Oncocyte Q1 revenue down 50% to $0.7M; CFO Anish John to leave June 15

Insight Molecular Diagnostics Inc.

2023-Q1 EPS reported $0.02 revenue$297,000

Revenue $0.7M, down 50% YoY; net operating income $2.9M vs loss of $9.4M.
CFO Anish John departing June 15, 2023; no disagreements; search for replacement.
Completed $13.86M equity raise in April from common stock sale.
R&D expenses $2.8M (-45% YoY); G&A $3.7M (-35%); S&M $1.2M (-63%).
Sold 70% of Razor Genomics; transitioning to capital-light kitted product model.

item 2.02 item 5.02 item 9.01

Executive movements

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Departed

Anish John

Chief Financial Officer

IMDX · Insight Molecular Diagnostics Inc.

Effective: 2023-06-15
Filed: May 11, 2023, 7:59 PM ET

On May 11, 2023, Oncocyte announced that Anish John, our Chief Financial Officer, will be leaving the Company on June 15, 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Insight Molecular Diagnostics Inc. reported the three months ended March 31, 2023 results: revenue $0.7 million, net income $2.9 million.

Period: the three months ended March 31, 2023
Revenue: $0.7 million
Net income: $2.9 million
Result: reported results

Exact text from the filing

to create value for both patients and shareholders.” First Quarter 2023 Financial Results Consolidated revenues for the three months ended March 31, 2023, were approximately $0.7 million, a 50% decrease compared to the first quarter of 2022. Excluding DetermaRx revenue, the continuing operations revenue was $0.3 million for the three months ended March 31, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Anish John resigned as Chief Financial Officer at Insight Molecular Diagnostics Inc..

Action: resigned
Role: Chief Financial Officer

Exact text from the filing

On May 11, 2023, Oncocyte announced that Anish John, our Chief Financial Officer, will be leaving the Company on June 15, 2023.

View on SEC.gov

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Insight Molecular Diagnostics Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-016285

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