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OncoCyte Corp (OCX)



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Upturn Advisory Summary
02/11/2025: OCX (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Performance
Type Stock | Historic Profit -34.59% | Avg. Invested days 35 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 34.85M USD | Price to earnings Ratio - | 1Y Target Price 4.12 |
Price to earnings Ratio - | 1Y Target Price 4.12 | ||
Volume (30-day avg) 69035 | Beta 1 | 52 Weeks Range 1.92 - 3.48 | Updated Date 02/11/2025 |
52 Weeks Range 1.92 - 3.48 | Updated Date 02/11/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -4.57 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin - | Operating Margin (TTM) -5543.48% |
Management Effectiveness
Return on Assets (TTM) -18.84% | Return on Equity (TTM) -165.32% |
Valuation
Trailing PE - | Forward PE - | Enterprise Value 35476961 | Price to Sales(TTM) 49.15 |
Enterprise Value 35476961 | Price to Sales(TTM) 49.15 | ||
Enterprise Value to Revenue 50.04 | Enterprise Value to EBITDA -1.25 | Shares Outstanding 16835200 | Shares Floating 5568844 |
Shares Outstanding 16835200 | Shares Floating 5568844 | ||
Percent Insiders 20.42 | Percent Institutions 50.51 |
AI Summary
OncoCyte Corp.: A Comprehensive Overview
Company Profile
History and Background
OncoCyte Corporation (OCX) is a molecular diagnostics company founded in 2006. The company is headquartered in Irvine, California, and focuses on developing and commercializing proprietary molecular diagnostic tests for early detection of lung, liver, and colorectal cancers.
Core Business Areas
OncoCyte's primary business area is the development and commercialization of its proprietary tests, including:
- Deterct™ Lung: A blood-based test for early-stage lung cancer detection.
- Deterct™ Liver: A blood-based test for early-stage hepatocellular carcinoma (HCC) detection.
- Deterct™ Colorectal: A blood-based test for early-stage colorectal cancer detection.
The company also offers research and development services related to its diagnostic tests and partners with other healthcare organizations to develop and commercialize new cancer diagnostic tools.
Leadership and Corporate Structure
OncoCyte's leadership team includes:
- Dr. Ronny D. Andrews, PhD: President and Chief Executive Officer
- R. Douglas Johnson: Chief Financial Officer
- Dr. Richard P. Messmann, PhD, DABT, CMI: Chief Science Officer
- Jeffrey A. Myers, MBA: Chief Operating Officer
The company's board of directors comprises individuals with extensive experience in healthcare, finance, and drug development.
Top Products and Market Share
Top Products and Offerings
OncoCyte's top products are the Deterct™ suite of blood-based tests for early cancer detection. These tests aim to detect cancer at earlier stages when treatment is more likely to be successful.
Market Share Analysis
OncoCyte's market share in the early cancer detection market is difficult to quantify due to the evolving nature of this field and the existence of various competitors. However, the company estimates that its Deterct™ Lung test has a market share of approximately 1% in the US lung cancer screening market.
Competitor Comparison
OncoCyte faces competition from established players like Exact Sciences (EXAS) and Guardant Health (GH), which offer similar blood-based cancer detection tests. While OncoCyte's tests focus on different cancer types, the market competition is intense, and success will depend on the company's ability to demonstrate the clinical and economic benefits of its tests.
Total Addressable Market
The global market for early cancer detection is estimated to be worth $25 billion by 2025. This presents a significant opportunity for OncoCyte and other companies developing similar technologies.
Financial Performance
Recent Financial Statements Analysis
OncoCyte is a pre-revenue company, meaning it has not yet generated significant sales from its products. In 2022, the company reported a net loss of $42.1 million. Revenue primarily comes from research and development collaborations and licensing agreements.
Year-over-Year Comparison
OncoCyte's financial performance has fluctuated in recent years. Revenue has increased slightly year-over-year, but the company continues to incur significant losses due to its research and development investments.
Cash Flow and Balance Sheet Health
As of September 30, 2023, OncoCyte had cash and cash equivalents of $22.1 million. The company continues to burn cash, and its ability to generate positive cash flow remains uncertain.
Dividends and Shareholder Returns
Dividend History
OncoCyte does not currently pay dividends as it is a pre-revenue company.
Shareholder Returns
OncoCyte's stock price has been volatile in recent years, reflecting the company's early stage of development and the risks associated with its business model.
Growth Trajectory
Historical Growth Analysis
OncoCyte has experienced limited revenue growth in recent years due to its pre-revenue status. However, the company has made significant progress in developing its diagnostic tests and establishing partnerships with major healthcare organizations.
Future Growth Projections
OncoCyte's future growth prospects depend on the successful commercialization of its Deterct™ tests. If the company can demonstrate the clinical and economic benefits of its tests, it could experience significant revenue growth in the coming years.
Recent Initiatives
OncoCyte is actively pursuing several initiatives to drive growth, including:
- Expanding its clinical trial programs for its Deterct™ tests.
- Obtaining regulatory approvals for its tests in additional markets.
- Building commercial partnerships with healthcare providers and payers.
Market Dynamics
Industry Trends
The early cancer detection market is rapidly evolving, driven by technological advancements and increasing awareness of the importance of early detection. This presents both opportunities and challenges for OncoCyte.
Company Positioning
OncoCyte is well-positioned to capitalize on the growing demand for early cancer detection tests with its proprietary technologies and strong partnerships. However, the company faces stiff competition from established players and needs to execute its commercialization strategy effectively to succeed.
Competitors
Key Competitors:
- Exact Sciences (EXAS)
- Guardant Health (GH)
- Grail (GRAL)
- Freenome (FRME)
- Thrive Earlier Detection Corp. (THRD)
Competitive Advantages and Disadvantages
OncoCyte's key competitive advantages include:
- Proprietary technology platform
- Strong intellectual property portfolio
- Experienced management team
- Partnerships with major healthcare organizations
However, the company also faces disadvantages, such as:
- Limited commercial experience
- Pre-revenue status
- Intense competition
Potential Challenges and Opportunities
Key Challenges
- Commercialization of Deterct™ tests
- Competition from established players
- Reimbursement challenges
- Regulatory hurdles
Potential Opportunities
- Expanding market for early cancer detection
- Technological advancements
- Strategic partnerships
- New product development
Recent Acquisitions
OncoCyte has not made any acquisitions in the last three years.
AI-Based Fundamental Rating
Based on an AI-based analysis of OncoCyte's financial health, market position, and future prospects, the company receives a rating of 6 out of 10. This rating reflects the company's potential for growth but also acknowledges the significant risks associated with its pre-revenue status and intense competition.
Sources and Disclaimers
This analysis uses data from the following sources:
- OncoCyte Corp. website
- Securities and Exchange Commission (SEC) filings
- Market research reports
This information should not be considered financial advice. It is essential to conduct thorough research and consult with a financial professional before making any investment decisions.
Disclaimer
I am an AI chatbot and cannot provide financial advice.
About OncoCyte Corp
Exchange NASDAQ | Headquaters Irvine, CA, United States | ||
IPO Launch date 2016-01-04 | President, CEO & Director Mr. Joshua Riggs | ||
Sector Healthcare | Industry Diagnostics & Research | Full time employees 43 | Website https://www.oncocyte.com |
Full time employees 43 | Website https://www.oncocyte.com |
OncoCyte Corporation, a precision diagnostics company, focuses on development and commercialization of proprietary tests in the United States and internationally. The company is developing DetermaIO, a gene expression test that assesses the tumor microenvironment to predict response to immunotherapies; DetermaCNI, a blood-based monitoring tool for monitoring therapeutic efficacy in cancer patients; and VitaGraft, a blood-based solid organ transplantation monitoring test. It also provides testing services for biomarker discovery, assay design and development, clinical trial support, and various biomarker tests. The company has a collaboration agreement with Bio-Rad Laboratories, Inc. (Bio-Rad) to collaborate in the development and the commercialization of research use only and in vitro diagnostics kitted transplant products using Bio-Rad's ddPCR instruments and reagents. OncoCyte Corporation was incorporated in 2009 and is based in Irvine, California.
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