Oncocyte Corporation Stock Price, News & Analysis

Oncocyte Corporation (OCX) presented data on its DetermaIO™ test at the AMP 2020 Virtual Conference. This CLIA validated test utilizes real-time PCR to assess 27 genes, predicting responses to immune checkpoint inhibitors in non-small cell lung cancer and triple-negative breast cancer. Data show DetermaIO requires as little as 2mm² of tissue, significantly less than other tests. This advancement may increase patient eligibility for immunotherapy and improve clinical decision-making. Oncocyte aims to launch DetermaIO for clinical use, enhancing cancer diagnosis and therapy options.

Oncocyte Corporation (NYSE American: OCX) reported significant progress in Q3 2020, achieving its first Medicare revenues for DetermaRx™ after receiving final CMS pricing. The test volume for DetermaRx more than doubled from the previous quarter, and the company anticipates near-term revenue from DetermaIO™ in checkpoint inhibitor trials. The collaboration with Chronix on TheraSure™-CNI MONITOR is expected to enhance revenue opportunities. However, the company reported a net loss of $6.8 million. With cash reserves of $10.7 million, Oncocyte aims for growth across its four revenue engines going forward.

Oncocyte Corporation (NYSE American: OCX) has announced plans to present data on its DetermaIO™ test at the Society for Immunotherapy of Cancer (SITC) 2020 Virtual Conference. This test aims to identify effective therapeutic options for patients with immune checkpoint inhibitor (ICI) resistance, particularly in non-small cell lung cancer (NSCLC) and triple-negative breast cancer (TNBC). The findings suggest DetermaIO could help predict patient responses to ICIs, addressing a critical need in the growing $3B ICI therapy selection testing market.

Oncocyte Corporation (NYSE American: OCX) announced it will release its third-quarter financial results on November 12, 2020, after market close. A conference call will follow at 4:30 pm ET to discuss the results and recent corporate developments. Oncocyte focuses on molecular diagnostics to enhance cancer care through tests like DetermaRx for lung cancer recurrence risk and DetermaIO for immunotherapy responses. The company aims to improve treatment outcomes and drive revenue growth through its proprietary tests and pharmaceutical services.

Oncocyte Corporation has been recognized as one of the Top 5 Best Places to Work in Orange County for 2020, ranking 4th among medium-sized companies. This accolade, awarded by the Orange County Business Journal and Best Companies Group, evaluates workplace policies and employee experiences. With a commitment to delivering actionable insights in cancer care, Oncocyte emphasizes the importance of its talented, mission-driven team. This recognition highlights the company's growth potential in the molecular diagnostics industry.

Oncocyte Corporation (NYSE American: OCX) reports significant growth in testing volume for DetermaRx, its treatment stratification test for early-stage lung cancer. In Q3 2020, testing volume more than doubled to 175 samples, with a reorder rate of approximately 60%. Adoption has expanded to 67 hospitals, including NCCN and NCI centers, with international distribution initiated through an agreement with GenCell. The company anticipates continued growth through its other revenue streams, DetermaIO and Pharma Services, positioning it toward profitability.

Oncocyte Corporation (NYSE: OCX) announces that new data on DetermaRx™, a treatment stratification test for stage I-IIA non-small cell lung cancer (NSCLC), will be presented at the IASLC 2020 Conference on Lung Cancer. The study involved 250 patients, showing a 94% success rate in cancer-free patients opting for chemotherapy, while only 5% of low-risk patients faced recurrence. The integration of DetermaRx with EGFR mutation testing is set to commence this quarter, aiming to enhance treatment strategies. The data signifies DetermaRx’s rising adoption across hospitals and its reimbursement by Medicare.

Oncocyte Corporation (NYSE American: OCX) has announced a strategic collaboration with Fondazione Michelangelo to evaluate DetermaIO™ as a biomarker for response in triple-negative breast cancer (TNBC). This investigator-sponsored trial aims to generate short-term pharmaceutical services revenue and could support a U.S. clinical launch in late 2021. Initial studies suggest that DetermaIO outperforms existing biomarkers in predicting responses to PD-1 therapies. The partnership is part of Oncocyte's strategy to penetrate the ~$3B immunotherapy market, identifying eligible patients more accurately for treatment.

Oncocyte Corporation (NYSE American: OCX) announced that CEO Ronald Andrews and CMO Doug Ross will participate in the Lake Street Capital Markets 4th Annual Best Ideas Growth Conference on September 17, 2020. The company focuses on molecular diagnostics to enhance cancer care, striving to improve patient outcomes. Recently, Oncocyte launched DetermaRx™, a test that identifies early-stage lung cancer patients at elevated risk for recurrence, and is developing DetermaIO™, a test for checkpoint immunotherapy responders.