Biocept (BIOC) Stock Gains On Laboratory Supply Agreement

Biocept BIOC Stock News

Biocept Inc (NASDAQ: BIOC) is making a run for the top early on the trading session this morning, with early gains of more than 3%. The gains come after the company announced that it has entered into a laboratory supply agreement. Here’s what’s happening:

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BIOC Stock Heads Up On Supply Agreement

Biocept issued a press release early this morning, announcing that it has entered into a new Laboratory Services Provider AGreement. The agreement was signed with Beacon Laboratory Benefit Solutions.

Beacon Laboratory Benefit Solutions is a nationally recognized premier provider of laboratory benefit management technology solutions. It’s primary customers are managed care companies in the United States.

BIOC said that Beacon administers laboratory benefit management programs for health plans to improve test ordering efficiency, test appropriateness, affordability, and quality fo care for health plan members.

In order to better serve the needs of physicians and patients, Beacon connects them to its Labs-of-Choice. These are high quality, preferred laboratories. Importantly, the list of Labs-of-Choice now includes Biocept.

In a statement, Michael Nall, President and CEO at BIOC, had the following to offer:

We are very pleased to become a laboratory services provider for BeaconLBS, which offers innovative laboratory management technology solutions that benefit physicians, patients and payers.

As a BeaconLBS Lab-of-Choice, more patients will have an opportunity to benefit from our liquid biopsy testing platforms, which can help physicians identify actionable biomarkers in patients diagnosed with cancer and design personalized treatment programs in order to improve outcomes.

Why This News Is Big For Biocept

At the end of the day, the agreement that was announced today has the potential to greatly expand revenue at BIOC. After all, the company will now be incuded in a list of preferred labs for national providers. As such, those that take part in the services provided by Beacon are more likely to choose the company’s laboratory products.

With a footprint that spreads across the United States, Beacon has the potential to dramatically increase sales for BIOC. As such, we can expect for this agreement to lead to a significant expansion of revenue.

So, it’s not surprising to see that excited investors are pushing the stock for the top. After all, this news ultimately means that growth is likely ahead.

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