OncoCyte Corporation (NASDAQ: ), a diagnostics and surveillance company, saw its stock price fall to a 52-week low, falling to $1.92. According to InvestingPro According to the data, the financial performance of the company is rated as WEAK, with worrying indicators that include a current ratio of 0.53 and a negative EBITDA of -$21.56 million. This latest price level reflects a significant drop from the previous year, with the stock experiencing a 1-year change of -38.25%. Investors are watching OncoCyte closely as it goes through a challenging period in the market, s InvestingPro analysis reveals that the company is spending money quickly and analysts do not predict profitability this year. The current 52-week low serves as a critical point for the company, as market participants consider the stock’s future trajectory in light of its recent performance. For deeper insights, including 5 additional ProTips and comprehensive valuation metrics, explore the full Pro Research Report available on InvestingPro.
In other recent news, Oncocyte Corp made several notable announcements. The company amended its lease agreement with Cushing Ventures, LLC, setting an expiration date of October 31, 2027 and reducing the amount of its letter of credit beginning in July 2025. The move could potentially ease Oncocyte’s cash security requirements.
In addition, Oncocyte appointed Dr. Paul Billings, an expert in genomics and precision medicine, as his chief advisor Medical (TASE:) Policeman. This appointment comes as the company faces financial challenges, with a current ratio of 0.53, indicating potential liquidity issues.
The company also announced that Medicare has expanded coverage for its VitaGraft Kidney Test, a development that could significantly improve early detection of transplant rejection. Moreover, Oncocyte’s DetermaCNI™ test has shown potential as a non-invasive method for diagnosing central nervous system tumors, a development that could impact the approximately 300,000 US patients diagnosed with tumors annually.
Oncocyte is also making progress in the transplant diagnostics market with the successful launch of its GraftAssure RUO product and the expected launch of its VitaGraft Kidney kitted test in the fourth quarter of 2025, pending FDA approval. The company aims to secure contracts with at least 20 transplant centers by the end of 2025. Analysts at Needham maintained their buy rating on Oncocyte, following these positive developments.
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