Biocept, Inc. (NASDAQ: BIOC) is a molecular diagnostics company with commercialized assays for lung, breast, gastric, colorectal and prostate cancers, and melanoma. The Company uses its proprietary liquid biopsy technology to provide physicians with information for treating and monitoring patients diagnosed with cancer.
Recent announcements/Catalysts:
- The launch of Biopsy Kit: On Jan 28th, Biocept Launches Liquid Biopsy Kits Intended to Broaden Use of its Proprietary Technology Platform for High Sensitivity Detection of Circulating Tumor DNA. Target Selector™ kits are research-use-only (RUO) and designed to enable laboratories around the world to leverage Biocept’s patented assay technology to perform cutting-edge liquid biopsy testing.
- Capital Raise/Financial Closure: On Jan 18th, the company announced it has entered into a securities purchase agreement with certain accredited institutional investors to purchase approximately $2.2 million of its common stock in a registered direct offering. The purchase price for one share of common stock will be $2.25.
- Introduction of Artificial Intelligence: On Dec 18th, the company announced that Biocept and Prognos Entered into Partnership to Apply Artificial Intelligence in Order to Help Pharmaceutical and Life Sciences Companies Optimize Commercialization of Biomarker-Targeted Therapies in Oncology. The partnership enables Biocept’s data monetization strategy and enhances Prognos’ repository of more than 20 billion laboratory records to predict disease earlier.
Anticipated Near-Term Milestones:
- Increase market penetration into emerging liquid biopsy segment
- Enter into strategic commercial and technology partnerships – Global and U.S.
- Validate Oncomine™ NGS Panel; Become Thermo Fisher Liquid Biopsy Center of Excellence Grow sales of blood collection tubes under VWR marketing and distribution agreement
- Sign new third-party health plan agreements and expand the relationship with BCBS
- Publish clinical case studies
- Develop and launch ex-US kit strategy
- Launch additional oncology biomarker assays
- Monetize data through Artificial Intelligence (AI) from over 16,000 patients tested
The company is in an expansionary phase, as evident from its recent financial closure and robust partnerships. BIOC’s liquid biopsy tests are expected to supplement or even replace tissue biopsies in the multi-billion molecular oncology testing market, leading the company towards full-fledged commercialization stage.
Analysts tracking the stock believes that Biocept is an emerging player in the liquid biopsy space and the key for Biocept is to continue to raise awareness about its technology platform. Furthermore, 2019 is expected to be a remarkable year for biotech space and oncology/cancer segment will likely continue to dominate the industry.
Analyst rating/price targets:
Several brokerage firms have initiated coverage on the company, and the stock currently has an average rating of “Buy” and a consensus price target of $5.13. Per Yahoo.com, 3 out of 3 analysts, recommends buying. Considering present valuation, the company is in a favorable risk-reward position, and value investors should consider exposure in this sector as the backdrop remains exceptionally favorable.
Source: Yahoo.com
Description & about the Company:
Biocept is a cancer diagnostics company, which develops and commercializes proprietary circulating tumor cell (CTC) and circulating tumor DNA assays utilizing a standard blood sample. Traditional Biopsies, are invasive, can be painful, and difficult to carry out in many instances. On the flip side, Biocept’ detect circulating cells and the DNA fragments in blood, as opposed to from a direct tumor sample. The tests are called liquid biopsies.
Industry potential:
- Biocept focuses on patients with lung, breast, prostate, & colorectal cancers (>45% of all metastatic cancers)
- Liquid Biopsy Market Forecast to Reach in the Billions
- The commercial organization, improving cancer patient outcomes
- Advantages of a simple blood test vs. tissue biopsy (high sensitivity, actionable, rapid results, non-invasive, cost-effective)
Unique differentiating factors of Biocept:
Collaborations:
Q-3 Financial Results:
Revenue: Revenues for the third quarter of 2018 were $762,000, compared with $1.1 million for the third quarter of 2017.
Profitability: The net loss for the third quarter of 2018 was $6.0 million, or $2.42 per share on 2.8 million weighted-average shares outstanding. This compares with a net loss for the third quarter of 2017 of $5.8 million, or $5.90 per share on 987,000 weighted-average shares outstanding.
Liquidity and financial flexibility: Cash and cash equivalents as of September 30, 2018, were $9.0 million, compared with $2.1 million as of December 31, 2017.
Key Stock Influences:
- Successful completion of the upcoming catalysts would lead future direction for the company. Any adversities related to these upcoming milestones might adversely impact the overall investor sentiments.
- BIOC is still an early stage entity and has not yet generated meaningful revenue and will likely operate at a loss as it grows its market position and seeks ways to monetize it.
- BIOC has a history of operating losses. Therefore, any time or cost overrun in its ongoing R&D activities and its impact on business & financial profile will remain a key business sensitivity factor.
Stock Chart:
- On Tuesday, Jan 29th, 2019, BIOC was at $2.02 on volume of 1.2 million shares exchanging hands. Market capitalization is $8.57 million. The current RSI is 56.57
- In the past 52 weeks, shares of BIOC have traded as low as $0.66 and as high as $12.30
- At $2.02, shares of BIOC are trading above its 50-day moving average (MA) at $1.30 and below its 200-day MA at $3.83
- The present support and resistance levels for the stock are at $1.80 & $2.66 respectively.
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