In This Story
Oncocyte Corporation (OCX+2.34%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details a net loss of $60.7 million for the year, compared to a loss of $27.8 million in the previous year. The increase in loss is attributed to impairment charges on intangible assets and changes in fair value of contingent consideration.
Revenue increased to $1.9 million from $1.5 million in 2023, primarily driven by Pharma Services. The company noted a shift in strategic focus towards commercializing transplant kitted tests.
Research and development expenses rose to $9.8 million, reflecting ongoing development of GraftAssureCore, GraftAssureIQ, GraftAssureDx, DetermaIO, and DetermaCNI.
Sales and marketing expenses increased to $3.9 million, attributed to ramped-up activities related to the transplant business and oncology commercialization efforts.
General and administrative expenses decreased to $10.2 million, primarily due to reductions in facilities costs, stock-based compensation, and severance costs.
The company reported total assets of $35.1 million and total liabilities of $47.4 million as of December 31, 2024.
Oncocyte continues to focus on its strategic markets in organ transplant and oncology, aiming to improve patient outcomes through novel molecular diagnostic testing.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Oncocyte Corporation annual 10-K report dated March 24, 2025. To report an error, please email earnings@qz.com.