Oncocyte corp CFO James Andrea acquires $45,800 in inventory

On December 5, 2024, James Andrea, the Chief Monetary Officer of Oncocyte Corp (NASDAQ:OCX), made a notable acquisition of the corporate’s inventory. In line with a current SEC submitting, Andrea bought 20,000 shares of Oncocyte’s widespread inventory at a value of $2.29 per share. The transaction comes as the corporate, at present valued at $41.25 million, trades close to its Honest Worth in keeping with InvestingPro evaluation. This transaction, totaling $45,800, will increase Andrea’s direct possession to 53,670 shares. The acquisition displays Andrea’s continued funding within the Irvine, California-based biotech firm, which makes a speciality of diagnostic substances. InvestingPro information reveals the corporate faces important monetary challenges, with a weak monetary well being rating and speedy money burn price. Subscribers can entry 7 extra ProTips and complete evaluation within the Professional Analysis Report, providing essential insights for buyers monitoring insider strikes within the biotech sector.

In different current information, Oncocyte Corp. has revealed important strides in non-invasive mind tumor prognosis and transplant diagnostics. The corporate’s analysis suggests its DetermaCNI™ assay might supply a safer, much less invasive methodology for diagnosing central nervous system tumors, probably impacting the roughly 300,000 U.S. sufferers recognized yearly with main mind tumors or metastasis. This improvement might signify a $300 million market alternative within the U.S. alone, considerably larger than the corporate’s present trailing twelve-month income of $0.71 million.

Moreover, Oncocyte is making strides within the transplant diagnostics market with the profitable launch of its GraftAssure RUO product. The corporate is making ready for the launch of its upcoming VitaGraft Kidney kitted take a look at, anticipated to launch within the fourth quarter of 2025, pending FDA approval. Oncocyte goals to safe agreements with at the least 20 transplant facilities throughout the US and Germany by the top of 2025.

In monetary phrases, Oncocyte lately raised about $9 million, bolstering its professional forma money reserves to roughly $15 million. The corporate’s monetary self-discipline is mirrored in its efforts to take care of its quarterly money burn price at roughly $6 million. Analysts from Needham maintained their Purchase score for Oncocyte, following these constructive developments. These are among the many current developments for Oncocyte Corp.

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