On March 2, 2023 Oncocyte Corporation (Nasdaq: OCX), a precision diagnostics company, reported that Joshua Riggs has been appointed as its Chief Executive Officer effective February 24, 2023 (Press release, Oncocyte, MAR 2, 2023, View Source [SID1234628069]). Since being named interim CEO in December, Riggs has successfully led the process of restructuring the Company by refocusing product strategy and reducing costs across the organization. Riggs also serves as President and joins the Company’s Board of Directors
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Since his appointment as Interim CEO, Josh has worked quickly, collaboratively, and effectively to significantly reduce the Company’s spend rate, has driven the restructuring of a number of strategic initiatives that were no longer consistent with the Company’s forward strategy, and has engaged with the Board to define and begin to implement the strategic imperatives that will guide the Company’s future path. The Board of Directors unanimously supports Josh’s appointment," said Andy Arno, Board Chair
Oncocyte has differentiated technology in multiple $1B+ clinical and research markets." said Joshua Riggs. "As a company, we remain committed to serving patients, clinicians, and researchers with our innovative portfolio. We believe that capital efficiency, tightly focused product development, and milestone achievement will accelerate our path to sustainable revenue growth and value creation for our shareholders. I look forward to working with the Board and leading the Oncocyte team to achieve our goals
Riggs joined the Company in August 2020 and served as the Company’s General Manager, Transplant and Senior Director of Business Development prior to stepping into the Interim CEO role in December of 2022. Prior to joining Oncocyte, Riggs was a business development strategist with significant experience working with growth-stage molecular diagnostics companies, serving as a principal at Bethesda Group, LLC, a boutique consulting group focused on assisting early and mid-stage diagnostic companies and investment groups moving emerging diagnostic content and platforms to market.