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.
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BIOC’s liquid biopsy assays can be particularly useful when there is insufficient sample material to perform a tissue biopsy or when a tissue biopsy has proven inadequate for identifying actionable biomarkers required to support the use of targeted drug therapy. The overall Liquid Biopsy Market Estimated at $10+ Billion and has extreme Potential to improve cancer patient outcomes.
Anticipated Near-Term Milestones:
- Continue to grow commercial liquid biopsy volume and revenue
- enter into strategic sales and technology partnerships – Global and U.S.
- Sign additional Empower TC agreements with pathologists and major hospitals
- Launch blood collection tubes under VWR marketing & distribution agreement
- Sign new third-party health plan agreements and expand the relationship with BCBS
- Launch additional oncology biomarker assays and publish clinical case studies
The company is rapidly progressing towards full-fledged commercialization stage with significant upside potential, as its liquid biopsy tests begin to supplement or even replace tissue biopsies in the multi-billion molecular oncology testing market.
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, 2018 is expected to be a remarkable year for biotech space and oncology/cancer segment will likely continue to dominate the industry.
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 $2.50. 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.
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.
- Biomarker Summit: The company would be making a presentation of analytical and clinical data for its Target Selector™ liquid biopsy assay platforms at the GTCbio 11th Biomarker Summit being held March 27-28, 2018 in San Diego. In these data sets BIOC, will demonstrate the ability of its circulating tumor cell (CTC) and circulating tumor DNA (ctDNA) platforms to detect predictive and prognostic biomarkers from a simple blood sample.
The company aims to help physicians identify clinically actionable biomarkers as rapidly as possible with its Target Selector CTC and ctDNA platforms to enable timely and better-informed treatment selection.
- 2018 American Association for Cancer Research (AACR) Annual Meeting: The company is also scheduled for poster presentation at the 2018 American Association for Cancer Research (AACR) Annual Meeting being held April 14-18, 2018 in Chicago at McCormick Place North/South.
- Financial results for 2017: The company will release its financial results for the three months and 12 months ended December 31, 2017, after the market closes on Wednesday, March 28, 2018.
Unique differentiating factors of Biocept:
Q-3 Financial Results:
Revenue: Revenues for the third quarter of 2017 increased 6% to $1.1 million, from $1.0 million for the third quarter of 2016, and included $1.0 million in commercial test revenues and $67,000 in development services test revenues.
Profitability: The net loss for the third quarter of 2017 was $5.8 million, or $0.20 per share on 29.6 million weighted-average shares outstanding. This compares with a net loss for the third quarter of 2016 of $4.7 million, or $0.57 per share on 8.4 million weighted-average shares outstanding.
Liquidity and financial flexibility: Cash and cash equivalents were $5.9 million as of September 30, 2017, compared with $4.6 million as of December 31, 2016.
Key Stock Influences:
Successful completion of the upcoming milestones 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.
On Wednesday, March 21st, 2018, BIOC is trading at $0.32 on an above average volume of 2.4 million shares exchanging hands. Market capitalization is $20.349 million. The current RSI is 44.55
In the past 52 weeks, shares of BIOC have traded as low as $0.26 and as high as $2.45
At $0.32, shares of BIOC are trading below its 50-day moving average (MA) at $0.40 and below its 200-day MA at $0.94
The present support and resistance levels for the stock are at $0.30 & $0.35 respectively.
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