Biocept Inc (NASDAQ:BIOC), a molecular diagnostics company commercializing and developing blood-based liquid biopsies to provide information to physicians to improve the diagnosis and treatment of cancer, announces a research collaboration with Dr. Shilpa Gupta, Assistant Professor in the Hematology Oncology and Transplantation Division of the University of Minnesota to observe the utility of Biocept’s patented Target Selector™ liquid biopsy technology platform using circulating tumor cells (CTCs) to detect the expression of PD-L1 and androgen receptor (AR) in patients diagnosed with bladder and prostate cancers. The study will be conducted at the University of Minnesota Masonic Cancer Center. PD-L1 is expressed in multiple cancer types and its status is required to qualify patients for certain immuno-oncology therapeutics. AR expression is prevalent in patients with advanced prostate cancer.
“We are delighted to be working with Dr. Gupta, who is internationally recognized as the principal investigator for several high-impact clinical trials with novel targeted therapeutics and immunotherapy agents for patients with bladder and prostate cancers,” said Veena Singh, MD, Biocept’s Senior Vice President and Senior Medical Director. “Dr. Gupta has been an active speaker at national and international forums discussing the role of novel therapeutics for personalized medicine in prostate cancer.”
Dr. Gupta added, “Tissue sample collection and cystoscopy are the standard methods for detecting bladder and prostate cancers, and these methods are invasive and can be expensive. Biocept’s liquid biopsy tests have shown high concordance with tissue biopsies in detecting genetic mutations associated with multiple cancers, and this study is aimed at providing additional clinical support for the use of these tests specifically in bladder and prostate cancers.”(Original Source)
Shares of Biocept closed yesterday at $0.57, down $0.01 or -1.63%. BIOC has a 1-year high of $2.76 and a 1-year low of $0.49. The stock’s 50-day moving average is $0.61 and its 200-day moving average is $0.90.
On the ratings front, Biocept has been the subject of a number of recent research reports. In a report issued on August 31, H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on BIOC, with a price target of $2.50, which implies an upside of 337% from current levels. Separately, on August 3, Roth Capital’s Chris Lewis reiterated a Buy rating on the stock and has a price target of $1.20.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ram Selvaraju and Chris Lewis have a total average return of 0.9% and 6.5% respectively. Selvaraju has a success rate of 44% and is ranked #1744 out of 4147 analysts, while Lewis has a success rate of 57% and is ranked #454.
Biocept, Inc. is an oncology laboratory service company, which focuses on the development and marketing of novel laboratory products in the detection of rare cells to include circulating tumor cells. It develops and commercializes proprietary circulating tumor cell and circulating tumor DNA tests utilizing a standard blood sample. The company utilizes cell enrichment and extraction technology for the detection and analysis of circulating tumor DNA tests. It also offers services to other laboratory testing providers, academic institutions, research organizations, biopharmaceutical companies and clinical trial support.