Oncocyte Corporation (Nasdaq: OCX), an Irvine-based cancer diagnostics company, said Ronnie Andrews is stepping down as chief executive and a board director, effective today.
Joshua Riggs, who was general manager, will serve as interim chief executive; Andrews will continue to act as a consultant until Feb. 28.
Riggs was a principal at Bethesda Group LLC, a boutique consulting group focused on helping small and mid-stage diagnostic companies and investment groups move emerging diagnostic content and platforms to market.
Andrews, who was the founder of Bethesda Group before he joined Oncocyte in 2019, gave no reason for his departure.
“I am extremely proud of the work we have done during my three-plus years at Oncocyte,” Andrews said. “We took a company from a single product research shop to a molecular diagnostics company with a solid portfolio of high-value tests that have already impacted patients’ lives.”
The Lake Street analyst firm downgraded the shares today to sell.
Shares of the company were unchanged at 47 cents and a $56 million market cap.
