Oncocyte Corporation Stock Price, News & Analysis

Oncocyte Corporation (Nasdaq: OCX) has launched its new transplant monitoring test, VitaGraft™, entering the $2B US market for Kidney and Liver indications. Following the completion of clinical validation, the company is initiating an Early Adopter Program to facilitate access for leading transplant centers. VitaGraft, built on patented technology, boasts negative predictive values over 97%, potentially reducing unnecessary biopsies by 30%. Oncocyte is also developing an IVD assay and plans for US FDA submission, aiming for improved patient management in the transplant community.

Oncocyte Corporation (OCX) announced that its proprietary test, DetermaIO™, was showcased at the ESMO World Congress 2022. This test predicts the efficacy of immune checkpoint inhibitors (ICIs) for patients with metastatic colorectal cancer (mCRC), particularly the 95% of patients currently deemed ineligible for treatment. The study found that 27% of participants were DetermaIO positive, significantly correlating with improved progression-free survival (PFS). The company's CEO noted the potential for DetermaIO to become a companion diagnostic for ICI therapy, indicating a major opportunity for patient benefit.

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.