OncoCyte Corp (NYSEAMERICAN: OCX) is crying out for the top of the market this morning for good reason. The company announced that it has entered into an exclusive cancer risk testing license agreement that has the potential to generate significant revenue.
As mentioned above, OncoCyte announced earlier this morning that it has entered into an exclusive licensing agreement with Burning Rock Biotech. The aim of the agreement is to offer the DetermaRX test to patients in China.
DetermaRx is a risk stratification test for patients with early-stage lung cancer. In fact, the test identifies patients with stage I-IIA non-squamous cell carcinoma who, despite supposedly curative surgery, have a high risk of recurrence and who may benefit from additional chemotherapy.
OCX further stated that the test was originally developed at the University of California at San Francisco. It was then independently validated at Kaiser Permanente’s hospitals in Northern California
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.
We believe that alignment with one of the largest and fastest growing companies in China’s NGS-based cancer therapy selection market underscores the strength of DetermaRx as a valuable treatment stratification tool to resolve this critical treatment decision point in early-stage tumors. We are honored to partner with Burning Rock, whose comprehensive portfolio of molecular tests for the oncology market gives us access to the largest candidate patient population in the world as well as China’s premier cancer centers. This important milestone not only expands our available market, but also provides us with non-dilutive capital and a continuous source of income to strengthen our growth path and reduce our operational cash burn.
The above statement was followed up by Yusheng Han, founder and CEO of Burning Rock. Here’s what he had to say:
We are excited to enter into this agreement with Oncocyte. As the leading provider of NGS applications in oncology in China, we strive to provide the best diagnostic solutions to Chinese patients and oncologists. China’s stage I-IIA non-squamous cell carcinoma is estimated to be over 100. 000 estimated per year. 3 We believe that Oncocyte’s risk stratification test has a clear unmet need in identifying high-risk patients who may benefit from adjuvant chemotherapy versus low-risk patients who do not need to undergo unnecessary chemotherapy at a convenient and affordable price Way fulfilled.
By combining DetermaRx with our genetic testing and MRD detection products (currently under the R&D), we can provide oncologists with a comprehensive testing strategy that will ultimately benefit early-stage Chinese NSCLC patients by improving their survival and quality of life. We look forward to expanding this much needed and promising test to the Chinese market and to working with Oncocyte in the future.
With the news making OncoCyte stock scream up, there must be a reason for the uproar, and that reason is clear . . . . Potential revenue.
Under the terms of the agreement, the Company’s DetermaRx product will be marketed in China. China is one of the largest markets in the world and offers enormous revenue opportunities.
Ultimately, with the wider audience and revenue opportunities, investors see dollar signs.
While you should never base an investment decision on the opinions of others, including the opinions of analysts, it is a good idea to check that analysts’ opinions align with yours before taking your steps. After all, these people eat, breathe and sleep in the market.
According to TipRanks, three analysts cover the stock, two of whom have rated it as a buy and one as a hold. Currently, no analysts rate the share as a sale. At the same time, the price targets are promising. On the low side the target price is USD 2, on the high side a target price of USD 5. The average target for the stock is $ 3. This corresponds to the profit potential of more than 70% compared to yesterday’s closing price.
Every time you buy a stock you accept the risks associated with your investment, and no investment is risk-free. With respect to OCX, some of the top risks investors should consider before buying the stock include:
All in all, today will be a great day for OCX stock and its investors. Today’s news means that the company’s DetermaRx will be launched in China relatively soon, opening the door to a strong potential revenue stream.
While there are risks associated with every investment, OncoCyte seems to be taking the right steps at the right time and creating an opportunity for investors. All in all, OCX stock is one to watch closely.
OncoCyte, NYSEAMERICAN: OCX, Stock, China, Non-Small Cell Lung Cancer, Oncology
World News – USA – OCX Stock: OncoCyte Signs Agreement With Burning Rock
. . Related title :
– OncoCyte&’s shares rise after licensing deal with a China-based company days after Insiders acquired shares.
– OCX-share: OncoCyte signs agreement with Burning Rock
– Burning Rock announces exclusive in-licensing of a risk stratification test for early-stage lung cancer patients . . .
– Burning Rock Ink License Agreement with Oncocyte Corporation
– OncoCyte (OCX) and Burning Rock (BNR) confirm strategic agreement to distribute DetermaRx in China
– Oncocyte and Burning Rock execute strategic agreement to distribute DetermaRx in China
– Oncocyte presents itself at the 15. annual LD Micro Main Event
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