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Biocept, Inc (Nasdaq: BIOC) will present a company overview at the LD Micro Main Event on October 13, 2021, at 11:00 a.m. PT in Los Angeles. This presentation will be led by Michael Nall, President and CEO. A pre-recorded webcast will be accessible on the company's Events and Presentations webpage starting at the same time as the presentation. Biocept specializes in molecular diagnostic assays for cancer detection and monitoring, and also offers RT-PCR-based COVID-19 testing.
Biocept has implemented its COVID-19 testing services at over 30 community colleges in California, processing more than 570,000 samples since June 2020. The company provides PCR-based testing with results typically available within 48 hours. A digital platform for tracking testing programs has been introduced to assist college administrators and students. Demand has surged due to the Delta variant, with more than 50,000 samples collected in the last month. Biocept began offering these services in April 2021 through partnerships to support public health.
Biocept (NASDAQ: BIOC) will present data on its Target Selector™ assay for KRAS mutations on Sept. 23 at the RAS-Targeted Drug Development Summit. The Switch-Blocker™ technology enhances therapeutic tumor response monitoring and offers cost-effective serial testing. KRAS mutations are prevalent in about 25% of tumors, driving critical cancers. Biocept's assays demonstrate high sensitivity, detecting mutant DNA at 0.02% levels. The company's technology aids in the development of targeted therapies, streamlining patient selection for clinical trials.
Biocept (Nasdaq: BIOC) has announced that President and CEO Michael Nall will present at four upcoming investor conferences from September 13 to September 30, 2021. The conferences include the H.C. Wainwright 23rd Annual Global Investment Conference, Oppenheimer Fall Healthcare Life Sciences & MedTech Conference, Cantor Virtual Healthcare Conference, and Benzinga Healthcare Small Cap Conference. Presentations will be available for streaming on the company’s website and archived for 90 days. Biocept specializes in molecular diagnostics for cancer and COVID-19 testing.
Biocept (NASDAQ: BIOC) has granted inducement stock options to purchase 220,800 shares to 16 new employees. The options were awarded on August 31, 2021, at an exercise price of $3.62 per share, equivalent to the stock's closing price on that date. These non-qualified options will have a ten-year term and vest over four years, with 25% vesting after one year and the remainder vesting monthly over the next three years. This move aligns with Nasdaq rules and aims to attract and retain talent in the company.
Biocept (Nasdaq: BIOC) announced promising data on its CNSide™ cerebrospinal fluid assay, which successfully detected tumor cells and actionable mutations in lung cancer patients with leptomeningeal carcinomatosis (LMC). The study showed CNSide achieved 100% detection of tumor cells compared to 40% with traditional cytology, allowing for targeted treatment that improved patient outcomes and extended life expectancy by over three years. This advancement may provide significant benefits in treating LMC, a condition often deemed terminal.
Biocept, a provider of molecular diagnostics, reported a profitable first half of 2021 with revenues nearing $30 million, largely due to RT-PCR COVID-19 testing. Q2 revenues were $12 million, reflecting a decline in COVID-19 testing as vaccination rates increased, but testing volume is rebounding due to the Delta variant. The company also saw growth in its CNSide assay orders, with over 30 academic institutions now using it. Additionally, Medicare announced high-value coverage for the Target Selector breast cancer assay, effective July 4, 2021.
Biocept, Inc. (Nasdaq: BIOC) will release its financial results for Q2 2021 after market close on August 16, 2021. A conference call is scheduled for 4:30 p.m. ET to discuss these results and address inquiries from investors. Participants can pre-register for the call to streamline access. Biocept specializes in molecular diagnostic assays for cancer detection and monitoring, offering products like the CNSide™ assay for detecting cancer in the central nervous system.
Biocept (Nasdaq: BIOC) has appointed David Karlander as Senior Vice President of Commercial Operations. With over 25 years in the industry, he will oversee sales, marketing, and reimbursement strategies, reporting to President and CEO Michael Nall. Karlander has extensive experience in diagnostics and oncology, having previously held key positions at Mission Bio, Exact Sciences, and Novartis. His expertise is expected to enhance Biocept’s core oncology business, particularly the commercialization of the CNSide™ assay, aimed at diagnosing metastatic cancer.
Biocept, Inc. (Nasdaq: BIOC) announced a positive Local Coverage Determination (LCD) from CMS for its Target Selector assay, which identifies the HER2 biomarker from circulating tumor cells (CTCs). Effective July 4, 2021, this coverage enhances access for breast cancer patients needing HER2 testing, especially when tissue samples are unavailable. The assay, less invasive and more cost-effective than traditional biopsies, assists oncologists in treatment decisions. Biocept is also pursuing FDA Breakthrough Device Designation for its CNSide assay to improve management of central nervous system metastatic cancer.