Biocept Inc (NASDAQ: BIOC) is flying early on in the trading session this morning, and for good reason. The company announced the commercial launch of a lung cancer screening product, exciting investors and sending the stock on a run 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 Rockets On Lung Cancer Screening Launch
As mentioned above, Biocept is having a great day in the market today after announcing the launch of a lung cancer screening test. The announcement came by way of press release early this morning.
In the release, BIOC announced the commercial launch of its Target Selector NGS Lung Panel. This is a multi-gene liquid biopsy pannel that has been developed for the detection of lung cancer.
The product runs on Thermo Fisher Scientific’s Ion Torrent next generation sequencing (NGS) platform. Moving forward, the product will be marketed to physicians and researchers, and can be used to detect and monitor actionable biomarkers associated with lung cancer.
In a statement, Michael Nall, President and CEO at BIOC, had the following to offer:
We are very pleased to launch our first multi-gene liquid biopsy panel to physicians and researchers in both academic centers and the pharmaceutical industry.
This new solution makes Biocept the only commercial liquid biopsy company that can offer customers the flexibility to order either a customized single biomarker assay or a larger NGS-based liquid biopsy test panel for use when more comprehensive testing is desired.
This new offering complements our existing Target Selector™ testing platform, which focuses on delivering actionable and cost-effective biomarker information to address needs of physicians, healthcare systems and payors as they develop personalized treatment protocols for patients diagnosed with cancer.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to Biocept, the news proved to be incredibly positive.
After all, the commercial launch of the Target Selector means that the company has yet another potential stream of menaingful revenue. So, it’s not surprising that excited investors are pushing the stock up.
As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:44), BIOC is trading at $1.16 per share after a gain of $0.34 per share or 41.46% 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 sales of the Target Selector as well as the rest of their line of liquid biopsy screening kits. Nonetheless, we’ll keep a close eye on thes tory and bring the news to you as it breaks!
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