Biocept Inc (NASDAQ: BIOC) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced collaboration news, exciting investors and pushing the stock up. Today, we’ll talk about:
- The collaboration;
- what we’re seeing from BIOC stock as a result; and
- what we’ll be watching for ahead.
BIOC Announces Collaboration News
As mentioned above, Biocept is having an incredibly strong start to the trading session this mroning after the company announced a collaboration. In a press release, the company said that it will collaboration with Providence St. Joseph Health, Southern California as well as its wholly owned affiliates, Providence Saint John’s Health Center and John Wayne Cancer Institute.
According to the release, BIOC and its collaborator will work to conduct a study to validate the use of cerebospinal fluid as a specimin type. In particular, the study will surround the use of CSF with its Target Selector liquid biopsy platform.
In a statement, Santosh Kesari, MD, PhD, Chairman and Professor at the Department of Translational Neurosciences and Neurotherapies, and Director of Neuro-oncology at the Pacific Neuroscience Institute and John Wayne Cancer Institute, had the following to offer:
We look forward to using Biocept’s Target Selector™ technology to evaluate oncologic biomarkers in the CSF of patients with cancer, with the potential to validate a rapid and accurate solution for confirming LM. This study is aimed at addressing a major need in the treatment of metastatic disease, given the devastating nature of LM involvement in many cancer types.
The above statement was followed up by Michael W. Nall, President and CEO at BIOC. Here’s what he had to offer:
We are very pleased to collaborate with Dr. Kesari and Providence St. Joseph Health in this study designed to further validate the clinical utility of our Target Selector™ platform using the CSF of patients with cancer. Among the significant advantages of our liquid biopsy technology is its versatility, which enables its application in a variety of clinical situations and for use with multiple types of biofluids. Results of this study could open new market opportunities for Biocept.
What Were 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 positive.
With the newly-announced collaboration, the company will be working to validate a new specimin type for its Target Selector. Should all go well, it will further expand the product offering and value offered up by the company.
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 $1.09 per share after a gain of $0.05 per share or 4.80% 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, were interested in following the story surrounding the companys continued work to expand the abilities of its Target Selector. Nonetheless, well continue to follow the story closely and bring the news to you as it breaks!
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