Biocept Inc (NASDAQ:BIOC), a molecular diagnostics company commercializing and developing biomarkers in liquid biopsies to improve the detection and treatment of cancer, and Insight Genetics, Inc., a privately held molecular diagnostics company with expertise in developing assays to detect ALK and other lung and breast cancer markers, today announced the presentation of study data at the International Association for the Study of Lung Cancer’s (IASLC) 16th Annual World Conference on Lung Cancer in Denver. “Detection of Aberrant ALK Expression from Circulating Tumor Cells for Accurate Monitoring of ALK Driven Non-Small Cell Lung Cancer” will be presented on September 7, 2015, and will describe the detection of RNA-based targets using Biocept’s proprietary liquid biopsy platform.
Earlier this year, Biocept and Insight Genetics announced a collaboration to combine platform technologies to study RNA-based biomarker detection in circulating tumor cells (CTCs). Data demonstrate that Biocept’s proprietary CTC capture technology is compatible for detecting RNA-based targets such as ALK, which is a known driver of non-small cell lung cancer (NSCLC). Using Insight Genetics’ proprietary ALK detection assay, the two companies have been able to demonstrate the feasibility of performing RNA-based detection of ALK in both cell lines and patient samples. These studies demonstrate that Biocept’s proprietary CTC capture technology, coupled with Insight Genetics’ RNA-based biomarker detection assays, could provide a viable strategy to accurately monitor biomarker status in NSCLC patient populations. Biocept has previously demonstrated the ability to detect and quantify ALK translocations at the DNA level.
“These data further support Biocept’s ability to scale our liquid biopsy platform across a number of different biomarkers,” said Biocept’s Senior Vice President and Chief Scientific Officer Lyle Arnold, PhD. “Biocept has already demonstrated the ability to validate biomarkers based on protein expression, as well as DNA copy number and mutations. The addition of RNA expression to the list increases our potential for discovery and clinical utility.”
“Through our collaboration of combining Biocept’s CTC capture platform and Insight Genetics’ ALK qPCR assay, we have been able to successfully detect ALK fusions from blood, something only dreamed about just a few years ago,” said Stephan W. Morris, MD, Insight Genetics’ Scientific Founder and Chief Scientific Officer. “Our collaboration will now build upon these initial data with the goal of making clinical testing from liquid biopsies a standard of care.”(Original Source)
Shares of Biocept Inc. closed yesterday at $1.95. BIOC has a 1-year high of $4.91 and a 1-year low of $1.09. The stock’s 50-day moving average is $2.22 and its 200-day moving average is $2.64.
On the ratings front, H.C. Wainwright analyst Yi Chen initiated coverage with a Buy rating on BIOC and a price target of $4, in a report issued on August 19. The current price target represents a potential upside of 105.1% from where the stock is currently trading. According to TipRanks.com, Chen has a total average return of -15.0%, a 21.4% success rate, and is ranked #3520 out of 3748 analysts.
Biocept Inc is acancer diagnostics company that develops and commercializes proprietary circulating tumor cell, or CTC, and circulating tumor DNA, or ctDNA, tests utilizing a standard blood sample or liquid biopsy.