Biocept Inc (NASDAQ: BIOC) is flying early on in the trading session this morning, and for good reason. The company announced a new agreement surrounding its liquid biopsy technology that excited investors, sending the stock running up. Today, we’ll talk about:
- The new agreement;
- what we’re seeing from BIOC stock as a result; and
- what we’ll be watching for ahead.
BIOC Heads Up On New Agreement
As mentioned above, Biocept is having a strong start to the trading session this morning after announcing a new agreement. In a press release issued early this morning, the company said that it entered into an agreement with Agiomix FZ-LLC.
Agiomix is a provider of genomics sample and bioinformatics services to customers around the world in both the research and clinical settings.
According to the agreement, Agiomix is planning on validating the patented and proprietary liquid biopsy technology developed by BIOC in order to perform testing for the detection of tumor biomarkers. This testing will be performed in Agiomix’s UAE-based diagnostics lab and will be validated to ensure comparability of results achieved in the San Diego-based CLIA-certified CAP-accredited lab used by BIOC.
It is expected that once validation is complete, Agiomix will purchase the company’s liquid ipsy kits for use in its lab to test samples received from the Middle East, Africa and Asia.
In a statement, John Clarkson PhD, CEO at Agiomix, had the following to offer:
At Agiomix, our focus is to provide tumor biomarker testing services to support the initiatives of global bio-therapeutics companies that are bringing leading-edge targeted cancer therapies to emerging markets, and therefore we are dedicated to bringing the best-in-class liquid biopsy technologies into our laboratory. We are pleased to enter into this agreement, which will allow us to offer Biocept’s liquid biopsy solutions to our customers.
The above statement was followed up by Michael Nall, President and CEO at BIOC. Here’s what he had to offer:
We recently launched our liquid biopsy kit business, and are looking forward to working with Agiomix in their growing markets as our first Target Selector™ kit customer. Our strategy is to enable molecular laboratories around the world to exclusively license and utilize our technologies, including test kits and blood collection tubes, in specific regions as we seek to create a leading global brand in the liquid biopsy market.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn when we start to work in the market is that it’s important to follow the news. After all, the news moves the market. When it comes to Biocept, the news proved to be incredibly positive. After all, the company just recently announced the availability of these kits, and it looks like Agiomix is going to be one of the first to get their hands on this technology, validating the company’s plans to market it. So, it’s not surprising to see that excited investors are pushing the stock up in the market this morning. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:05), BIOC is trading at $2.06 per share after a gain of $0.18 per share or 9.57% 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 the use of its liquid biopsy technology through its kit offering. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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