Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

Schedule of Fair Value Measurement of Financial Assets and Liabilities

The following tables present the Company’s assets and liabilities, measured and recognized at fair value on a recurring basis, classified under the appropriate level of the fair value hierarchy:

	As of September 30, 2023
	Fair value		Level 1		Level 2		Level 3
	(In thousands)
Assets:
Marketable equity securities	$	441	$	441	$	-	$	-
Total	$	441	$	441	$	-	$	-
Liabilities:
Contingent consideration liabilities (Note 3)	$	28,715	$	-	$	-	$	28,715
Total	$	28,715	$	-	$	-	$	28,715

	As of December 31, 2022
	Fair value		Level 1		Level 2		Level 3
	(In thousands)
Assets:
Marketable equity securities	$	433	$	433	$	-	$	-
Total	$	433	$	433	$	-	$	-
Liabilities:
Contingent consideration liabilities (Note 3)	$	45,662	$	-	$	-	$	45,662
Total	$	45,662	$	-	$	-	$	45,662

Schedule of Disaggregation Of Revenue

The following table presents consolidated revenues by service:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
	(In thousands)
Pharma Services	$	423	$	67	$	1,137	$	684
Laboratory developed test services		6		-		52		-
Total	$	429	$	67	$	1,189	$	684

Schedule of Concentration Of Risk

The following table presents the percentage of consolidated revenues by service:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2023			2022			2023			2022
Pharma Services		99	%		100	%		96	%		100	%
Laboratory developed test services		1	%		0	%		4	%		0	%
Total		100	%		100	%		100	%		100	%

Schedule of Consolidated Revenues Generated by Unaffiliated Customers

The following table presents the percentage of consolidated revenues generated by unaffiliated customers, based on the respective periods presented, that individually represented greater than ten percent of consolidated revenues:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2023			2022			2023			2022
Pharma services - Company A		57	%		28	%		42	%		60	%
Pharma services - Company B		41	%		22	%		34	%		11	%
Pharma services - Company C		*			22	%		*			*
Pharma services - Company D		*			19	%		*			*

* Less than 10%

Schedule of Percentage of Consolidated Revenues Attributable to Geographical Locations

The following table presents the percentage of consolidated revenues attributable to geographical locations:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2023			2022			2023			2022
United States – Pharma Services		42	%		76	%		54	%		74	%
Outside of the United States – Pharma Services		57	%		24	%		41	%		26	%
United States – Laboratory developed test services		1	%		0	%		4	%		0	%
Total		100	%		100	%		100	%		100	%

Schedule of Common Stock Computation of Diluted Net Loss Per Share of Common Stock

All common stock equivalents are antidilutive because Oncocyte reported a net loss for all periods presented. The following table presents the calculation of basic and diluted loss per share of common stock:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2023			2022			2023			2022
	(In thousands, except per share data)
Numerator:
Net loss attributable to Oncocyte Corporation	$	(6,489	)	$	(9,333	)	$	(11,789	)	$	(27,924	)
Accretion of Series A redeemable convertible preferred stock		(198	)		(294	)		(621	)		(294	)
Deemed dividend on Series A redeemable convertible preferred stock		-			-			(118	)		-
Net loss attributable to common stockholders - basic and diluted	$	(6,687	)	$	(9,627	)	$	(12,528	)	$	(28,218	)
Denominator:
Weighted average shares used in computing net loss per share attributable to common stockholders - basic and diluted		8,256			5,931			7,446			5,408
Basic and diluted net loss per common share	$	(0.81	)	$	(1.62	)	$	(1.68	)	$	(5.22	)
Anti-dilutive potential common shares excluded from the computation of diluted net loss per common share:
Stock options		501			717			501			717
RSUs		5			29			5			29
Warrants		820			820			820			820
Series A redeemable convertible preferred stock		5			4			5			4
Total		1,331			1,570			1,331			1,570