiatives[17][18] - The company is focused on increasing throughput for its tests through automation, which will support ongoing clinical trials and data generation for its IVD program[6]

Oncocyte Announces Successful GraftAssure Beta Launch and Q2 2024 Results Interest in kidney transplant assay represents approximately 25% of US transplant volume Company lays out land and expand strategy in transplant IRVINE, Calif., August 8, 2024 (GLOBE NEWSWIRE) — Oncocyte Corp. (Nasdaq: OCX), a diagnostics technology company, today published its second quarter 2024 results and the following letter to shareholders. Dear shareholders, We are thrilled to report that we have successfully launched GraftAssu ...

Core Viewpoint - Oncocyte Corp. will announce its second quarter 2024 financial results on August 8, 2024, followed by a conference call and webcast to discuss the results and highlights [1]. Company Overview - Oncocyte is a diagnostics technology company focused on providing clarity and confidence to physicians and patients through its tests [1]. - The company's key products include: - VitaGraft™, a clinical blood-based solid organ transplantation monitoring test - GraftAssure™, a research use only (RUO) blood-based solid organ transplantation monitoring test - DetermaIO™, a gene expression test assessing the tumor microenvironment to predict response to immunotherapies - DetermaCNI™, a blood-based monitoring tool for therapeutic efficacy in cancer patients [1]. Conference Call Details - The conference call will take place on August 8, 2024, at 5:00 p.m. Eastern Time, with a toll-free dial-in number for participants [1]. - A live webcast will be available on the company's website, and a replay will be accessible shortly after the call concludes [1].

In this episode, Riggs highlights Oncocyte's innovative strategies in molecular diagnostic technology and the significant impact of this technology on patient care. Hosted by Tom Hickey, a partner at Excelerant Consulting and a seasoned expert in medical device commercialization, the episode delves into Riggs' journey at Oncocyte, from his start as Senior Director of Business Development and General Manager of the Transplant Division to his leadership as CEO. The discussion also explores his entrepreneurial ...

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Oncocyte Appoints Andrea James as Chief Financial Officer "We are thrilled to welcome Andrea as we approach the inflection point of commercial launch," Oncocyte CEO Josh Riggs said. "She has a proven track record of guiding financial strategy through multiple phases of growth, raising and stewarding capital, and building relationships with high quality institutional investors. Andrea is therefore an ideal CFO business partner to myself, the Board of Directors and the Oncocyte team. "We expect 2024 and 2025 ...