Stock Update (NASDAQ:BIOC): Biocept Inc Announces Personnel Change

Biocept Inc (NASDAQ:BIOC), a molecular diagnostics company commercializing and developing liquid biopsies to improve the detection and treatment of cancer, today announced the voluntary resignation of Bill Kachioff, Senior Vice President and Chief Financial Officer, to pursue other business opportunities. The company also announced that Mark G. Foletta has been appointed as the company’s interim Chief Financial Officer, effective immediately.

“Bill has been a valued member of our management team for more than four years and on behalf of Biocept and its board of directors, I thank him for his dedicated service to our company,” said David F. Hale, Chairman of Biocept. “We wish him well in his future endeavors.”

“Mark has more than 20 years of financial experience primarily in the healthcare industry, including serving as the Chief Financial Officer of a rapidly growing, publicly traded biotechnology company,” said Michael Nall, President and Chief Executive Officer of Biocept. “This is an exciting time atBiocept as we expand into new cancer indications and increase our portfolio of biomarkers. I’m delighted that Mark has agreed to join us as we continue to expand the clinical utility and adoption of our liquid biopsy assays in order to improve patient outcomes and reduce healthcare costs.”

Mr. Foletta served as Senior Vice President and Chief Financial Officer of Amylin Pharmaceuticals, Inc. from 2000 through its acquisition by Bristol-Myers Squibb in 2012. At Amylin he was responsible for capital formation, financial management, financial reporting and investor relations. He participated in the successful commercial launch of three novel pharmaceutical products as the company evolved from R&D to commercialization. Prior to Amylin Mr. Foletta held a number of management positions with Intermark, Inc. and Triton Group Ltd., and served as an Audit Manager withErnst & Young. Mr. Foletta received a BA in Business Economics form the University of California, Santa Barbara, is a certified public accountant (inactive) and is a member of the Corporate Directors Forum. Mr. Foletta serves on the boards of directors of publicly traded healthcare companies AMN Healthcare Services, Inc., Regulus Therapeutics, Inc. and Dexcom, Inc., and privately held ViaCyte, Inc. (Original Source)

Shares of Biocept closed yesterday at $2.00. 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 $2.38 and its 200-day moving average is $2.61.

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.

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