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OncoCyte ( (OCX) ) has provided an update.
On February 7, 2025, Oncocyte Corporation announced the entry into two securities purchase agreements involving a registered direct offering and a private placement, expected to close around February 10, 2025. The transactions are anticipated to generate approximately $29.1 million in gross proceeds, intended to fund the development of Oncocyte’s FDA In-Vitro Diagnostic transplant assay program. Bio-Rad Laboratories, a key strategic partner, participated in the funding round and pledged support for trial and commercialization efforts, highlighting its strategic partnership. The company aims to use the proceeds for general corporate purposes and to advance its mission of improving patient outcomes through innovative diagnostic solutions.
More about OncoCyte
Oncocyte is a leading diagnostics technology company specializing in tests designed to provide clarity and confidence to physicians and their patients. The company’s key products include VitaGraft™, a clinical blood-based solid organ transplantation monitoring test; GraftAssure™, a research use only blood-based solid organ transplantation monitoring test; DetermaIO™, a gene expression test assessing tumor microenvironment for predicting immunotherapy response; and DetermaCNI™, a blood-based tool for monitoring therapeutic efficacy in cancer patients.
YTD Price Performance: -13.73%
Average Trading Volume: 91,120
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $33.84M
See more insights into OCX stock on TipRanks’ Stock Analysis page.
