Biocept, Inc. (NASDAQ: BIOC)
Biocept is having an incredible start to the trading session today, and for good reason. The company announced that it has reached an agreement with a PPO network. Today, we'll talk about the details of the agreement, what it means for BIOC, how the market is reacting to the news, and what we can expect to see from BIOC moving forward. So, let's get right to it!
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Biocept Has Entered An Agreement With Prime Health Services
Biocept made a huge announcement early this morning. It has entered into an agreement with Prime Health Services, a PPO network. According to the agreement, Prime Health Services clients will now have access to proprietary liquid biopsy testing by BIOC. As a result of the agreement, BIOC coverage has grown to approximately 140 million PPO consumers, which will likely lead to increased sales and a strong earnings report to come. In a statement, Veena Singh, MD., SVP and Senior Medical Director for Biocept, had the following to say:
“Biocept's proprietary liquid biopsy platform uses a simple blood sample to detect the presence of key cancer-associated biomarkers, which can assist with medical decision-making... Determining the molecular status of a tumor can help predict its progression and guide therapy. Our liquid biopsy tests can provide information without invasive surgical procedures, which can involve substantial risk or may not be possible for some patients.”
How The Market Reacted To The News
As investors, we have learned that any time there is positive news with regard to a publicly traded company, we can expect to see gains in the value of the stock associated with that company. The news that BIOC is now in an agreement with Prime Health is indeed overwhelmingly positive news. Prime Health includes more than 700,000 physicians and opens the doors to an amazing potential for Biocept. So naturally, we're seeing incredible gains in the stock today. Currently (11:10), BIOC is trading at $1.2801 per share after a gain of $0.0901 per share or 7.57% thus far today.
What We Can Expect To See Moving Forward
Moving forward, I have an overwhelmingly positive opinion of what we can expect to see from BIOC. I've been following the company for quite some time. Like most people, I've had family members go through the process of cancer, and I know how invasive traditional biopsies can be. So, when I heard that cancer could be detected through a liquid biopsy, I immediately became impressed by the company and its growth ability. Then, when I heard that the liquid biopsies could not only detect cancer, but could give doctors a look into the best ways to treat cancer, this was absolutely incredible. Now, as more and more news comes out with the positive commercialization of the liquid biopsies, things are just looking more and more appealing. Now, BIOC has the ability to reach out to a market of about 140 million patients and that market is only likely to grow. All in all, things are looking great for BIOC now and moving forward!
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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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