Shares of OncoCyte Corporation (AMEX: OCX) soared 19.86% after the company announced that it is scheduled to present data on DetermaRxTM by the International Association for the study of lung cancer. The company will present the data at IASLC 2020 North America Conference. DetermaRx is a treatment stratification test that spot stage I-IIA non-small cell lung cancer (NSCLC) patients at high risk of recurrence despite ostensibly curative surgery, who may benefit from the addition of chemotherapy.
This test is adopted by seventy different hospitals since its launch including National Cancer Institutes (NCI) and National Comprehensive Cancer Network (NCCN) cancer centers and is funded by Medicare. The company has provided the presentation highlights from the prospective study of 250 patients that received this test.
It has been revealed by the company that 94% of patients who chose adjuvant chemotherapy were cancer-free and those patients who avoid adjuvant chemotherapy had experienced cancer again. These patients have received the high-risk status from the DetermaRx test.
Additionally, this test is also useful as it informs patients whether they need chemotherapy or not and prevent them from dangerous chemotherapy. All the patients have received the low-risk status from the DetermaRx test. Only 5% of patients have got cancer again.
Oncotcyte Corporation (AMEX: OCX) shares were trading up 19.86% at $1.57 on Wednesday. Oncotcyte Corporation share price went from a low point around $1.15 to briefly over $3.51 in the past 52 weeks, though shares have since pulled back to $1.75. It has moved up 52-1.7% from its 52-weeks low and moved down -50.14% from its 52-weeks high. OCX market cap has remained high, hitting $117.69 million at the time of writing.
DetermaRx is useful as it provides the necessary information related to high-risk patients and informed them about adjuvant chemotherapy. It is important as a post-surgical treatment in patients diagnosed with NSCLC. The company revealed that if we combine the risk status provided by DetermaRx and EGFR mutation status it may help non-small cell lung cancer (NSCLC) patients. The result will be revealed at the KOL webinar on October 22nd at 11:00 am PT.