World News – United States – OncoCyte shares soar on licensing deal with a China-based company days after insiders acquired shares


. .

shares of OncoCyte Corp. .
-5. 36%
rose 63% in premarket trading on Tuesday after the molecular diagnostics company announced overnight that it had entered into an exclusive licensing agreement with China-based Burning Rock Biotech Ltd.
-5. 88%
Bring OncoCyte’s DetermaRX test for early-stage lung cancer patients to China. The trading volume rose to 8. 3 million shares, compared to the daily average of around 419. 500 shares. « This agreement with Burning Rock accelerates the continued expansion of our DetermaRx test to patients and clinicians outside the United States. S.. . and illustrates our global growth strategy, « said OncoCyte CEO Ron Andrews. The news and stock rally comes as several OncoCyte executives and directors announced that they had acquired stocks in December. 11, called « repayment of deferred compensation in lieu of cash at a cost of $ 2. 07 per share, « that was 2. 4% below the closing price on Monday. The stock lost 5. 8% from the beginning of the year to Monday, during the S&P 500
-0. 44%
won 12. 9%.

The green energy and ESG investing revolution is set to continue in 2021, Morgan Stanley strategists said.

Tomi Kilgore is MarketWatch’s assistant editor for investments and corporate news and is based in New York. You can follow him on Twitter @TomiKilgore.

OncoCyte, NYSEAMERICAN: OCX, stocks, oncology, non-small cell lung cancer stocks
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