OncoCyte Corp (NYSEAMERICAN:OCX) after leaping at the end of last month the stock has been declining since and in the previous trading session the stock lost 0.78% to close the day at $3.84.
The stock leaped following the announcement of positive results from the R&D validation study to demonstrate the accuracy of DetermaVuTM Lung cancer liquid biopsy test.
The DermataVuTM test results
Results from the R&D validation study showed 90% sensitivity and 75% specificity of DermataVuTM on the collected cohort blood samples of 250 patients that were blinded in the trial. The sensitivity was the portion of correctly identified malignant nodules while specificity represented the benign nodules identified correctly. The study attained a 95% confidence interval which shows that the final test performance was within the expected range.
The positive results demonstrated that DermataVuTM considerably exceeds the necessary parameter used in the diagnosis of lung cancer. DermataVuTM outperformed results from the previous test and clinical models from competitors.
Following the positive results, the company believes DermataVuTM is currently the best-in-class liquid biopsy test for lung cancer diagnosis. OncoCyte is currently making plans to avail DermataVuTM in the market in the second half of 2019 with the objective of transforming lung cancers diagnosis.
DermataVuTM could reduce the cost of lung cancer diagnosis
The company has indicated that DermataVuTM has the potential of significantly reducing the cost of healthcare annually by doing away with unnecessary biopsies. Similarly, DermataVuTM can offer patients great benefits by curbing the invasive biopsies as well as complications that normally arise in over 24% of procedures and 1% of the reported death cases.
Physicians can use a simple DermataVuTM blood test in practice to ascertain whether the patient’s lung nodules need to be biopsied or not. If the test shows benign result then the patient needs monitoring without a biopsy which will eliminate costs and safety risks associated with the invasive procedure. Most physicians could employ the DermataVuTM test to avoid close to 75% of the unnecessary biopsies and resulting complications that sometimes result in death.
The improved patient outcomes and decreased costs demonstrate how DermataVuTM could be of significance for health insurance companies and Medicare payers.