Oncocyte Q3 rev $0.4M, op loss $6.5M; VitaGraft Kidney gets CMS coverage

Insight Molecular Diagnostics Inc.

2023-Q3 EPS reported -$1.68 revenue$1,189,000

Revenue $0.4M; net operating loss $6.5M vs $1.7M in Q3 2022 (which included $6.1M fair value benefit).
Cash burn reduced to $3.6M; cash, equivalents, and marketable securities $14.2M as of Sep 30, 2023.
VitaGraft Kidney received positive CMS coverage decision; commercial revenue expected in 1H 2024.
R&D expense $2.2M (+48% YoY) driven by assay development; SG&A $2.5M (-56% YoY) due to lower stock compensation.
VitaGraft Liver under review for CMS coverage at MolDX.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Insight Molecular Diagnostics Inc. reported third quarter ended September 30, 2023 results: revenue $0.4 million, net income $6.5 million net consolidated operating loss.

Period: third quarter ended September 30, 2023
Revenue: $0.4 million
Net income: $6.5 million net consolidated operating loss
Result: reported results

Exact text from the filing

for growth in 2024 and the years beyond,” concluded Mr. Riggs. Third Quarter 2023 Financial Results Consolidated revenue for the third quarter of 2023 was approximately $0.4 million primarily due to increased revenue from Pharma Services. Cost of revenue was approximately $0.2 million. Net consolidated operating loss for the three months ended September 30,

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Source: SEC EDGAR

accession 0001493152-23-039981

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