Biocept Implements COVID-19 Testing Program at Select California Community Colleges, Supporting Testing Needs for Students and Staff Amid Pandemic

Rhea-AI Summary

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.

Positive

• Implemented COVID-19 testing at 30+ California community colleges.
• Received over 570,000 samples since June 2020.
• Introduced a digital platform for efficient testing management.
• Surge in testing demand with 50,000+ samples in the last month.

Negative

• Increasing vaccination rates may reduce future COVID-19 testing volume.
• Potential risks regarding the performance of products and services.

Company has received more than 570,000 samples since launching its COVID-19 testing services in 2020 for skilled nursing homes, businesses, college campuses, health care facilities, and other venues

SAN DIEGO--(BUSINESS WIRE)-- Biocept, Inc. (Nasdaq: BIOC), a leading provider of molecular diagnostic assays, products and services, has implemented its COVID-19 testing services at more than 30 community college campuses across California, streamlining the testing and tracking process for administrators, and allowing students and staff to easily schedule and complete COVID-19 testing. Since launching SARS-CoV-2 testing services for customers in June 2020, the company has received more than 570,000 samples for processing.

Many California community colleges have established COVID-19 vaccine and testing policies for students and staff. To support these efforts, Biocept is providing PCR-based COVID-19 testing services that include conveniently located onsite sample collection at college campuses. Samples are collected by health care providers and processed at the company’s CLIA-certified, CAP-accredited laboratory, with results typically available within 48 hours of receipt.

Biocept also offers a digital platform, created specifically for its customers, that provides an integrated system for tracking and managing COVID-19 testing programs. Los Angeles, San Diego and Riverside community colleges are among the first of a growing number of campuses that have implemented the digital platform, allowing students and administrators to record vaccinations, schedule weekly COVID-19 tests, track results and contact trace when necessary.

“As colleges return to in-person instruction, simple and efficient access to COVID-19 testing is essential to the health and safety of individuals on campus and in the community,” said Michael Nall, President and CEO of Biocept. “With the emergence of the Delta variant, we have seen an overall increase in samples, with more than 50,000 samples received in the last month, and are prepared for even higher testing volume to accommodate our college customers. We are proud to provide convenient testing options, ease administrative burdens and support a safe learning environment for our college communities.”

Biocept began offering COVID-19 testing to California community colleges in April 2021, due to its partnership with the Foundation of California Community Colleges and the CollegeBuys program.

About Biocept

Biocept, Inc., develops and commercializes molecular diagnostic assays that provide physicians with clinically actionable information to aid in the diagnosis, treatment and monitoring of patients with cancer. In addition to its broad portfolio of blood-based liquid biopsy tests, the company has developed the CNSide^TM cerebrospinal fluid assay, designed to diagnose cancer that has metastasized to the central nervous system. Biocept also is leveraging its molecular diagnostic capabilities to offer nationwide RT-PCR-based COVID-19 testing and services to support public health efforts during this unprecedented pandemic. For more information, visit www.biocept.com. Follow Biocept on Facebook, LinkedIn and Twitter.

Forward-Looking Statements Disclaimer

This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like "may," "will," "could," “designed,” “plan,” "expect," or "believe" or the negative of these words or other variations on these words or comparable terminology. To the extent that statements in this release are not strictly historical, including without limitation statements regarding the ability of Biocept’s testing services to identify and deliver test results within certain timeframes, continued growth in the number of campuses implementing Biocept’s integrated digital platform, the potential for higher volumes of COVID-19 testing and Biocept’s ability to provide physicians with clinically actionable information for treating and monitoring patients diagnosed with a variety of cancers, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous risks and uncertainties, including the risk that increasing vaccination rates may reduce our COVID-19 testing volume as well as the adoption of our digital platform by college campuses, and the risk that our products and services may not perform as expected. These and other risks are described in greater detail under the "Risk Factors" heading of our Quarterly Report on Form 10-Q for the quarter ended June 30, 2021 filed with the Securities and Exchange Commission (SEC) on August 16, 2021. The effects of such risks and uncertainties could cause actual results to differ materially from the forward-looking statements contained in this release. We do not plan to update any such forward-looking statements and expressly disclaim any duty to update the information contained in this press release except as required by law. Readers are advised to review our filings with the SEC, which can be accessed over the Internet at the SEC's website located at www.sec.gov.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210922005336/en/

Media

Andrea Sampson, Sampson PR Group

asampson@sampsonprgroup.com, 562-304-0301

Investors

Jody Cain, LHA Investor Relations

Jcain@lhai.com, 310-691-7100

Source: Biocept, Inc.

FAQ

What recent developments has Biocept announced regarding COVID-19 testing?

Biocept has launched COVID-19 testing services at over 30 community colleges in California, processing over 570,000 samples since June 2020.

How many samples has Biocept processed for COVID-19 testing?

Biocept has processed more than 570,000 samples for COVID-19 testing since its launch.

What digital solutions does Biocept offer for COVID-19 testing?

Biocept offers a digital platform for tracking and managing COVID-19 testing programs for campus administrators and students.

Why is there an increase in demand for Biocept's COVID-19 testing services?

The demand has surged due to the emergence of the Delta variant, with over 50,000 samples received in the past month.

What challenges might Biocept face in the future regarding COVID-19 testing?

Biocept may face reduced testing volume due to increasing vaccination rates and potential performance risks of its services.