Oncocyte Reduces Workforce By 20%

(RTTNews) - Oncocyte Corporation (OCX), a precision diagnostics company, Wednesday announced a reduction in force involving about 20% of its workforce, which management believes will extend Oncocyte's cash runway in 2024.

"As part of our efforts to bring our cost structure in line with our kitted product strategy and to optimize our operational efficiency, we reduced our team by approximately 20%," said Joshua Riggs, CEO. "Those impacted have always put patients first in everything they do. We are grateful for their dedication and service to the clinical community."