Biocept Inc (NASDAQ: BIOC)
Biocept is having an incredible day in the market today after announcing the launch of a new testing parameter. Biocept is involved in testing for various cancers without an intrusive tissue biopsy. Instead, the company focuses on liquid biopsies. Today, we'll talk about the new testing parameter, what it means for BIOC, how the market is reacting to the news, and what we can expect to see moving forward.
Biocept Launches CLIA-validated Androgen Receptor Expression Assay
Biocept has launched several liquid biopsy tests over the past year, and it doesn't seem as though the company's innovation is going to come to an end any time soon. In fact, today it was announced that BIOC has launced the CLIA-validated androgen receptor expression assay, a test that uses the patient's blood as a medium to detect and monitor late-stage prostate cancer as well as specific forms of breast cancer. The new test uses circulating tumor cells derived from a blood sample in an attempt to detect androgen receptor expression. This expression is overwhelmingly prevalent among patients that have advanced stage prostate cancer. Because prostate cancer is the second leading cause of male cancer-related death as well as the second most commonly diagnosed cancer in the United States, it is estimated that there will be incredibly high levels of demand for the new test. In a statement, Michael W. Nall, the President and CEO of BIOC had the following to say:
“This test represents a significant milestone in which we expand into prostate cancer and further demonstrate the versatility of our proprietary liquid biopsy platforms... We continue to build on our leadership position in the emerging liquid biopsy field with commercialized tests for the detection and monitoring of lung, breast, colon, gastric and now prostate cancers.”
How BIOC Reacted To The News
As investors, we've come to expect that any time positive news is released with regard to a publicly traded company, we will see gains. That's exactly what we're seeing from BIOC today. Currently (11:10), the stock is trading at $1.58 per share after a gain of 18.87% so far today.
What The New Test Means For BIOC
This news is absolutely huge for Biocept. The company is in the process of revolutionizing the way cancer is diagnosed and treated. While revolutionary changes are never easy, Biocept seems to be very successful in reaching their goals. As mentioned by the CEO, BIOC has now added prostate cancer to their long list of cancers detectable through liquid biopsies. This further validates Biocept's goal of creating a system of less intrusive and faster testing for those experiencing cancer-related symptoms.
What We Can Expect To See From BIOC Moving Forward
Moving forward, I have an overwhelmingly positive opinion of what we can expect to see from BIOC. The company has come up with several liquid biopsy tests, proving that their method of cancer detection is effective. They have also proven to be successful in the commercialization of these tests. All in all, the new prostate cancer test not only validates the company's goal, but will likely lead to further gains for BIOC and its investors.
What Do You Think?
Where do you think BIOC is headed moving forward? Let us know your opinion in the comments below!
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