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Biocept Inc filed for Chapter 7 bankruptcy liquidation and is permanently closed. No news is currently being published for this defunct company.
Biocept Inc was a molecular oncology diagnostics company headquartered in San Diego, California. The company developed and commercialized liquid biopsy assays designed to detect circulating tumor cells and tumor DNA in blood and cerebrospinal fluid samples from cancer patients. During its operations, news coverage focused on clinical study results, regulatory approvals, reimbursement coverage decisions, partnership announcements, and commercial developments related to the company's diagnostic testing services.
The company's Target Selector platform technology was the subject of news related to new assay launches, validation studies, and clinical applications across multiple cancer types. Announcements regarding the partnership with Quest Diagnostics to distribute the Target Selector NGS Lung Panel generated coverage in healthcare and diagnostics industry publications. Medicare coverage determinations and private payer reimbursement policies for Biocept's assays were frequently newsworthy events that impacted the company's market access.
CNSide cerebrospinal fluid assay developments, including clinical trial initiations, research presentations at medical conferences, and publications demonstrating the technology's performance in detecting CNS metastases, were regular topics in company news. Scientific findings showing the assay's ability to identify actionable biomarkers in patients with leptomeningeal disease received attention in oncology and diagnostics media.
Corporate developments including financial results, strategic initiatives, executive appointments, and capital raising activities were covered in business and investment news outlets. As the company faced financial challenges that ultimately led to bankruptcy proceedings, news coverage shifted to focus on restructuring efforts, asset sales, and the eventual liquidation under Chapter 7 bankruptcy protection.
Biocept, Inc. (Nasdaq: BIOC) has granted stock options to purchase 38,250 shares of common stock to six new employees. These options, with an exercise price of $6.03 per share, are in compliance with Nasdaq Listing Rule 5635(c)(4) and vest over four years. Biocept, known for its molecular diagnostic assays for various cancers and COVID-19 testing, aims to leverage its proprietary technology for better patient treatment and monitoring.
Biocept (Nasdaq: BIOC) has entered a supply agreement with Aegea Biotechnologies for a new PCR-based COVID-19 assay kit, co-developed to enhance diagnostics. The assay features proprietary Switch-Blocker technology for precise viral RNA detection and may identify SARS-CoV-2 variants. Aegea will supply the kit for validation in Biocept's certified lab, aiming for commercialization. The test is expected to support healthcare providers by quantifying viral load and detecting asymptomatic carriers, thus expanding Biocept's COVID-19 testing capabilities.
Biocept, Inc. (Nasdaq: BIOC) has partnered with Protean BioDiagnostics to research the effectiveness of Biocept's Target Selector™ molecular assay in identifying EGFR status in non-small cell lung cancer (NSCLC) patients. This collaboration aims to validate a laboratory developed test (LDT) based on Biocept's technology. The Target Selector assay requires significantly less tumor input, potentially enhancing patient qualification for targeted therapies. Biocept's assays have proven reliable for detecting critical oncogenic mutations, thereby aiding personalized treatment plans.
Biocept, Inc. (Nasdaq: BIOC) announced data from its Target Selector™ molecular assay kit, demonstrating detection of mutations in 50% of non-small cell lung cancer tissue biopsy specimens previously deemed quantity not sufficient (QNS). The findings will be presented at the Molecular Med Tri-Con Virtual Conference. The assay's ultra-high sensitivity and patented Switch-Blocker technology show promise in addressing challenges in molecular diagnostics, particularly for biopsies with insufficient material. Biocept's assays aim to guide treatment decisions by identifying critical mutations in tumors.
Biocept, Inc. (Nasdaq: BIOC) has received over 250,000 samples for COVID-19 testing at its CLIA-certified laboratory, with nearly 55,000 samples processed in 2021 alone. The company emphasizes rapid processing, delivering most results within 48 hours. They expect COVID-19 RT-PCR testing to remain a significant part of their business until the pandemic ends. Biocept specializes in molecular diagnostics for various cancers using its proprietary liquid biopsy technology, providing actionable insights to physicians for patient treatment.
Biocept, Inc. (Nasdaq: BIOC) has granted inducement stock options totaling 86,720 shares to five new employees, effective January 31, 2021. The options have an exercise price of $5.87 per share, based on the closing stock price on January 29, 2021. They are non-qualified options with a ten-year term and a four-year vesting schedule, contingent upon continued employment. Biocept specializes in molecular diagnostics for various cancers, utilizing its proprietary liquid biopsy technology to assist in treatment decisions and patient monitoring. For more details, visit www.biocept.com.
Biocept, Inc. (Nasdaq: BIOC) reports on its strategic priorities for 2021, focusing on enhancing its oncology testing capabilities, particularly with its Target Selector™ CSF assays. These assays aim to improve the diagnosis and monitoring of central nervous system metastases, a growing market with over 100,000 U.S. patients diagnosed annually. The company also continues to support COVID-19 testing, surpassing previous revenue records due to this demand. Key collaborations, such as with Highmark Health, and advancements in molecular diagnostics position Biocept for future growth.
Biocept (Nasdaq: BIOC) announced that President and CEO Michael Nall will present at the H.C. Wainwright Virtual BioConnect Conference from January 11-14, 2021. The presentation will be available on the Investor Relations section of the Biocept website starting at 6:00 a.m. Eastern time on January 11. Additionally, Nall will participate in a diagnostics panel discussion on January 12, 2021, at 12:00 p.m. Eastern time, hosted by former FDA Commissioner Scott Gottlieb.
Biocept, Inc. (Nasdaq: BIOC) has granted inducement stock options for 83,120 shares to 14 new employees, effective December 31, 2020. The options, with an exercise price of $4.44 per share, comply with Nasdaq Listing Rule 5635(c)(4). These non-qualified stock options will vest over four years, with 25% vesting on the first anniversary and the remaining 75% vesting monthly thereafter. Biocept, specializing in molecular diagnostics, uses its proprietary technology to aid in cancer detection and monitoring, and is also involved in COVID-19 PCR testing.
Biocept, Inc. (Nasdaq: BIOC) has established laboratory services agreements with two independent physician associations (IPAs) in San Diego, serving over 70,000 patients in Southern California. These agreements will allow IPAs to access Biocept's Target Selector™ liquid biopsy oncology assays, aimed at improving patient care through evidence-based results. CEO Michael Nall emphasized the importance of contracting with value-based providers to enhance cost-effective healthcare delivery, indicating plans for additional agreements in the future.
