Biocept Provides Update on COVID-19 Testing with More than 100,000 Samples Received
Biocept, Inc. (Nasdaq: BIOC) announced it has processed over 100,000 COVID-19 samples through its RT-PCR technology at its CLIA-certified lab. The company provides testing for various clients, primarily in California, and aims to return results within 48 hours. CEO Michael Nall stated that the COVID-19 testing is expected to have a significant positive impact on revenues for 2020 and into 2021. Biocept also specializes in molecular diagnostics for different cancers, utilizing their proprietary liquid biopsy technology for patient monitoring and treatment.
- Over 100,000 COVID-19 samples processed.
- Expected significant revenue growth from COVID-19 testing through 2021.
- Testing services provided to a growing list of clients, including healthcare facilities.
- None.
SAN DIEGO, Nov. 12, 2020 /PRNewswire/ -- Biocept, Inc. (Nasdaq: BIOC), a leading commercial provider of molecular diagnostic tests and services for physicians treating patients with cancer, announces an update on its COVID-19 testing with more than 100,000 samples received to date for processing through its RT-PCR technology at its CLIA-certified, CAP-accredited high-complexity molecular laboratory.
"We are providing COVID-19 testing to a growing list of clients including skilled nursing centers, hospitals, clinics and surgery centers. The majority of our customers are located in California, but we are receiving samples from across the country," said Michael Nall, President and CEO of Biocept. "We are committed to providing this important service during the pandemic and we continue to return the vast majority of COVID-19 test results to our customers within 48 hours of receiving a sample.
"We expect COVID-19 RT-PCR testing will have a significant positive impact on our revenues through the remainder of the year and continuing into 2021," he added.
About Biocept
Biocept, Inc. is a molecular diagnostics company with commercialized assays for lung, breast, gastric, colorectal and prostate cancers, and melanoma. The Company uses its proprietary liquid biopsy technology to provide physicians with clinically actionable information for treating and monitoring patients diagnosed with cancer. The Company's patented Target Selector™ liquid biopsy technology platform captures and analyzes tumor-associated molecular markers in both circulating tumor cells (CTCs) and in circulating tumor DNA (ctDNA). With thousands of tests performed, the platform has demonstrated the ability to identify cancer mutations and alterations to inform physicians about a patient's disease and therapeutic options. Additionally, Biocept is offering nationwide COVID-19 polymerase chain reaction (PCR) testing to support public health efforts during this unprecedented pandemic. For more information, please visit www.biocept.com.
Forward-Looking Statements Disclaimer Statement
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," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," or "project" 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 our expectation that COVID-19 RT-PCR testing will have a significant positive impact on our revenues through the remainder of the year and continuing into 2021, and the ability of Biocept's platform to identify cancer mutations and alterations to inform physicians about a patient's disease and therapeutic options, 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 risk factors as set forth in our Securities and Exchange Commission (SEC) filings. 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.
Investor Contact:
LHA Investor Relations
Jody Cain
Jcain@lhai.com
310-691-7100
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SOURCE Biocept, Inc.
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