Biocept Inc (NASDAQ: BIOC) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced that it has entered into a collaboration. Of course, when the news hit the wire, it led to excitement among investors, sending the stock screaming for the top. Today, we’ll talk about the collaboration, what we’re seeing from BIOC as a result, and what we’ll be watching for ahead.
BIOC Gains Big On Collaboration News
As mentioned above, Biocept is having an overwhelmingly strong start to the trading session this morning after announcing that it has entered into a collaboration. In a press release issued early this morning, the company announced that it has entered into a non-binding memorandum of understanding with Thermo Fisher Scientific, Inc. According to the memorandum, the two companies intend to collaborate.
In the release, BIOC said that the first phase of the collaboration will consist of the companies working together to validate Thermo Fisher’s OncomineTM next-generation sequencing liquid biopsy panels in Biocept’s CLIA-certified lab. Once validation and other requirements are complete, Thermo Fisher plans on designating BIOC as a Center of Excellence for oncology-focused liquid biopsy initiatives. The companies will also jointly pursue various commercial opportunities. In a statement, Michael Nall, President and CEO at BIOC, had the following to offer:
We are excited to expand our work with Thermo Fisher by deriving synergies from the combination of cutting-edge technologies and services from both companies… We have enjoyed a strong working relationship with Thermo Fisher from the time we launched our Target SelectorTM liquid biopsy molecular platform, and look forward to bringing additional best-in class liquid biopsy tests to both pharmaceutical and clinical clients from this collaboration
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. In this particular case, the news released by Biocept proved to be overwhelmingly positive. After all, the collaboration that was announced could frame Biocept as a leader in its space as well as drive significant long-run revenue from commercial activities. So, it’s no surprise that the stock is making a run for the top in the market today. At the moment (8:54), BIOC is trading at $0.37 per share after a gain of $0.05 per share (16.13%) 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 Thermo Fisher collaboration. While there has been no definitive agreement signed just yet, if this collaboration does end up moving forward, it could be a big win for both companies involved. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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