Welcome to our dedicated page for Oncocyte news (Ticker: OCX), a resource for investors and traders seeking the latest updates and insights on Oncocyte stock.
Oncocyte Corporation develops molecular diagnostic technologies focused on solid organ transplant monitoring and oncology. Company news centers on its blood-based transplant rejection assays, including GraftAssure research-use-only kits, VitaGraft clinical monitoring tests, and the GraftAssureCore lab-developed test, along with reimbursement updates, clinical publications, and development of regulated kitted products for transplant centers.
Updates also cover quarterly results, pharma services activity from its laboratory operations, strategic relationships such as Bio-Rad, capital actions, investor conference participation, and oncology assays such as DetermaIO and DetermaCNI.
Oncocyte Corporation (NYSE American: OCX) has announced significant progress as it begins generating revenue. The company has received its first diagnostic revenue for its test DetermaRx™ from multiple commercial payers and has initiated Medicare claims submissions. DetermaRx™, a predictive test for Stage I-IIA non-squamous NSCLC patients at high risk for recurrence, is now set to improve clinical outcomes and healthcare economics. The company reports consistent month-over-month increases in test volumes, marking a pivotal transition to a commercial stage operation.
Oncocyte Corporation (NYSE American: OCX) announced presentations at the 2020 ASCO, focusing on the DetermaIO™ test and its application in triple-negative breast cancer (TNBC). The results suggest that DetermaIO could identify patients likely to respond to checkpoint inhibitor therapy. Additionally, the DetermaRx™ test presents potential healthcare savings of up to $450 million through improved disease-free survival for lung cancer patients. The company aims to make DetermaRx more accessible following recent Medicare coverage changes.
Oncocyte Corporation (OCX) announced significant advancements in its molecular diagnostics, particularly with DetermaRx™, which may be covered by Medicare for 70% of eligible early-stage NSCLC patients. The company secured international collaboration with CORE Diagnostics for DetermaRx™ distribution in India and the Middle East. Financial results showed a net loss of $7.7 million for Q1 2020, up from $3.9 million in the previous year, largely due to increased operational costs. Cash reserves were at $16.9 million as of March 31, 2020. The company continues to expand its pharma services and aims for broader reimbursement options.
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