Company Update (NASDAQ:BIOC): Biocept Inc Launches its First Liquid Biopsy Diagnostic Test for Colorectal Cancer
Biocept Inc (NASDAQ:BIOC), a molecular diagnostics company commercializing and developing liquid biopsies to improve the detection and treatment of cancer, today announced the launch of its proprietary quantitative Target Selector™ assay targeting KRAS mutations utilizing a patient’s blood sample. Testing for this predictive biomarker will help physicians identify patients who might benefit from targeted therapies currently available to treat solid tumor cancers. In addition, the high sensitivity of Biocept’s Target Selector™ allows the test to be used for monitoring patients for response to treatment and progression of disease during the course of therapy.
KRAS mutations occur in approximately 40% of patients with colorectal cancer, and have been identified in high frequency in lung, pancreatic and other solid tumor cancers. Mutations in the KRAS gene have been shown to be predictive to resistance to anti-EGFR monoclonal antibodies, such as Vectibix® (panitumumab) from Amgen Inc. and Erbitux® (cetuximab) from Eli Lilly and Company.
“Understanding a patient’s KRAS status is required to prequalify that patient for specific antibody-based targeted therapies,” said Veena Singh, MD, Biocept’s Senior Vice President and Senior Medical Director. “Additionally, disease recurrence or progression in a patient treated with an anti-cancer agent can indicate an evolution in the tumor’s mutational landscape and a change in a patient’s biomarker status. Our liquid biopsy, using a simple blood draw, enables a physician to monitor a patient’s KRAS status over time to identify these changes and respond accordingly.”
“Patients with solid tumor cancers such as lung, colorectal and pancreatic can exhibit few symptoms until the disease reaches an advanced stage,” said Lyle Arnold, Biocept’s Senior Vice President of Research and Development and Chief Scientific Officer. “The ability to detect KRAS mutations could be vital in helping to diagnose these patients earlier in the diseases’ progression. The high sensitivity of our mutation test also offers an advantage in monitoring patients at high risk for disease recurrence without the use of invasive tissue biopsies.” (Original Source)
Shares of Biocept Inc. closed yesterday at $2.37. BIOC has a 1-year high of $5.12 and a 1-year low of $1.09. The stock’s 50-day moving average is $2.64 and its 200-day moving average is $2.64.
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.