Oncocyte's VitaGraft Kidney Transplant Diagnostic Test Receives CMS Coverage; Expect Initial Revenue Generation In Q1 2024
Portfolio Pulse from Happy Mohamed
Oncocyte Corporation's (NASDAQ:OCX) VitaGraft Kidney diagnostic test has received a positive coverage decision from Palmetto GBA, the Medicare Administrative Contractor for the Centers for Medicare & Medicaid Services (CMS). The test is designed to identify signs of graft damage in kidney transplant patients. Initial revenue from the service lab business is expected to begin in Q1 2024. Oncocyte's second transplant test, VitaGraft Liver, remains under review for coverage at MolDX.
August 28, 2023 | 12:34 pm
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Oncocyte's VitaGraft Kidney diagnostic test has received CMS coverage, which is a positive development for the company. This could lead to revenue generation starting from Q1 2024.
The CMS coverage for Oncocyte's VitaGraft Kidney diagnostic test is a significant milestone for the company. This approval not only validates the test but also opens up a potential revenue stream for the company starting from Q1 2024. However, the company's second transplant test, VitaGraft Liver, is still under review, which could impact future revenues.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100