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Cancer Diagnostic Company Biocept's Stock Doubles In Value: What You Need To Know

Cancer Diagnostic Company Biocept's Stock Doubles In Value: What You Need To Know

Shares of Biocept Inc (NASDAQ: BIOC), a molecular diagnostics company specializing in biomarker analysis of circulating tumor-associated DNA, are making a strong upward move Monday.

What Happened

Biocept announced the commercial launch of its Target Selector NGS Lung Panel, a multi-gene liquid biopsy panel developed specifically for lung cancer.

The panel runs on Thermo Fisher Scientific Inc. (NYSE: TMO)'s next-generation sequencing, or NGS, platform, according to Biocept. 

"The panel combines Biocept's laboratory and commercial infrastructure, as well as the company's expertise in blood sample preservation and DNA/RNA isolation with Thermo Fisher's industry leading next generation sequencing panel and informatics technology, branded as Oncomine," the company said. 

Why It's Important

Lung cancer is the leading cause of cancer deaths in the U.S., with an estimated 155,870 deaths in 2017, Biocept said.

The available FDA-approved targeted therapies could be put to good use if the molecular characterization of a patient's cancer is diagnosed on time and accurately, the company said. 

Lung cancers are difficult to diagnose due to their location.

With Biocept's liquid biopsy, which uses a simple blood sample to obtain molecular information, this handicap can be overcome.

"This new solution makes Biocept the only commercial liquid biopsy company that can offer customers the flexibility to order either a customized single biomarker assay or a larger NGS-based liquid biopsy test panel for use when more comprehensive testing is desired," CEO Michael Nall said in a statement. 

Biocept shares were trading up by 52.44 percent to $1.25 at the time of publication Monday. 

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Posted-In: Biotech News Movers Trading Ideas General Best of Benzinga


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