OncoCyte (OCX) Announces Proposed Public Offering of Common Stock and Warrants

Oncocyte Corporation (Nasdaq: OCX), (“Oncocyte” or the “Company”), announced today that it has commenced an underwritten public offering of shares of its common stock, together with warrants to purchase additional shares of its common stock. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares of common stock and/or additional warrants to purchase shares of common stock to be issued and sold in the public offering, in any combination thereof, on the same terms and conditions. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering, the offering price of the common stock and warrants, or the exercise price of the warrants.

BTIG and Needham & Company are acting as joint book-running managers for the offering.

The Company intends to use the net proceeds from the offering primarily to promote commercialization of DetermaRx™, including sales and marketing efforts and by conducting additional clinical studies to support clinical adoption of the test; to complete development of DetermaIO™; complete the development and begin commercialization of TheraSure™; for development of other future tests in our pipeline, including DetermaCNI™, DetermaTx™ and DetermaMx™. The Company also expects to use net proceeds to pay for development costs associated with its activities under the Collaboration Agreement with Life Technologies Corporation (“LTC”), a subsidiary of Thermo Fisher Scientific, pursuant to which the Company has agreed to undertake certain development efforts with LTC and to collaborate with LTC in the commercialization of Thermo Fisher Scientific’s existing Oncomine Comprehensive Assay Plus, and the Company’s DetermaIO™ assay for use with LTC’s Ion TorrentTM Genexus™ Integrated Sequencer and LTC’s Ion Torrent™ Genexus™ Purification System, in order to obtain in vitro diagnostic regulatory approval of those tests. We may use net proceeds to make certain future milestone and other payments to former shareholders of companies that we have acquired, including Chronix Biomedical, Inc. and Insight Genetics, Inc. if the applicable milestones requiring such payments are met.

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