Brief: OncoCyte Announces Reduction Of Workforce Over 40%

Insight Molecular Diagnostics

16/12/2022 13:39

Dec 16 (Reuters) - OncoCyte Corp  OCX.O :
    * ONCOCYTE ANNOUNCES INITIATIVES TO FOCUS CORPORATE STRATEGY
    * ONCOCYTE CORP- ANNOUNCED A REDUCTION IN FORCE INVOLVING
OVER 40%
OF ONCOCYTE'S WORKFORCE
    * ONCOCYTE CORP- CO HAS ENTERED INTO A STOCK PURCHASE
AGREEMENT
PURSUANT TO WHICH ONCOCYTE WILL TRANSFER 70% OF ITS OWNERSHIP OF
RAZOR GENOMICS
    * ONCOCYTE CORP- TRANSACTION INVOLVES TRANSFER OF ALL OF
ASSETS
AND LIABILITIES RELATED TO DETERMARX
    * ONCOCYTE CORP- THIS TRANSACTION, ALONG WITH REDUCTION IN
FORCE,
WILL PREPARE US FOR MORE FOCUSED STRATEGY AND FURTHER ELONGATE
OUR CASH RUNAWAY

Source text for Eikon:  ID:nGNX6KFkW6 
Further company coverage:  OCX.O 
 ((Reuters.Briefs@thomsonreuters.com;))