{"id":747176,"date":"2023-04-12T16:24:44","date_gmt":"2023-04-12T20:24:44","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/oncocyte-announces-reduction-in-force\/"},"modified":"2023-04-12T16:24:44","modified_gmt":"2023-04-12T20:24:44","slug":"oncocyte-announces-reduction-in-force","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/oncocyte-announces-reduction-in-force\/","title":{"rendered":"Oncocyte Announces Reduction in Force"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">IRVINE, Calif., April  12, 2023  (GLOBE NEWSWIRE) &#8212; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=J66SKvSj7KatI989_MnNr01pXpNvFXoCVkVAxC94XbYmg_QuLk8QTBNYqd1HCP1uOoysh5gnnuIb7jCcvknBPEzjv_ZLIqPJKdaipdrWLt9v9leiAoA1pEDlWCr4ABEvicL-Qq46FzDqGT5FPH45dWsU_UdUzfroaM3xpC2BYpc5MjTlYFxV4rIyKs3F-QtjcZ___x6x6WTKMl53XUQ4k7YhAKntTlguwm-xSsidUefldz2jiX44oobI5qwSs6njEKATbn_KXUZi6zkmKLVLUw==\" rel=\"nofollow noopener\" target=\"_blank\">Oncocyte Corporation\u00a0<\/a>(Nasdaq: OCX), a precision diagnostics company, today announced a reduction in force involving approximately 20% of its workforce, which management believes will extend Oncocyte\u2019s cash runway in 2024.<\/p>\n<p align=\"justify\">\u201cAs part of our efforts to bring our cost structure in line with our kitted product strategy and to optimize our operational efficiency, we reduced our team by approximately 20%,\u201d said Joshua Riggs, CEO. \u201cThose impacted have always put patients first in everything they do. We are grateful for their dedication and service to the clinical community.\u201d<\/p>\n<p align=\"justify\">\n        <strong>About Oncocyte<\/strong>\n      <\/p>\n<p align=\"justify\">Oncocyte is a precision diagnostics company. Oncocyte\u2019s tests are designed to help provide clarity and confidence to physicians and their patients. DetermaIO\u2122 is a gene expression test that assesses the tumor microenvironment to predict response to immunotherapies. VitaGraft\u2122 is a blood-based solid organ transplantation monitoring test, and pipeline test DetermaCNI\u2122 is blood-based monitoring tool for monitoring therapeutic efficacy.<\/p>\n<p>DetermaIO\u2122, DetermaCNI\u2122, and VitaGraft\u2122 are trademarks of Oncocyte Corporation<\/p>\n<p>\n        <strong>Forward-Looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">Any statements that are not historical fact (including, but not limited to statements that contain words such as \u201cwill,\u201d \u201cbelieves,\u201d \u201cplans,\u201d \u201canticipates,\u201d \u201cexpects,\u201d \u201cestimates,\u201d \u201cmay,\u201d and similar expressions) are forward-looking statements. These statements include those pertaining to, among other things, the expectation that Oncocyte will be able to extend its cash runway in 2024, and other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and\/or commercialization of diagnostic tests or products, uncertainty in the results of clinical trials or regulatory approvals, the capacity of Oncocyte\u2019s third-party supplied blood sample analytic system to provide consistent and precise analytic results on a commercial scale, potential interruptions to supply chains, the need and ability to obtain future capital, maintenance of intellectual property rights in all applicable jurisdictions, obligations to third parties with respect to licensed or acquired technology and products, the need to obtain third party reimbursement for patients\u2019 use of any diagnostic tests Oncocyte or its subsidiaries commercialize in applicable jurisdictions, and risks inherent in strategic transactions such as the potential failure to realize anticipated benefits, legal, regulatory or political changes in the applicable jurisdictions, accounting and quality controls, potential greater than estimated allocations of resources to develop and commercialize technologies, or potential failure to maintain any laboratory accreditation or certification. Actual results may differ materially from the results anticipated in these forward-looking statements and accordingly such statements should be evaluated together with the many uncertainties that affect the business of Oncocyte, particularly those mentioned in the \u201cRisk Factors\u201d and other cautionary statements found in Oncocyte\u2019s Securities and Exchange Commission (SEC) filings, which are available from the SEC\u2019s website. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they were made. Oncocyte undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.<\/p>\n<p>\n        <strong>Investor Contact<\/strong><br \/>\n        <br \/>Jesse Arno<br \/>(949) 409-6770<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=k55rFueM_ATeWoXeOiH0_h7XmYIqm3X5xS1PWB4yYwhU2I4COVhjJzfmeBUoHRSl082JqxZfRYrFtVx5isw8iaOiG4mH4sDoCqYJaNjIV3o=\" rel=\"nofollow noopener\" target=\"_blank\">jarno@oncocyte.com<\/a>\u00a0\u00a0<\/p>\n<p \/>\n      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgwNjc1MyM1NTIzMjIyIzIwMjYxNzA=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/NTc0YWEwYWYtMGU2ZC00MDNkLTk1ZTEtMGYwYWU1YmQyZjRhLTEwMzc3NDI=\/tiny\/Oncocyte-Corporation.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>IRVINE, Calif., April 12, 2023 (GLOBE NEWSWIRE) &#8212; Oncocyte Corporation\u00a0(Nasdaq: OCX), a precision diagnostics company, today announced a reduction in force involving approximately 20% of its workforce, which management believes will extend Oncocyte\u2019s cash runway in 2024. \u201cAs part of our efforts to bring our cost structure in line with our kitted product strategy and to optimize our operational efficiency, we reduced our team by approximately 20%,\u201d said Joshua Riggs, CEO. \u201cThose impacted have always put patients first in everything they do. We are grateful for their dedication and service to the clinical community.\u201d About Oncocyte Oncocyte is a precision diagnostics company. Oncocyte\u2019s tests are designed to help provide clarity and confidence to physicians and their patients. DetermaIO\u2122 is a &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/oncocyte-announces-reduction-in-force\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Oncocyte Announces Reduction in Force&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-747176","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Oncocyte Announces Reduction in Force - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/oncocyte-announces-reduction-in-force\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oncocyte Announces Reduction in Force - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"IRVINE, Calif., April 12, 2023 (GLOBE NEWSWIRE) &#8212; Oncocyte Corporation\u00a0(Nasdaq: OCX), a precision diagnostics company, today announced a reduction in force involving approximately 20% of its workforce, which management believes will extend Oncocyte\u2019s cash runway in 2024. \u201cAs part of our efforts to bring our cost structure in line with our kitted product strategy and to optimize our operational efficiency, we reduced our team by approximately 20%,\u201d said Joshua Riggs, CEO. \u201cThose impacted have always put patients first in everything they do. We are grateful for their dedication and service to the clinical community.\u201d About Oncocyte Oncocyte is a precision diagnostics company. Oncocyte\u2019s tests are designed to help provide clarity and confidence to physicians and their patients. 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We are grateful for their dedication and service to the clinical community.\u201d About Oncocyte Oncocyte is a precision diagnostics company. Oncocyte\u2019s tests are designed to help provide clarity and confidence to physicians and their patients. 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