OCX - Earnings call transcript Q1 2024

we've Thanks, XXXX, XXXX off kicked at to the for everyone thank impressive strong Jeff, with you and momentum joining today. in OncoCyte. on strides Building

across be aspects XX will milestones, to next unprecedented the creation expect We on XX business. of we all months multiple company for the driving value our as execute

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help fact, regulated shift time. these focus kits industry may In to of rules the towards over our

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test physicians evaluating benefit patients immunotherapy, responses to DetermaIO tracks to which from Our aids test DetermaCNI cancer while are in therapies. patients' our likely

significant $X diagnostics billion, markets we billion see opportunities U.S. the With as for development. continue these products and their respectively, at valued these $X partnership

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Our is deeply OncoCyte, testing outlook rooted our in diagnostic fulfilling strong at market. core our growth the mission about excitement democratizing

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first over does and to products. reflect and kitted it our decline, testament development revenue shift compared building net research quarter early products. a developing same In XXXX, efforts the for on in commitment of saw financials. the commercial a in focus to momentum our We XXXX. This is X% to by period we although We'll the our kitted increase are the innovation to not expenses our increased

sales XX%, expenses our activities. and driven and largely Additionally, intensified by our marketing in rose commercialization efforts by sales

initiatives compensation because in the streamline and to personnel stock-based our financial On by general efficiency. and expenses reductions costs. flip Reflecting our administrative ongoing decreased XX%, enhance operations side, primarily of and

our metrics continuing to to in operational and future. clearly dedication while growth invest key Our demonstrate our efficiency

the at our Our decrease net development in commercialization. product $XXX,XXX, quarter same from investments a for revenue to period XX% in XXXX, the due strategic predominantly stood

growth these We value. investments shareholder confident are will and drive long-term increase

continued On improvement leaving we hand. $X.X at cash $X.X in declined is cost sheet. reserves the reductions in to to our benefit the cash Cash million QX undertook the XX% on XXXX. million from year-over-year. a balance quarter, burn in This

our the operating quarter of period income $X.XX first was of sheet per the or $X.X for million, in share of compared to in XXXX. to million mentioned quarter increase $XX.X to XXXX. financing from net balance million in as for million equity quarter Non-GAAP added $X per earlier, an $X for net first continuing first operations $X.XX the share As same or April. cash compared as the GAAP loss our was loss adjusted $XXX,XXX

GAAP have financial website losses available included is earnings at operating tables between the oncocyte.com. non-GAAP in We with provided release, reconciliation at our our and which a our

DetermaIO catalysts reimbursement in the and of to key GraftAssure the of of like the VitaGraft, kidney our reimbursement test, areas, generation reflected presented DetermaCNI. kitted VitaGraft of the kidney for financial claims and remarks, global data In for of launch in coverage have XXXX. and of include new CNI, our of all assays as VitaGraft's key especially several publication publication closing supporting focus statements. Razor OncoCyte We developing DetermaIO for next as These in data DetermaRx operations support for the lab-developed periods product versions anticipates discontinued and the RUO, operations

research researchers to and expanding role of By straightforward the We advanced oncology. out its new the boost expect XXXX. progress at phase care. FDA carving in Asia ongoing in everyday foresee QX and make a results pathways sector our exciting activities leading for we VitaGraft IVD efforts to aiming starting labs and to in from delivering U.S., world our the significant most with Additionally, by alongside commercialization to fast the needing end the for EU is on Kidney date. we're times, with record of growth turnaround marketing tools sales, clearance now line in our institutions patient transplant around OncoCyte

and should strategic recent moves test way and us Financially, for low of to shown disciplined as innovation. first by our build million our business capital-light $XX.X from placement, our million modest the keep is commercialize burn to the with on our our approach cash quarter, burn $X.X model profitability. sustained clear, the in enable and growth our boost positioned revenue private Coupled our and we're well we

As investment with begin interact few months. next over also plan more to we launch, our the the product community frequently we

cities Investor investors a you'd investor If plan U.S. And oriented contact you're an institutional of schedule then next meet over the investor of any long-term if us or a OncoCyte recent type, website months. oncocyte.com. sections business please look please like Relations to meeting. a I deck take company other few a with most number range our to in time of in about at find information it, slide you at can and On the our opportunities. and to meanwhile, the of the the

to We team, their support this partners our our heartfelt their extend transformative shareholders unwavering on belief for journey. vision thanks our and and in continued

care our democratize patient fuels commitment trust Your through innovative to diagnostics.

back the portion. turn call for Q&A over the I'll

Joshua Riggs	executive
Michael Matson	analyst
Mason Carrico	analyst

OncoCyte (OCX) 15 May 242024 Q1 Earnings call transcript