Oncocyte Shares Drop 11% After Marketing Deal With Thermo Fisher

By Chris Wack

Oncocyte Corp. shares fell 11% to $1.95 after the company said it was in a development and co-marketing agreement for two distributed in vitro diagnostic assays on Thermo Fisher Scientific's Ion Torrent Genexus System.

The company said the agreement grants Oncocyte rights to develop future companion diagnostics on the Genexus System.

Under the terms of the collaboration, Oncocyte will clinically validate Thermo Fisher's existing Oncomine Comprehensive Assay Plus on the Genexus System, working toward IVD clearance for use in tumor profiling and future submissions as a companion diagnostic.

Oncocyte shares ended Tuesday's session up 16%, and hit their 52-week low of $1.80 on Jan. 14.

Write to Chris Wack at [e-mail]

(END) Dow Jones Newswires

01-19-22 1013ET