Friday, May 01, 2020 5:45:12 AM
May lead to Medicare coverage for up to 70% of eligible early-stage lung cancer patients
Email Print Friendly Share
April 30, 2020 14:21 ET | Source: OncoCyte Corporation
IRVINE, Calif., April 30, 2020 (GLOBE NEWSWIRE) -- Oncocyte Corporation (NYSE American: OCX), a molecular diagnostics company with a mission to provide actionable answers at critical decision points across the cancer care continuum, today announced that Palmetto, the Medicare Administrative Contractor for the Centers for Medicare & Medicaid Services (CMS), has issued a final local coverage decision for DetermaRx™. The test, which launched earlier this year via an early access program, is the first and only predictive test for the identification of patients with Stage I-IIA non-squamous NSCLC who are at high-risk for recurrence following surgery and are likely responsive to adjuvant chemotherapy.
“Today’s CMS decision is a significant milestone for Oncocyte. Not only can we now increase outreach to more patients and physicians around the country, but we believe several national and regional payers will follow this decision, giving additional patients insurance coverage for this important test,” said Ron Andrews, CEO of Oncocyte. “The DetermaRx test addresses a critical unmet need for the 30-50% of patients with early-stage lung cancer who have a recurrence despite having “curative” surgery. In a published clinical study, patients identified as high-risk by the DetermaRx test post-surgery and treated by chemotherapy had survival rate of 92% compared to high-risk untreated patients who had a survival rate of 49%.”
“Despite the impact of COVID-19, we have seen significant interest in this test just in the first quarter of launch, with twenty onboarded sites and more than 1500 attendees to physician education programs. Today’s CMS decision further supports the promise of DetermaRx, and we are looking forward to expanding our reach throughout the U.S. over the coming months.”
Following this decision, Oncocyte intends to intensify its efforts with private payers who have a history of following Medicare coverage decisions, with the goal of securing coverage for patients with private insurance.
Please visit CMS.gov to view the final local coverage decision memo.
About Oncocyte Corporation
Oncocyte is a molecular diagnostics company whose mission is to provide actionable answers at critical decision points across the cancer care continuum, with the goal of improving patient outcomes by accelerating and optimizing diagnosis and treatment. The Company recently launched DetermaRx™, a treatment stratification test that enables the identification of early-stage lung cancer patients at high risk for recurrence post-resection, allowing them to be treated when their cancer may be more responsive to adjuvant chemotherapy. DetermaDx™, the company’s liquid biopsy test in development, utilizes a proprietary immune system interrogation approach to clarify if a patients’ lung nodules are benign, which may enable them to avoid potentially risky invasive diagnostic procedures. Oncocyte is also developing DetermaIO™, a gene expression test that identifies patients more likely to respond to checkpoint immunotherapies. DetermaDx, DetermaRx and DetermaIO are trademarks of Oncocyte Corporation.
Recent OCX News
- PRISM MarketView Features Oncocyte CFO Andrea S. James on Her Career and Leadership in Molecular Diagnostics Technology • GlobeNewswire Inc. • 08/20/2024 01:00:00 PM
- Oncocyte’s VitaGraft™ Kidney Used to Monitor Effect of Daratumumab on Anti-body Mediated Rejection in New Case Series Study • GlobeNewswire Inc. • 08/12/2024 08:10:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/09/2024 10:37:23 AM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 08/09/2024 10:25:21 AM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 08/09/2024 04:15:11 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/08/2024 08:27:19 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/08/2024 08:10:22 PM
- Oncocyte Announces Successful GraftAssure™ Beta Launch and Q2 2024 Results • GlobeNewswire Inc. • 08/08/2024 08:05:00 PM
- Oncocyte Announces August Investor Conferences Participation • GlobeNewswire Inc. • 08/05/2024 08:05:00 PM
- Oncocyte to Announce Second Quarter 2024 Financial Results on August 8 • GlobeNewswire Inc. • 08/01/2024 08:05:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/12/2024 08:05:21 PM
- MedTech Gurus Podcast Features Oncocyte CEO Josh Riggs in "Take Advantage of the Moment" Episode • GlobeNewswire Inc. • 07/11/2024 12:00:00 PM
- Oncocyte Bolsters Executive Team with Key CFO Appointment: PRISM MarketView Highlights Strategic Leadership Move • GlobeNewswire Inc. • 06/24/2024 04:41:19 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/17/2024 08:10:27 PM
- Oncocyte Appoints Andrea James as Chief Financial Officer • GlobeNewswire Inc. • 06/17/2024 08:05:00 PM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 06/04/2024 09:02:47 PM
- Breakthrough in Kidney Transplant Monitoring: PRISM MarketView Spotlights Oncocyte's VitaGraft Study • GlobeNewswire Inc. • 06/03/2024 06:13:29 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/31/2024 08:05:31 PM
- Favorable Oncocyte VitaGraft Kidney Study Results Published in the New England Journal of Medicine • GlobeNewswire Inc. • 05/30/2024 08:47:51 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/23/2024 08:05:24 PM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 05/23/2024 03:26:31 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/22/2024 09:18:24 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/22/2024 08:56:24 PM
- Form S-3/A - Registration statement under Securities Act of 1933: [Amend] • Edgar (US Regulatory) • 05/17/2024 09:11:17 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM