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Biocept, Inc. (Nasdaq: BIOC) has processed over 80,000 COVID-19 samples using its RT-PCR technology at its accredited lab. In the past three weeks, approximately 30,000 samples were received, indicating a significant increase in testing capacity. CEO Michael Nall emphasized the company's commitment to providing timely results, with most tests completed within 48 hours. The company continues to expand its testing resources as the third wave of COVID-19 affects the country. Biocept also specializes in molecular diagnostics for various cancers.
Biocept, Inc. (Nasdaq: BIOC) has processed over 50,000 COVID-19 specimens using its RT-PCR technology at its accredited molecular laboratory. The company is delivering most test results within 48 hours. Biocept's COVID-19 testing clientele includes hospitals and corporate clients, and it has developed its own specimen collection kits, which have received verification for their viricidal properties. The company plans to validate these kits in its lab before seeking FDA Emergency Use Authorization.
Biocept, Inc. (Nasdaq: BIOC) announced results from a study comparing its Target Selector™ cerebrospinal fluid testing to conventional cytology for diagnosing leptomeningeal metastasis in lung cancer patients. Conducted on 28 samples from 15 patients, Target Selector™ detected circulating tumor cells in 78% of samples, outperforming cytology's 55%. Additionally, it quantitatively identified actionable EGFR mutations, revealing changes in tumor markers before traditional evaluations. Experts view these findings as promising for improving treatment assessments, underscoring the need for further studies in this area.
Biocept, a leader in molecular diagnostics, announced a presentation on October 2, 2020, by Dr. David Berz at the IASLC Virtual Meeting. The presentation will cover results from a study using Biocept's Target Selector™ testing on cerebrospinal fluid in patients with non-small cell lung cancer (NSCLC), specifically evaluating metastases. This method aims to improve diagnosis compared to traditional cytology. Approximately 3-4% of NSCLC patients experience central nervous system involvement, making this research crucial for enhancing patient outcomes.
Biocept, Inc. (Nasdaq: BIOC) has been awarded Japanese Patent No. 6734887 for its innovative Primer-Switch technology, aimed at detecting rare mutations and cancer biomarkers from circulating tumor DNA (ctDNA) via PCR analysis and next-generation sequencing (NGS). This patent is the third issued for the technology, enhancing Biocept's intellectual property portfolio and differentiating it within the liquid biopsy market. The technology enables precise amplification of oncogene mutations, critical for patient management in oncology.
Biocept (Nasdaq: BIOC) announced that Highmark, the fourth-largest Blue Cross Blue Shield affiliate, has approved coverage for Biocept's Target Selector liquid biopsy assay for diagnosing and treating non-small cell lung cancer (NSCLC). This coverage, following a two-year evaluation by the Allegheny Health Network Cancer Institute, will benefit 5.6 million members across Pennsylvania, Delaware, and West Virginia. The evaluation showcased the assay's ability to reduce invasive biopsies and lower healthcare costs while providing accurate molecular profiling for targeted therapies.
Biocept has processed over 35,000 COVID-19 specimens through its RT-PCR technology at its certified lab and expects a reimbursement of about $100 per test. With approximately 83,000 specimen collection kits distributed and plans to develop its own kits, Biocept aims to enhance testing capacity. The company reports timely results, with most tests delivered within 48 hours. This momentum is anticipated to significantly impact third-quarter revenues, especially as the company expands its service to multiple states beyond California.
Aegea Biotechnologies has been selected as a semi-finalist in the $5 million XPRIZE Rapid COVID Testing competition. This initiative aims to enhance COVID-19 testing capabilities significantly. Aegea's innovative PCR-based assay utilizes proprietary Switch-Blocker technology, allowing for high sensitivity in detecting SARS-CoV-2. Collaborating with Biocept, Aegea aims to commercialize this test swiftly, which stands to offer affordable, fast, and detailed strain-specific results, potentially aiding in managing the pandemic effectively.
Biocept, Inc. (Nasdaq: BIOC) will be presenting at the H.C. Wainwright 22nd Annual Global Investment Conference on September 14, 2020, at 3:30 p.m. Eastern Time (12:30 p.m. Pacific Time). The presentation will feature insights from President and CEO Michael Nall and can be accessed here. Biocept specializes in molecular diagnostics for various cancers and has recently expanded into COVID-19 testing. For additional information, visit www.biocept.com.
Biocept, Inc. (Nasdaq: BIOC) has announced an agreement with Health Net Federal Services to become an in-network provider for its Target Selector™ liquid biopsy oncology platform within the TRICARE West region. This arrangement will make Biocept's services available to approximately three million military members and their families. The partnership aims to enhance treatment outcomes by providing actionable information for personalized cancer treatment plans, aligning with Biocept's strategic goals to expand managed care agreements.