Oncocyte Corporation Stock Price, News & Analysis

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.

Oncocyte Corporation (NYSE American: OCX) announced a favorable pricing decision from CMS for its DetermaRx™ test, which identifies high-risk early-stage lung cancer patients for chemotherapy. This decision confirms pricing within expected ranges and positions Oncocyte for immediate revenue growth. With approximately 70% of eligible patients being Medicare beneficiaries, the company anticipates increased uptake and market expansion, addressing a global market estimated at $450M - $500M. Oncocyte experienced 100% quarter-over-quarter growth in patient testing and has onboarded 55 hospitals to date.

Oncocyte (NYSE American: OCX) will present at the LD 500 investor conference on September 3, 2020, at 12:20 PM PST / 3:20 PM EST. CFO Mitch Levine and CMO Dr. Doug Ross will address a live virtual audience. This event runs from September 1-4 and aims to showcase unique companies in the capital markets amid the COVID pandemic. Oncocyte focuses on improving cancer diagnosis and treatment with its launched product, DetermaRx, a test for lung cancer recurrence, and is developing DetermaIO, which identifies immunotherapy responders.

Oncocyte Corporation (NYSE American: OCX) announced the appointment of Dr. Jennifer Levin Carter to its Board of Directors. Dr. Carter, a leader in precision medicine in oncology, previously served as VP, Head of Precision Health at Integral Health and CEO of N-of-One. Her expertise will be crucial as Oncocyte enhances its molecular diagnostics offerings, including DetermaRx™ and DetermaIO™. These tests aim to improve patient outcomes by identifying suitable cancer treatments and enhancing predictive capabilities in immunotherapy.