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Biocept, Inc. (Nasdaq: BIOC) has entered a development agreement with Aegea Biotechnologies to co-develop a sensitive PCR-based assay for detecting COVID-19. Utilizing Aegea's Switch-Blocker technology, the assay aims to enhance sensitivity and provide strain identification. Biocept holds a first option to negotiate a commercialization license for the assay in its accredited lab. This collaboration is expected to generate incremental revenue through R&D services and potentially improve COVID-19 testing capabilities.
Biocept, Inc. (NASDAQ: BIOC) will release its financial results for the second quarter of 2020 on August 12, 2020, after market close. The company has scheduled a conference call at 4:30 p.m. Eastern time to discuss these results and address questions from the investment community. Biocept specializes in liquid biopsy tests that help physicians obtain critical information for improving cancer treatment outcomes. Their proprietary Target Selector™ technology enables the capture and analysis of tumor-associated molecular markers.
Biocept, Inc. (Nasdaq: BIOC) announced a significant milestone in COVID-19 testing, having received over 7,000 specimens and processed more than 6,500 using RT-PCR technology at its accredited laboratory. They distributed nearly 12,000 specimen collection kits and have 18,000 ready for immediate distribution. With the rise in COVID-19 cases, Biocept expects continued demand for its services. The company is enhancing testing capacity by increasing lab staff and streamlining workflows. Biocept specializes in molecular diagnostics for cancer and leverages its proprietary technology to provide clinically actionable information.
Biocept, Inc. (Nasdaq: BIOC) announced the award of Canadian Patent 2812291, enhancing its capabilities in detecting circulating tumor cells (CTCs) from biological fluids. This patent increases Biocept's total patents to 40, securing its position in molecular diagnostics. The new methods improve the company's Target Selector™ liquid biopsy platform, aiding in capturing and analyzing rare cancer cells. Biocept aims to expand its international footprint and strengthen its intellectual property portfolio for future growth in cancer diagnostics.
Biocept, Inc. (Nasdaq: BIOC) has announced a partnership with Medical Cost Containment Professionals, LLC (MCCP) to manage out-of-network claims for its Target Selector™ liquid biopsy tests. This agreement will help optimize the payment process, as MCCP is known for efficient claims processing. With MCCP's network encompassing over 47 million covered lives, Biocept aims to enhance its reach and collection efficiency. The company plans to pursue additional partnerships to further improve claims adjudication and expand its managed care coverage.
Biocept, Inc. (Nasdaq: BIOC) announced the availability of 10,000 nasopharyngeal specimen collection kits for RT-PCR testing for COVID-19, with results returned within 24-48 hours. The company overcame supply chain challenges by securing necessary components and has plans to develop its own specimen collection media by Q3 2020. Biocept continues its partnership with Thermo Fisher Scientific, utilizing the TaqPath™ platform for testing. This offering aims to enhance testing accuracy and turnaround speed during the ongoing pandemic.