Biocept Inc (NASDAQ: BIOC) is having a great start to the trading session this morning, and for good reason. The company announced that it has broadened its commercial focus, exciting investors and sending the stock screaming for the top. Today, we’ll talk about:
- The news;
- what we’re seeing from BIOC stock as a result; and
- what we’ll be watching for ahead.
BIOC Stock Gains On Broadened Commercial Focus
As mentioned above, Biocept is having a strong start to the trading session in the pre-market hours this morning after announcing a broadened commercial focus. The announcement came via press release about an hour ago.
In the release, BIOC said that it will begin commercializing its recently expanded pathology partnership platform. The platform, known as EmpowerTC, will now begin targeting urology and uropathology practices.
In the release, the company said that it has expanded the capability of EmpowerTC to perform biomarker tests that can aid physicians and pathologists in the management of patients diagnosed with prostate cancer. These tests include the androgen receptor splice variant, AR-V7, PTEN, and other cancer biomarker tests that can help physicians determine treatment pathways and provide prognostic information surroundin the aggressiveness of disease.
In a statement, Michael P. Zahalsky, MD, Founder and President of Z Urology in Coral Springs, FL, had the following to offer:
The new uro-oncology biomarkers included in Biocept’s EmpowerTC service enables my pathology team to use cutting-edge liquid biopsy technologies, which can be useful in our practice when making treatment decisions for our patients with prostate cancer. Liquid biopsy testing is becoming an important tool for personalizing cancer treatment, and we look forward to utilizing EmpowerTC to harness predictive and prognostic biomarker information from a simple blood sample.
The above statement was followed up by Michael Nall, President and CEO at BIOC. Here’s what he had to offer:
We are excited to expand our commercial offering into the urology market segment with the new biomarkers incorporated into our EmpowerTC service. We believe that our pathology partnership platform offers urologists and uro-pathologists a unique solution to evaluate and treat their patients diagnosed with prostate cancer, which further distinguishes Biocept from other commercial liquid biopsy services.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. When it comes to Biocept, the news proved to be overwhelmingly positive.
After all, the expanded commercialization news will lead to opportunities to grow revenue. Of course, this is exactly what investors want to see.
So, it’s not surprising to see that excited investors are sending the stock on a run for the top. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:58), BIOC is trading at $1.12 per share after a gain of $0.09 per share or 8.74% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on BIOC. In particular, we’re interested in following the story surrounding the company’s continued work to expand its offering, and therefore, value provided to investors. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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