Biocept Inc (NASDAQ: BIOC) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced that it has been awarded a new patent, exciting investors and sending the stock on a run for the top. Today, we’ll talk about:
- The new patent;
- what we’re seeing from BIOC stock as a result; and
- what we’ll be watching for ahead.
BIOC Announces Patent Award
As mentioned above, Biocept is having an incredibly strong start to the trading session this morning after announcing that it has been awarded a new patent. The announcement came by way of press release early this morning.
In the release, BIOC said that the patent was awarded in China. The patent, Number ZL201080019566.9 is titled, DEVICES AND METHODS OF CELL CAPTURE AND ANALYSIS.
Ultimately, the patent covers the methods and devices for the capture of rare cells of interest. These rare cells included CTCs that are shed into the body by solid tumors. From there, an antibody or mixture of antibodies, and a microchannel are used for cell capture, detection, and analysis.
In the release, the company said that the new patent covers the use of any biological sample type of interest. This is the 33rd patent issued to the company that is core to its liquid biopsy technology and commercial testing platform.
In a statement, Lyle Arnold, Ph.D., CSO at BIOC, had the following to offer:
The granting of this patent further expands Biocept’s international footprint for capturing and analyzing rare cells from biological fluids, such as blood, bone marrow, cerebral spinal fluid (CSF), and tissue, to assess the status of patients with cancer.
This technology interfaces well with Biocept’s other patented liquid biopsy technologies that include a blood collect tube and circulating tumor DNA (ctDNA) analysis, which are intended to aid physicians in the treatment of their patients with cancer.
The above statement was followed up by Michael Nall, President and CEO at BIOC. Here’s what he had to say:
Obtaining this new patent provides additional intellectual property coverage for the unique and novel features of our Target Selector™ platform, featuring our antibody cocktail and microchannel capture technologies for CTCs and other rare cells of interest.
We believe that the issuance of additional patents around the world leverages our investment in our cutting-edge liquid biopsy technologies and expands the opportunity for Biocept to generate revenue in territories outside the U.S.
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. In the case of Biocept, the news proved to be incredibly positive.
After all, the new patent further protects the company from competition as it continues to hold a demanding position in the liquid biopsy space. So, it comes as no surprise to see that excited investors are pushing the stock up.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:46), BIOC is trading at $1.56 per share after a gain of $0.32 per share or 25.81% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to watch BIOC incredibly closely. In particular, we’re interested in following the story surrounding the company’s continued work to expand value for investors through IP and sales of its liquid biopsy screening products. Nonetheless, we’ll keep a close eye on the story and bring the news to you as it breaks!
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