OncoCyte Corporation (NASDAQ:OCX) Q4 2022 Earnings Call Transcript

Bruce Jackson: Okay. Great. Thank you. That’s it for me.

Operator: Our next question comes from the line of David Westenberg with Piper Sandler. Please proceed with your question.

David Westenberg: Hi guys. Once again, just a quick housekeeping question. So, where does this newest cash injection take you as far as timeline? And is this as a result of growth, or is this more of like a sustaining cash line that we are getting? And then do we expect this again in 2024, or is this more like a €˜25 and €˜26 and on question? I am just asking because we had asked in €˜21 or €˜22? Thank you.

Joshua Riggs: Thanks for the question. Yes. I think the way we ought to think about it is just for continuing and growth. It’s really more of a combination of the two. We should expect, based on our current cash burn levels that this would help us through €“ with the cash runway through well into the first half of €˜24. And that’s how you ought to think about it.

David Westenberg: Perfect. Thank you.

Joshua Riggs: Thank you.

Operator: Thank you. Our next question comes from the line of Mike Matson with Needham & Company. Please proceed with your question.

Unidentified Analyst: Hey. Just one more from me. When you guys had announced selling a majority stake of DetermaRx, I believe the press release mentioned some potential for upside, I guess sales ramp. Would it be possible to maybe size the sample volume needed to see some of those benefits or the likelihood some upside? I guess maybe not quantitatively, but qualitatively, how much, I guess success would Razor Genomics need to €“ for you guys to see some type of benefit from that?

Joshua Riggs: No, it’s a good question. And the €“ we have got a 30% ownership of the remaining business. So, it’s not a royalty payment back to us. So, what we would expect is while they continue to develop the product and make sure the assay get out of the randomized clinical trial and publish that data that the product will become sort of higher revenue producing more attractive and then eventually that they would lead to an acquisition, that’s at the point when we would expect sort of a windfall payment to come our direction.

Unidentified Analyst: Okay. Yes, that makes prefect sense. Well, thank you very much for taking our questions.

Joshua Riggs: Sure.

Operator: Thank you. Ladies and gentlemen, this concludes our Q&A session, and this concludes our call today. We thank you for your interest and participation. You may now disconnect your lines.