Oncocyte Q1 revenue down 41% to $176K; operating loss $9.3M; Bio-Rad partnership

Insight Molecular Diagnostics Inc.

2024-Q1 EPS reported -$1.13 revenue$176,000

Net revenue $176K, down 41% YoY; operating loss $9.3M (incl. $3.3M contingent consideration loss) vs income $5.9M in Q1 2023.
Cash burn reduced to $3.9M in Q1; management targets average quarterly burn below $5M.
Announced global commercialization partnership with Bio-Rad; Bio-Rad also bought 8.99% stake via $15.8M equity private placement.
On track to ship RUO GraftAssure kits to initial customers in Asia, US, and EU during Q2 2024; IVD kit under development for FDA.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Insight Molecular Diagnostics Inc. reported the quarter ended March 31, 2024 results: revenue $176,000.

Period: the quarter ended March 31, 2024
Revenue: $176,000
Result: reported results

Exact text from the filing

Net revenue for the three months ended March 31, 2024 was $176,000, a decrease of 41% compared to the same period in 2023, due to decreased revenue from our Pharma Services business.

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Source: SEC EDGAR

accession 0001493152-24-019889

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