Biocept Inc (NASDAQ: BIOC) is having an incredibly strong start to the trading session in the pre-market hours this morning, and for good reason. The company announced new with regard to study data that’s leading to excitement among investors. Today, we’ll talk about that news, what we’re seeing from the stock, and what we’ll be watching with regard to BIOC ahead.
BIOC Announces Positive Data
As mentioned above, Biocept is having an overwhelmingly strong start to the trading session in the pre-market hours after releasing data. Early this morning, the company issued a press release surrounding recently acquired data.
In the release, the company announced that incorporation of the Thermo Fisher QuantStudio5, also known as QS5, real-time PCR instrument into their Target SelectorTM ctDNA lung cancer assays improves the detection of key lung cancer mutations. BIOC said that data from 3,000 samples were analyzed through the use of the company’s liquid biopsy assays for EGFR, BRAF and KRAS mutations, it was able to demonstrate single mutant copy detections on the QS5 platform with more than 99% sensitivity and more than 99% specificity.
In the release, BIOC said that it plans on presenting the full results in a poster at the Fift AACR-IASLC International Joint Conference: Lung Cancer Translational Science from the Bench to the Clinic. The event will be held from January 8th to 11th in San Diego. In a statement, Veena Singh, MD, Vice President and Senior Medical Dirctor at Biocept had the following to offer:
“These results demonstrate that the high sensitivity of our Target SelectorTM ctDNA assay platform is further improved by the use of QS5 versus the PCR instrument we previously used…. The ability to rapidly and accurately assess the molecular status of a patient’s tumor using a simple blood draw can be a critical factor in the selection of individualized targeted therapy. Our tests can further provide for the monitoring of response to therapy over time without invasive tissue biopsies that can be difficult to perform in patients diagnosed with cancer.”
The above statement was followed up by Michael Nall, CEO and President at BIOC. Here’s what he had to offer:
“We are very pleased to showcase the superb performance of our Targeted SelectorTM ctDNA assays using the QS5 at this conference attended by professionals directly involved in the care of patients with lung cancer… We believe that these results further solidify our leadership position in the liquid biopsy segment and are representative our our actions to build the body of evidence supporting the analytical performance and clinical utility of our proprietary liquid biopsy tests.”
What We’re Seeing From The Stock
One of the first things that we learn when we start to dabble in the market is that the news causes movement. In this particular case, the news surrounding Biocept proved to be overwhelmingly positive, leading to excitement surrounding the stock and the strong gains that we’re seeing at the moment. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:18), BIOC is trading at $0.75 per share after a gain of $0.03 per share or 4.87% 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 ongoing development and continued work surrounding the company’s various liquid biopsy tests. Nonetheless, we’ll continue to follow the story closely and bring the story to you as it breaks!
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