OncoCyte Corp ( (IMDX) ) has released its Q2 earnings. Here is a breakdown of the information OncoCyte Corp presented to its investors.
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Insight Molecular Diagnostics Inc., formerly known as OncoCyte Corp, is a diagnostics technology company focused on democratizing access to molecular diagnostic testing, primarily in the field of transplant rejection and oncology. The company is based in Nashville, Tennessee, and is known for its innovative approach to creating kitted assays for localized diagnostic testing.
In its latest earnings report, Insight Molecular Diagnostics highlighted significant progress towards the launch of its GraftAssureDx transplant monitoring assay. The company reiterated its timeline for FDA submission by the end of 2025 and noted the successful attraction of leading transplant hospitals to its clinical trials. Additionally, the company reported its first revenue from the sale of its GraftAssureIQ research-use-only kits.
Key financial metrics from the second quarter of 2025 include a reported revenue of $518,000, primarily from laboratory services, and a gross profit of $350,000, representing a 67.6% gross margin. The company also reported a net loss of $9.7 million for the quarter. Strategic announcements included the completion of a productive meeting with the FDA, the listing of top transplant hospitals in its clinical trials, and a boost in Medicare reimbursement for its flagship technology.
The company continues to focus on its ‘Land and Expand’ strategy, with the sale of its first GraftAssureIQ kits marking a key milestone. Insight Molecular Diagnostics is also making strides in its oncology pipeline, with a new patent for colorectal cancer detection and a development letter of intent for its DetermaIO assay.
Looking ahead, Insight Molecular Diagnostics remains committed to its goal of submitting GraftAssureDx for FDA review by the end of the year. The company is also exploring potential expansions into other transplant rejection testing areas, leveraging its cfDNA platform to broaden its clinical offerings and market opportunities.