OCX future rides on Lung Cancer diagnostic adoption.
At PPS > 1.30 MC ~ 96M
6/29 DetermaDx failed the final clinical test in a series of much hyped validation procedures.
2 viable products remain:
* DetermaRx diagnoses lung cancer using a simple blood test. It has already been approved by Centers for Medicare/Medicaid Services (cms) CMS reimburses 70% of approved cost. Earning potential could be up to $500M pa. Conservatively, 2021 revenue is estimated to exceed $30M
* DetermaI/O identifies the approximate 30% of cancer patients who are eligible for immune therapy. It is presently used in research settings.
As of 4/31/20 Cash = 27.6M Burn rate is expected to be ~6.0M per Q for remainder or 2020.