Biocept Inc (NASDAQ:BIOC) a major commercial provider of liquid biopsy assessments intended to offer physicians with clinically actionable data to enhance the outcomes of cancer patients, reported that CEO and President W. Nall issued letter to stockholders.
The details
The letter stated that Biocept team is looking forward to 2017, as they work to advance their position as a commercial pioneer in liquid biopsy. The previous year was eventful as they launched new premium biomarker assays, finalized in-network provider deals with major health plans, and posted positive clinical study data that further validate their Target Selector™ platform. It was pleasing to see these endeavors reflected in their improved financial and operational performance, with strong YoY growth in sample volumes along with the achievement of their first million-dollar quarter in 3Q2016.
Among Biocept’s notable achievements, they commercialized their liquid biopsy assessment for PD-L1 protein expression in June 2016. The determination of PD-L1 designation is required to qualify patients for specific targeted immuno-oncology treatments. This test was well taken by the medical community. Also, physician demand has remained strong since its release.
The quantification of protein expression for trials like PD-L1 is done on circulating tumor cells and cannot be decided from ctDNA. It is an instance of how their Target Selector™ dual-platform, which assesses cancer biomarkers seen in ctDNA and on CTCs, can offer a better comprehensive answer compared to other liquid biopsy assessments that just analyze ctDNA.
Biocept started 2017 by reporting an in-network deal with the leading health plan in Texas. It is a significant achievement for company, as Texas is one of their largest markets. The company recently finalized a group-purchasing deal with a large, countrywide health plan association. This deal substantially enhances the opportunity for company to close more in-network deals with member plans via this network.
