Biocept (BIOC) Stock Pops On European Availability Update

Biocept BIOC Stock News

Biocept Inc (NASDAQ: BIOC) stock is making a move for the top in the market this morning. The stock is trading on gains of over 10% after announcing that it may now commercialize its Target Selector kit products in the European Union. Here’s the scoop:

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BIOC Stock Climbs On European Test Kit Commercialization News

In the press release, Bioscept said that it has been awarded the CE-IVD mark for its Target Selector molecular assay EGFR Kit. As a result of the CE-IVD Mark, the company’s test kits are confirmed to meet the requirements of European regulatory authorities, making these kits able to be sold in the European Union and other geographies covered by the CE Mark.

The Target Selector molecular assay kits detect oncogene mutations in surgical biopsies and circulating tumor DNA from blood-based liquid biopsies. Importantly, mutations include some of the most fequently evaluated biomarkers for lung cancer.

BIOC reminded investors that these test kits use its patented Switch-Blocker technology. This technology helps to enrich the specimine for mutations of interest, resulting in both high sensitivity and high specificity when compared to other testing methods.

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

Obtaining the CE-IVD Mark expands the market opportunity for our Target Selector™ molecular assay kits in the EU and other major international markets where we are seeing an acceleration in adoption of liquid biopsy-based testing. We believe our Target Selector™ molecular assay kits offer features that uniquely meet the needs of the EU and other international markets through the highly sensitive detection of key actional mutations and while being extremely cost effective.

Previously we announced CEE-IVD mark for our CEE-Sure™ ambient temperature blood collection tube and ship kit. We are excited to now offer laboratories in the EU and other international markets a complete solution from sample acquisition to shipping and on through molecular assay reporting for tissue or liquid biopsy-based testing.

Why This News Is So Exciting

There’s no hiding the fact that the news issued by Biocept this morning was great. After all, it means that the company now has a new, vast market that it can reach when it comes to selling its Target Selector biopsy kits.

Importantly, the European Union represents some of the largest econoies in the world, creating a compelling opportunity for the company. With the cancer diagnostics market expected to climb to be worth more than $240 billion annually by 2026, and the company’s effective strategy of bringing its testing options to the world’s largest economies, BIOC is a stock that should not be ignored.

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