Business Context and Reporting Period
This Form 8-K is a current report filed by Oncocyte Corporation (trading symbol: OCX) on January 24, 2023. The filing addresses a corporate governance and listing status matter rather than operational financial results. The company is incorporated in California and maintains its principal executive offices in Irvine, California.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on the status of the company's stock listing on The Nasdaq Stock Market LLC.
Material Changes
The primary material event reported is the company's application to transfer the listing of its common stock from the Nasdaq Global Market to The Nasdaq Capital Market. This action follows a notice received on August 9, 2022, stating that the company failed to meet the minimum bid price requirement of $1.00 for 30 consecutive business days under Nasdaq Listing Rule 5450(a)(1). The transfer application was submitted on January 24, 2023, to address this deficiency.
Guidance, Outlook, and Risks
Management expects that upon consummation of the transfer, the common stock will continue to trade under the symbol "OCX." The company anticipates filing a subsequent Form 8-K to confirm the effective date of the transfer. The filing includes standard forward-looking statement disclaimers, noting that actual results may differ due to risks and uncertainties, including the possibility that the stock may not continue to trade under the current symbol. No specific financial guidance or operational outlook is provided in this document.
Investor Verification Checklist
- Verify the final approval date of the transfer from the Nasdaq Global Market to The Nasdaq Capital Market.
- Confirm that the stock continues to trade under the symbol "OCX" post-transfer.
- Review the company's most recent Form 10-K and 10-Q for detailed financial performance and liquidity status, as this 8-K contains no financial data.
- Monitor future filings for updates on the company's progress in meeting the minimum bid price requirement to avoid potential delisting.