OncoCyte will cease further development of a liquid biopsy test that used an immune system interrogation approach to clarify whether patients’ lung nodules are benign.
The firm has collected important health economic evidence for its clinical lung cancer assay and is building evidence for other products in additional cancer types.
The company recently received Medicare coverage for the DetermaRx assay that it brought to market through its acquisition of Razor Genomics late last year.
The agreement reflects Oncocyte's strategy to establish distribution partners with existing oncology channels to extend the reach of its tests globally.
Two recent acquisitions have resulted in the swift launch of two assays, one for the clinic and another for research use, as the firm's original test finally nears validation.
The company reported a net loss of $8.0 million, or $.15 per share, as it saw increased costs associated with its transition to commercial test provision.
The company announced an agreement with Piper Sandler & Co. to act as agent, creating an at-the-market equity program for up to $25 million in shares of its common stock.
Florida Politics reports Florida's law barring life, long-term care, and disability insurers from using genetic information in coverage decisions went into effect at the beginning of July.
