From GlobeNewswire: 2025-03-24 16:05:00

Oncocyte Corp. reported Q4 2024 revenue of $1.5 million in pharma services, with full year revenue reaching $1.9 million. The company launched the GraftAssure RUO assay, signed a strategic partner and investor, Bio-Rad Laboratories, and fully funded clinical kitted product development with over $50 million in equity raises.

The company is focused on delivering a regulated organ transplant rejection monitoring test kit to the market next year. The test kit is expected to generate future revenue within a few years. Oncocyte is making progress with a multi-center clinical trial, expanding commercial sales of the GraftAssure RUO test kit, and strengthening relationships with strategic partners.

Oncocyte aims to democratize access to transplant testing by achieving FDA and EU regulatory authorization for their kitted test. The company’s research-use-only transplant assay has received positive feedback from leading transplant centers, reinforcing the potential for clinical use of digital PCR technology for transplant rejection testing.

In 2024, Oncocyte achieved Medicare claims expansion for transplant rejection monitoring with their VitaGraft Kidney assay. The company attracted a key strategic partner and investor, Bio-Rad Laboratories, and advanced the science of transplant and oncology. The company also had a productive meeting with the FDA, targeting FDA authorization for their kitted product in 2026.

Oncocyte’s financial overview for Q4 2024 showed a gross profit of $595,000 and operating expenses of $34.2 million. The company fully funded clinical assay development and streamlined its capital structure, raising $57 million in equity. The team was strengthened with key hires, including a new Chief Financial Officer and Consulting Chief Medical Officer.

The company’s goals for 2025 include finalizing the clinical assay design, conducting a clinical trial, and aiming for $2 million in revenue from transplant centers. Oncocyte is focused on commercializing their tests, expanding market share in the transplant rejection testing market, and solidifying their leadership in the space.



Read more at GlobeNewswire:: Oncocyte Reports Successful 2024; Sets Stage for 2025