How would you like to be able to get a simple blood test to tell if you have breast cancer or prostate cancer? Well, thanks to a company named Biocept Inc (NASDAQ:BIOC) you may soon be able to do so.
Biocept Inc (NASDAQ:BIOC) today introduced what they call the CLIA-validated androgen receptor expression assay which is able to take a patient’s blood and then detect and monitor late-stage prostate cancer and some types of breast cancer.
Shares of Biocept Inc (NASDAQ:BIOC) are trading up big this afternoon, with volume of over 10-times the 3-month average, after release of this news. In order to do its job, the test uses circulating tumor cells from a simple blood test. It can detect adrogen receptor expression which is found in patients with Her2 negative, estrogen receptor negative, and progesterone receptor negative breast cancers as well as advanced prostate cancer.
The stock is up 21.20% or $0.28 following the news, hitting $1.61 per share. About 2.24M shares traded hands or up 1172.56% from the average. BIOC has declined 60.65% since June 3, 2015 and is currently downtrending. It has underperformed the S&P500 by 54.79%.
Biocept, Inc. is a cancer diagnostics company. The company has a market cap of $24.59 million. The Firm develops and commercializes circulating tumor cell and circulating tumor DNA (ctDNA), tests utilizing a standard blood sample. It currently has negative earnings. The Company’s marketed tests are OncoCEE-BR for breast cancer CTC enumeration and analysis, OncoCEE-GA for gastric cancer CTC enumeration and analysis and OncoCEE-LU for non-small cell lung cancer, or NSCLC, CTC enumeration and analysis.