Boston, MA 06\/03\/2014 (wallstreetpr) \u2013 Biocept Inc (NASDAQ:BIOC)<\/b> needs a bit of introduction if investors are to better understand this low-profile but promising company.<\/p>\n
Biocept is a cancer diagnostics company based in San Diego. The company performed its IPO early this year to little fanfare. It generated $16.7 million in net proceeds from the IPO, and that is where the story resides; more about that shortly.<\/p>\n
Although Biocept\u2019s shares have shrunken since they started public trading on February 5, 2014, the company continues to gain confidence among analysts because of its strong pipeline in the lucrative circulating tumor cell (CTC) testing. In the latest move, analysts Aegis Capital initiated coverage of the company with a \u201cBuy\u201d recommendation and 12-month price target of $16 per share. Shares of Biocept are trading around $5.57 per share.<\/p>\n
Analyst Yi Chen of Aegis Capital observed that the company’s CTC pipeline puts it on a solid path to big gains. The analyst expects the company to start new tests this year, and successful tests will drive the sale in the company with chances of profitability by mid or late 2016.<\/p>\n
True to the anticipations<\/b><\/p>\n
As if to give credence to the analysts\u2019 anticipations, Biocept Inc (NASDAQ:BIOC) intends to spend $5 million to complete all the four states in the development of its CTC test pipeline. It will extract the $5 million earmarked for trial spending from the $16.7 million net proceeds generated through its IPO.<\/p>\n
The CTC test sector is attracting several players because of the compelling opportunity in the cancer diagnosis as well as the frequent testing throughout the treatment period. According to the most recent industry survey, CTC is expected to become a standard care in the next four years, and that means a great opportunity for CTC testing companies that will be established by that time.<\/p>\n
National sales force<\/b><\/p>\n
Biocept Inc (NASDAQ:BIOC) appears to be taking the necessary steps in position itself properly for the anticipated growth in CTC testing sector. The company already has a marketing agreement with Clarient, and it recently announced its own national sales force. It intends to have its sales representatives across the U.S. in strategic locations.<\/p>\n
As such, Biocept Inc (NASDAQ:BIOC) is not only working hard to bring its promising CTC test products to the market sooner than later, but is also putting in place a marketing machine that would support its quick penetration in the market.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 06\/03\/2014 (wallstreetpr) \u2013 Biocept Inc (NASDAQ:BIOC) needs a bit of introduction if investors are to better understand this low-profile but promising company. Biocept […]<\/p>\n","protected":false},"author":12,"featured_media":24500,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[264],"tags":[7062,7063],"stock_ticker":[],"class_list":["post-24497","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-biocept-inc-nasdaqbioc","tag-nasdaqbioc","entry"],"acf":[],"yoast_head":"\n