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The Nasdaq and the S&P 500 rose to record closing highs on Friday following upbeat forecasts from Lululemon Athletica and other companies and as US jobs data fuelled expectations the Federal Reserve would cut interest rates this month. The Dow finished lower, as a 5.1% drop in UnitedHealth Group shares weighed on the index. The S&P 500 consumer discretionary index rose 2.4% to hit an all-time closing high. It led gains among sectors, boosted by Lululemon. Shares of Lululemon Athletica jumped 15.9% after the sportswear maker increased full-year forecasts. Also in the consumer discretionary space, shares of cosmetics retailer Ulta Beauty advanced 9% after the company raised its annual profit forecast. The US Labour Department report showed job growth surged in November, but an increase in the unemployment rate to 4.2% pointed to an easing labour market. “It does support the case for the Fed to continue to cut rates in the December meeting and into the first quarter,” said Bill Northey, Senior Investment Director at US Bank Wealth Management in Billings, Montana. The Dow Jones Industrial Average fell 123.19 points, or 0.28%, to 44,642.52, the S&P 500 gained 15.16 points, or 0.25%, to 6,090.27 and the Nasdaq Composite gained 159.05 points, or 0.81%, to 19,859.77. The S&P 500 registered its 57th record closing high for 2024, while the Nasdaq Composite posted its 36th record high close for the year. For the week, the Nasdaq gained 3.3%, the S&P 500 rose about 1% and the Dow fell 0.6%. Following the data, US rate futures were pricing in roughly a 90% chance the Fed will lower interest rates by 25 basis points at its December 17-18 policy meeting, according to LSEG calculations which previously saw just a 72% chance. The Fed has lowered rates by 75 basis points since September, when it launched its easing cycle. Fed Governor Michelle Bowman said inflation risks remained, which augured caution with rate decisions. Shares of health insurance companies including UnitedHealth extended declines from the previous session, two days after Brian Thompson, CEO of UnitedHealth’s health insurance unit, was fatally shot outside a Manhattan hotel. The shooter remained at large and his motive has not been determined. The death sparked comments on social media over frustrations with the US health insurance system. Among other stock moves, shares of Facebook-owner Meta Platforms were up 2.4% after a US appeals court upheld a law requiring China-based ByteDance to divest its popular short video app TikTok by early next year or face a ban. The Cboe Volatility Index, Wall Street’s fear gauge, ended down 0.77 point at 12.77 in its lowest finish since mid-July. Declining issues outnumbered advancers by a 1.01-to-1 ratio on the NYSE. There were 354 new highs and 98 new lows on the NYSE. On the Nasdaq, 2,610 stocks rose and 1,678 fell as advancing issues outnumbered decliners by a 1.56-to-1 ratio. Volume on US exchanges was 12.99 billion shares, compared with the 14.5 billion average for the full session over the last 20 trading days. Save my name, email, and website in this browser for the next time I comment. Δ document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() );
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IRVINE, Calif., Dec. 04, 2024 (GLOBE NEWSWIRE) -- Oncocyte Corp. (NASDAQ: OCX), a diagnostics technology company, today announced the publication of favorable data regarding its DetermaCNITM assay. In a paper recently published in the journal Acta Neuropathologica Communications, DetermaCNI showed promise as a liquid biopsy method for diagnosing and profiling central nervous system tumors by measuring somatic copy number aberrations (SCNAs) in cerebrospinal fluid. For context, copy number instability (CNI) is a scientifically well-known hallmark of cancer. DetermaCNITM is a patented approach to measuring CNI for the diagnosis and monitoring of cancer. Nearly 300,000 patients in the U.S. each year face primary brain tumors or brain metastasis 1 . The current standard of care for the confirmation and classification of brain tumors often involves high-risk, highly invasive biopsy of brain tissue. Thus, a liquid biopsy method for diagnosing brain tumors could offer significant benefits over currently available methods, representing a potential $300 million U.S. market opportunity. Among the study authors were Oncocyte Chief Science Officer Ekke Schuetz and Senior R&D Director Julia Beck. “This was a proof of principle study to assess whether copy number instability could be measured in the cerebrospinal fluid of patients with brain cancer. The findings suggest that a significant number of the nearly 300,000 patients diagnosed with brain tumors every year in the U.S. could benefit from DetermaCNI,” Dr. Schuetz said. “We congratulate the research team in Frankfurt on the publication of this study in an area of high unmet need.” As noted in the paper, the gold standard for precise diagnostic classification of brain tumors requires a biopsy, with risks including limited sensitivity and failing to measure the diverse potential regions of the tumor. SCNAs were observed in the cerebrospinal fluid of ten out of the 12 patients with confirmed central nervous system cancers. SCNAs were not observed in any of the 11 patients with benign or unclear central nervous system lesions. The detection of SCNAs is highly specific for tumor-derived cell-free DNA (cfDNA). Overall, this new study demonstrates DetermaCNI’s potential for providing a molecularly informed diagnosis of central nervous system cancers, mapping tumor heterogeneity, tracking tumor evolution, and surveilling tumor patients through a liquid biopsy of cerebrospinal fluid. Oncocyte believes this study validates the future clinical potential for DetermaCNI, as well as the direction of the company’s research and development pipeline, which is designed to drive sustained rapid growth over the next decade. Oncocyte’s mission is to democratize access to molecular diagnostic testing to improve patient outcomes. The company is investing in developing products to serve the separate verticals of organ transplant testing and oncology. Oncocyte is presently commercializing its transplant product line, which includes the VitaGraftTM and GraftAssureTM tests. It expects to commercialize its oncology assays over the next two years. _______________ 1 “Brain Metastases.” MD Anderson Cancer Center , www.mdanderson.org/cancer-types/brain-metastases.html. And “Brain Tumor Facts.” National Brain Tumor Society , 20 Feb. 2024, braintumor.org/brain-tumors/about-brain-tumors/brain-tumor-facts/. About Oncocyte Oncocyte is a diagnostics technology company. The Company’s tests are designed to help provide clarity and confidence to physicians and their patients. VitaGraftTM is a clinical blood-based dd-cfDNA solid organ transplantation monitoring test. GraftAssureTM is a research use only (RUO) blood-based solid dd-cfDNA organ transplantation monitoring test kit for decentralized use. DetermaIOTM is a gene expression test that assesses the tumor microenvironment to predict response to immunotherapies. DetermaCNITM is a blood-based monitoring tool for monitoring therapeutic efficacy in cancer patients. For more information about Oncocyte, please visit https://oncocyte.com/ . For more information about our products, please visit the following web pages: VitaGraft KidneyTM - https://oncocyte.com/vitagraft-kidney/ VitaGraft Liver TM - https://oncocyte.com/vitagraft-liver/ GraftAssureTM - https://oncocyte.com/graftassure/ DetermaIOTM - https://oncocyte.com/determa-io/ DetermaCNITM - https://oncocyte.com/determa-cni/ VitaGraftTM, GraftAssureTM, DetermaIOTM, and DetermaCNITM are trademarks of Oncocyte Corporation. CONTACT: Jeff Ramson PCG Advisory (646) 863-6893 jramson@pcgadvisory.com Forward-Looking Statements Any statements that are not historical fact (including, but not limited to statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects,” “estimates,” “may,” and similar expressions) are forward-looking statements. These statements include those pertaining to, among other things, the belief that the new study validates the future clinical potential for DetermaCNI, as well as the direction of the company’s research and development pipeline, the expectation that Oncocyte will commercialize its oncology assays over the next two years, and other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of diagnostic tests or products, uncertainty in the results of clinical trials or regulatory approvals, the capacity of Oncocyte’s third-party supplied blood sample analytic system to provide consistent and precise analytic results on a commercial scale, potential interruptions to supply chains, the need and ability to obtain future capital, maintenance of intellectual property rights in all applicable jurisdictions, obligations to third parties with respect to licensed or acquired technology and products, the need to obtain third party reimbursement for patients’ use of any diagnostic tests Oncocyte or its subsidiaries commercialize in applicable jurisdictions, and risks inherent in strategic transactions such as the potential failure to realize anticipated benefits, legal, regulatory or political changes in the applicable jurisdictions, accounting and quality controls, potential greater than estimated allocations of resources to develop and commercialize technologies, or potential failure to maintain any laboratory accreditation or certification. Actual results may differ materially from the results anticipated in these forward-looking statements and accordingly such statements should be evaluated together with the many uncertainties that affect the business of Oncocyte, particularly those mentioned in the “Risk Factors” and other cautionary statements found in Oncocyte’s Securities and Exchange Commission (SEC) filings, which are available from the SEC’s website. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they were made. Oncocyte undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.Laval Rouge et Or win Vanier Cup with 22-17 victory over Wilfrid Laurier Golden HawksThe Center for Research on Programmable Plant Systems (CROPPS) is excited to welcome Liz Jones as the Center’s first Assistant Director for Research. Jones brings more than 20 years of experience in research management and scientific leadership, specializing in molecular and genomic applications that drive innovation in agriculture. In her role at CROPPS, Jones will coordinate research activities across interdisciplinary teams based at six research institutions: Cornell University, Boyce Thompson Institute, Colorado State University, Tuskegee University, the University of Arizona, and the University of Illinois Urbana-Champaign. She will work closely with CROPPS principal investigators and research leads to develop and manage translational research for CROPPS technologies, and ensure timely delivery of project milestones. With her proven expertise in collaboration and team management, Jones will also enhance CROPPS’ collaborative research culture as part of its focus on team science.
