Biocept Inc (NASDAQ: BIOC) was off to a strong day in the pre-market this morning, and for good reason. The company announced the launch of a new liquid biopsy test. However, at the bell, the stock started finding its way downward, leading it to the red. As is normally the case, our friends at Trade Ideas were the first to alert us to the movement. At the moment (10:28), BIOC is trading at $1.56 per share after a loss of 0.16% thus far today. Below, we'll talk about the new test, why it could lead to great things ahead, and what we'll be watching for moving forward.
BIOC Launches New Liquid Biopsy
As mentioned above, Biocept is having a strong day in the market today after announcing the launch of a new liquid biopsy test. This test in particular uses a progesterone receptor or PR, which can be used for the detection and monitoring of a key biomarker in the blood of patients with breast cancer. In a statement, Michael Nall, President and CEO at BIOC, had the following to offer...
“We now have 14 commercially available liquid biopsy assays as we execute on our initiative to expand our product menu of non-invasive, cost-effective biomarker tests... Our goal is to offer tests to detect and track all clinically actionable biomarkers listed in the NCCN Guidelines® for solid tumors, which we believe is a compelling value proposition for Biocept in the liquid biopsy market.”
Why This Is Such Big News
At the end of the day, BIOC is a company that's focused heavily on the liquid biopsy market. Throughout the past several years, the company has been working hard to bring new, non-invasive tests to the market for the screening of cancer, and they have been overwhelmingly successful in the process.
This is great news as a liquid biopsy is a non-invasive test. After all, if your doctor was worried that you may have cancer, would you rather him draw a little blood or go in for an exploratory surgery in an attempt to take a sample from what is believed to be a tumor? The answer is a no-brainer! At the end of the day, the more of these tests BIOC can get into the market, the better their chances of dominating it.
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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 developments surrounding new biopsy tests the company is launching. We're also interested in seeing how the new test announced today equates to revenue in the future. Nonetheless, we'll continue to follow the story closely and bring the news to you as it breaks!