Biocept (BIOC) Stock Is Meeting Support In The Market

Biocept BIOC Stock NewsBiocept, Inc. (NASDAQ: BIOC)

Biocept (BIOC) Stock Is Meeting Support In The Market

Biocept, Inc. (NASDAQ: BIOC)

BIOC is seeing quite a bit of strong price movement this week. On Monday and Tuesday, we saw a strong spike in the market as Biocept announced that it’s blood-based diagnostic, OncoCEE-BR(TM), was used to determine hormonal status of metastatic breast cancer patients in a prospective study. Today we’ll take a look at the study, the market movement, and what we can expect moving forward.

The BIOC Study

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The study took place at the Columbia University College of Physicians and Surgeons in New York City. In the study, BIOC’s proprietary CTC isolation platform was used to prospectively define hormonal stuts using a simple blood sample in women with Metastic breast cancer. After the samples were compared to the hormonal status results from their corresponding tumor biopsy tissue, the study found that there was a high concordance of results between the tests. Essentially, this means that Biocept has found a way to perform a biopsy using only a simple blood sample.

How The Market Reacted

On Monday and Tuesday, Biocept stock soared; rising from $2.35 per share to $4.05 per share over the course of the two days. However, on Wednesday, the stock saw massive declines; falling back to $3.15 per share by the end of the day. Today, the stock seems to be meeting a bit of support in the market, and gearing up to move in the other direction. After a series of declines and gains, BIOC seems to be straddling the green line. Currently (12:18), the stock is trading at $3.13 per share after a slight decline of 0.72%. However, I wouldn’t be surprised if it reversed direction once again and made it to the green by the end of the day.

What We Can Expect Moving Forward

The results from Biocept proves a major medical advancement. Think about it, if you were a patient, would you rather go through a tissue biopsy or a blood sample biopsy? The answer is pretty cut and dry for most people! With that said, as the company continues to develop this technology, I’m expecting to see great things from them in the long run.

What Do You Think?

Where do you think BIOC is headed and why? Let us know in the comments below!

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