Biocept Inc (NASDAQ: BIOC) is making its way to the top in the market this morning with gains over 25% early on. The gains come after the company announced patent news, adding onto the recent product launch news that has led to strong volume and impressive gains as of late. Here’s what’s happening:
What Is Biocept
Before we get to the news, it’s important that you know just what Biocept is. The company is focused on the development of liquid biopsy tests that are designed to improve outcomes for patients with debilitating conditions.
These tests give physicians a molecular look at the diseases that ailes their patients. With a close molecular look, doctors have the ability to choose more effective treatment options on a patient by patient basis.
New Patent Excites Investors
As mentioned above, Biocept is flying in the market today with gains of more than 25% early on after announcing patent news. In a press release issued early this morning, the company announced that it has been awarded Chinese Patent No. ZL201080019566.9.
The patent, titled DEVICES AND METHODS OF CELL CAPTURE AND ANALYSIS covers methods and devices for the capture of rare cells of interest. These cells include CTCs that are shed into the bloodstream by solid tumors. Once in the bloodstream, an antibody or mix of antibodies and a microchannel are used for cell capture, detection and analysis.
This is overwhelmingly positive news as it means that Biocept is protected against competition in the region. Moreover, this isn’t the first patent in its IP portfolio. In fact, this patent marks the 33rd that has been issued to the company surrounding its liquid biopsy technology and commercial testing platforms.
The News Only Expanded Ongoing Excitement
The truth of the matter is that the stock has been running for the top for several sessions at this point. In fact, since news of a commercial launch was announced on May 20, 2019, the stock has climbed by more than 84%.
In the announcement made earlier this month, the company announced the commercial launch of its Target Selector NGS Lung Panel product. This product is a multi-gene liquid biopsy panel that was developed specifically to improve outcomes for lung cancer patients.
Running on Thermo Fisher Scientific’s Ion Torrent NGS platform, the Target Selector is marketed to physicians and researchers. The panel can be used to detect and monitor actionable biomarkers associated with lung cancer.
This news proved to be incredibly positive. After all, the commercial launch opens a potentially significant stream of revenue for the company in a market that is very large. In fact, lung cancer is the leading cause of cancer-related death in both men and women in the United States.
Unfortunately, lung cancer, particularly non-small cell lung cancer, or NSCLC is a grim prognosis with a five year survival rate in metastatic cases of around 5%. While 17% to 27% of NSCLC patients harber molecular alterations that can be treated with FDA-therapies.
However, in order to realize the full potential of targeted therapies, oncologists need timely and accurate molecular characterization of a patient’s cancer, allowing the physician to choose the best possible therapy for each patient.
Unfortunately however, a large percentage of patients are not able to undergo molecular profiling as it comes with a number of practical constraints. Most importantly, many patients do not have the required availability of tissue for molecular testing.
Considering the fact that Biocept’s Target Selector is a liquid biopsy, which is done through the use of a simple blood sample, the large percentage of patients that do not qualify for current standard of care molecular testing will be able to undergo testing provided by Biocept, ultimately opening the door to opportunity for patients, physicians, the company and those who own BIOC shares.
With the recent commercial launch of the Target Selector and the company’s strengthening IP portfolio, BIocept is quickly grabbing the attention of investors. This is leading to strong runs in value and high volumes of shares being traded. Nonetheless, my job is to inform you of the news, not to advise you as to where a stock is headed. If you decide to make an investment in Biocept based on recent news, make sure to do your due diligence and consider the risks.
What Do You Think?
Where do you think BIOC is headed moving forward? Join the discussion in the comments below!