Biocept Inc (NASDAQ: BIOC) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced news surrounding a newly issued patent, exciting investors and sending the stock screaming for the top. Today, we’ll talk about:
- The newly issued patent;
- what we’re seeing from BIOC stock as a result; and
- what we’ll be watching for ahead.
BIOC Announces New Patent
As mentioned above, Biocept is having an incredibly strong start to the trading session this morning after the company announced that it has been issued a new patent. In a press release issued early this morning the company announced that it has been granted European Patent No. 2,705,162. The patent is titled METHODS FOR DETECTING NUCLEIC ACID SEQUENCE VARIANTS. Essentially, the patent provides BIOC with IP protection in seven European countries surrounding Target Selector assays for ctDNA analysis using real-time PCR, Sanger sequencing and next-generation sequencing. In a statement, Lyle Arnold, Ph.D., CSO at BIOC, had the following to offer:
The issuance of this patent further expands a series of worldwide patents protecting our proprietary, highly sensitive ctDNA platform technology into several key European countries, which we believe could be important markets for our liquid biopsy tests… Our patents related to ultra-sensitive mutation detection, ctDNA analysis and CTC capture, combined with those for our blood transport tubes provide significant international coverage protecting all three of our core liquid biopsy technology platforms.
The above statement was followed up by Michael Nall, President and CEO at BIOC. Here’s what he had to offer:
Obtaining this patent provides additional intellectual property protection for the unique and novel features of our Target Selector™ liquid biopsy platform used for ctDNA analysis… We now have 27 issued patents globally that cover our core technologies and support our initiative to expand our business into key markets around the world.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to news. In the case of Biocept, the news proved to be overwhelmingly positive. After all, the new patent will help the company ward off competition, keepign its core products protected. So, it’s no surprise that the stock is making a run for the top as excited investors react to the news. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:18), BIOC is trading at $5.70 per share after a gain of $1.09 per share or 23.64% 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 surrounding their Target Selector assays as well as the rest of the company’s products and pipeline. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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